So I need to buy a new car. I am thinking of a Toyota Camry. I remember there was this 0% comparison rate offer last year. Is there a chance there would be a similar offer this year as well?
When is the time to buy a new car?
LBeefBiryani on 29/05/2013 - 21:26
Comments
If you have to borrow money at all ask yourself if you could be buying something cheaper. Car loans are a good way to sink cash.
True but I'd rather get a loan and drive a nice car now(and pay interest) instead of waiting a few years until I save up the whole amount.
Interesting point, my accountant tells me to buy using a novated lease. A large part of my salary is taxed very heavily. If I buy using a novated lease via salary sacrifice I normally get a corporate discount on the car in the 1st place then the leasing company normally wears the GST on the car as an input credit (so I dont have to pay it). Some of the onroad costs (rego and stamp duty) I can claim back from pre-tax income a couple of months into the lease. Depending on the cost of the car I might be better off buying brand new than buying a near new 2nd hand.
Cars are a great way to burn money. The counter to this is the surety of reliability and potentially safety if you can replace an older and less safe car with a newer and safer model.
The last few days of the month are the time to buy, because the sales manager wants to get his/her numbers up before the new month kicks in.
Same for June or December because the makers want their Financial Year or Annual sales to be as high as possible. Because of this, there will usually be a bunch of very low mileage 'demonstrators' on offer in January, because the cars that are counted only have to be registered, not actually sold. So often dealers will rego any stock that has been around for a bit so that they get counted in last month/last year's numbers.
Also, end of model is a good time, so look at cars like, at present, Holden Commodore VEII or Skoda Octavia, for instance. With new models coming, dealers want to move current stock so there are deals to be had. Beware though, new models are sometimes cheaper than the cars they replace, as is the case with the new Commodore.
And the best time to buy a car is AFTER YOU HAGGLE! If you do not like haggling, brave up, take a deep breath and do it anyway. You can save a fair bit, especially of you are doing your own finance or not trading in the old car. Even Toyota dealers haggle these days and if you get a sales person who does not want to play, be prepared to remind him that there are plenty of Toyota dealers around and walk out.
Also, do not fall for the extras, like window tinting or rust proofing, that you will be offered. Honestly, if a car is made in Korea and Germany and is going to be driven in balmy old Australia, don't you think that it would be rustproofed before it was shipped? The dealers have massive markups on these deals, and the salesmen or women HAVE to take you through the process. So smile, state up front that you are not interested — once — and don't say another word. Eventually they will get sick of talking at you and give up. If you really want tinting, get it after you buy the car.Sorry - I thought this was the 'When is the time to buy a new cat' thread. Bye.
So I decided to go for a Nissan Pulsar. Cost me 23500 on 0% finance rate for 3 years. Thanks for your help guys.
Nice choice of car, if it's anything like the older models, they aren't as popular as they used to be, but they are reliable and when looked after, will provide you with many years of happy motoring.
Good price too for a new car. I hope you haggled and got some extras thrown in such as mats, alloys, tint etc… whatever you could imagine.
If you have the money
if you have the need
if the cost of fuel, gas or even electricity is affordablethen anytime is a good time. Just do your homework and drive everything and say NO a lot when they chase you.
you cant drive a brouchure, drive, test and check the interent for feedback…
personly holden cruize 1.4T, 1.6T and 2.0 diesel are good but i could have gone a nissan just for the finance offer like my sister did but i had cash and got a way better deal on a 2.0 diesel/auto cruze. Its not a perfect car, it has faults but it came with 5 year warrranty and they will all be fixed for free for a very long time! I am way more expereinced now at 45, i know whats important and real… The same car in a golf would have cost me 20k more - stuff that!
Engines are going stop/start and it will save a little bit on fuel, but you can also make sure you shift into N at lights and then back manualy and that will save you too.
Electric in new not worth looking at but in a used camary ect it is but be looking at wrekers for affordable parts for repairs as dealer parts will scare the crap outa you
electric=hybrid
good for city or less than 60k a day comute… not good for around oz or the drive all day crowd (like me)
All of the above. One point - if anyone has an existing car loan, and wishes to upgrade to 'a nicer model' then we all should be careful of the CAR LOAN TRAP. Buy a car, borrow $15k , start repayments. A new star trek movie is released (time goes buy) car is worth $8k loan worth $¿10k.
New car $30 New loan $30 old loan $$10-8 trade cash Back/whatever = 2$
Now we are new car after driving out of yard $25 Loan $30.
It was called car/personal loan trap when we revheads replaced cars every few years/crashes/impounds.
Do your own sums. If looking for 'nice', sometimes looking at near new speciality cars ie french ones etc, there will be such a large depreciation in year one you maybe able to get a fancy toy a a very good price (price not deal) but you will find the right servo for costs.
. Good luck just do the net position after twelve month ' sums,. :-) w
Huh?? I had to read your comment twice…
Are you sure you need to buy brand new?
Consider getting a 2 year old Camry with a standard 8% personal loan - you could save yourself a bit of money.
However to answer your question. It's a great time to buy a car today or tomorrow (end of month) or the last week of next month (end of financial year). Also, a bunch of cars will be coming off executive leases soon - lots of used deals to be had there :)
Here are some comparison numbers using the 0% interest :)
New car
$35,000 borrowed
0% interest
48 months (most offers are 36/48 months)
$0 a month ongoing fees
$729 per month - total repay $35,000
Used Car
$25,000 borrowed
8% interest
48 months (apples with apples)
$0 ongoing fees
$610 per month - total repay $29,300
Have fun car shopping :D