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Major purchases as percentage of income

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McLovin said:
And if you buy and Australian, Thai or NZ made car you won't pay the tariff.
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I didn't realise there was any car manufacturing in NZ? I know that they do manufacture more things than you might expect in NZ but I never realised that cars were among them.
 
Smurf1976 said:
I didn't realise there was any car manufacturing in NZ? I know that they do manufacture more things than you might expect in NZ but I never realised that cars were among them.
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They might not. Although, I thought one of the Japanese companies still manufactured something there.
 

That's quite a lot of "if"s buddy.

Most decent cars are 2-5 times more expensive in Australia than overseas. That's a lot.
 
prawn_86 said:
On the total of the car, personally i would never get a loan for a car
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McLovin said:
+1
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pixel said:
+2
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I find it interesting that people would never get a loan for a car. I highlight that because I'm wondering if people have made a decision here...and believe that circumstances remain unchanged since they decided it was a bad idea. For the most part getting a loan for a car is a terribly bad idea. You're buying something that depreciates in value relatively quickly. Add on to this loan repayments and you can end up in a situation where you're paying a loan on something that you couldn't sell to cover the principle. If you are required by circumstances to sell the car, you can end up worse off than when you started.

However I got two new cars for my wife and myself 12 months ago. I could have paid cash and bought them outright. Instead I used a loan facility provided by the company from which I purchased the cars. Why? I borrowed the money at a 2.06% interest rate which is locked for the life of the loan. Over the entire course of the loan (5 years) the interest repayments over the principle will cost me $750 for my car and $1,050 for my wifes car. Sometimes a high exchange rate works in our favour.

So the question is can I make more than $1,800 from the expense of two new cars in five years? The answer is...I already have.

Don't forget the opportunity cost of spending your own money when you make a purchase as opposed to using other people's money.

Cheers

Sir O
 
Sir Osisofliver said:
I borrowed the money at a 2.06% interest rate which is locked for the life of the loan.
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Not saying it's necessarily the case in your situation, but sometimes it's worth looking at what isn't said. For example, I can get a sofa on 24 months with no interest at all, but I know for sure that if I took the cash option, the purchase price would be reduced. Maybe the 2.06% is on the sticker price you paid, but if you'd paid cash, maybe it'd be a substantially lower sticker price.
 

Now you're talking about negotiation. Car's aren't sofa's. The best time to buy car's is in January (because the company is motivated to sell last year's model for a reduced margin) ... something that doesn't happen with sofa's. When you tell the salesperson....you might be able to sell two cars today - he starts to become really motivated to make it attractive...especially when you ask how he's doing on commission when the new car sales numbers have been down due to the lack of economic growth and fall in consumer confidence...I love my free tinting and extended warranty.

Cheers

Sir O
 
Is that per year?
 
skc said:
These ratios changes a great deal depending on whether the family is duel income, no. of dependents, the age of the respondent and location (obviously).
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How many DINK's have seen their lives become SITCOM’s?

(Single Income, Two Children, Oppressive Mortgage)
 
craft said:
How many DINK's have seen their lives become SITCOM’s?

(Single Income, Two Children, Oppressive Mortgage)
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The single greatest threat to long term happy life and wealth is having kids too early.
PARTICULARLY if it leads to pressures which cause a break up of a family.

This leads to.
2 single parents.

(1) Male now with child support some have more than one child from more than one spouse!!?? Inceases in income = increases in Child support! So then prospects of another relationship are slim---not a lot to offer (generally) and if you do and they have kids you fork out again (Not that you mind).
Mortgages and home ownership--pipe dreams.

(2) Female now single with kids---often un employed--with rent. No time for a partnership and not at the top of the prospect list with dependants. Constant battle with ex/s.

Of all the things that will/could-- stuff up life---this has to be in my mind

TOP OF THE LIST
 
duel income = fight the Misses for money?

You are correct Tech/A the family situation is changing, Men get the bad end of the deal as some how they are seen as having a higher potential to recover after a divorce which is not the case.
Think if you had of purchased Gold every year and rented how well off you would be and no tax's to pay on the profit.
This applies today as well for any one thinking of buy a house.
With India, China going to gold to pay for oil instead of USD it is due for another launch.
Most of the time I have found things beyond my control cause the most damage to my life style no matter how much planning I do.
As for sofa' s check the quality now they are glued chipboard poor quality vinyl and cushions that distort in no time, mine is about 20 yrs old and been recovered 3 times.
Buy antique furniture is the answer at least you get sold timber.
 
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