Buying a new car

Discussion in 'Investment Strategy' started by Beelzebub, 2nd Apr, 2016.

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  1. alexm

    alexm Well-Known Member

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    That's where I was on Saturday getting my new Ducati Panigale track bike dialed in.
     
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  2. charpj

    charpj Well-Known Member

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    Thread needs more pics
     
  3. HappyCamper

    HappyCamper Well-Known Member

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    If you have a solid foundation, I say go for it. You never know what's around the corner. Nearly lost my wife last year to leukaemia (at age 35). Now that she's doing great, and after driving Volvo 240's and other econoboxes for years, we went all out and picked up one of these, my dream car. Thank you Sydney boom!

    image.jpg
     
  4. Corey Batt

    Corey Batt Well-Known Member

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    Correct - would be crazy not to.

    The finance side is pretty boring, there's plenty of websites which have calculators you can play around with which show the net benefit to your situation.

    Essentially I'm just set up for a three year finance period, rolling over to a new car at the end. Dependent on the car and deal you get, it can be fairly hassle free to own a car indefinitely. During the three years I have all servicing covered for $1,140 total over the length of ownership (BMW covers for five years if you wanted to hold the car that long. Also opted for unlimited internal and external detailing, waxing and paint protect etc + replacement car whilst being detailed. Well worth it IMHO, one of my friends has an X5 which he got bat droppings on the bonnet, which are particularly nasty - BMW covered the paintwork repair.

    The BMW brand has really done well in this department, getting more sales across the line and ensuring the second hand market has a steady fleet of maintained cars to keep the market pumping.

    Some brands will offer a guaranteed buyback scheme for a set price, so you don't have any balloon payment surprises.

    For a ~90k car, it costs circa $1,400 per month + insurance/rego. % business claimable dependent on the amount of business use.
     
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  5. Brian84

    Brian84 Well-Known Member

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    Why they just make you lazy.
     
  6. Jungle

    Jungle Well-Known Member

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    How many km you do a year? I have heard it's (leasing) only good for people who do lots of kms
     
  7. mini2

    mini2 Well-Known Member

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    That's old wives tales - phased out in May 2011 for new novated leases. The tiered km's approach is now pancaked into a one size fits all 20% FBT.
     
  8. Phantom

    Phantom Well-Known Member

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    Just out of curiosity Corey, what kind of KM do you usually have after the 3 years? Your servicing costs seem very cheap. Do you ever crack the 100,000km mark? I'd imagine the 100k service would be high. Is the cheap servicing part of a special arrangement with a particular dealer? My friend has an M3 and paid about $600 for the last service at about 40,000km.
     
  9. Corey Batt

    Corey Batt Well-Known Member

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    The servicing package covers up to 80,000km if I remember correctly, that's just a touch over what I'd hit over the three years. The package is offered at all BMW dealers - though I'm not sure if the M series is excluded. Dependent on the series/type you buy the price differs, but it's a fixed cost of $1200-2400 from what I can remember off the pricing sheets.
     
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  10. Sonamic

    Sonamic Well-Known Member

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    @York

    I'm in the auto industry and the "average" Australian does 20,000k's per year. Updating a car every 3 years or about 80,000k's sounds about optimum. Once they hit 100,000k's you will lose a lot of buyers.
     
  11. neK

    neK Well-Known Member

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    What's the issue of keeping a car past 100k provided it continues to run well?
     
  12. Phantom

    Phantom Well-Known Member

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    No issues Nek. But probably loses desirability as people perceive it as having too many km and getting old so values tend to drop a bit after that. Major service at 100k can be pricey too.
     
  13. Bran

    Bran Well-Known Member

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    This is a rule? Wow. Time to go shopping :)
     
  14. Bran

    Bran Well-Known Member

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    Boo.
     
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  15. neK

    neK Well-Known Member

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    I guess I have a tendency to drive jap econo boxes so servicing is generally not too high

    I clocked up 140,000km on the Corolla before I handed it over to my sister. The major service was probably about $700 or so. Not too bad
     
  16. Azazel

    Azazel Well-Known Member

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    They're not too bad, better than the hatchbacks for sure.
    Just seems like we get ripped off here compared to Germany/Austria.
     
  17. alexm

    alexm Well-Known Member

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    What does this mean?
     
  18. Bran

    Bran Well-Known Member

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    Means I have to keep driving a really really crap car.
     
  19. Sonamic

    Sonamic Well-Known Member

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    And there's nothing wrong with that. No Lease, no Loan, no worries. ;)
     
  20. alexm

    alexm Well-Known Member

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    I get it. A bit slow tonight :)
    Just go and get the nice car that you want. Stuff it. Enjoy the rewards.
     
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