My 2 cents - it may get better, and it may get worse. But if you pass on this you will not have another S for many more months, and chances are quite low that the market will improve. The S is a phenomenal car but it seems you may be early on trading up.Hi guys
My 2023 Macan S has arrived at the dealer
Problem is my trade-in value is WAY less than what I was expecting (10.5K less than the amount I owe)
I don't think it is a good idea financially to go through even if I will feel bad if I cancel as this would be my first P car
I know I would probably be toasted for any future order if I cancel
Have I known that from the get go I do not think I would have ordered the car but you can never know what the used market will be in a few months time...
I have overestimated the used market value for my car, that's what's creating this loss and I am fully aware of it
Yes I still would get the tax rebate for the trade-in value but it still is a 10.5K net loss
I know some of you will tell me that I have ordered the car and that I should live with it
What would you do ? Have you ever been facing the same problem ?
1 day before the first major mechanical issue post warranty would be the ideal time. Of course one can't predict that, but in general the longer you have it while not dumping a bunch of money to keep it running, the better financially.I'll use this thread to ask a somewhat related question. I am 14 months into my 22' Macan and have started thinking about the next one. Any idea what is the ideal window to trade in from a financial perspective? I am perfectly happy with my Macan, and there's no rush, but if it makes sense financially, I could schedule it anytime.
Put yourself in a situation where YOU feel in control and PLAN your path forward . . . don't be a slave/victim to the coming and going of used car values.
I almost turned down my Macan after my trade was about $2k (USD) less than I expected. They originally wanted to give me $4k less, but I showed that I was able to sell the trade-in to Carvana for more and they brought up their offer to match.Thank you for this valuable opinion
I can afford the 10.5K it's just that I feel like I am giving away my current car and I hate it
And as you said I don't want to feel like I was not in control of the deal
I really wanted to get a Macan but is it wort it a 10.5K loss ? I'm not sure...
If you can afford the loss and what is nagging you is not so much the financial impact but rather the fact that there is a loss at all, then it may come down to the value you place on driving the car(s) you'd like to have right now. Personally, I place a relatively high value on that (and I can afford to do so as none of my cars are financed). The reason I place a high value on that is because I work hard and have little spare time for vacations. Therefore at this stage of my life every moment I have with my inner circle of family and friends is prized, as is every moment I have to myself (such as driving to work or for pleasure). So, if it is not the actual loss that worries you (in which case forget the Macan), consider whether the "amount" you will value driving the Macan you ordered over the RS exceeds the bothersome fact you lost 10k on the RS and don't look back.Thank you for this valuable opinion
I can afford the 10.5K it's just that I feel like I am giving away my current car and I hate it
And as you said I don't want to feel like I was not in control of the deal
I really wanted to get a Macan but is it wort it a 10.5K loss ? I'm not sure...
read through the thread here - lots of good points. Couple of thoughts:
- You are $10.5k underwater on a 6yr old car. The deal you made on that car was not at all good. There is zero chance I'd trade in a car underwater, period, unless there was some extenuating circumstance that absolutely made me do it. I would drive the current car until I had positive equity in it before I ever thought about selling it.
- Let's say you really want the Macan and don't care about taking a hit on the Audi. That 10.5k negative equity you rolled into it goes way up through a combination of 1) finance rates and 2) the standard depreciation on a middle line car with nothing special about it. Continuing to push negative equity down the hill is a terrible idea that only causes it to increase in size through time.
- If you're $10.5k underwater on a 6yr old car, I'm guessing you couldn't afford it new and bought it used, suggesting that you don't have F-U money that some people here have and that $10.5k actually matters to you. Be smart, don't dig yourself into a deeper hole for a "nice to have". Get above water on your current car then pick up the same spec '23 Macan S you were looking at for $30k less that you would have paid new today.
He should walk away!read through the thread here - lots of good points. Couple of thoughts:
- You are $10.5k underwater on a 6yr old car. The deal you made on that car was not at all good. There is zero chance I'd trade in a car underwater, period, unless there was some extenuating circumstance that absolutely made me do it. I would drive the current car until I had positive equity in it before I ever thought about selling it.
- Let's say you really want the Macan and don't care about taking a hit on the Audi. That 10.5k negative equity you rolled into it goes way up through a combination of 1) finance rates and 2) the standard depreciation on a middle line car with nothing special about it. Continuing to push negative equity down the hill is a terrible idea that only causes it to increase in size through time.
- If you're $10.5k underwater on a 6yr old car, I'm guessing you couldn't afford it new and bought it used, suggesting that you don't have F-U money that some people here have and that $10.5k actually matters to you. Be smart, don't dig yourself into a deeper hole for a "nice to have". Get above water on your current car then pick up the same spec '23 Macan S you were looking at for $30k less that you would have paid new today.
read through the thread here - lots of good points. Couple of thoughts:
- You are $10.5k underwater on a 6yr old car. The deal you made on that car was not at all good. There is zero chance I'd trade in a car underwater, period, unless there was some extenuating circumstance that absolutely made me do it. I would drive the current car until I had positive equity in it before I ever thought about selling it.
- Let's say you really want the Macan and don't care about taking a hit on the Audi. That 10.5k negative equity you rolled into it goes way up through a combination of 1) finance rates and 2) the standard depreciation on a middle line car with nothing special about it. Continuing to push negative equity down the hill is a terrible idea that only causes it to increase in size through time.
- If you're $10.5k underwater on a 6yr old car, I'm guessing you couldn't afford it new and bought it used, suggesting that you don't have F-U money that some people here have and that $10.5k actually matters to you. Be smart, don't dig yourself into a deeper hole for a "nice to have". Get above water on your current car then pick up the same spec '23 Macan S you were looking at for $30k less that you would have paid new today.
I almost turned down my Macan after my trade was about $2k (USD) less than I expected. They originally wanted to give me $4k less, but I showed that I was able to sell the trade-in to Carvana for more and they brought up their offer to match.
For me, $10.5k would have absolutely sunk the deal. But like I mentioned earlier, you said that they offered you $10.5k less than you owe, but how much less did they offer you than you were expecting? How much you owe on your trade in is no fault of the dealership or fault of the car. It just 'is.' But if you were expecting them to give you more money than your trade is worth so you can be free and clear of it, that's not a reasonable expectation.
Honestly, I'd probably walk from the deal. I know you got hosed at the top of the market, but you still have to deal with it.You're absolutely right
I think my expectations were too high
I would have taken 5K less than I owe
The price they gave me is not that bad because every other offer I got is in the same ballpark so they are not lowballing me
You're absolutely right
I think my expectations were too high
I would have taken 5K less than I owe
The price they gave me is not that bad because every other offer I got is in the same ballpark so they are not lowballing me
