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nzkiwiman

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#208193 31-Jan-2017 13:23
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As mentioned in a few other threads, back in 2015 I purchased a ex-demo 2014 Mazda3 (saved $8k of rrp)
Since doing this, I have had an idea floating around my head and want to get other peoples thoughts on it

 

In September the included 3 year service/support package runs out and my idea has been to "trade up" to another ex-demo Mazda3 in order to basically continue to have a "new car" and to continue getting free service and support. In 2016 the Mazda3 also got a small refresh and the base model got a few additional upgrades, so it would be nice to be able to take advantage.

 

In order for this plan to work, I would need to a) find a ex-demo car fits criteria (less than 6 months old, under 5k on the clock and with a decent saving over RRP) and b) get a significant trade-in on my current car as finances do not allow me to spend another $27k as I did back in 2015.

 

Also floating around my head to counter any of this is the thought - is spending $5, $7, $10k for a "new car" actually worth it or should I just keep the current model and keep it for 11 years as I did my last car ...

 

 

 

So, people's thoughts

 

Good plan? Stupid plan? 


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WyleECoyoteNZ
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  #1713284 31-Jan-2017 13:54
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Do a quick Trade Me search on 2014 Mazda 3's with the Km's yours has now.

 

This will give what a main dealer is selling your current car at, then less $3-4K is what you might get as a trade in.




alasta
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  #1713485 31-Jan-2017 19:14
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How much mileage do you typically do? Are you using the vehicle daily, or just for occasional out of town trips like me?


dickytim
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  #1713653 1-Feb-2017 08:07
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Are you happy to spend $5k a year on a car to keep up with the latest and greatest?

 

$100pw?

 

Does the new car have better technology, burn less fuel etc?

 

For me, if I could upgrade for that and get a better car I probably would.

 

To add: Would you save $5000 a year on potential repairs out of warranty and servicing?




alasta
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  #1714127 1-Feb-2017 19:43
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I don't see how this proposed upgrade would cost him $5k a year.

 

If his current vehicle depreciates from, say, $15k to to $8k over the next three years then that's about $2.5k a year.

 

If a replacement ex-demo depreciates from $30k to $15k over the next three years then that's $5k a year. 

 

It's not a huge difference relative to the overall TCO of a car.


dickytim
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  #1714279 2-Feb-2017 06:18
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nzkiwiman:

 

As mentioned in a few other threads, back in 2015 I purchased a ex-demo 2014 Mazda3 (saved $8k of rrp)
Since doing this, I have had an idea floating around my head and want to get other peoples thoughts on it

 

 

 

 

my comments about 2 year were based on this comment, the comment of 5k a year was based on the comment regarding the change over cost being 7-10k looking at the worst case scenario.


alasta
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  #1714288 2-Feb-2017 07:20
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I understood that he was talking about the capital outlay, but maybe he can clarify.


nzkiwiman

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  #1714414 2-Feb-2017 12:03
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dickytim:

 

Are you happy to spend $5k a year on a car to keep up with the latest and greatest?

 

$100pw?

 

Does the new car have better technology, burn less fuel etc?

 

For me, if I could upgrade for that and get a better car I probably would.

 

To add: Would you save $5000 a year on potential repairs out of warranty and servicing?

 

 

When you put it like that - then no, I don't think I am happy to spend $5k a year to keep up; but in saying that, compared to needing to spend $25-30-35k in a lump sum when I do need to upgrade - then $5k a year seems "cheap"

 

I would be upgrading to the same model, that has since had a mid-cycle refresh and it only has a few additional features over my current model

 

Based on the "bills" I receive when servicing I save approx $600-750 a year on servicing and haven't needed to use any of the warranty features - so no, would not save $5k a year on a warranty and servicing.

 

 

 

As I said, I think I would need to be REALLY lucky to get everything aligned for this plan to work so the reality is that I will stick with my current car until such a time it NEEDS replacing


 
 
 

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dickytim
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  #1714790 3-Feb-2017 07:02
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Glad I could apply some alternative logic!

 

Now the logic needs to be how much of the car value can you write off a year in order to end up with a car that doesn't owe you anything. That will help you decide when you do need to replace it.

 

I had an older FTP that I paid around $2500 for, I had it for 2 years and the cam belt came due, in the end with other bits and pieces the bill for that work came to $2,500. 6 months later my circumstances changed and I had to replace the car. So my car ended up costing me around $6,000 for 30 months (adding servicing in) less a $1500 trade in, so $150 a month! That was a poor investment and I learnt that I should have driven the car into the ground until the cam belt snapped.


cadman
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  #1715775 5-Feb-2017 16:02
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nzkiwiman:

 

As mentioned in a few other threads, back in 2015 I purchased a ex-demo 2014 Mazda3 (saved $8k of rrp)
Since doing this, I have had an idea floating around my head and want to get other peoples thoughts on it

 

In September the included 3 year service/support package runs out and my idea has been to "trade up" to another ex-demo Mazda3 in order to basically continue to have a "new car" and to continue getting free service and support. In 2016 the Mazda3 also got a small refresh and the base model got a few additional upgrades, so it would be nice to be able to take advantage.

 

In order for this plan to work, I would need to a) find a ex-demo car fits criteria (less than 6 months old, under 5k on the clock and with a decent saving over RRP) and b) get a significant trade-in on my current car as finances do not allow me to spend another $27k as I did back in 2015.

 

Also floating around my head to counter any of this is the thought - is spending $5, $7, $10k for a "new car" actually worth it or should I just keep the current model and keep it for 11 years as I did my last car ...

 

 

 

So, people's thoughts

 

Good plan? Stupid plan? 

 

 

Shear madness. All you're doing is realising the depreciation which is of course much more in the early years, then doing it all again, while attempting to justify it with the minimal savings of "free servicing"? It's all terribly wasteful. Think of all the time off work you could have with the money saved from not doing it.


cadman
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  #1715778 5-Feb-2017 16:05
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nzkiwiman:...no, I don't think I am happy to spend $5k a year to keep up; but in saying that, compared to needing to spend $25-30-35k in a lump sum when I do need to upgrade...

 

Need?


Geese
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  #1715782 5-Feb-2017 16:32
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I agree with cadman re time off work. Though people despise it, that's how I view spending money. A friend would buy a $10k car, 2 years later trade for $2k on another $10k car, repeatedly. Good on him and he always had nice cars but I'd rather have his $2k trade and take what works out to be 14 extra weeks off every 2 years.

cadman
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  #1715798 5-Feb-2017 17:24
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Geese: I agree with cadman re time off work. Though people despise it, that's how I view spending money. A friend would buy a $10k car, 2 years later trade for $2k on another $10k car, repeatedly. Good on him and he always had nice cars but I'd rather have his $2k trade and take what works out to be 14 extra weeks off every 2 years.

 

Yep. One sure way to kerb frivolous spending is to look at the cost in terms of hours out of your life spent working to pay for it instead of doing something more enjoyable with your time - and this is coming from someone for whom vehicle costs are ~75% tax deductible.


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