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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Les H who wrote (75113)3/3/2001 7:45:37 PM
From: Ilaine  Read Replies (2) of 436258
 
>>Car deals leave drivers with negative equity<<

I don' t think that's news, is it? If you buy a new car, you always take a terrible hit in value in the first year. But cars are a depreciating asset, they are never worth what you paid for them. Further, when you sell a used car to a dealer you get the worst prices, just like when you buy a used car from a dealer - private transactions are better deals for both buyer and seller. I've seen it over and over again in bankruptcies and divorces - people who finance cars can never sell them for more than the note. Does your experience differ? (I've always paid cash.)
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