The verdict is in.
There will not be a new performance car (vs. my current get me from point A to B car) added to my life right now. Who knows if I will still want it in 3 years? (Probably, but I'll cross that bridge when I get there) It is a relief to finally make the decision.
What it came down to was my unwillingness to spend the money Right Now. (I don't usually have a problem with spending large amounts of money) The timing isn't ideal and it is as far from a necessity as it gets. That doesn't mean I've stopped lusting for it but I can control it...for now.
My H1N1 inoculation yesterday knocked me out literally by 8:30pm. I slept for almost 10 hrs and awoke to some soreness around the injection site. Shouldn't affect work today too much.
Personally I think that is a wise move (not buying the new car). The instant depreciation would be a drag on your finances, and it didn't seem to match your current saving goals. But take this with a grain of salt...this is coming from someone who is definitely NOT a car person (my wife and I have a base-model GM compact car, with stick shift -- fully paid for, of course).
ReplyDeleteIf you still want the car in 2 - 3 years, you can find a good deal on a gently used one. Let someone else take the depreciation hit!
ReplyDeleteThank you both for your comments.
ReplyDeleteI have been most surprised with my reaction to this particular car, considering I'd never thought I'd buy new ever. It's irrational and very emotional, like the way I am with wanting a home in Newfoundland.
I will be keeping my eye out for used ones in the coming years. They may be hard to come by as there were only 400 available to buy new in Canada for '09.
You can still find '95 import models for sale between $8K - $9K so they seem to hold their value. I'm not as concerned about that as I tend to keep cars for a long time.