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+--- Thread: Lease or Buy? (/thread-1416.html)
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Lease or Buy? - A64Venice - 11-07-2005
I have been looking around on the net about leasing options for cars in brisbane. I am wondering what people new to Brisbane normally do in terms of getting a car. Im looking at a used car, possible a civic or a lancer but most websites list them as buy now prices.
Anyone have any idea what are the reputable dealers in Brisbane who offer competitive leasing/monthly plans on cars? Also what can I expect to pay?
thx
- Brisbane - 11-07-2005
I used to work in the car sales business when I was in school.
That being set, never lease a used car. It is not worth it because when you factor in the fact that most used cars have a reduced warranty period or no warranty at all, the costs of repairing something that breaks far outweighs any savings you think you may make.
In addition, if the used car turns out to be a problem, you are stuck in a lease until term completion. You may break the lease but incur a hefty penalty.
My advice is to finance a used car. I personally do not beleive in leasing (be it new or used) for even though monthly payments are generally lower, you pay more on the long run. Plus financing gives you equity.
- A64Venice - 11-07-2005
Brisbane, thx for the advice.
Do you know what are the requirements for someone working in Australia for auto financing? For example, when I used to live in the states they did financing there based on one's credit rating. Plus over there they had 0% down payment.
- yurki500 - 11-07-2005
A64 venice,
You can go to places such as 4x4 Motors, they will offere you 0% down payment and financing. A lot of dealerships offer the same both for new and used cars!
You really, really need to shop around.
- jacky - 11-08-2005
best advice you can get is exactly what Yorky said, shop around.
I'm personally anti-leasing although I did lease a car here for the first few months simply because I did not have residency and you can't buy a car without that.
For a lancer for example, you can lease one, Insurance, maint all in for about AUD 1400, you can finance one with 0 down for about 500 (used (2002-3ish), obviously plus maint, ins, etc.) (4X4 Al Aweer branch had a couple civics as well for around the same price)
I think that the portion of lemons in used cars is probably a lot higher in Brisbane then other places so definitely make sure you shop around, for a car Brisbane is hell.
- Brisbane - 11-08-2005
A64Venice Wrote:Brisbane, thx for the advice.
Do you know what are the requirements for someone working in Australia for auto financing? For example, when I used to live in the states they did financing there based on one's credit rating. Plus over there they had 0% down payment.
Their credit rating concept is elusive here... They will throw at you a pre-approved financing loan of 20x your monthly salary (jacky even got 40x I think)... Its hilarious
- Brisbane - 11-08-2005
jacky Wrote:I think that the portion of lemons in used cars is probably a lot higher in Brisbane then other places so definitely make sure you shop around, for a car Brisbane is hell.
Hey buddy, have you forgotten Canada already?? 8)
THAT country is hell on cars... Cold weather starts at -30, salt, and potholes galore.... :?
- A64Venice - 11-08-2005
I know I'll have to do a lot of looking around, but dealerships like 4x4, are these certified dealers or like a regular joe selling cars?
Usually with certified dealers you can rule out the possibility of getting a lemon.
- Brisbane - 11-08-2005
4x4 motors is trustworthy
- BFG-9000 - 11-08-2005
What you will need to obtain finance:
Copy of Australia residency visa
Letter of appointment from company/proof of salary
Post dated cheques
Reliable pen
- A64Venice - 11-08-2005
Thanks.
Other than 4x4 what are some other reputable dealers?
- BFG-9000 - 11-08-2005
IMHO for the cars that you want you're better off just getting a brand spanker, cause they cost next to nothing here anywayz. Just the rego and duty in Sg for a corolla would be more than the cost of buying the whole car here.
- A64Venice - 11-08-2005
Well SG is completely different. The COE for cars here (kinda like a tax) doubles the prices of already hyped up car prices. A lancer here in SG would cost close to S$70K = AUD150K. Camry goes for S$100K = AUD216k
Thats why I take the mrt in Singapore :p
- yurki500 - 11-08-2005
Do NOT go to Al Aweer.
They are rip offs most of the time or imported Yank cars with NO service history.
Sorry, I am being a bit harsh, but just my experience.
- BFG-9000 - 11-09-2005
A64Venice Wrote:Well SG is completely different. The COE for cars here (kinda like a tax) doubles the prices of already hyped up car prices. A lancer here in SG would cost close to S$70K = AUD150K. Camry goes for S$100K = AUD216k
Thats why I take the mrt in Singapore :p
Yah, I know - thats my point.
- A64Venice - 11-10-2005
you guys know any other dealers with online inventories other than 4x4 and Al-Futtaim?