Buyer beware – when it comes to making your next car purchase, you may be victim to the ‘buy cheap, buy twice’ mentality.
But a new market analysis by Your Money Magazine reveals that you can actually save money by buying a $55k Prado, rather than the bog-standard $33k Camry.
By comparing the cost of depreciation, as well as operating costs and the opportunity interest cost, Your Money Magazine worked out the best buys in light, small, medium, large, SUVs (compact) and SUVs (medium).
And the results may surprise you. To find out which cars came out on top, which brands to watch for and what cars to avoid, pick up a copy of Your Money Magazine at your local newsagent today.
Other issue highlights include: Top stocks for 2011, Property investment dream suburbs, Save $1000’s on your next holiday, Best shopping reward cards, Beat the rate rise, Best high-interest savings accounts… and much more!
In the meantime, here is a quick guide to Your Money Magazine’s smart buying tips:
You could lower the overall costs of owning your vehicle by sticking to these guidelines:
- Transmission: auto not manual
- Colour: common not unusual
- Size: small or medium (not large)
- Equipment: Nice stereos and seats help
- Fleet cars: avoid them!
- 4WDs: Hold their value well
- Diesels: Popular second-hand buys
- Servicing: Full history of dealer services is best
- Driving: Minimise kms and air-con usage
- Care: Keep free of scratches, dints and interior damage
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
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