First Car

[michaelw]

Stamp duty. Is the transfer fee that you have to pay to the state. What it is for is propping up the NSW economy. From memory (anyone can leap in here, or better still check the RTA) it is $300 + 2% of the value of the car.

As for insurance the way the insurance blokes see it. Young bloke with a VL, a car that weighs nothing with plenty of poke. And if you are planning to modify it you will have to look at shannons or something and then that 3K will look like chicken-feed.

My advice is never go into debt to buy a car, at the end of the day they are a hole to pour money into. Your $2000 car is now a 2000+3000+ 340 = 5340 car and now factor in fuel say $70 a week. Rego in four months $600 so after a year you will have paid $9580 for a VL. Now that is back of the envelope calcs but you see my point.

Depending on what you do next year, uni/apprentice/full time work will help you think about your finances.

Mike

 

[Gus]

Hmm, wow.

Okay well i don't know hopefully this guy will hold on to it. I'm going to have a look at it and take it for a bit of a drive as well to see how it runs but if it's not up to scratch ill just leave it.

That's a lot of money haha but i guess all in good time!

As for my future, either take a break off my studies for a bit and work or go straight into Uni. Not sure.

 

[revv_head]

Mm borrowing is kind of out of the question as they are in a bit of a financial situation. My relatives also live overseas so i only have my direct family here in Australia.

With the loan there is a company that advertises on TradingPost and they can do a $2000 loan that can be repayable in 1 year (Tax = $109, = $2109) or 2 years (Tax = $119, $2119). So it's a really low rate but then again i'm not sure about signing a 1-2 year contract as i don't have a stable income (part time job due to year 12). Also i'm not even 18 yet (about a month to go). So many complications! So interested in this car though!

hey hey northern beaches. Well all i can say is i started working at coles when i was 14 and before i got my Ps i bought a 2004 VY S pack. Paid in cash as my first car. should of planned ahead mate.

 

[Gus]

hey hey northern beaches. Well all i can say is i started working at coles when i was 14 and before i got my Ps i bought a 2004 VY S pack. Paid in cash as my first car. should of planned ahead mate.

I take it your from Northern Beaches as well?

I did! I worked in coles for about a year and also am currently working in a fast food joint.
But the "family financial issues" interfered with my saving.

Hopefully i get a hold of this car and you'll start seeing me driving around

 

[kane88]

hey hey northern beaches. Well all i can say is i started working at coles when i was 14 and before i got my Ps i bought a 2004 VY S pack. Paid in cash as my first car. should of planned ahead mate.

sooo... that makes you better than gus? not everyone has it that easy mate

 

[revv_head]

sooo... that makes you better than gus? not everyone has it that easy mate

what leaving school year ten. 40 hours a week?

 

[Gus]

I can't work that much! Especially now that i have my Trials and soon my actual HSC... !
Gonna be off work for a month and a bit.

 

[revv_head]

sooo... that makes you better than gus? not everyone has it that easy mate

i know they dont. thats why you have a VL not a VY.

 

[K3zBang]

Personally i would rather be in Gus's shoes, the fact he is sticking out school, looking at uni and getting some degrees, any fool can have a year ten and work for **** cash there whole life and be happy with a VY that you have put no real hard work into it making it your own doing it up and watching it grow.

I'm 18 saved 31 grand already over the years yet I'm looking at buying a 900 VL with 400,000 Km's on it.

My two cents.

 

[premium]

I Wouldn't recommend a VL as a first car, they're not too good on fuel and mechanical problems can be costly.

Fortunately for me, my dad gets 50% off petrol, and used to be a mechanic!

If it's on gas though, it's definately worth it, and it's very cheap to convert to gas these days with the government rebate!