Did I do alright on this car trade?
I had a 2011 ford fiesta se with sync and power package, 5 speed.
I owed 13.7k. I know I had significant negative equity.
I purchased a 2011 BMW 328i xDrive (base). With trade, out the door, I financed 26.3k
I'm married and we're looking to start a family. We both have wonderful jobs, are not by any means living paycheck to paycheck (or even close) payments maintenance are not concerns. I was financed at %2.99 percent, 60 months.
Both vehicles have 30000 miles on them and both are in great condition (garage parked, no damage, low mileage).
Would that be considered an acceptable price? I know I'm upside down either way, but I decided I'd rather overpay on a vehicle that would hold value.
Both cars considered, is 26.3k "a good deal" or not?
I guess I'd rather have negative equity in a vehicle that holds value, and we plan to pay it off in 2.5 years, but I'd like to know if this is misguided or appropriate.