My next car?

[ysu]

Some people aren't in a position where they can pay cash for a car Ysu. Sometimes a loan is the only way, bad investment or not.

Does that mean you have to buy a new car in any case? You seem to have completely missed my point...

Crow: you're right, it's not really an investment; but it has to be considered the same way if you get a loan to buy it, iMHO

[Vilante]

Some people aren't in a position where they can pay cash for a car Ysu. Sometimes a loan is the only way, bad investment or not.

Does that mean you have to buy a new car in any case? You seem to have completely missed my point...

Crow: you're right, it's not really an investment; but it has to be considered the same way if you get a loan to buy it, iMHO

I'd actually never get a loan for a car. Car is the worst investment one can get, usually.

You didn't mention anything about new cars till you edited your post. I think you missed your own point.

[ysu]

Some people aren't in a position where they can pay cash for a car Ysu. Sometimes a loan is the only way, bad investment or not.

Does that mean you have to buy a new car in any case? You seem to have completely missed my point...

Crow: you're right, it's not really an investment; but it has to be considered the same way if you get a loan to buy it, iMHO

I'd actually never get a loan for a car. Car is the worst investment one can get, usually.

You didn't mention anything about new cars till you edited your post. I think you missed your own point.

fair point
Edit: but we still missed it I think.
Nevermind.

I still had to edit Ok I'm out I really need to work, rather than giving advice where it's not going to be appreciated anyway

[DexterPunk]

Lmfao!!


Sent from Han Solo using TK-421's phone.

[dvestate]

A new car comes down to how long you are going to own it for, if you are going to replace it within a few years by a 2nd hand one

I bought a new Forester back in 2006 and we still have it, will more than likely have it for a while, our plan on purchase was to get 10 years out of the car. Sure I could have bought one a couple of years old and saved some cash but I wanted a new one so that is what I bought. Also the first car that I paid 100% cash for (minus the trade in value of the SP20 we had)

In my younger years I would get a different car every couple of years, all personal loans but I was young and was happy to waste my cash

Oh and if I do sell it at the 10 year mark it will have some pretty low km's on it as it is basically the wifes car and currently has 55,000 on the clock

[Santaria]

A new car comes down to how long you are going to own it for, if you are going to replace it within a few years by a 2nd hand one

I bought a new Forester back in 2006 and we still have it, will more than likely have it for a while, our plan on purchase was to get 10 years out of the car. Sure I could have bought one a couple of years old and saved some cash but I wanted a new one so that is what I bought. Also the first car that I paid 100% cash for (minus the trade in value of the SP20 we had)

In my younger years I would get a different car every couple of years, all personal loans but I was young and was happy to waste my cash

Oh and if I do sell it at the 10 year mark it will have some pretty low km's on it as it is basically the wifes car and currently has 55,000 on the clock

+1

We bought our new car with the same mentality. Keep it until the wheels fall off/too expensive to repair/10 years. I don't get why there's that need to upgrade every few years. We'll more than likely pay this one off, then use it to alleviate the high end price on the next version that's out by that time.

[Crowella]

My mentality for cars. Run them until they die/too impractical to fix. I only managed 4 years out of a second hand car that cost $5,000 initially and wasn't suited for my job/lifestyle. The amount of repairs was just too high in the end. I replaced almost everything in it. I'm tired of doing that. The only reason I held it so long is that my father has a trade licence and the know how to replace everything. Normally with second hand parts.

Considering how much I was spending just to keep an older car on the road (additional to normal consumable items) I might as well spend a little bit more, have the safety and the knowledge that for the next 5 years, I am covered mechanically within reason.

Total money for my last car. ~$200. Basically worthless. All approved too so its now working on a good figure.

[ysu]

I get what you guys say, and by all means it has merits. Now, let's see the maths, the evil ones
Each car you run till it gets 10yo - take 4 cars (40 years) of new ones, and 5 (also 40 years) of used ones, bought at 2 yrs used.
For simplicity's sake take each car to be 30K new, losing 33% (10K) by 2years.

4x30K = 120K
5x20K = 100K

It's not much, but it's money - and indeed if you want get out of the cars earlier, it will be even worse, as you're rotating more cars, and the big loss is at the first years.
Add to that that the initial funds to start with is 30K vs 20K.

If you buy a one or two year old car, you can consider the huge early price loss as an advantage. It works for you, not against you

Having said all that, I love the new car smell, too. But it smells like burning money a bit too much

disclaimer; if I have enough money I don't care either

[DexterPunk]

Some people aren't in a position where they can pay cash for a car Ysu. Sometimes a loan is the only way, bad investment or not.

Coming back to this point... Is it the only way though? Bringing up the discussion of needs vs wants that Norbs touched on in the Ferrari thread, I would have thought that most people could afford a car without taking out a loan. A car they want though?? that may be a different story. Something to ponder anyway.

[petey]

Well I initially wanted a car that wasn't going to need something fixed every week when I first got my car loan. It was in hindsight a bad decision that has stuck around like a bad smell for a while, since then I have gotten into a better financial position and up'd my car to something with a slightly better resale value.

But the fact is, with the money I had at the time, it was either put dollars into fixing an old heap of rubbish or go towards a much newer better condition car on a loan. It seemed like the better option at the time. It did serve me well but I made the wrong impulse choice which over the few years cost me far more money in repayments and eventual trade-in than it was worth. If I put the dollars I had into fixing my old car and saved my ass off before looking at better vehicles I am fairly certain that I would have been financially a whole lot better off than I am now.

My lesson learnt is definitely take more time and save more money in buying a car. A loan with little deposit on a car that will depreciate (a brand new car is guaranteed to depreciate like it is going out of fashion no matter what brand or model) is going to end up being the bad decision.

But at the same time, I am currently very happy with my vehicle and I have solid mind to keep it for a very long time so at the end of the day....We do what we do, and you cannot let the banks own your decision. Just make sure you have the future plan set to take a few financial hits and be happy with your purchase!







(ok so I am mildly intoxicated but I think I am making sense)

[DexterPunk]

At times I've really wished I never got rid of my old 1989 Corolla hatch. It was low on power, and rusting away in places, but it rarely gave me any trouble at all. I guess you always love your first car, but damn that was a good car.

[Crowella]

And I loved my old 121 but I don't want to spend another $2-3k just to get it ready for rego in two months knowing that it's really falling apart.

[dvestate]

I wish I had never offloaded my 1995 N14 Pulsar SSS, it was my 3rd car and my most loved

[Gizmo]

Fuck guys. Lifes to short. Buy want you want within your set budget. Who really cares of your saving alittle by getting a 2nd hand car? Everyone will get a new car at somepoint in their lifes. As a car nut there is no better feeling. We spent 60k on a Golf recently, yes a golf. Look at what you can get for the same money second hand but the day the dealer gave me the keys was so special, money cannot buy that. I remember I walked around the car, my fingers caught a cheeky brush against the tail lights. I opened the door and rubbed my fingers around the edge of the "R" logo on the headrest. I slid into the car and wrapped my hands around the wheel savouring that new car smell with the knowledge that the 6 month wait and a custom factory build was well worth it! No second hand car can give you that feeling.

Go for it man. With a new car you have the knowledge that its been treated right.

Oh and Yus.......Shutup old man

[DexterPunk]

[quote="Gizmo"Everyone will get a new car at somepoint in their lifes.[/quote]

I'm pretty doubtful I will. I can always see better value for money with a second hand car or ex demo etc. imagine what 60k would have got you if you bough a car that was a year old.


Sent from Han Solo using TK-421's phone.

[Santaria]

[quote="Gizmo"Everyone will get a new car at somepoint in their lifes.

I'm pretty doubtful I will. I can always see better value for money with a second hand car or ex demo etc. imagine what 60k would have got you if you bough a car that was a year old.


Sent from Han Solo using TK-421's phone.[/quote]

Someones rich sweaty ball smell in a clapped out Beemer?

[Speed]

Life is too short to waste money buying something that loses value so quickly......in my opinion.
Of course, keep spending your hard earned bucks on new cars if you like. It gives people who would rather invest their money more choice.

You can often pick something up secondhand with only a few k's on the clock for nearly 2/3rds of the price.

[Santaria]

Life is too short to waste money buying something that loses value so quickly......in my opinion.
Of course, keep spending your hard earned bucks on new cars if you like. It gives people who would rather invest their money more choice.

You can often pick something up secondhand with only a few k's on the clock for nearly 2/3rds of the price.

Here's something crazy: What if.... bare with me.... I invested money as well as buying a new car? Would that then incite a new argument or moral debate?

My truth is: you can't take money with you when you cark it and I really enjoy my new car and if I enjoy investing my money at the same time, then who cares?

It appears there are a lot of people on their high horses in this thread.

[Speed]

There is certainly no right or wrong answer & in the end everyone should do what they feel happy with.

For me, I'm the laziest bastard in the world & I would rather have investments making money for me than working for it.
If you are good enough at doing that, then you can probably do both although I could never feel good about buying a new car when I have had some pretty awesome secondhand ones with less than 10,000 km's on the clock.

[DexterPunk]

No high horse here, I don't care what people do with their money. I just don't wanna do that. I personally don't see the point. To others it's worth it. Each to their own.


Sent from Han Solo using TK-421's phone.

[Crowella]

Well all this talk is irrelevant to me now since pulled the trigger and I have purchased the car this evening.

Each to their own. I work and invest now just like I was before hand. Things I actually enjoy doing.

[Santaria]

Well all this talk is irrelevant to me now since pulled the trigger and I have purchased the car this evening.

Each to their own. I work and invest now just like I was before hand. Things I actually enjoy doing.

Good stuff mate!

I asked myself this question when it came to a new car: Am I worth it? Hells yeah I am!

[Gizmo]

Well all this talk is irrelevant to me now since pulled the trigger and I have purchased the car this evening.

Each to their own. I work and invest now just like I was before hand. Things I actually enjoy doing.

Congrats mate! What did you end up getting in wha spec?

[Exar Kun]

Well all this talk is irrelevant to me now since pulled the trigger and I have purchased the car this evening.

Woohoo - congrats mate! Enjoy the new ride. I loved having a new car the one time I did it.

[Crowella]

Thanks everyone. Hoping to pick it up next weekend.

Congrats mate! What did you end up getting in wha spec?

Octavia Liftback
90TSI Manual
Arctic Green metallic paint.
Few options and accessories including reversing sensors.