Should I go for a new car

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tbozzz

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Hi All,

I started working in January and bought myself a VW polo 1.6 2007 model, I was earning R8k(gross) at that time. Now I got a promotion and will be earning double R16k. I still owe around R80k on my current car, I went to VW and test drove a 2012 Polo GTI oh what a car!!!!!!!!! Which brings me to my dilemma Should I go for this GTI selling for R230k with 20 000km on the clock? They offered R70k trade. Me being 23 I shopped around for insurance the most reasonable quote was R1,8k so I should be good if the installment is something like R5k at the most. So should I do it?
 
My own opinion: Pay off the current car first. It is also probably more reliable and cheaper to run than a GTI. The insurance is very expensive, so wait until you are a little older when you can get better rates. The GTI is exciting to drive, I had one for about 18 months, but it chewed up tyres and brakes.
 
This is how you get trapped in the rat race my boy. Don't do it. Pay off what you have (or sell it and buy something cash). Make money, so one day you can really drive and do whatever you want. GTI is not exactly a Porsche.
 
if that is 16k gross, you will only be going home with about 13k after deductions. Are you willing to spend half your salary on a car? Its ridiculous. Keep the 1.6 polo
 
His 23! Of course he want to go vroooooom! But that insurance is crazy though! By the way, what job let's u double your salary within a year?
 
You're earning R16k gross and want to buy a R230K car? :wtf:

Typical champagne lifestyle on an Oros budget. :p
 
A car is not an investment. Make do with the bare minimum that suits your needs.
 
tbozzz said:
Hi All,

I started working in January and bought myself a VW polo 1.6 2007 model, I was earning R8k(gross) at that time. Now I got a promotion and will be earning double R16k. I still owe around R80k on my current car, I went to VW and test drove a 2012 Polo GTI oh what a car!!!!!!!!! Which brings me to my dilemma Should I go for this GTI selling for R230k with 20 000km on the clock? They offered R70k trade. Me being 23 I shopped around for insurance the most reasonable quote was R1,8k so I should be good if the installment is something like R5k at the most. So should I do it?
Click to expand...

R16k gross:
- R2200 (tax)
- R700 (cheap health plan, which you will use once your inexperienced ass crashes the car)
- R3000 (for rent of shack once you move out of mommy's home)
- R1000 (for bare minimum groceries)
- R200 (for cellphone to call your homies to come check out your ridiculous purchase)
- R5000 (for overpriced shoe that is really closer to R6k pm with current low interest rates)
- R1800 (for insurance which will rise when your inexperienced ass crashes the car)

Which leaves you with about R2100. Now you still have:
- fuel (to drive shoe around)
- internet (so you can facebook pics of sweet ride...which is actually a very uncomfortable car with that stupidly hard suspension)
- maintenance (the car doesn't come with a maintenance plan standard IIRC, so check that)
- spending money (because you want to go dive around drunk in the ridiculous car to pick up hawt chicks in clubs and stuff)
- save (but who the hell cares at 23 right. Saving is for boring old people, like 25yo's)

The look on your face in 3 months time when you realised you made a MASSIVE mistake: priceless
 
stick with your current car and invest the new money you get.Dont be pressurissed into looking cooler with a new car.It is the same mentality that makes lots of South Africans poorer than they should be and a few rich
 
Don't be so hard on the guy guys, he's 23. :D

But sadly, OP, they're right!
 
R1800 for insurance? Do you have your household insurance included in this or is that separate? If you add household and car insurance on the same policy, you might end up paying less for both together.

I bought a Audi A3 1.8T when I was your age 2nd hand for R1100000.00. Was great!

I will not suggest buying a new car for now...or rather R230k...
 
At his age I bought Polo TDi @ 90000km. Paid R130k for it. That diesel was awesome and I could VROOOOOOOM (to get back down to OPs level) past almost everyone. :p
 
dizz16 said:
R1800 for insurance? Do you have your household insurance included in this or is that separate? If you add household and car insurance on the same policy, you might end up paying less for both together.

I bought a Audi A3 1.8T when I was your age 2nd hand for R1100000.00. Was great!

I will not suggest buying a new car for now...or rather R230k...
Click to expand...

Way too many zeros there bud :eek:
 
Noooooooooooooooooooo.
tbozzz said:
Hi All,

I started working in January and bought myself a VW polo 1.6 2007 model, I was earning R8k(gross) at that time. Now I got a promotion and will be earning double R16k. I still owe around R80k on my current car, I went to VW and test drove a 2012 Polo GTI oh what a car!!!!!!!!! Which brings me to my dilemma Should I go for this GTI selling for R230k with 20 000km on the clock? They offered R70k trade. Me being 23 I shopped around for insurance the most reasonable quote was R1,8k so I should be good if the installment is something like R5k at the most. So should I do it?
Click to expand...
 
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