Hello,
I sell cars right now, but I am most likely not going to be much longer (due to kid on the way, and S.O. making much more money). The only real perk of working at a dealership anymore is getting a discount on cars.
History: We have one car (nothing wrong with it), that is currently being financed at 0% (Yes I know not to borrow money and on a new car, but this was before my mustachian ways, and at least it's 0%). I currently owe about half of what I'd get for trade in. So at least there's some good equity there. One year left on the loan.
So my thought is: since this is probably the only time in my life that I'll get this good of a discount (at cost) on a car, which will essentially give me a brand new car, without taking the immediate depreciation hit from driving it off the lot; Also, this will be at 0%, which would allow me to keep my money invested; and I'll be back under warranty, and my first 2 years of maintenance would be paid for; also, the new car would be better with a kid on the way: Is it better to keep the old car that will probably need to be replaced right before FI, or take advantage of the only time I'll get this deal, and pay a bit more, but put off needing to replace a car till after FI?
Yes, if I didn't work at a dealership and get this discount, I wouldn't even be thinking of this, and continuing the mustachian path. I kind of looked at this as, I'm getting a used car price on a new car. Or am I miss-lead?