Everyone seems to be buying luxury cars - how?

[GTSBoy]

All I know is, I can't really afford one, and another $20k/yr on my salary would allow it, but I'd be mental to spend it that way.

[HARD CUNT]

apperntly the Mackay Holden dealer sells more HSV hands down than any other dealer in the country & BMW have just opened there 3rd showroom in Brisbane in the western suburbs

there is money around, how people finance is not usallty the dealers issues (unless they get finance from the dealer)... bit i would have to say over 50% of cars over 50k would be financed somehow

[JayTHEFordman]

there is money around, how people finance is not usallty the dealers issues (unless they get finance from the dealer)... bit i would have to say over 50% of cars over 50k would be financed somehow

I would say the figure is a bit higher than that. Most would be financed in some way, its the Aussie way along with your plasma on GE

[SirGoat]

i got ours as a trade off downsizing to one car.

I also did the sums on it, misus wanted a smaller car, i didnt want an econo hatch, trying to find a trade off in the 15k - 20k left with a few issues if something broke and what not. In the end the mini wasn't stupidly expensive as a 3 year lowest residual lease (45% i think) with the income tax and gst savings on running costs its around the same price to have one car i know will work first time than have two cheaper cars which may cause greif.

Combine with the kinda fixed payment for things like rego/insurance never coming up as a surprise its been great.

[CGRS15]

apperntly the Mackay Holden dealer sells more HSV hands down than any other dealer in the country & BMW have just opened there 3rd showroom in Brisbane in the western suburbs

No apparently about it, all the cashed up miners go in to buy the latest and greatest HSV's...

[edo]

Ive pretty much decided that Id rather drive the cruiser & spend $20k or so a year on a holiday...

You earns your money, you makes your choices.

[tut]

cause it's australia, where everyone has a gambling problem, a drinking problem, and huge bottomless debts?

over here, when you see a car that costs over 20k euro, 9 out of 10, it's a company car. the people get taxed a bit more, but they get a car in return. costs them basicly nothing. maintenance and fuel is paid for by the company. . and they get new cars every 4 years or 120k km.

[IMOA]

Thats true. So maybe the answer is that it IS relatively affordable. I'm guessing there is a way to structure it tax effectively too.

As long as you're doing a few k's then absolutely, even if not it can still make sense, particularly if you are capital tight. Then that 25k would be far better used as part of a house deposit so it appreciates and then just use cashflow on the depreciating asset. People seem scared of finance when the reality is they should only be scared of innapropriate finance.

[wiggah]

I reckon they do it once, think the resale is gonna be Euro-awesome, then when it comes to trade in time realise how big they have lost, buying all those options wasn't such a good idea, then go back to a reasonably priced car.

Happens all the time here. M3 -> Corolla was a funny one

[jesus]

most of the brisbane guys are kinda retarded

there sitting on a house they bought for 200-300 10 years ago, all of a sudden its worth a million bucks, so they dip into the equity grab 250 and do a reno, which makes it "worth" a mil and a half, then they decide to go grab the hot shit car cause because there now millionayres!!

its super awesome paying your car off over 25 years

bigest example of this is the sheer amount of cayenne's running around newfarm, fuck youd hate to have payed 270k for one, there was a black/black twin turbo on graysonline last week for 68k. Look at it this way, if youve "earnt" a million bucks in equity in 10 years, thats $100k a year, so you buy a car, lets say its going to go down $100k in 3 years, but your "earning" 100k a year on your home. so you go fuck it, i can afford it, im a MILLIONAYRE! so you go for it, and hope like fuck the real estate market doesnt take a shit, and theres "no way" it will because its gone up 10 years straight and thats as long as you can remember! ....then a year later your house gos down 200k and you lose 100k on the car and everyones in a hurry to sell, thus the 68k cayenne on grays

most of your low end bmw's, audis, mercs are rolling on guarenteed buyback deals, they will give you a 320i for $199 a week or a 520d for $299 a week, they even advertise them that way "you can afford $199 a week cant ya?"

http://www.bmw.com.au/scripts/main.a...0d-RetailOffer

you do get stung on the buyback deals, but its sure nice to get free insurance, free servicing and know exactly how much your cars going to cost you from start to finish, i would have loved a buyback on my m3 but they wont do them on anything M "apperently" people were flogging the ring out of them and handing them back after 2 years (like i was going to do). they will do a buyback on 335 tho, which i why i was considering that.

[Dave]

I could quite easily afford a big ticket car along with an average mortgage due to my quite decent income, though I choose not to due to my bad habit of sensibility with money.

However there are plenty of people, e4specially here in WA with the resource boom, with high disposable incomes and little sense. hence sales of luxury cars going through the roof.

One luxury car dealer here in Perth reported a 50% increase in sales last year!

Fuckin' Cashed Up Bogans (CUBs)

Up here we have a mining boom plus the biggest infrastructure spend in qlds history, anyone can earn 100k a year these days (if they are willing to work hard in shit environments)

[Evaku8]

I have often wondered this as well. I think there are a lot of people with big debts.

I find it hard to believe that there are that many people on huge salaries. There are exceptions such as those who inherited money, but for the most part they are leased or owned by the bank.

I could go out and blow six figures on a car if I wanted to, but I would rather spend it on a house that appreciates. If I'm missing something, someone fill me in so I can buy that RS4 I want.

[Dave]

I could go out and blow six figures on a car if I wanted to, but I would rather spend it on a house that appreciates. If I'm missing something, someone fill me in so I can buy that RS4 I want.

expensive cars get you bitches!

[JayTHEFordman]

Yup, theres money in a willingness to work in crap places. Look at me.

Theres heaps of jobs in Africa too, but noone wants to work in Africa.

Seriously, it looks like QLD, and perhaps SA, will be where the next big thing is in the reources, so get used to labourers driving around in the latest Holden & Ford performance offerings etc

and to add fuel to that fire is a willingness to take on huge amounts of debt, as has bee recent history. The past 5-8 years have been about realestate boom feeding an overconfidence in our financials pretty much going as Stalin says. Its huge debt loads, and Its all a house of cards.

[Nick]

Yeah my girlfriend thinks I'm nuts for spending 60k on a car.. and it would have been better on a deposit pfftt I needed to replace the Corolla with something.... :D