Cars & Motorbikes Car Finance Tips

Bayview, here is a business idea for you..

 

Nah; I prefer the smell of stale dog, stale cigarettes, and mould from damp....get a fix every day.

 

If cars are primarily just a means of transport then definitely buy used. However if you want peace of mind and get a kick out of having the latest model, then determine whether it's worth paying the extra depreciation. Letting a spreadsheet determine your car purchase will satisfy your bottom line but it may not satisfy your emotions. Yes this sounds silly, but everyone is different

 

I've had new and used (probably like everyone here), and I've found the thrill of a new car is not much different whether it's a new new car or a new used car....another tick for not buying new and getting bent over.

 

On the topic of finance, I was offered 1.99% when I bought my Lotus. Was a great deal and you'd have to be at the pokies to not find an investment with a higher return. (however I didn't take it as I didn't want to take any chances re serviceability for the new PPOR)

 

Woah wait you have a Lotus?

Details dude. Details

 

2014 manual supercharged v6, 345hp mid engined but with 2 small rear seats (like a 911) and a boot big enough for 1-2 golf bags. insane fun on the road, and out of this world on a track


(more pics here)

 

Stunning. I've only punted a first gen k series Elise and that was great. Can only imagine how good that is.

 

My Lexus was 3 and a half years old with 31,000 on the clock when I bought it earlier this year. Cost me less than half of the new car price. Still had 6 months of the original 4 year factory warranty left on it plus could extend with factory approved extended warranty (not that dealer specific worthless rubbish) for another 3 years. May as well be a new car but with nothing like the new car price tag.

 

ARE YOU LISTENING, FOLKS???

We have a winner!
Well done, Dave.

 

In my particular case, I was choosing between a used 2012 car (with issues that are expensive to fix once the warranty runs out [which it has now]) or a new 2014 car with those issues remedied at the factory.

Every case will be different, and not every case will prioritise the purchase price as the major determinant of the bottom line and ownership experience.

For the vast majority of car buyers though, a well-looked-after second-hand car is better value.

 

Was this for the Lotus? Can't blame you for buying that new. I'd imagine heaps on the used market would have been tracked and crashed and even others that haven't been tracked may well be bought by certain types who drive around in 1st gear all day trying to impress their mates wearing white caps, so they'll have 15,000km on them and the engine will be stuffed.

 

Yep the Lotus. Also wanted to buy from the Sydney dealer who are primarily a race team, and were eager to accommodate first service requests like "can you raise the brake pedal a bit higher so it's easier to heel-toe my downshifts?"

(first service cost was $204 including oil btw)

 

All good until you get new driving boots... ooo actually that would make a great excuse for some of F1's finest... yes I lost again in qualifying because I got new driving boots this week and the soles are 0.002mm thicker than the old ones and not only does the extra weight upset the balance of the car but now my pedals needed to be adjusted again and my mechanic couldn't be bothered.

;-)

 

So keen to buy a new (second hand car). Currently driving wifes 2006 Lancer worth about $5k. It is very cheap to run and reliable. This makes the decision to trade it even harder, but it is so boring.

I am a car enthusiast so badly want a new car, thinking 2012 Subaru WRX STI for around $38k. Trying to delay it by setting myself target, eg as soon as subdivision is complete or block has been sold. This has kept me going for the last 6 months but not for much longer. I dont want the new purchase to hurt my refinancing so i need to be careful.

 

Pay cash for the car and don't finance it?

Now that we're back on topic, how is car finance (and other non-real-estate finance) treated in serviceability calcs? Same or worse as RE finance? Or just dependent on the finance rate and amount?

 

My car is 13 years old and while it's not pretty on the eyes, it does exactly what I need it to and gets me (and a whole bunch of crap) from A to B.
I wouldn't replace it until it falls apart, but for family planning reasons, we might have to get a new car some time soon, but when we do, there's no way we'll consider getting a car loan.