iconoclast
Full Access Member
2015 LR4 HSE LUX w/ 35k will be around $38k trade/wholesale. On the high side.
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2015 LR4 HSE LUX w/ 35k will be around $38k trade/wholesale. On the high side.
Supposing your numbers are right. You’re paying 16k to get out of a car loan that at 1.8% is virtually free money.
Look at your loan papers. What is the total amount of interest you’ll pay by the time the loan is paid off?
If it’s less than 16k you are really shooting yourself in your bankbook if you pay 16k out-of-pocket to retire that loan.
I think we’re all making too many assumptions here though. This is not about the interest to me, it’s aboit total in the end. Owing 36k Plus leaving the equity in the table vs buying something cheap enough is the trick.Supposing your numbers are right. You’re paying 16k to get out of a car loan that at 1.8% is virtually free money.
Look at your loan papers. What is the total amount of interest you’ll pay by the time the loan is paid off?
If it’s less than 16k you are really shooting yourself in your bankbook if you pay 16k out-of-pocket to retire that loan.
So Land Rover is making $15k-$20k profit on the CPO LR4s they are selling? Seems pretty high for the industry standard in the used car market.
If you are correct, then that is depressing, and definitely not even worth my time stopping by the dealer.