Reply to What is the limit for what you should put down on a vehicle?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Looking at a Hybrid CR-V. Out the door is about $41K. I am retiring next year so want to keep the payment low. $20K down payment will get it to $390/month.

Some people say hold on to my cash and put less down, but I sleep at night better with less monthly obligations. Sadly, car interest rates have gone up in the last few weeks and with the possibility of tariffs, worried thay six months from now is going to be a car buying disaster. Thanks Trump.[/quote]
If you sleep better with less monthly obligations, why not pay cash for a used one that has already depreciated? Tariffs are for cars made outside the US. Where was the CRV made?[/quote]

Cars like a Honda depreciate really slowly, there was a drop in production in the pandemic so there are fewer cars less than 5 years old and the price gap between old and new doesn’t usually bear out much for total cost to own over the long term (because you have no warranty, earlier maintenance, etc)

[b]You buy used because you can’t afford new, not for better value. [/b]

https://www.motor1.com/news/734985/used-car-prices-falling-cheaper/

[/quote]
Lol. Disagree.[/quote]

I used to disagree too, until the pandemic. Used car prices are still being affected. In the past, you could buy a 3yo quality car (Honda, Toyota, Acura, Lexus, Subaru…) for easily 30% less than new. Now, when we recently looked the difference was much much less. It made sense to buy new. [/quote]

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