Dealership offering to buy my NX Exceed

[skins2380]

Got a cold call from a sales rep from my local Mitsy dealership today offering to either buy my 2014/15 NX Exceed outright or trade it in on another vehicle, he recons the market for NX exceeds has gone through the roof & they cant get any. Said they were paying top dollar. Now that makes a welcome change. Not that I would part with it - too good a vehicle.

[Ozzz]

Got a cold call from a sales rep from my local Mitsy dealership today offering to either buy my 2014/15 NX Exceed outright or trade it in on another vehicle, he recons the market for NX exceeds has gone through the roof & they cant get any. Said they were paying top dollar. Now that makes a welcome change. Not that I would part with it - too good a vehicle.

No car for sell atm

[Keithyv]

Tell them ‘Sure I’ll swap it for a brand new one at $0 changeover’

[Jasonmc73]

I got chatting to the owners son saleman where i brought my MY16 couple months back not long ago, it was a Mitsy dealer

He had yard for 150 cars & had 39 in stock.

His concern was stock new & used was expensive due to no supply & stack of demand, once market turned he didn't want a yard full of over priced vehicles.

He also said Mitsy were auctioning new stocks to dealers whom were paying close to RRP in the hope of making the money from the Pre Delivery charges + any finance sold to get some cash flow.

No stock from factories & increased demand.

[Dicko1]

Lets see what happens late March when jobseeker stops.....

[Jasonmc73]

Lets see what happens late March when jobseeker stops.....

You can't kick the can down the road forever.

Although in general Anna & Co in QLD seem to think you can though & they keep getting voted in 25 years out of 31 years.
So half the voting population think you can as well

The chickens will come home to roost sooner or later

We have a real problem in Australian populations minds, "The age of entitlement" & no consideration that government debts actually belong to the people, the "government" will retire on big fat perks with no accountability, they just worry about being elected for their own interests

I agree.

[erad]

I cannot understand what is happening with the economy right now. My reading of the situation is that the future is most uncertain. I am retired and hopefully have enough savings to ride out any waves which come my way, but for the average guy, what will happen?

I think that the last thing Mr average Joe should do is to go out and buy a new car (or TV or washing machine or anything not needed at the immediate moment). Who knows what will happen tomorrow? I certainly don't and there is no way that I would commit money unnecessarily to anything, let alone a new car. If I had a car, almost invariably it is cheaper to keep repairing it than to replace it - the depreciation of a new or late model car in one year more than covers the likely repairs. Same thing with items such as phones and TVs. If the old ones are working, why replace them. Apple's IPhones are a classic. A thousand dollars for what? Just so you can wave it around and show off to everyone else that you have the latest? And I bet that most of the latest IPhones are not fully paid for - they are paying them off month by month. What happens when your employer suddenly shuts the doors???

I am of the old school - I have always paid cash for any car I bought - I pay cash for anything I buy in fact. If I don't have the cash, I don't buy it. Simple. This is probably not the way the Govt wants people to be but I feel a lot more secure that if I had a huge debt hanging over my head and doubts about my future employment. OK - there are major items such as houses which are beyond the reach of most people without going into debt, but I am sure that most of the current debts are for 'optional' rather than essential purchases. And sadly for me, cars are included in the optional category. Enough - I'll get down off my soapbox before it gets too high and I fall off it.

[BruceandBobbi]

Apple's IPhones are a classic. A thousand dollars for what?

Think you are a bit off with your price mate.

The new iPhone 11 Pro 512GB version is $2,349.

My $200 Samsung does me fine.

[nj swb]

Think you are a bit off with your price mate.

The new iPhone 11 Pro 512GB version is $2,349.

My $200 Samsung does me fine.

Why do they charge $2,349 for a high-end iPhone?

Because they can.

[Ozzz]

Instant asset write-off for eligible businesses (150,000 max) will end on 31st December https://www.ato.gov.au/Business/Depr...tassetwriteoff. Folks with ABN or ACN rushed into new cars for tax purpose. And many dealers have no stock anymore, if the car delivers after 31st Dec, then it would not count. One of my friend just bought an expensive car and claimed its 100% for business. End of this year, the car price will drop back, plus the cut of the jobseekers and keepers will make some buyers rethink about future.

[Pushbike]

Erad, Ditto ditto and DITTO
All the stuff is imported, i.e all that Gov. (our taxes) money going overseas, transfer pricing (repatriation of profits)etc. Only supports a minuscule part of our workforce.
We have a disproportionate size "service sector" - coffee anyone? Non productive.

[Jasonmc73]

Instant asset write-off for eligible businesses (150,000 max) will end on 31st December https://www.ato.gov.au/Business/Depr...tassetwriteoff. Folks with ABN or ACN rushed into new cars for tax purpose. And many dealers have no stock anymore, if the car delivers after 31st Dec, then it would not count. One of my friend just bought an expensive car and claimed its 100% for business. End of this year, the car price will drop back, plus the cut of the jobseekers and keepers will make some buyers rethink about future.

This scheme keeps shifting been around for quite sometime except they broadened whom was eligible & upped it from $22000 Inc GST to $33,000 Inc GST & now COVID $150K
This part up to $33k has been around for years, will be interesting to see if they shift the dates or not again as they have been, it was suppose to end at the end of last financial year.

One other driving factor believe it or not is access to Super $10k in last financial & another $10k this financial, tick & flick for access to be assessed after the event by the ATO to get the $$'s rolling.
This has been a bonanza, as per the governments wishes in the "Age of entitlement" they've been on a spending spree

This is on top of international travel being banned which burns holes in peoples pockets, can't go on overseas holidays so they do other things with the money & holidays etc.

Keep in mind not everyone is broke

[erad]

Ozzz wrote, in part "Keep in mind not everyone is broke"

Not yet, but when the brown stuff hits the whirring blades, there is going to be quite a few people who really come down to earth with a very heavy thud. But on the meantime they will have a ball with their new toys. It makes me wonder if I should go and order a 2021 Pajero now. No - I think I will hang on to my NW. It probably has more life left in it than I do.

[Mundy55]

I cannot understand what is happening with the economy right now. My reading of the situation is that the future is most uncertain. I am retired and hopefully have enough savings to ride out any waves which come my way, but for the average guy, what will happen?

I think that the last thing Mr average Joe should do is to go out and buy a new car (or TV or washing machine or anything not needed at the immediate moment). Who knows what will happen tomorrow? I certainly don't and there is no way that I would commit money unnecessarily to anything, let alone a new car. If I had a car, almost invariably it is cheaper to keep repairing it than to replace it - the depreciation of a new or late model car in one year more than covers the likely repairs. Same thing with items such as phones and TVs. If the old ones are working, why replace them. Apple's IPhones are a classic. A thousand dollars for what? Just so you can wave it around and show off to everyone else that you have the latest? And I bet that most of the latest IPhones are not fully paid for - they are paying them off month by month. What happens when your employer suddenly shuts the doors???

I am of the old school - I have always paid cash for any car I bought - I pay cash for anything I buy in fact. If I don't have the cash, I don't buy it. Simple. This is probably not the way the Govt wants people to be but I feel a lot more secure that if I had a huge debt hanging over my head and doubts about my future employment. OK - there are major items such as houses which are beyond the reach of most people without going into debt, but I am sure that most of the current debts are for 'optional' rather than essential purchases. And sadly for me, cars are included in the optional category. Enough - I'll get down off my soapbox before it gets too high and I fall off it.

Certainly paying cash for things you need rather than want, in these uncertain times, makes sense. However, it is not always the case. I, too, am retired. Whether or not it makes sense to pay cash for things depends on how one's super and other investments are fairing and the cost of debt. If the rate of appreciation of one's investments is greater than the interest rate of debt, take the debt. Sure there's more risk but you can't get returns without risk. So, it depends on your risk profile.

Not saying you should take on debt at the moment but things will get better eventually and that a blanket only pay cash is not necessarily in your financial best interests.

[stumagoo]

Ozzz wrote, in part "Keep in mind not everyone is broke"

Not yet, but when the brown stuff hits the whirring blades, there is going to be quite a few people who really come down to earth with a very heavy thud. But on the meantime they will have a ball with their new toys. It makes me wonder if I should go and order a 2021 Pajero now. No - I think I will hang on to my NW. It probably has more life left in it than I do.

is there going to be a 2021 Pajero --- I suspect that is the other reason for cold calls like the OP --- no new pajeros before long

but the used car market is going crazy we do a lot of work for dealerships (prettying up tradeins) and they just cant get any the quality of cars they send us now are total crap and we are getting twice what we used to get. Dealers are buying total shit boxes giving them a quick lick of paint and selling a t a premium