My lease on my 2004 BMW330Ci is coming to an end next month. I will have made $27,000 in payments. My payoff is $25,500 which means if I opt to buy, I will end up paying $52,500 for a car that was worth only $42,000 brand new back in 2003. My wife insists that I should sell my car and try and make a couple grand. But I actually like my car! And I am not looking forward to running out and getting a new car with a $600 or $700 per month payment. So should I finance my car over 60 months and pay way more than what it was worth in exchange for small monthly payments? Sell it in maybe a year or two? Or should I try and sell it now and make a couple grand to put down on something else?
2007-01-23
05:06:50
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