Villa Gesell

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  I just crashed my mom's Lexus... can I tell her that someone hit and ran?

  28 Answers2 years ago
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  Could an everyday joe like myself use the 10-15 year method to drive a new, high end sports car for life, with no real financial strain?

  I just took an auto loan to get a 2017 Nissan Altima with 25k miles on it. I put a thousand down on it.

  My auto loan is for 4 years with minimum payments every month, but I expect I can pay it off in 3.

  Say that the day my Altima is paid off, I trade it in, or sell it privately for more and use the cash for my next down payment, and get, say, a new or barely used Jeep Wrangler.

  Jeep Wranglers are more expensive, but depreciate a lot slower than most vehicles, and with the large down payment from trading in or selling the newer Altima, my auto loan payment might come out to about the same, because Id be borrowing about the same amount as I just did.

  A few years later when the wrangler is paid off, same thing happens again. Sell or trade the 3-4 year old jeep, worth more than a 3-4 year old Altima,and get a corvette, again, with the large down payment, same ball park car payment as before.

  Pay it off in a few years and next time around, Im driving a 100 grand sports or luxury car for the same ballpark car payment.

  Then I figure Ill be driving new, very high end sports or luxury cars for the rest of my life for only about the same as Im paying for my Altima now.

  I would always have a car payment, but id be an every day guy driving the latest and the greatest for an affordable price.

  Could this work, or are there any flaws in my theory?

  5 Answers2 years ago