Experience in Buying Cars in Australia

kremitz

@gmad06 congrats on ur new ride how many years po ang loan and nasa how much po monthly?anong year model po yang crv nyo?

kremitz

Im also curious kung like how much ba sya initially?tipong nakapag haggle kaba ng price n gusto mo?

gmad06

@kremitz 2007 yung nakuha ko and inavail ko na term is 5 years. medyu fixed na kasi ang price kasi mababa na sya compared to normal price at considering sa Honda mismo ako kumuha, mahirap na tawaran. They did offer me other deeds like delivering the car to my place kasi malayo from north to south, tsaka finull tank niya yung kotse. At pwede rin ako mag early termination sa financing ko. Medyu nahalata nga nya na hindi ako expert sa CRV so tinuruan niya ako anong mga features at paano gamitin..so I was impressed...I've had bad experiences with other caryards so nag go na ako dito..

cholle

Just got my finance approved today! Mukhang next week magdadrive na rin ako rito

kremitz

@gmad06 mukhang murA n nga yan ah

RuChe

Nice car gmad06! Congrats din cholle.

We also just bought Toyota Corolla sports hatch. 2 days ago namin nakuha. Buti na-approve yung financing sa toyota din, kahit contracting lang ako and hubby is not yet working. Medyo mataas lang interest, 10.5% kase high risk daw kami which is true naman. Hanap pa kami insurance.

kremitz

Congrats @ruche. Brand new po bili nyo?

RuChe

Yup kremitz. Tagal din naming pinag isipan kung brand new or used. Pero sobrang nadala kase si hubby sa used car namin before sa pinas kaya ayaw na nya mag take risk uli. Plus ala kmi alam pareho sa sasakyan. Hehe. Binigyan naman kami ng discounts and free yung metallic paint.

multitasking

congrats sa mga bagong car owners.. =D>

kremitz

Naks congrats @ruche

RuChe

Tenks. hehe..

gmad06

kumuha ako ng temporary insurance sa Suncorp while naghahanap ng mura..130 monthly ko..marami daw factors ng premium mo, location,age ng car at driver experience...yung iba nagmonthly lng ng 50AUD..sana makatsamba din..

cholle

I got a certified used car from the Citroën dealer mismo which is just 1km from my place. I actually met the owner of the dealership; it's a family-run business at puro Citroën lang sila since day one.

Initially I was eyeing a 2007 C3 na automatic, pero naliitan ako when I test drove it so I looked for something else and saw the 2011 C4 na matic rin. They actually gave me a good discount kase sabi ko it's out of my price range na.

I had it financed. The thing is dahil one month pa lang ako rito and less than one month pa lang at work, high risk borrower ako. I shopped around pero mahirap yung mga options na binibigay sa akin ng banks and ibang financing institutions. I ended up with the financing na ni-recommend ng Citroën. My options kase were: 1) wait two more months and apply with either ANZ or yung financer ng Citroën, or 2) fork out 20% of the car's value as downpayment, which means mababawasan rin yung loan amount ko hence lower monthly repayments. I took the 2nd option kase naisip ko it all works out - lower monthly payments = savings = mababawi ko rin yung pinambayad ko ng 20% in about 3-4 months. Tapos mura na lang yung monthly ko after that. I could've waited two more months, but my work is in the property industry and a car is necessary to go to the properties I manage.

I got my insurance from NRMA. I was quoted $1078 for one year - that's comprehensive na market value with $800 excess. Kung yung purchase price ko ang ginamit, magiging $1300+ sya. Yung Allianz, Woolies tsaka Coles ang mahal ng quote sa akin, nasa $1400-1700! Siguro kasi yung NRMA, ang consideration nila is 8 years na ako nagdadrive (they asked where I first got my licence and when), whereas Woolies and Coles simply asked how long I've been driving in Oz. Rego ko sa Feb pa renewal, di ko pa alam kung magkano hehe saka ko na isipin :P

I'm getting the car on Saturday. Exciting!

JCsantos

I wont do market price when getting a insurance, talo ka pag na write-off , always go for an agreed value

cholle

@JCsantos like, super talo? Ang requirement lang kase sakin nung financer is at least market value for the whole term, eh syempre tagtipid muna kaya dun ako sa lower premium. Touch wood na sana di ko kailanganin.

Kung sakali ata pwede ko namang baguhin pag renewal na diba

JCsantos

Yup pwede mo palitan anytime, yung cross finger nga sana walang maging problem

rams

has anyone tried using the balloon payment scheme for car loan? seems like a good idea. lalo na kung may pangdownpayment kayo lets say for a 20k car, you already 6k on hand. you can take the loan lets say at 5 years for the 14k and then deposit the 6k in a savings account. at the end of the term, may kinita na yung 6k nyo na interest and pede nyo na kumpletuhin yun bayad.

http://www.savingsguide.com.au/car-loan-residual-balloon-payments/

mixednuts

Even if you have budget in buying a car, mas preferable pa rin bang installment or cash? If installemt magkano usually ang dp, say 33k sya.

dhey_almighty

ang alam ko kahit walang downpayment...pwede...kase ung friend ko bumili ng navarra, around 33K rin yata un...wala silang dp... :-)

atchino

@cholle kung brand new - pwedeng talo pag na write-off
Pero kung luma kotse at halos mababa na value - pede.

atchino

Even if you have budget in buying a car, mas preferable pa rin bang installment or cash? If installemt magkano usually ang dp, say 33k sya.

Kung may cash, eh di bayaran mo na para wla ka bayaran interest.

Kung tining mo na may mapag lagyan ka ng cash mo earning more than the interest rate na i charge sayo pag nag financing ka.... eh di mag finance ka at investm o yung cash mo.

mixednuts

yun na nga mga bossing kung pwede wala dp eh invest muna kung mas malaki ang kikitain.

kung no work pero may pondo aprub kaya pag brand new?

kremitz

umm yung interest rate usually based yan sa credit rating mo. usually pag new migrants mas mataas ang binibigay na interest rate since mababa pa credit rating. dame din factors kc tinitingan sa pag come up sa credit rating score. kung may enough cash kanaman i suggest icash mo na kasi parang luge ka sa interest pag new migrant ka. parang nasa 14% ata interest annually nung nagcheck kami. basta mejo mataas compared to mga 5-6% sa friend namen na 3 years na sa oz.

mixednuts

@kremitz noted. mataas ang 14% interest rate. preferable pala ang cash unless kumikita ang pera mo ng at least more than 14% annually

IslanderndCity

Nice car gmad06! Congrats din cholle.

We also just bought Toyota Corolla sports hatch. 2 days ago namin nakuha. Buti na-approve yung financing sa toyota din, kahit contracting lang ako and hubby is not yet working. Medyo mataas lang interest, 10.5% kase high risk daw kami which is true naman. Hanap pa kami insurance.

ahhh... so may chance makaavail car loan without downpayment kahit both wala pa work dyan?

TasBurrfoot

Nice car gmad06! Congrats din cholle.

We also just bought Toyota Corolla sports hatch. 2 days ago namin nakuha. Buti na-approve yung financing sa toyota din, kahit contracting lang ako and hubby is not yet working. Medyo mataas lang interest, 10.5% kase high risk daw kami which is true naman. Hanap pa kami insurance.

ahhh... so may chance makaavail car loan without downpayment kahit both wala pa work dyan?

i don't think so...

rinabella

Hi po. Tanung ko po kung pano magloan ng car using the salary sacrifice? Tia

JCsantos

Hi po. Tanung ko po kung pano magloan ng car using the salary sacrifice? Tia

from what i know iba ang salary sacrifice sa car loan

rinabella

@JCsantos ah ganun po,may nabasa po
po kasi ako s previous post na pwedeng gamitin ung salary sacrifice..anyways,natry nyo na po bang bumili ng mga used cars s toyota at honda? Ok po ba dun?

pangrom0529

@JCsantos ah ganun po,may nabasa po
po kasi ako s previous post na pwedeng gamitin ung salary sacrifice..anyways,natry nyo na po bang bumili ng mga used cars s toyota at honda? Ok po ba dun?

@rinabella, maybe you're referring to novated lease. ask your employer if they a scheme like that and how it works. the monthly or whatever time period is allowed in the novated lease will be deducted from your salary and would directly impact your annual income for tax purposes. hence, magkakaron ka ng tax savings.