i'm in the market for a new car. i currently have a 07 camry and i need to get something classy but that doesn't seem like i'm bragging or trying to hard.
Only issue with BMW is family and friends have it already, but they are in deep debt hell. I can only afford upto 10K, depending on how much I get for the camry.
looking for suggestions, thoughts..anything.
What I hear.
1. You want a new BMW or Audi and you have up to $10,000 to start off with depending on what you get for the Camry.
2. You have 2007 Toyota Camry that you could sell or trade-in.
3. You don't want a BMW because others have it already and are deep in debt. But, you are open to it because it's classy.
My thoughts
1. Cars are one of the worst things to buy brand new. They depreciate more than most other high-dollar assets.
2. What do you think your car is worth, $12,000 to $15,000 sold privately?
3. Do you owe anything on the Camry?
4. Don't trade-in ever.
5. Don't get in debt for a car. It is good to go from point A to point B.
6. Are you able to save money now?
My suggestions
1. It might be worth keeping the Camry for two more years. Save up cash every month to build up a bigger down payment.
2. If you buy want to buy a BMW or Audi, sell the Camry first. Then, rent a cheap compact car for a week while you look around for a used BMW or Audi that is two to three years old and fits your budget.
3. When looking at car prices, don't max out on your budget. You don't want an unexpected big expense to push you into spiraling debt.
4. Forget about image. Who you are or what you think people think of you should not be dictated by the car you drive/own. Just don't get a bad quality car. Look up cars that you are interested in on Consumer Reports (free at the library) to get an idea of what cars have problems and what cars don't have problems.
and i need to get something classy but that doesn't seem like i'm bragging or trying to hard.
