I don’t know… Let me ask.
You should be able to find this out online so that you can compare it to what the dealer offers.
Only seeing Advertised Price $35,891 after dealer discount.
3.7% discount before incentives. I am sure there is more.
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What rate are you getting due to credit of you can’t qualify for lease?
To finance $35k car with high APR is a painful experience.
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11.4… Rebuilding now so hopfully to refi end of this year or next year…
Sorry to ask obvious question but do you HAVE to have $35k with 11% rate?
I know it’s derailing the original question but $35k car isn’t helpful to rebuild credit faster IMHO.
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True. However, I am financing less than half of the price with 15-20k down.
But do you need a brand new $35k car until you improve your financial situation? Regardless of the amount you are financing with the loan shark rates?
I understand it’s your money but I would not plunk so much real car in a car and finance the other half.
I personally think you should keep as much of that cash as you can, find a few year old car for tops $20k and finance that.
In the event of an accident and “total loss” by insurance all your down payment money are gone. I would not take that risk.
For that matter. Take a 3-5 year old car, finance it, pay for 3 years and get something else when your credit improves.
Don’t get into high balance financing at such high rate barely out of bad financial situation you have been.
Thank you so mcuh for your advise. I am strongly considering and taking it.
I think TDI VWs have a 2 year unlimited mileage CPO warranty. Very depreciated and a piece of mind when it comes to the warranty.
VWs are an interesting case for 2018-2019 model years because they carry 6 years bumper to bumper fully transferable warranty.
So don’t even have to buy CPO in that case.
Why not a 2-3 year old Sub? CPO gives you 7 years from inservice, so 4-5 years of warranty off the bat. A cheaper lexus CPO (one of the best CPO programs I’ve heard from f&f), or another VW product CPO would give great bang for buck.
What year SUV should I consider for used car to use only couple years? 2018 2019 VW? Or any good alternative for short term?
If you can find an older-style XC60 with some CPO left, those have highly depreciated.
For VW I think the best bet is the cars that are getting discontinued now (supply will shrink and they won’t be on dealer lots in 2 years) but will always have a cult following.
Like their wagons (Golf sportwagen and Alltrack).
For long term reliability I’d get a 2015 RAV4 or CR-V.
Do you HAVE to have the newer models if you’re trying to repair yourself financially? Any mass market or luxury European crossover is going to experience high depreciation, even after two or three years. The maintenance on European luxury SUVs is not cheap either and wear and tear items are generally not covered under warranty.
I can’t tell you how to spend your money, but if it was my money, I’d get something in good condition that I can live with.
For example, I recently bought a 2009 BMW X3 with about 115k miles on the clock for 6k in cash. It’s manual with the 2.0 Turbo Diesel engine and I recently bought an aftermarket infotainment screen and backup camera for 700 bucks to bring the car to 2020.
I’m in Germany at the moment so parts are a lot cheaper, but this is just to give you an idea of what is possible. I also wouldn’t give any advice I wasn’t willing to take, myself.
If you’re pretty comfortable with the idea of a VW SUV, you could always get a 2020 Tiguan S for ~$22k, since you have enough to put down, you could finance the minimum amount (probably $5k-$6k) over a short term (24-36 mo, whatever the minimum is) to mitigate the horrendous interest rate.