Need some input on finances
#1
Registered User
Thread Starter
Need some input on finances
I currently love my 2012 G37x coupe but I like to plan towards the future. From my understanding, modifying and customizing a vehicle generally leads to a faster rate of depreciation. As of now, my most major mod is a bolt on axle back exhaust. Minor mods consist of LED plate lighting, a carbon fibre vinyl wrapped chrome spoiler, tint and debadge. Future mods would have included a strut bar, front lip, and a stage 3 intake. No suspension because NY roads suck and the stock suspension is already well engineered. If I were to do these tasteful mods will my car depreciate more than it would have stock?
I purchased my car for $21,000 in change after dealer fees etc with $15,000 down and 45,000 miles. I currently pay $180 a month minimum payments to finance the difference and car has 50,000 miles currently. Which would be smarter? Car is in like new condition and i baby it. Garage kept 8/10 times, washed every week etc.
A. Keep car for 2-3 years, add some upgrades, let it depreciate a little bit and trade for a newer model vehicle
B. Keep car until the summer, leave how it is and watch it depreciate "naturally", and trade it in for the 2017 Infiniti coupe.
I purchased my car for $21,000 in change after dealer fees etc with $15,000 down and 45,000 miles. I currently pay $180 a month minimum payments to finance the difference and car has 50,000 miles currently. Which would be smarter? Car is in like new condition and i baby it. Garage kept 8/10 times, washed every week etc.
A. Keep car for 2-3 years, add some upgrades, let it depreciate a little bit and trade for a newer model vehicle
B. Keep car until the summer, leave how it is and watch it depreciate "naturally", and trade it in for the 2017 Infiniti coupe.
#2
The Steering Wheel Guy
iTrader: (12)
You sound like you are in a good position to hold onto the car, pay it off, have a little fun modding, and wait for the first iteration of the new car to work out the bugs. Look at how the launch for the Q50 went. There were many bugs, most notably, the terrible electric steering.
As long as you reverse the mods before selling the car, you will not have lowered the value of the car a single cent. The bulk of the initial depreciation on your car has already occurred, so the car won't be worth much less due to waiting, especially with your relatively low miles.
In summary: Enjoy your car for a couple years. Mod as you wish. Pay off car. Undo mods and sell the parts. Trade in for new coupe once it has proven itself.
As long as you reverse the mods before selling the car, you will not have lowered the value of the car a single cent. The bulk of the initial depreciation on your car has already occurred, so the car won't be worth much less due to waiting, especially with your relatively low miles.
In summary: Enjoy your car for a couple years. Mod as you wish. Pay off car. Undo mods and sell the parts. Trade in for new coupe once it has proven itself.
Last edited by Ryne; 11-03-2015 at 03:39 PM.
#3
Registered User
Thread Starter
Awesome!
Yeah I have kept all the stock parts that significantly matter (exhaust, soon to be intake etc). It is smart as suggested to not purchase the first generation of vehicles so they get rid of the kinks.
When I am ready to trade my car, I will remove the aftermarket parts and sell them? Even if I am at 60,000 miles by September 2016, my car will depreciate only a few thousand or so? I know a 2005 G35 coupe goes for roughly 13-15K with 90K miles. The coupes seem to retain their value more.
Yeah I have kept all the stock parts that significantly matter (exhaust, soon to be intake etc). It is smart as suggested to not purchase the first generation of vehicles so they get rid of the kinks.
When I am ready to trade my car, I will remove the aftermarket parts and sell them? Even if I am at 60,000 miles by September 2016, my car will depreciate only a few thousand or so? I know a 2005 G35 coupe goes for roughly 13-15K with 90K miles. The coupes seem to retain their value more.
#4
The Steering Wheel Guy
iTrader: (12)
Yes, replace the stock parts, then remove and sell the aftermarket parts to recoup what you have spent. These cars take a large initial depreciation, but then hold their value pretty well due to the cars appeal and reliability. The G35 coupe is a perfect example.
#7
Registered User
Thread Starter
I would only keep the vehicle if it had high miles (100K +) because at that point its worth like 3000 if that. But at around 60 miles or so ( I plan to sell the car by 70,000 miles so it's sold still under Infiniti's warranty which is a good incentive for a buyer) car will still be worth over 10,000 which can be used as a down payment.
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#9
Registered Member
iTrader: (1)
DO NOT LEASE!!!! Too many restriction and for me the insurance is nearly double. I like changing cars frequently unfortunately for me but I will never lease. It's like renting an apartment. Not for me. You need to come in with a good down be aggressive with the loan balance if any and keep driving the same car 2-3 years after payed off to save up for the next one.
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