At what salary point would you replace your car

[PPLdude]

That. I drive a 10 year old car ( 105k on the clock ) , wife drives a 8 year old car ( 101k on the clock ), both are fine, well maintained , PAID OFF, and our real money goes towards our home and children.

Which would you rather have: s****y car or own home (bonded) ?

*edit* lol at filter , s-w-a-n-k-y

At my age... a lekker car :crylaugh:

 

[saturnz]

At my age... a lekker car :crylaugh:

13 years ago a friend of mine bought a brand new golf 5 GTI for 250k, at the time I purchased a 1992 Opel Superboss for 30k cash

fast forward to now, a few years ago he sold his car for 150k, highly upset that he "lost" 100k, my Superboss I haven't driven in years has at the very least maintained its value (if you can find a superboss for 30k today)- I doubt I will sell it or ever have the need to sell it.

 

[rietrot]

Spent just over 5k this month on my car. Around 15k within 6 months

Find a better machanic or learn to drive properly.

 

[Sly21C]

I'm still young (20) and really want to get a new car.

However I'm not sure if it will be in my best interest financially...

My Ford Fiesta 2006 just isn't doing it anymore :erm:

Do I really need to be saving all that I can now? Even though i'm certain ill be getting paid a lot more in about 5-6 years

How much should you be earning for it to be financial feasible?

Don't replace your car if you can help it. A car is an instrument that makes lives easier by taking us from point A to point B. They are faster than horses, hence why they had mass adoption even though they were very expensive. The problem with today's society is that marketing has convinced everyone that the most expensive car should be bought. That we must buy a car to fit in. That we must buy a car that is similar to our friend's cars in terms of price. That we must buy a car that is blue, pink, colorless, etc. That the car must have electric windows, cruise control, etc.

The fact is that cars are one of the biggest reason the middle class remain poor and highly indebted. We have been conquered mentally by big business through adverts to buy cars we can barely afford monthly installments for. The same way cheetahs strategize and hunt for food, is the same way business people strategize and hunt to get money (value) out of us, i.e. they brainwash us and condition us into buying cars every 3 years, to buy the most expensive cars we can afford, etc. We become mentally conquered as soon as we exchange our money (that we spend 8 hours a day, 5 days a week, 12 months a year, etc, working very hard to get) for some shiny metal with some impressive illuminating electronic gadgets inside it. And what happens after 3 years or slightly more? We buy another car, the cycle of giving money to the rich or to business people continues. Then we complain when the petrol price goes up. We don't realize that it's not only Zuma that is wasting and stealing our money, but it's us as well by giving in and being mentally conquered by these clever business people who have conditioned us from a young age to sacrifice our money for shiny things.

 

[Kosmik]

Find a better machanic or learn to drive properly.

Some old cars just pack up, especially if you fix one component and it puts pressure on another part of the system.

But 2006 car should still be fine, drove a '82 Peugout 305 for a while until it literally fall apart.....then sold it for R1k

 

[PPLdude]

Find a better machanic or learn to drive properly.

I've never crashed, scraped or damaged my car in any way (Touch wood)

The previous owners did a **** job maintaining it, or took it to a handicapped mechanic unfortunately

 

[Drifter]

If he can even get the damn thing insured. It's tough getting a performance car insured when you're under 23 years old. The premium is also going to be quite rough.

With that being said, if you can really afford it, go for it. Life is short - enjoy it. Just realize that most cars lose their luster very quickly. You don't want something that puts you into debt for five years, that doesn't do anything for you. That's why I loved my 86. Fun car to drive, looked good, and I got it for a good price. These days they're incredibly overpriced, mind you.

You bought an 86....LOL... drunk Homer simpson comes to mind.

 

[PPLdude]

Don't replace your car if you can help it. A car is an instrument that makes lives easier by taking us from point A to point B. They are faster than horses, hence why they had mass adoption even though they were very expensive. The problem with today's society is that marketing has convinced everyone that the most expensive car should be bought. That we must buy a car to fit in. That we must buy a car that is similar to our friend's cars in terms of price. That we must buy a car that is blue, pink, colorless, etc. That the car must have electric windows, cruise control, etc.

The fact is that cars are one of the biggest reason the middle class remain poor and highly indebted. We have been conquered mentally by big business through adverts to buy cars we can barely afford monthly installments for. The same way cheetahs strategize and hunt for food, is the same way business people strategize and hunt to get money (value) out of us, i.e. they brainwash us and condition us into buying cars every 3 years, to buy the most expensive cars we can afford, etc. We become mentally conquered as soon as we exchange our money (that we spend 8 hours a day, 5 days a week, 12 months a year, etc, working very hard to get) for some shiny metal with some impressive illuminating electronic gadgets inside it. And what happens after 3 years or slightly more? We buy another car, the cycle of giving money to the rich or to business people continues. Then we complain when the petrol price goes up. We don't realize that it's not only Zuma that is wasting and stealing our money, but it's us as well by giving in and being mentally conquered by these clever business people who have conditioned us from a young age to sacrifice our money for shiny things.

The thing is, it can have roll down windows, no gadgets, etc. It's the engine and drivetrain im interested in.

I just want to drive it for fun and be able to throw it around corners

 

[Mike Hoxbig]

drove a '82 Peugout 305 for a while until it literally fall apart.....then sold it for R1k

Nice, that's R1k more than I would have paid for it

 

[Mike Hoxbig]

You bought an 86....LOL... drunk Homer simpson comes to mind.

At least it doesn't catch fire unlike certain brands...

 

[Cius]

Still driving the tazz I was driving from when I first started working 12 years ago. We paid cash for it at the time and it is largely the reason I am in any kind of good financial shape. Cars destroy so much wealth in SA. I am almost debt free and after that I will consider upgrading it to something a little nicer, like a Honda Balade or Jazz or something.

Unless the car is costing you a lot in maintenance or is very unreliable and hence impacting on your job I would not recommend replacing it. If you do look for reliability and cost effectiveness.

 

[Messugga]

You bought an 86....LOL... drunk Homer simpson comes to mind.

Why? I had one of the first 86s in the country. Paid R270k for it, at a time when a Golf 7 GTI was R400k (I know, I bought one of those not long after as well). It was an excellent car for what it was, back then, especially in terms of value. The MX5 was quite a lot more expensive. Very few good driver's cars in that price bracket. It wasn't too dissimilar in price from the Polo GTI, if memory serves. I actually think the 86 was cheaper.

Anyway, sold it a while ago and now I have a 330d. Very, very different car, but then, I'm old and boring now.

 

[VikashLurker]

All responses are really good and sensible. However I am going to take a different angle here.

If you already saving 50% of your salary, you seem sensible enough, and living well within your means. If you able to afford a better more exciting car then I would say go for it. Sell the ford privately, put some extra cash together and then buy something more appealing to you. If you can buy it outright, that would be a win.

While planing for the future is essential, you also need to enjoy life a bit. If getting a new set of sportier wheels is going to make you happy, go for it! I am really glad I bought the cars I did when I was young. I had the fast hatchbacks, I had the booming sound systems, I did the chip tuning and track day thing. Now as I am in my late 30's with 2 kids, I have the responsible vehicles i.e SUV and paid off Honda. I've scratched the itch when it mattered most to me, and I am satisfied. I have no regrets. But then again, I am a petrolhead.

If I didn't do it then, I doubt I would ever do it.

 

[Barbarian Conan]

Don't replace your car if you can help it. A car is an instrument that makes lives easier by taking us from point A to point B. They are faster than horses, hence why they had mass adoption even though they were very expensive. The problem with today's society is that marketing has convinced everyone that the most expensive car should be bought. That we must buy a car to fit in. That we must buy a car that is similar to our friend's cars in terms of price. That we must buy a car that is blue, pink, colorless, etc. That the car must have electric windows, cruise control, etc.

The fact is that cars are one of the biggest reason the middle class remain poor and highly indebted. We have been conquered mentally by big business through adverts to buy cars we can barely afford monthly installments for. The same way cheetahs strategize and hunt for food, is the same way business people strategize and hunt to get money (value) out of us, i.e. they brainwash us and condition us into buying cars every 3 years, to buy the most expensive cars we can afford, etc. We become mentally conquered as soon as we exchange our money (that we spend 8 hours a day, 5 days a week, 12 months a year, etc, working very hard to get) for some shiny metal with some impressive illuminating electronic gadgets inside it. And what happens after 3 years or slightly more? We buy another car, the cycle of giving money to the rich or to business people continues. Then we complain when the petrol price goes up. We don't realize that it's not only Zuma that is wasting and stealing our money, but it's us as well by giving in and being mentally conquered by these clever business people who have conditioned us from a young age to sacrifice our money for shiny things.

Some people thing of cars the same as washing machines. Just a tool to get from A to B.
Others buy them for fun or comfort. I sometimes just get the urge to go drive and it sounds like static does too.

 

[SaiyanZ]

Buy something you really like, then pay it off, take care of it and keep it for as long as possible. I did some research for a few months before purchasing my current car. This was back in 2010 and it was a 5 year old 350z for R190k at the time. Reason I got it was because it was the best looks/performance car with a reasonable price tag 2nd hand at the time and it also was built rock solid without issues that turn up in some cars. I paid it off after a year and have kept it since then. It still looks like a brand new car even though it is now almost 13 years old and I haven't paid a vehicle installment for over 6 years now. I cringe at people buying new Polos these days for over R200k.

 

[Messugga]

Buy something you really like, then pay it off, take care of it and keep it for as long as possible. I did some research for a few months before purchasing my current car. This was back in 2010 and it was a 5 year old 350z for R190k at the time. Reason I got it was because it was the best looks/performance car with a reasonable price tag 2nd hand at the time and it also was built rock solid without issues that turn up in some cars. I paid it off after a year and have kept it since then. It still looks like a brand new car even though it is now almost 13 years old and I haven't paid a vehicle installment for over 6 years now. I cringe at people buying new Polos these days for over R200k.

+1. New cars are just stupidly expensive. My next car will likely be something small, with a SUV of some form for the wife. If I have the space, I'll get a classic sportscar of some form, like an old 911, as a toy that can sit in the garage and come out when the weather is nice.

 

[Sly21C]

Some people thing of cars the same as washing machines. Just a tool to get from A to B.
Others buy them for fun or comfort. I sometimes just get the urge to go drive and it sounds like static does too.

I think we live in a society whereby a lot of people feel like if they are CAs or Doctors then they HAVE TO drive a German luxury sedan for example, mostly to fit in and also for status and social acceptance. But I hear you, everyone has a right to do whatever they want. I wanted to try see if I can't change his mind . I'm anti luxury car purchases using credit, but also respect other people's rights to do as they please.

 

[Sinbad]

All responses are really good and sensible. However I am going to take a different angle here.

If you already saving 50% of your salary, you seem sensible enough, and living well within your means. If you able to afford a better more exciting car then I would say go for it. Sell the ford privately, put some extra cash together and then buy something more appealing to you. If you can buy it outright, that would be a win.

While planing for the future is essential, you also need to enjoy life a bit. If getting a new set of sportier wheels is going to make you happy, go for it! I am really glad I bought the cars I did when I was young. I had the fast hatchbacks, I had the booming sound systems, I did the chip tuning and track day thing. Now as I am in my late 30's with 2 kids, I have the responsible vehicles i.e SUV and paid off Honda. I've scratched the itch when it mattered most to me, and I am satisfied. I have no regrets. But then again, I am a petrolhead.

If I didn't do it then, I doubt I would ever do it.

When the kids are grown up get yourself an amg

 

[Goosfrabba]

I have a 2008 i10 that should be paid off by next September/October. I've already decided that I'm going to keep it for another year or 2 after that and simply keep the monthly instalment aside during that time. At the very least it will provide a very handle deposit.

I've done about 125 000 km's on the car with an expected annual mileage of 12-15000 km. If I look after the car there is no reason it shouldn't last me a good few years to come. The reality is that a 2008 i10 resale value probably won't be that great so I am better off getting utility out of the car when it's paid off. It's tempting to trade in for something flashier but just doesn't make much financial sense.

At 20, you have the advantage of age on your side. Even just R500 p/m into an RA now would be a huge benefit to you.

 

[ToxicBunny]

When the kids are grown up get yourself an amg

Just not the one you bought hey?