2019 Camry is 2 years into new gen so the reliability should be solid and low maintenance. MSRP is 24k so should be able to swing 22k? 0% interest finance for 60 months means about $400/mth. Need a car only sometimes. Would I be throwing away money for slight safety/reliability improvements compared to other used cars? Model 3 is 40k now with 4.25% finance so that option doesn’t seem economical. I believe financing is better than cash as I’m ok with market volatility and 7% expected returns over loan interest rate. So 22k 0% financed equal to 16k cash. TC 180k
Try looking for phev , like clarity. You will get battery part of Tesla plus gas. Seems like you don't care much about asthetics and brand value. You used model3 and Camry together.
Thanks for the suggestion. Clarity is an extra 9k with 3.5% apr. About 350->570 a month. Fuel savings won’t be worth that much increase. I used model 3 together as I expect EV to need even less maintenance cost, 120 eMPG fuel savings and expect gas prices to increase in the future. Also I like the roof 😎
Buy one used, 30-40k miles and 2-4 years old.
Problems I see are the cash amount equal or worse than 22k at 0% 60 months and a tad more maintenance and gas fillup time.
It’s a Toyota. The differences in maintenance are negligible. You want to avoid paying off the depreciation of the liability as much as possible. And if you’re looking at keeping it for 7+ years for a $10-15k car, the interest is also going to be somewhat negligible.
If you need only sometimes, consider doing Uber. Stack that cash to index funds and thank me later. Don't buy unless it's required.
Yea I definitely won’t use $200 / mth on Uber (expected difference in resale value). I feel like it’s less convenient and wastes time waiting for pickup/drop off inconsistencies
You're not looking at insurance and depreciation and so the maintenance. Also having a flexibility might put you in ways that can call for more spending.
Definitely do M3. Best decision I ever made.
What do you like about it apart from the software part?
Great. All I need is your last line. We're doing our job.
Buy used
Gas car don’t ever buy brand if you don’t care it’s used
I really don't understand why so many people buy brand new economy cars. The only benefit of brand new is warranty (CPO offers the same benefit), customizability (what exciting options or colors are there for a Camry?), and new car smell/knowing everything is perfectly clean and not abused. Oh and I guess convenience, since you just order the new car at the dealership instead of having to look for used ones all over the place. Is that really worth several k when there's used Camry/Accord/Civic/Corollas everywhere and they're practically all the same? Those first few years of ownership are insane in terms of depreciation. Get something a year old if you really want the newer generation Cmary's superior power/efficiency.
No, everyone knows this and so these cars don’t depreciate the any more in the first year than in the 5th year. You’re not looking at much savings until 100k miles. Might as well get the customizations you want
It's still money... I see a 2018 Camry for 18k w 17k miles on it right now, why is having a brand new cookie cutter cheap car worth 4k over that car? I guarantee you that car is not going to be under 13k the next year, or 9k in 2 years. Depreciation does slow down. What is there to even customize with a Camry?
3K CIVIC
If you’re cross shopping a Tesla or any other car make sure you look at TCO. For example, a Mazda 6 is expected to cost $12,700 to maintain over 10 years while a Camry costs $5200. The Honda Accord will be $6600. Source: Yourmechanic.com
Sounds fine if you just want a vehicle to go from a to b and don't want to worry about anything going wrong. Model 3 likely won't be as reliable.