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Originally Posted by jeffersonkim
Yeah, USAA's $20,000 2% APR Car loan! WOOT!
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I am a USAA member (former military) and plan to purchase tomorrow. What is this 2% loan? Is it just for deployed military? Maximum of $20K?
In response to the original question, I think you should stop the bleeding now and get the less expensive car. Sure, you'll take an immediate depreciation hit and the new one isn't as fun as the old, but at least the higher payments will end. In the long run, I can assure you that you will feel better about making a wise financial decision than about having a nice car to drive for a few years.
IMO, if you are stretching yourself to make a car payment, then you need to reevaluate your priorities. There is little in life as frivolous as an expensive car.
Also - consider a Mazda 3. I tried one during my test drives and it was better than other inexpensive compacts. Or, for a little more money, a Jetta GLI is like a mini-3er and is damn fast. Good luck.