Does new Camry make financial sense?

Amazon
catowayne

Go to company page Amazon

catowayne
May 27, 2019 32 Comments

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

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 TOP 32 Comments
  • Intuit
    πŸ‡©β€‹πŸ‡΄β€‹πŸ‡¬β€‹πŸ‡ͺ​

    Go to company page Intuit

    πŸ‡©β€‹πŸ‡΄β€‹πŸ‡¬β€‹πŸ‡ͺ​
    Buy one used, 30-40k miles and 2-4 years old.
    May 27, 2019 3
    • Intuit
      πŸ‡©β€‹πŸ‡΄β€‹πŸ‡¬β€‹πŸ‡ͺ​

      Go to company page Intuit

      πŸ‡©β€‹πŸ‡΄β€‹πŸ‡¬β€‹πŸ‡ͺ​
      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.
      May 27, 2019
    • New / Mgmt
      amznDuke

      New Mgmt

      PRE
      Cisco
       amznDuke
      Get a loan for ^^ this cAr
      May 27, 2019
  • New
    $TSLA

    New

    PRE
    Tesla Motors
     $TSLA
    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.
    May 27, 2019 5
    • New
      $TSLA

      New

      PRE
      Tesla Motors
       $TSLA
      I don't want to bring out my quant skills but do yourself the math and if it works in your favor it's good. I'm not going to complain. No a Camry won't retain 50% value. I'm sure EV would have killed all gasoline by then.
      Ten years from now US would possibly be on different kind of vehicle ownership model. You can't extrapolate based on past performance.
      May 27, 2019
    • Oracle
      lHEA77

      Go to company page Oracle

      lHEA77
      An often overlooked benefit of using Uber instead of owning a car is that you never have to look for parking. Depending on where you go, that can be a huge time saver.
      May 27, 2019
  • 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.
    May 27, 2019 9
  • Google
    Trump2024

    Go to company page Google

    Trump2024
    Definitely do M3. Best decision I ever made.
    May 27, 2019 2
    • New
      $TSLA

      New

      PRE
      Tesla Motors
       $TSLA
      What do you like about it apart from the software part?
      May 27, 2019
    • New
      $TSLA

      New

      PRE
      Tesla Motors
       $TSLA
      Great. All I need is your last line. We're doing our job.
      May 27, 2019
  • SWC / Data
    spiked

    SWC Data

    PRE
    Virtusa
    BIO
    Looking for new opportunities in data. Maybe move to North Carolina.
     spiked
    Buy used
    May 27, 2019 0