Wondering what drives people to change their cars. Do you buy a new car when the old one reaches a certain age or k's! Do you buy because you are bored with your existing car and want a change. Perhaps you are either broke and need to raise some cash or have inherited dads farm and want to splash out. Would be interested in your feedback.
budgel,
Oct 26, 6:34pm
I never borrow money to buy a car, so when I have funds I may consider that my existing vehicle is ready for replacement and start looking for a good deal.
shorebee,
Oct 26, 6:35pm
when bored or needs determine, cars are tools - they dont need to be kept like a wife or appliance, upgrade when required.
smac,
Oct 26, 7:04pm
You're mortgage free!
mugenb20b,
Oct 26, 7:50pm
I buy a new car when I want to (rather than need to) upgrade. And the only reason for that is safety features.
However, I also buy a car if I can make money off it, and I always pay cash. I never finance a car.
In the past, I wanted to go off road for a bit of fun, so have bought and done up several 4wds, but now that I have 4 kids and 3 mortgages, priorities have changed a bit.
kazbanz,
Oct 26, 10:59pm
I just buy cars cos I can. sometimes cos of a pretty color sometimes cos I think theyre cool.Prolly should sell a few now and then
bowla3,
Oct 27, 12:43am
Sold my 1939 Chrysler about 1969 because it was getting a bit old. I reckon that was a good reason to upgrade. Know a couple who get themselves a new Holdenevery year or maybe 2. Never do more than 30 000. She just likes to let everyone know they are RICH. That's not a good reason to upgrade.
utwo,
Oct 27, 1:05am
LOL. I can't say I've ever looked at someone driving a Commodore and thought, they must be rich! I'd just assume they're driving a company car or a rental from Avis.
I had a client turn up in an Audi RS 6, then the next day they were driving a new Aston Martin. I'm thinking they probably like people to know they're rich :-)
skull,
Oct 27, 1:25am
Yes and a lot of that sort are tight as a fishes arse to deal with too!
raymond00001,
Oct 27, 1:37am
I also pay cash for wagon, never finance it. Drive it till its dead or attracting too much enforcement attention/repair costs etc. Now on Car number three. Never worry about resale value its never an investment as some try to believe. Just a money pit thats justifiable while it obeys the order to start in the morning.
jason18,
Oct 27, 1:41am
Ya cant take your money to the grave. Enjoy it while you have it. Altho im probably the opposite. I like saving my money so I contradict myself
smac,
Oct 27, 3:18am
OK that's a few too many. All you guys who say you pay cash have no mortgage! Huh.
r15,
Oct 27, 3:41am
i buy one when i feel like something different, never new, and so far not over $20k,usually keep them for a couple of years, then sell for a profit afterwards. then do a slight upgrade & repeat
flybye_in_a_rx7,
Oct 27, 5:17am
i thought we were just talking about cars not houses. i get a new car cuz i get bored , i've had my current car for 3 years now which is a record, time to get a new one now though i think. i've never financed a car either
thewomble1,
Oct 27, 7:06am
When the ash-tray is full.about time to start looking.yep look but not necessarily buy.
mugenb20b,
Oct 27, 2:45pm
Yep, 3 mortgages, I paid $7200 cash for my last car, 6 months ago.
casper35,
Oct 27, 2:58pm
We have a mortgage and still saved to pay cash for our 3 cars. Mine, wifes, and the caravan puller.
smac,
Oct 27, 10:20pm
My point is, if you have a mortgage, but say you paid cash for the car, it simply means you don't really understand the financial side of it. You still have a loan in place that is (in effect) covering your spending.
edangus,
Oct 27, 10:24pm
Variety is the spice of life. I normally have a favourite I keep an dswap out the others. I swap cars instead of women, its cheaper and safer.
casper35,
Oct 27, 11:47pm
Your mortgage shouldnt control the other things you do in life,you are dead a long time.
smac,
Oct 28, 1:26am
Absolutely, I'm not saying don't do it, hell I put my last purchase on the house. I'm simply pointing out that they're kidding themselves if they think they are 'cash buyers'. The fact is they probably would have been better off putting the cash they were saving on the mortgage, then getting a top up (on the house) when they bought the car.
mugenb20b,
Oct 28, 2:35am
Sorry, you've lost me there. Are you saying that one is better off buying a car by adding it to the mortgage!
gammelvind,
Oct 28, 2:56am
Hell yes I've tried both several times, cars are MUCH cheaper lol
smac,
Oct 28, 3:30am
Better off than what!
cummingsra1,
Oct 28, 3:46am
I think he's saying instead of saving X thousand dollars in a savings account, earning not much interest, and then paying 'cash' that you can see as a credit balance in a savings account; it would be better for your mortgage position to pay the regular savings amount into the (floating) mortgage (thereby reducing the principal and effectively earning 6-odd % interest on your savings) and when you are ready to purchase the car, you withdraw the saved amount from the mortgage. Basically, it is of no benefit to run a credit balance in a separate savings account while you have a mortgage.
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