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SVTPerformance's Chain of Restaurants
Road Side Pub
Hellcat Replacement
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<blockquote data-quote="tt335ci03cobra" data-source="post: 15919103" data-attributes="member: 68944"><p>If I’m reading and mapping the financial elements in play correctly, at most you may free up $150 a month switching out and down to a cts-v, but more so you’ll be in an equity in hand position of maybe $5k to 10k in hand.</p><p></p><p>I’d still keep the hellcat and get the warranty for the following reasons:</p><p></p><p>•Resale value in 3-5 years dramatically favors the hellcat vs a 5-10 year old ctsv. I’d guess $15-20k vs $25-30k at that point. That $10k difference then will still be like $8k today. </p><p>•maintenance and repair cost. The CTS-v may be trouble free, but it is also out of warranty or needs one, and will likely have been driven hard. Likely to have $3-5k in repairs over a 5 year window. If you plan to buy a warranty regardless, then definitely keep the hellcat.</p><p>•even though insurance costs are higher for the new car, they aren’t dramatically higher, but here is one huge benefit. You have equity in the hellcat, and it’s gaining monthly as your payment is likely higher than it’s depreciation rate. Let’s say it gets totaled. You walk out cash in hand. With the V, the lower monthly rate is great for saving $20 if that, but in the event of a totaled vehicle, you are basically even. </p><p></p><p></p><p>I’d still just get the extended warranty, and carry on. If your payment is high enough to make the difference of a $30-40k car a viable monthly boon of say $150-200/month, I’m guessing you financed about $50k and got $18-20k trade in from the cobra. Your payment has to be pretty ugly right now, but you’ll probably pay it off in 2-3 years and are ahead of the equity fall. The sacrifices today will be worth the harvest tomorrow when you can sell this car or trade it in for $25-30k in hand. </p><p></p><p>The high current payment does suck but in just a year, you’ll gain back in equity what the warranty cost 5 fold. Peace of mind easy driving with 707hp for 3-5 more years is a no brainer to me. You could always refinance the payment in half or what not if it’s killing you but I’d say just tighten up $150-200 somewhere else like cutting off the local restaurant 3 times a month or telling the lemonaide stand kids to quit flossing ya, or stop paying for cable tv, etc.</p></blockquote><p></p>
[QUOTE="tt335ci03cobra, post: 15919103, member: 68944"] If I’m reading and mapping the financial elements in play correctly, at most you may free up $150 a month switching out and down to a cts-v, but more so you’ll be in an equity in hand position of maybe $5k to 10k in hand. I’d still keep the hellcat and get the warranty for the following reasons: •Resale value in 3-5 years dramatically favors the hellcat vs a 5-10 year old ctsv. I’d guess $15-20k vs $25-30k at that point. That $10k difference then will still be like $8k today. •maintenance and repair cost. The CTS-v may be trouble free, but it is also out of warranty or needs one, and will likely have been driven hard. Likely to have $3-5k in repairs over a 5 year window. If you plan to buy a warranty regardless, then definitely keep the hellcat. •even though insurance costs are higher for the new car, they aren’t dramatically higher, but here is one huge benefit. You have equity in the hellcat, and it’s gaining monthly as your payment is likely higher than it’s depreciation rate. Let’s say it gets totaled. You walk out cash in hand. With the V, the lower monthly rate is great for saving $20 if that, but in the event of a totaled vehicle, you are basically even. I’d still just get the extended warranty, and carry on. If your payment is high enough to make the difference of a $30-40k car a viable monthly boon of say $150-200/month, I’m guessing you financed about $50k and got $18-20k trade in from the cobra. Your payment has to be pretty ugly right now, but you’ll probably pay it off in 2-3 years and are ahead of the equity fall. The sacrifices today will be worth the harvest tomorrow when you can sell this car or trade it in for $25-30k in hand. The high current payment does suck but in just a year, you’ll gain back in equity what the warranty cost 5 fold. Peace of mind easy driving with 707hp for 3-5 more years is a no brainer to me. You could always refinance the payment in half or what not if it’s killing you but I’d say just tighten up $150-200 somewhere else like cutting off the local restaurant 3 times a month or telling the lemonaide stand kids to quit flossing ya, or stop paying for cable tv, etc. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Hellcat Replacement
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