Originally Posted by
nintu
Unfortunately the 17981 Hyundai, unfortunately a company that fleets their units to rental companies and other fleets, saturating the market, will depreciate the cash rebate from the msrp number, not the all-in number. Which is roughly 14150 - 2500. Roughly 11650, still more expensive than the base model micra.
There is another issue that needs to be further illuminated in conjunction with this:
Originally Posted by
nintu
I also never recommend a 96mo term. Owing 17,981 on a car that's ACV or Actual car value at 12000, and paying it back 160 dollars at a time means you'll be negative equity for atleast 5-6 years of the entire term.
That. If we put the two together, the result is that he will be upside down in this car for the next 8 years. EIGHT years of driving a car with no air conditioning. If he decides to sell the car after five years to get, say, something with air conditioning, he will need to pay money on top of whatever he gets for the car in order to settle his debt with Hyundai. Not so with a car like the Micra.
Originally Posted by
nintu
Long story short, you paid 4.9+ interest, you just paid it upfront.
Sorry to get all passionate about this, but I hate it when people make their decisions based on interest rate. The base model micra is the same payment over 84 months, not 96, even at 5.9. Not only that, but it's a new model and will have very low depreciation.
It needed to be said.
In our culture obsessed with absurd excess, the Nissan Micra is my counterculture car of choice.
Be sure to visit my blog at
mymicra.com!
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View my fuel log 2015 Micra SV manual: 6.4 L/100 km ... 44.3 mpg (Imp) ... 15.7 km/L ... 36.9 mpg (US) ...