If i had only $500, then I would buy a $500 car, if I had $10,000 then I would probably only buy a $3000 car and save the rest. It's crazy borrowing large sums of money to buy a car you can't afford and then spending years paying if off, plus interest.
johnf_456,
Feb 2, 7:22pm
Yip I agree, or the sort that finance 3,000 wheels on there crap box with big interest.
jason18,
Feb 2, 7:24pm
Oh well thats what keeps the world ticking over. If people want to finance let them. Who gives a sh*t
johnf_456,
Feb 2, 8:03pm
while, I agree this is not his point. I think hes getting at the people that buy a 10k or even 16k car when they can simple not afford it, then like most they can't keep up with payments and its get confiscated by the good old debt collector.
rsr72,
Feb 2, 8:20pm
And the country borrows more and more from overseas banks and investors and a reason why the government keeps telling us the country's broke. All the finance comes from wealthy overseas investors bleeding NZ dry because someone can't afford a $1,000 banger.
tgray,
Feb 2, 8:31pm
As a dealer, I don't think I would be comfortable signing up a poor south AK family with 4 kids in tow, to a 5 year car financing deal on a car that is clearly not meeting their needs (shiny rims, large V6 etc), althought if they meet the lending criteria, who are we to judge what they do with "their" money. What do you think Kaz!
1grasshopper,
Feb 2, 8:51pm
I have had a car on finance before and was considering getting another one (was talked out of it by the lovely people on here).After paying off our last car (paid around $19,000 for a car that was worth maybe $5000 when we finished paying) I said I would never get a car on finance again.The reason we were considering it was that our current car bent the valves and the quotes I had for fixing it were more than the car was worth so we would be losing money anyway. We also had no money saved to buy a new one (our mechanic friend is fixing ours now for $4000 less than what the most expensive quote was)
sifty,
Feb 2, 8:52pm
where do you stop! Should people buy large screen tellys on tick! Have Sky tv when they can't afford shoes! Smoke, drink at all.!
As long as I don't end up bailing them out (or they are taken advantage of by shady practices, Instant Finance I'm looking at you)I say let them learn by their own stupidity.
Far more of a mystery to me is why kids spend umpteen thousands on a mediocre shopping trolley like my old Mum used to drive!
clickityclick,
Feb 2, 8:59pm
It's really not that hard to understand :s. If you want something reasonably reliable you're going to have to pay more than $500. Or is the real question: "why are my fellow motorists not as affluent as I!" Everybody has a reason for what they do and SURPRISE they don't require/seek your prior approval.
richardmayes,
Feb 2, 9:12pm
kazbanz is onto it.
Obviously you have to do your own maths, and steer clear of the more obscene interest rates.If you want to buy a $10,000 car, doing it on tick over two or three years might mean your $10,000 car ultimately costs you $13,000 or $14,000, and you need to understand this and budget for it. But if you can afford the regular repayments and still meet your mortgage and put food on the table, then is that a disaster! The Difference between one buyer's haggling skills and the next could affect the price of a car more than that.
What the buyer was doing before financing the new car is part of the equation too. If you are driving a high-mileage bomb worth about $1,000, and its maintenance is costing you over $1,000 a year, all of a sudden the interest cost of the loan for a much newer car doesn't look so bad by comparison does it!
And once you buy the car and start making an AP of $200/fornight on the day after payday, all of a sudden you find that you have less money to piss up against the wall on takeaway coffees etc than you used to. Perhaps you would rather have fewer weekends away for the next couple of years, but a nicer car to go in when you do head out of town!
mr_lovebug,
Feb 2, 9:35pm
Not read the whole thread.
My wife & I brought our current car from a dealer (on tick) and the total was $500 below, twice the window price.
The reason we did it was that we couldn't get money put aside & we could afford the repayments.The old car was costing us $400 to $700 at EVERY WOF (3 years of this was more than a joke)& we had a pre WOF done & it was going to be $2,000 cos it was not worth fixing.
We also had dealership support.Had a slight problem & they helped fix it.Unlike the last car I got privately.
The biggest problem today is that car dealers are having problems finding cars themselfs & the cars are much higher grades than what some people are looking for or at.
Often there is many reasons that will come into play.
Personally I have had many old cheap cars BUT as they get MORE stuff in them I lean towards getting better cars from dealers etc.
elect70,
Feb 3, 1:56am
people on the dole , solo mumsetc , no savingsjust put it on tick for as long as possible for lowest monthly repayments . The cost doesnt come into it . Yanks change carsevery year or 2& only care what the repayments are per monthnot the cost of the car .Makes the world go round . Places like Ezy Buy thrive on itas $ is in the finance not the sale of the car .
bendean,
Feb 3, 6:02am
if you dont have the money saved but you can afford a hundybuck ap every week then wots the problem
zephyrheaven,
Feb 3, 8:04am
Just got a 2000 GTB off a mate that paid $16000 for it 3 years ago, I paid him $1500 & he still owes $4000 in finance on it - he has since paid it before everyone gets all high & mighty
Pretty scary
Only ever lost on one car in my life, lost $1010 on it & it will keep me awake at night forever lol
How people tick up huge debts like this is insane, I own everything I have (apart from the house, but the bank only owns a wee bit of that now)
Not bad for 34
casper35,
Feb 3, 8:15am
A car salesman i talked to last month when i was looking at cars not buying just browsing said 75% of cars they sell are on HP, and they werent cheap cars either.
neville48,
Feb 3, 8:23am
same reason people buy chrisco,s i would guess,people live from day to day and h/p is one way of living day to day. not everyone has spare money or any money come payday or 500 bux to buy a dunga,thats where h/p etc comes in,makes it possible to step into the dream.dont knock it if ya aint been there.
chris_051,
Feb 3, 9:17am
This is the problem right here. Too bad those fools that do don't take into account depreciation and interest to knock them back into reality, all it does is put them 5 years behind. $70/week would do wonders in a savings account over the time it takes to pay off a car. A $500 shitta is worst case senario and a lame excuse to feel good about ticking up a car. $3000 will get a very decent car these days, there is no excuse for ticking up 10-20 grand worth of depreciating vehicle apart from the look at me factor/small cock syndrome/insecurity.
neville48,
Feb 3, 9:37am
$3000 will get a very decent car these days,
correct and ticking up 3 grand is the only way some people can make it. the need for a car is everyday living now and h/p makes it possible,as you say it doesn't have to be10-20k and look at me has nothing to do with it,or your other fairly desciptive bollox,its just the need for a vehicle for a person that is not a financial wizz to any degree and/or just lives from day to day. theres a lot of them around.
clark20,
Feb 3, 9:49am
What you haven't considered is the "I only have a mortgage,everything else is paid for" comments. No, everything is a debt, as it could be sold to pay off some of the debt. Its all the same - you owe money.
bendean,
Feb 3, 9:55am
if someone wants to tick up a 10-20g car then fine u cant tick it if you cant afford they simply will not lend to you if you cant and if you loose your job well thats fine as majority have compulsary loan insurances which you do pay for so you use it if you need it,depreciation is the same on ya 500buk crapper but its more likely to be that it craps out and u get 70bukz from the metal man it aint got anything to do with the size of your cock if you can wait then yes save 70 buks a week and pay 10-20g cash ull save interest but you wont change anything on vehicle depreciation it to do with kms and wot knick its in not wether you ticked it up or payed cash.
johnf_456,
Feb 3, 9:56am
Prevention is a better than a cure as they say (concentrate on the driving)
chris_051,
Feb 3, 10:17am
I'm guessing you have a car on tick. Maybe you should sell, buy a $2000 shitta and spend the rest on financial tutoring. And surely when you applied for the finance you'd see how the figures get manipulated to show you can afford the payments, or maybe you're more naive than what you're leading on (post #20).
bendean,
Feb 3, 10:29am
yea mate i got a loan from my bank consolodated a few other debts and mate you dont just rock in and get it you have to show you can afford it im not much of a saver, well not for that amount but i can afford it and im not afraid of it to me its fine it was my call maybe you are scared of debt or youve got a sour taste in ya mouth coz u were denied!, anyway wots the big deal about it i needed a car and thought why not spend 9g so i ticked it and got a decent car that i like and am happy with tell me wots wrong with that!
kaymay88,
Feb 3, 11:52am
not everyone has 5k sitting around in cash to buy a reliable car. if everyone only ever paid cash, our economy would be fucked. borrowing and circulating money is a massive part of what keeps our economy bouyant. I can agree if you are saying, why does a family get a 30k car loan to buy a car when an 8k car would do everything they want, but if youre saying people should never borrow for a car, then Id have to ask just how ignorant you are.
unideck,
Feb 3, 12:01pm
This should explain the finance deal a bit better lmao
It is a slow day in a damp little Irish town. The rain is steadily falling and the streets are deserted. Times are tough, everybody is in debt and everybody lives on credit. On this particular day a rich German tourist is driving through the town, stops at the local hotel and lays a ?
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