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hmm from what i have heard, once you sign all the paperwork the car depreciates in value 20%. That is the main reason experts recommend putting down at least 20%

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Old 10-28-2009, 02:49 AM   #1 (permalink)
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hmm from what i have heard, once you sign all the paperwork
the car depreciates in value 20%. That is the main reason experts recommend putting down at least 20% for the car just so that if you run into financial instability, you would not be hurt by it as much.

20% of $40k is $8000

so IMHO $32,000 - $33,000 sounds about right.
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Old 10-28-2009, 03:06 AM   #2 (permalink)
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Quote:
Originally Posted by mattkim85 View Post
hmm from what i have heard, once you sign all the paperwork
the car depreciates in value 20%. That is the main reason experts recommend putting down at least 20% for the car just so that if you run into financial instability, you would not be hurt by it as much.

20% of $40k is $8000

so IMHO $32,000 - $33,000 sounds about right.
Ask Fusz if my reasoning is correct.

And nooooo, you heard wrong. Cars don't deppreciate 20% "once you sign all the paperwork." "That is the main reason experts recommend putting down at least 20% for the car just so that if you run into financial instability, you would not be hurt by it as much."-if you're gold-balls credit, make lots of money, have a high 'revolving availability'--you can roll outta the Porsche dealer with just drive-off's i.e. ~10.5% in state of CA.
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