luxury cars 35k image
Mark
I want to buy a luxury car like MB or BMW that is around 35k. My salary is 80k and I'm single with no kids. I own an average home.
Answer
I would have said you likely earn enough but I see you live in California and your housing cost is high.
You might want to talk to a credit union and see if you can get pre approved for the model you want since even if you do decide to have dealer finance they will give you a better deal if your credit union is already offering a good rate and talk to your insurance agent to see if which you are most willing to pay insurance on.
that is really about the same price as a car like a Prius 5 so at least before maintenance that model your are considering might not be horrible.
I notice the used cars made by EU companies seem lower priced in California than in states where they are less common at least the 4 door models
You bank or credit union website is likely to have loan calculators to tell you how much you will spend per month and you can plug in differences interest rates and duration of loan
I would have said you likely earn enough but I see you live in California and your housing cost is high.
You might want to talk to a credit union and see if you can get pre approved for the model you want since even if you do decide to have dealer finance they will give you a better deal if your credit union is already offering a good rate and talk to your insurance agent to see if which you are most willing to pay insurance on.
that is really about the same price as a car like a Prius 5 so at least before maintenance that model your are considering might not be horrible.
I notice the used cars made by EU companies seem lower priced in California than in states where they are less common at least the 4 door models
You bank or credit union website is likely to have loan calculators to tell you how much you will spend per month and you can plug in differences interest rates and duration of loan
Moving to Dubai for 1-2 years max. Budget of 35k usd to buy a car. Should I buy a new one or a used?
luiscarlos
My objective is to loose the less money possible when selling it after 1 1/2 years. Maybe getting a 3 year old luxury brand car or getting a NEW economic car?
Answer
New cars and luxury cars depreciate the most. I'd suggest buying something 1-2 years old. Still has warranty, probably still has service contract, close enough to new that you might as well be driving a new car. And 20%-40% cheaper than the same car new.
For $35k you could buy a nearly new mid-range Mercedes which holds value better than most. Or Toyota 4WD which also holds value well.
Here's a few tips about buying cars in Dubai...
http://www.dubaifaqs.com/car-buy-sell-in-dubai.php
New cars and luxury cars depreciate the most. I'd suggest buying something 1-2 years old. Still has warranty, probably still has service contract, close enough to new that you might as well be driving a new car. And 20%-40% cheaper than the same car new.
For $35k you could buy a nearly new mid-range Mercedes which holds value better than most. Or Toyota 4WD which also holds value well.
Here's a few tips about buying cars in Dubai...
http://www.dubaifaqs.com/car-buy-sell-in-dubai.php
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