Thinking of Getting a New Car - When to Buy

avenuel on 05/06/2020 - 23:50

Happy Friday everyone

I was browsing carsales for almost 2 weeks now and really want to get a new car.

My budget is 30-40k on a used car (that ran between 20000-40000km) sedan/coupe - very exciting!!

Many friends told me I should wait until the EOFY sale starts and with the COVID 19 the price seems to be already very reasonable and some private sales seem to be very good as well.

If a private sale is good price and I get a qualified mechanic to do a comprehensive check, I'm thinking if I should just go ahead and purchase or wait until the EOFY..

What are your thoughts?

Is anyone also thinking of getting a new car?

Automotive

Comments

  • websterp on 05/06/2020 - 23:56
    +1

    What are your thoughts?

    Love it! We, the fam is super excited!!

  • randomusername2017 on 06/06/2020 - 00:06

    My budget is 30-40k on a used car

    What's your new car budget?

    • Boioioioi on 06/06/2020 - 00:39
      +2

      I think OP means new to him or her! Used car is way to go IMO OP. Miss out on that depreciation.

      What kind of car do you want OP? Sports car? Or just something to get you from A-B comfortably? If you dont want a sports car, imo get something cheaper. Put your money towards something else.

  • Hybroid on 06/06/2020 - 00:07

    EOFY sales have already started so not sure what you’re waiting for. It’s mostly the crap basic trim models they can’t shift during the year.

  • netjock on 06/06/2020 - 00:07
    -4

    Is anyone also thinking of getting a new car?

    All the time but the arithmetic says no. Some people can't do basic math but you can't change basic law of physics. Depreciation is a lot faster than the perceived intrinsic value to the mind.

    Some people take some kind of mind altering drugs but I'd rather invest it than spend it on a depreciating asset. Unless you're going for a loan with Westpac then please put on your forms you have drunk their cool aid.

    • Hybroid on 06/06/2020 - 00:09
      +1

      That’s great for you. Others would rather put their money towards comfort, safety, convenience or luxury to enjoy life. Or you know, capable of doing both. To each their own.

    • Fredfloresjr on 06/06/2020 - 00:16
      +2

      You are boring. YOLO. Enjoy life

      • netjock on 06/06/2020 - 00:20
        -1

        YOLO with a decent lifestyle in retirement or counting the cents. Your choice.

        • pegaxs on 06/06/2020 - 11:14
          +2

          Assuming you get to retirement… Do what one of the guys did were I worked and put every single dollar he had into his house to have it paid off by the time he was 28. Lived like a homeless guy, eating 2 min noodles and no hot water or heating in his house. Diagnosed with bowel cancer at 27 and was dead by 31. Ironcically, house still wasnt paid off.

          Buying a car now is hardly going to bankrupt you in retirement unless you go way in above your head and get a $75,000 car on a $35,000/year wage. Buying a $30~$40k car is hardly retirement wrecking for the average person.

          You know, or we should all just buy $5,000 used, 187,000km Toyota Yaris manuals…

          • lfsantosl on 06/06/2020 - 13:29

            @pegaxs: This happens only to 0.001% of the population, don’t assume it as a rule.
            Maybe he wouldn’t have had it if he ate decent quality food instead of 2 min noodles. Balance is everything, but living a frugal life and being smart about money and intelligent about taxes will go a long way.

            • pegaxs on 06/06/2020 - 14:44

              @lfsantosl: I didn't say it was a "rule" but an example. You could spend a great portion of your life being frugal and end up all for naught.

              While agree that people should be smart with their money and not wasteful, they should buy within their means, but buying a reasonable car now wont be grounds for eating cat food in the gutter when you're 75…

              I would rather have a lifestyle while I can enjoy it, instead of being a wealthy, wheelchair bound, dribbling all over myself 89yo vegetable.

          • netjock on 06/06/2020 - 20:56

            @pegaxs: If you can pay it off by 28 then it won't be very expensive. Probably living a rural or putter city. What kind of life is that?

            House and cars are two different things. Cars are depreciating.

    • Boioioioi on 06/06/2020 - 00:40

      Do you walk everywhere? Free transport

      • netjock on 06/06/2020 - 10:45
        -2

        Bike. $300 bike. Work is only 6km away and most shops you ever want to go to are within that radius.

        Save $8 return trip on public transport every day. 40 working day payback.

        Comfortable commuter bike too. Not a $2k carbon fibre with tiny hard seat that is so painful it makes you peddle quicker.

    • [Deactivated] on 06/06/2020 - 11:42

      Mushrooms are free my friend :)

      • netjock on 06/06/2020 - 20:54

        Just because it is free doesn't mean you have to eat it. Drain water is free during rain too.

  • netjock on 06/06/2020 - 00:18
    +1

    Others would rather put their money towards comfort, safety, convenience or luxury to enjoy life.

    How do you know OP doesn't have a car that is comfortable and safe. I don't know whether driving around light to light at speed limits between 30 - 110 kph would be called enjoying life. Even if you had a super car it just means you get to 60 kph about 4 seconds quicker than a Yaris.

    Or you know, capable of doing both

    Why don't you find a job being some rich guy's driver? You get paid for all the above.

  • JFFTech on 06/06/2020 - 00:19

    Most dealers are already offering good deals and therefore in my opinion, EOFY offer may not be any better this time (except for cars that are not fast-moving). By the way, I also noticed that most private sales price is higher than the dealer used car price for most cars during this COVID period. You may probably be able to get some demo models at your budget. With most car dealers offering 5 years or 7 years new car warranty and capped pricing, you need to take those savings into account when comparing it with the private sales price. If you still find a better price from private sales, then you should go ahead in my opinion.

  • justaperson on 06/06/2020 - 00:28
    +1

    You've missed the window on getting some of those amazing deals. Stuff was being discounted left, right and centre all through April and early may. Now demand is up again so dealers can pick and choose (to a point) their customers at least in the used car market and I actually know a number of dealers who have increased their prices back in line with pre-covid19 lockdown prices. Might be better off waiting a few weeks before EOFY when dealers want to get rid of their remaining stock, because at the moment they're happy to wait for a customer who will pay the asking price.

  • Muzeeb on 06/06/2020 - 00:49
    +5

    Remember to perform a ppsr check if buying second hand privately.

    Best $2 you can spend.

    • Euphemistic on 06/06/2020 - 09:35
      +2

      And don’t bother with one of the $30 checks. They have no information that is worth any extra over the $2 one. They are purely designed to liberate you from your hard earned.

  • Melb69 on 06/06/2020 - 04:13

    If you need a new car go for it. Look at all the threads for choices and help. EOFY is now the time to buy, but if your not in a hurry just look around during the next few months for the car you are after at the price you want. Your cashed up, go bargain. From the FAM

  • HeWhoKnows on 06/06/2020 - 08:45
    -1

    EOY sales are on NOW!

  • Euphemistic on 06/06/2020 - 09:36
    +2

    The best time to buy a used car is when you find the one you want.

    The best time to buy a new car is after it has already been purchased by someone else and used for 1-2 years.

  • Trying2SaveABuck on 06/06/2020 - 12:40

    RIGHT THE HELL NOW!

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