I didn’t trade today because the wife and I looked for a new vehicle for her. She has had her SUV for years before I met her and it was just time for a change. We’ve been going back and forth about her options for months and finally narrowed it down to exactly what she wanted. The only difficult thing left was to do some legwork in terms of going to different dealerships and getting the deal we wanted. We actually went as far up into Salem, Massachusetts and Providence, Rhode Island looking for deals. At the end of the day, we were able to find one just outside of the Massachusetts border and went in for final signing this morning. This obviously interfered with my trading schedule.
I was reminded about the general difficulties behind getting a new vehicle but if there is one thing I know it’s that walking in with a preexisting bank finance note is the best way to go. Additionally, while getting a brand new car can be the most optimal strategy, sometimes it pays to get the previous year unless there has been a new redesign. I am also not the type to waste my time trying to “beat the salesguy”, all I want is to get the most fair and equitable deal I can. I know that no matter what, I will leave the dealership feeling compromised but if I approach from a standpoint of equity I find that negotiations are far more pleasant, even if you’re trying to finance with them.
In the end, my wife got a good deal on an SUV that she really wanted with enough options to make her feel like what we are paying is a fair price. It’s a great luxury SUV and just sitting in the passenger seat felt great. I can imagine how it felt for her being the driver. Cars are a great enjoyment but make no mistake, they are NOT an investment. Cars, houses, luxuries are all liabilities. They take money out of your pocket. The only thing that a car gives back is its ability to get you from one place to another. Of course, the nuance in that statement is the level of comfort you are willing to pay for during the journey. I am more liberal with cars and (to a large degree) real estate because you can customize them to fit your EXACT needs and wants versus your ability to pay for them. Most other things are just that…things that take money out of your pocket. So that’s the other thing when you look for a car; throw away any language that frames a car as an “investment” because it’s not and will never ever will be and if someone is trying to tell you how it’s an “investment” then that person doesn’t really understand what an investment is.
As always, I am so thankful to God that we are in a position to purchase the SUV much less a capable moving vehicle. This will keep my wife happy and maybe I can go and purchase some new video games while she’s distracted lol!