Quote:
Originally Posted by parkstr8
Like everyone, I've taken a hit as well. I was about to trade my 2018 X5 with 6200 miles for a 2020 MSport loaded. The 2020 already had a 13k discount as a guy bought it, brought it back a week later with 250 miles on it and traded for an X7. So i would not get the new car finance %, but even used is only like 3.9.
Given everything, I stopped the transaction. I would be taking a loss on my 18 which is basically new with a lot of mods.
I cannot justify the loss, on top of where we are now in general. And I don't see the cash injection "fixing" the issue. Plus - everyone has lost revenue that does not magically reappear. I work in a global industry, so my perspective is always from that standpoint.
As someone mentioned, I don't "need" a new car - its an emotional action.
I'm going to hold tight a few months to see where everything lands. And hopefully when everything has re-started - there will be some great deals of various kinds to choose from then. If not, I'm fine with my 18 for a year or so.
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Smart. Your purchasing power and leverage in a future negotiation will only increase over the coming months. As I alluded to above, I’m struggling with the emotional side of things.