Luxury BMWs a debt trap
- Thread starter K4K4M
- Start date
I even struggle to allow myself to do this. It is still borrowing as the outcome is increased monthly interest outgoings.
At least I can try to convince myself that I could buy a car this way and the interest would be tax deductible as the cash was offsetting an IP loan
Arrgggggg!!
I even struggle to allow myself to do this. It is still borrowing as the outcome is increased monthly interest outgoings.
At least I can try to convince myself that I could buy a car this way and the interest would be tax deductible as the cash was offsetting an IP loan
Arrgggggg!!
If you put the cash the car costs into your offset, you'd be paying $0 extra interest.
But, if like me you would rather pay LESS interest if you have that much extra money in the account.... well, then.... maybe, probably you or I shouldn't buy a new 320i
At the moment and for the foreseeable future, the decision is pretty clear for me, and that's okay too...
If you put the cash the car costs into your offset, you'd be paying $0 extra interest.
But, if like me you would rather pay LESS interest if you have that much extra money in the account.... well, then.... maybe, probably you or I shouldn't buy a new 320i
At the moment and for the foreseeable future, the decision is pretty clear for me, and that's okay too...
I think you misunderstood my post.
The money IS in an offset account, therefore if I was to spend it on a car, I would begin paying more interest as the amount available to offset becomes less..
Derrr... got it now...
Ahh the trials and tribulations of the poor millionaires.
Now it's time for a cruise in my awful terrible Nazimobile...wish I had a Hyundai or a Kia
Plenty available cheap.
Now it's time for a cruise in my awful terrible Nazimobile...wish I had a Hyundai or a Kia
It is better to have leased and lost then to have never leased at all!
Shakespeare I think.
most of that diff would presumbly be GST
Would be great, the perfect SS investor's schitsmobile to brag about.
Zero star safety rating is a dream come true!
ha ha, bumper sticker... "my other car doesn't even start"
or plastic triangle "property investor onboard"
Yep...their cars are unsafe....but give it 5-10 years and they will be quite safe.
As for the German cars ....read the auto magazines....their quality is not so good now. The Japanese and the Korean cars tend to have the least defects. The Germans are okay....but other European cars have some dismal records.
Also, the some car companies like Mazada, Subaru, and Hyundai are trying to get all their cars to a 5 star ANCAP standard. Some people say the ENCAP (European standard is slightly hard to achieve but with recent cnages to ANCAP this will change).
The funniest comments I hear is Bogans saying how much better the Commodores and Fords are than brands like Hyundai. I laught at that. For example the new Ford XR6 got a 5 star ANCAP but they skimped in the number of Airbags....they only have 4 instead of 8 on brands like th Hyundai Sonata.
As for the German cars ....read the auto magazines....their quality is not so good now. The Japanese and the Korean cars tend to have the least defects. The Germans are okay....but other European cars have some dismal records.
Also, the some car companies like Mazada, Subaru, and Hyundai are trying to get all their cars to a 5 star ANCAP standard. Some people say the ENCAP (European standard is slightly hard to achieve but with recent cnages to ANCAP this will change).
The funniest comments I hear is Bogans saying how much better the Commodores and Fords are than brands like Hyundai. I laught at that. For example the new Ford XR6 got a 5 star ANCAP but they skimped in the number of Airbags....they only have 4 instead of 8 on brands like th Hyundai Sonata.
I concur on this, from bitter recent experience. I had a Korean built car for 5 yrs & it was great. One of the best I have ever owned. Compared to my Volvo XC70 which is a breakdown nightmare... i will never, ever, buy a Volvo again. I know I shouldn't say never, but I have lost any brand confidence. They are fantastic when they are going, but the frequency of repair is just ridiculous & this is on advice from a workshop specialising in Volvos, not just my bad experience.
I will definitely buy Korean again, but if I want luxury, up to date technologies & performance, the only real options are predominately German & the occasional Japanese car.
The big issue with luxury BMWs, apart from the purchase cost, is definitely the running costs, like replacing the run flat tyres and dealership servicing, which is advisable on some models due to their complexity requiring specialist knowledge. Friends had a new 6 series ($200K+ of car), took it back within 6 months due to endless faults that never seemed be permanently repairable (mainly electronic) & bought a Mercedes instead. I think they did the right thing...
Yes....some BMWs, VW, and Audis have shocking reputations. Some of these are real lemons.
Most Mercs are better in terms of quality.....but from a defect point of view they are not as good as the Lexus, certain Toyotas, and most Hyundais.
Reading some of the mags...the reason why some Toyotas and Hyundais run forever is because they simplify the technology which is put in. The belief of these companies is whilst everyone wants the latest technology the durability and maintainability is also important.
This is where the Europeans fail dismally....who wants to pay 150k for a car and find that it needs a service every 6 months (a pet peeve of mine) and is in the workshop every couple of months due to issues with the car.
Most Mercs are better in terms of quality.....but from a defect point of view they are not as good as the Lexus, certain Toyotas, and most Hyundais.
Reading some of the mags...the reason why some Toyotas and Hyundais run forever is because they simplify the technology which is put in. The belief of these companies is whilst everyone wants the latest technology the durability and maintainability is also important.
This is where the Europeans fail dismally....who wants to pay 150k for a car and find that it needs a service every 6 months (a pet peeve of mine) and is in the workshop every couple of months due to issues with the car.
Sash, type into google 'Toyota recall 2010' and 'Toyota recall 2011'. There is much to read.
Yes....I know that is why I was careful in saying some Toyotas.
Toyota has lost its way somewhat. However, most of their Lexus brands are quite good.
Toyota has lost its way somewhat. However, most of their Lexus brands are quite good.
How often do you service your car? Or do you just not drive much? Once every 6 months sounds like a very reasonable service interval. I service my car every 3-4 months... and it’s a BMW... *runs away from thread
Most vehicles are over-serviced. Why? Because it is in the car manufacturers best interest to be over prescriptive as it allows minor warranty issues to be picked up early (before they become expensive) and means more business for them in spares/servicing etc... Essentially it is a risk mitigation strategy designed to ensure the manufacturer's interests are best protected, not necessarily the vehicle owners.
Very few items on a vehicle are time dependent servicing items, but rather they are usage based. There is generally no need to service every 6 months if you aren't doing high KMs. There are many studies that actually prove the reverse is true Ie. the vehicle gets more reliable with higher use.
Over-servicing is an industry sham that most are blissfully ignorant to
BMW's service intervals are based on how the car is used. If you derive like a granny going to bowls once a week you wont need to service for ages. If you're a rev head lead foot, you be having your service books tamped way more often.
I dont know if other brands do this but i know BMW's do have on board computer to schedule service on how the car is used.
I dont know if other brands do this but i know BMW's do have on board computer to schedule service on how the car is used.
