New Car Market $ VS Used Car Market $

LMalamuteMayhem on 01/01/2022 - 20:46

Hi,

I need to purchase a car for new job, looking $15~20k mark. I have looked at the used market and it's really inflated as you know. Kind feel it's the worst time to buy but have no choice.

My main question is, Is the new car market price less inflated then the used car market? Seems to make more sense to buy new now if you can if that's the case.

Anyway looking the new MG3 which are in stock around 18k, when prices normalise I assume an MG3 will only go down to 16k or so.

In the used market I have always loved my Ford XR6's, but seem way overpriced.

Open to advice and suggestions.

Thanks

Automotive Car

Comments

  • ajsr8 on 01/01/2022 - 20:57

    You could try and get a new Kia Rio, otherwise go for the MG 3.

    Could probably get a better car if you buy used like a Mazda 3 or Corolla. But I agree, they're overpriced in the current climate.

    • MalamuteMayhem on 01/01/2022 - 21:02

      I like the Kia's, own a Kia sportage but the wife uses that one. I went to Kia, and they said massive backlog on all the new Kia's. MG have stock though at the moment, but warned its soon going to be running out.

  • boomramada on 01/01/2022 - 21:02

    Shitty time to buy a new car, covid plus decisions on investing against fuel vs electric.

    • MalamuteMayhem on 01/01/2022 - 21:03

      Agree, I really don't want to be purchasing one. But my hand is forced. but this comes back to the lesser of the evils, new or used at the moment?

      • boomramada on 01/01/2022 - 21:07

        For your budget I would go for new as second hand car market is shitty.

        • MalamuteMayhem on 01/01/2022 - 21:13

          Tend to agree, i'm leaning that way so far

  • 87percent on 01/01/2022 - 21:22
    +1

    The issue with new cars, and I’ve just witnessed this, is stock availability.

    • MalamuteMayhem on 01/01/2022 - 21:22

      Agree.. MG have stock though from my local dealers

      • danlovescomps on 01/01/2022 - 21:28
        +4

        Yeah because they're mg.

        DYOR but I had a passing interest in the ZST so went and looked at it at the dealership.

        • Very cheap feel
        • Engine is absolute shite
        • Don't forget that this is a Chinese Saic car with an mg badge

        Oh and the cherry on top, look at the "red brake calipers". They are spray painted, and not well either.

        I laughed when I saw that and just walked off the lot

        • boomramada on 01/01/2022 - 21:51
          -1

          That's like a typical Toyota driver comment lol

          • danlovescomps on 01/01/2022 - 23:30
            +3

            @boomramada: Right….I don't own a Toyota but ok mate. My Points still stand

            • boomramada on 03/01/2022 - 14:45

              @danlovescomps: I like how people come here and giving advice on a car without know people's budget or without owning one. I have seen plenty of them around. It's a $18K car with 7y unlimited warranty, what more you want?.
              I don't own or drive either Toyota nor MG. Keep your OP to yourself.
              I remember the time everyone drive around with Hyundai excel. I used to laugh at them.
              Second hand market is shit at the moment, all you see is money trap or bombs.

  • godofpizza on 01/01/2022 - 22:28

    anyone think that prices with new cars are going to get worst? or better in the future?
    noticed the Mazda has increased the RRP for the base model CX-8 from 39K to 44K

    • pegaxs on 01/01/2022 - 23:14

      Then vote with your wallet and buy another brand.

    • Mokr on 01/01/2022 - 23:14
      -4

      Cars are gonna get expensive as they are being phased out. 2025 or 6

      Probably the last year

      • SBOB on 02/01/2022 - 08:00
        +1

        Cars are gonna get expensive as they are being phased out. 2025 or 6

        Rrrrrrrrrrrrrrright……

        • Mokr on 02/01/2022 - 12:27
          +1

          remind me in 6 years

    • spackbace on 02/01/2022 - 11:33

      They're only going to go up in price as they include more safety features etc. Unlikely to see sales on any major brands for a while

  • bobbified on 01/01/2022 - 23:22

    Kind feel it's the worst time to buy but have no choice.

    It's not just a 'feeling' dude…

  • JIMB0 on 02/01/2022 - 09:25

    At least with a used car you don't have to wait for stock.

  • Euphemistic on 02/01/2022 - 10:45
    +1

    Pay a little more for a used car now, buy a popular new car but wait for delivery or buy an unpopular new car and get it tomorrow. Make your choice

    • MalamuteMayhem on 02/01/2022 - 20:06

      Start in a week, so tomorrow lol

      • Euphemistic on 02/01/2022 - 20:28
        +2

        Then you have to get used.

  • kumquat on 02/01/2022 - 11:15

    I'd ring around and get and find stock of the Kia. Don't go the MG

  • Nugs on 02/01/2022 - 11:36
    +1

    Likes XR6's, thinks about MG3. Computer says no
    .

    • MS Paint on 02/01/2022 - 14:57

      They both have 4 wheels to be fair

      • MalamuteMayhem on 02/01/2022 - 20:04

        Agree, i'm not an enthusiast, A to B safely and cost effectively. XR6 isn't cost effective I know but I do enjoy the V6 power / spacious feel

        • MS Paint on 02/01/2022 - 20:47
          +4

          V6 - lol

  • Slippery Fish on 02/01/2022 - 12:31

    Lol if you go new mg atleast you get warranty?

    • MalamuteMayhem on 02/01/2022 - 20:02

      Yeah Kia and the MG 7 year warranty. I always get nervous used cars.

      • Brodo Faggins on 19/01/2022 - 16:35

        Kia & Hyundai's are the new Toyota's & Honda's

        Let's not even think about bringing MG's into this comparison.

  • MalamuteMayhem on 02/01/2022 - 20:07

    Does anyone still know? Average % increase new Vs used? I tried to find charts and analytics but couldn't find anything.

  • nephilim on 02/01/2022 - 20:49

    20k?
    Suzuki Baleno GLX 1.0 Turbo is prob best you can get new honestly.

    Pro: biggest segment after Honda Jazz
    Reliable Suzuki engine
    Get real world mileage of around 5lt/100km for a 108hp engine.

    con:
    Made in India, build quality issues, enjoy the creeks and loud road noise.

  • toecutter69 on 04/01/2022 - 07:04

    Any good tips on buying used? Private vs dealer? Rac checks worth doing? Things to test and look for on test drive, etc?

    • Euphemistic on 04/01/2022 - 07:35

      Yes. Search ‘buying a used car’. Plenty of websites with guides for you.

      It also differs a little depending on your budget. Cheap, older car needs more thorough inspection than one a couple years old.

  • Brodo Faggins on 19/01/2022 - 16:29

    Stay away from MG's. The asking price is cheap - well because cause the build is cheap, from cheap quality products. They like to use aluminium foil as their reinforced steel/alloy & resale value - well forget about that too. Also they blow around in the wind.

    If you want hatchback, you can still get decently new & looked after cars in that range - really depends what you want. I think, first, be specific what kind of car you want / the exact $-figure you want to spend. Otherwise you're choosing from 1000's of cars, all before the headaches of testing them as well.

  • George Washington on 22/02/2022 - 21:47

    Don't buy the MG. We have the MG at work about 60 000km on the clock. I would have preferred to take the train. Rattles and squeaks the car I feel if I was to get in an accident would fall apart suddenly.

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