Should I go for a new car

Qwikslver said:
Well tell us what you currently have, what the repayments are and what you're paying for insurance so we can recommend something for ya.
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Currently rolling in a 2004 Merc C200K.... costing just under R3500 per month.

Probably going to replace it with a 2001/2002 Mazda Driver 2.5TD.... (Basically a DoubleCab is my requirement since I'm finding a need for one nowadays)
 
ToxicBunny said:
Currently rolling in a 2004 Merc C200K.... costing just under R3500 per month.

Probably going to replace it with a 2001/2002 Mazda Driver 2.5TD.... (Basically a DoubleCab is my requirement since I'm finding a need for one nowadays)
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How many payments left?

You always lose when you sell 2nd hand ...
 
Not totally sure but I think about 20.... I'm just about breaking even on trade in now... So private sale should do better for me
 
A Merc should sell quickly on a private sale. What would you want for it?
 
The cheapest car will always be one that is paid off and reliable. Never buy something new or different just because you got an itch.
 
lholhos said:
I am in the same boat as you bud,almost... I drive a citi golf 1.41 "Sport":) which i bought it in Feb 2011 with no intentions of ever selling the car. I bought the car while I was in the process of buying a house, so i thought i must get something cheap so that when I finally get the house i will not have money problems for furniture and other stuff..Now early last month I got hijacked and the car was recovered, my mom and everyone says I must sell the car and get another one because its a risk. I dont really have problem driving this car because its treating my pocket fairly well and I have a mountain of things to do with money(like extending the kitchen of the new house, planning to have a baby, going back to school to Finnish my Btech etc). Now Getting a nice newer car will ruin my 'perfect' plans..... I decided to keep it. Will see in about 9 moths if i decide to get another car. I just dont see myself spending R5000 now, my take home is around R19000....DO NOT CHANGE YOUR CAR, SAVE!!! Hell I will just get a second bond if I can...I would love to drive BMW 1 series, but I will wait.. maybe I don need a car change:D
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Ok you're just risking your life in that thing. Trade it for something cheap but low on theft hijack list (old bulletproof merc, etc) which has a higher safety rating than my ass.

Rest of post applies to the young and the flashy:

Look, if you're earning less than 35k per month nett, don't be ridiculous by buying brand new cars; make some investments (property is a good one trust me), make some real money then you can drive whatever you want. I still very rarely buy a brand new car. It's not in my nature to take such a big knock on my 'investment'.

I drove around in rusty Alfas and Lancia's until I made 'real' money. Screw saving you will always be middle class like that, take the plunge, take some risks while you are young and you WILL see the benefits.
 
Had a baby and that's got me thinking of something bigger. Although I love my current cars - 1.3 and dolphin 316i. Both paid off. I just don't want that payment again. But the pram can't fit in the boot of the 1.3. That's the biggest issue. That's our runner. So ja, what suggestions?
 
akescpt said:
Had a baby and that's got me thinking of something bigger. Although I love my current cars - 1.3 and dolphin 316i. Both paid off. I just don't want that payment again. But the pram can't fit in the boot of the 1.3. That's the biggest issue. That's our runner. So ja, what suggestions?
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Hatchback, with seats that can fold, not bigger ;)
My 5c
 
We had our baby in October and everything stills fits in our cars (Astra G, Corsa D). A few of my friend also used their new additions to the family as reason to buy a new car.

Why don't people just admit they are buying a new car because they want to?
 
IPX-SPX said:
A Merc should sell quickly on a private sale. What would you want for it?
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Pretty much why I will be selling it privately.

I'm still looking around to see what a good price would be, but it will around the R90k range (a bit above or a bit below depending)
 
ToxicBunny said:
Pretty much why I will be selling it privately.

I'm still looking around to see what a good price would be, but it will around the R90k range (a bit above or a bit below depending)
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How many Km? Autotrader is pretty good for pricing your sale.
 
To the OP, I would keep your existing car, rather invest the extra money in property or savings. I did pretty much the same when I was younger, bank ended up asking for the car back. Have only managed to repair my credit record from that fiasco recently, and am extremely hesitant to buy a depreciating value item on credit, I ask myself is it really worth it?. Only debt I plan on getting into now is property, the rest I will pay cash, even if I have to wait a bit longer for it.

B
 
IPX-SPX said:
How many Km? Autotrader is pretty good for pricing your sale.
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Its got 120000 .. give or take a few kms...

AutoTrader is throwing back numbers in the R95 - R110k range... so I should get a relatively quick sale at R90k I would think.
 
Bismuth said:
To the OP, I would keep your existing car, rather invest the extra money in property or savings. I did pretty much the same when I was younger, bank ended up asking for the car back. Have only managed to repair my credit record from that fiasco recently, and am extremely hesitant to buy a depreciating value item on credit, I ask myself is it really worth it?. Only debt I plan on getting into now is property, the rest I will pay cash, even if I have to wait a bit longer for it.

B
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To be fair here, i see a lot of people saying, buy your car cash.
How is this even possible unless you are buying an extremely cheap car?

Any kind of semi decent car is over the 150k mark. And by the time you save up for that, its going to be around the 200k mark.
Now, for your first job, you need a car (im generalising here), so how exactly do you buy this? You obviously want something a little bit reliable thats not going to need maintenance.
50k? 60k for this car?
I dont know many people who can afford this straight out, and unless your parents are wealthy, you need to make a plan.
Hence a loan. Once you have a loan, and are paying off a car, its going to be mighty hard to also save to buy your next car cash.
 
Rouxenator said:
We had our baby in October and everything stills fits in our cars (Astra G, Corsa D). A few of my friend also used their new additions to the family as reason to buy a new car.

Why don't people just admit they are buying a new car because they want to?
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like i said i dont want the payment. i have a hatchback 1.3. the bottom of the pram doesnt fit in the 'boot' so it goes behind one of the seats and wifey sits with the bambino on the other side. a bit cramped sometimes depending on the top that is needed for the outing. im perfectly comfortable with the setup. oh i have a teenager as well. so when its sport time (hockey and cricket with all related kit) it might get dicey.
 
syntax said:
To be fair here, i see a lot of people saying, buy your car cash.
How is this even possible unless you are buying an extremely cheap car?

Any kind of semi decent car is over the 150k mark. And by the time you save up for that, its going to be around the 200k mark.
Now, for your first job, you need a car (im generalising here), so how exactly do you buy this? You obviously want something a little bit reliable thats not going to need maintenance.
50k? 60k for this car?
I dont know many people who can afford this straight out, and unless your parents are wealthy, you need to make a plan.
Hence a loan. Once you have a loan, and are paying off a car, its going to be mighty hard to also save to buy your next car cash.
Click to expand...

Yes, I agree, it is hard to pay cash, and not many people can consider that. Nonetheless, like in the OP's case, it would be silly to upgrade, even if he got the finance. Just keep it within your limits, and try not to buy a fancier car just because your salary has gone up. Unless you are really driving a skadonk, then maybe upgrading within your means is viable.

Like quite a few people did here, do the sums, see if it is really worth it (and affordable).

B
 
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