You are obsessing over the interest rate and ignoring the fact you’re taking on $20k additional debt for a new car that will depreciate significantly as soon as you drive off the lot.
You can take the APR from Toyota and finance something like a Corolla LE.
Lower price
Lower payment
Lower gas bills
No 2023 Camry should be $40k. Dealer sees your hardon and plays you like a fiddle. He’s not looking out for you.
Only person who can look out for you is you.
$25k vs $44k.
Even with every reply in this thread saying don’t do it, we can all see where this is going.
YOLO
It’s cause you don’t fill up when you’re bone dry. Typically even with gas light on there’s a few gallons left.
Also the TLX recommends 91, but you certainly can use 87 if you have to.
If fuel economy is your concern, you’re shopping the wrong car anyway.
Went back and noticed this dialogue already happened a year ago when the OP wanted to roll his negative equity into another Acura.
Ouch
So we should expect another post in about a year… “how do I get out of this Camry? Dealer says I have $15000 negative equity. But I can get 4% interest which is better than 5% so it’s a good deal right?”
Shout out to everyone who offered to help a year ago and again today
this aged well
Can the thread be locked? I think there is absolutely nothing useful to add.
OMFG. Just re-read my 6-7 posts from last year.
I’m speechless.
EDIT: 9. I posted 9 times.
I think I’ll be a lurker on this one.
I feel sorry for the OP as it seems that he does not understand the basics of money (not that difficult). Until he does, I suspect he is bound to repeat this.
I was optimistic that since he came to this forum asking for advice, he will take it and reconsider his choices. But seems like that’s not happening. It did not happen last go around either.
Kudos to all those who tried to help and patiently explain.
This is like watching a car crash and there’s nothing you can do to stop it
The only positive is that OP’s negative equity has come down from a high of $10k. If they just keep paying it down and improving their credit score, they should be better off financially next year.
I don’t feel sorry for OP.
No potatoes found in either thread: I drafted something and then never posted it - twice.
OP enjoy your Camry!
I suspect a 13%er
Well, they didn’t end up getting another Acura. Maybe they won’t get the Camry, either.
We’re all invested in the conclusion now, so when you get it, post pics of the new Camry to the What’s in the Garage thread! Good luck on the purchase!