Unsure if Scotty actually reads these but thank you for your honesty and your very well made, informative vids! I've been a subscriber since you had less than 1 mil subs and it's just so assuring to see that hard work and honesty still counts for something in this crazy world!!!
This is my dilemma. I am migrating to Australia this year and I will definitely need to buy a car. My ideal car is the 2016/17 Holden Commodore VF SSV Redline. (I know GM is a terrible company but I figure all companies are rotten in one way or another.) I've always liked the Commodore, and the VF is the last version to be built in Australia. I like the nostalgia of that. Furthermore, I really want to drive a large, manual v8 sedan, and so the Commodore is really my only option. (The Ford Falcons are also another option but they have such oudated, ugly interiors!)
Anyway, my dilemma is that a brand new VF Commodore SSV Redline before the pandemic cost around 50k AUD. Now on average, one with 50,000kms is selling for 70k AUD!!! I just can't wrap my head around spending that much money for a used car! I can't wrap my head around spending that much money for even a new car that would normally cost 55k to 60k!!!
So I was thinking... Would it be smarter to settle for a really cheap car, something between 5k and 7k and drive that for a few years until prices drop again? Or would that ultimately cost the same as just buying a Commodore for 70k now if you include all the maintenance, repairs and government costs??
For example. If I buy a cheap 10k car now and drive it for 2 years... And then the price of the Commodore I want drops to 60k from 70k then, I'm still spending 70k overall, so is it just a waste of time and money???
Your advice would be greatly appreciated!!!
Sincerely,
Heej
It can work if you get the right cheap car, something in decent mechanical shape that's cheap due to cosmetic defects that you don't care about. It also helps if you can work on it yourself rather than having to run to a mechanic for every little thing. I'm not sure what's available like that in Australia though. I don't even know how those guys manage not to fall off the bottom of the earth! (I'm ten years into driving a car I paid $1500 for.)
Will that car ever depreciate?
In all seriousness though, once you get to Australia, you’ll realise a lot of people drive Toyotas & Mazdas..
If you want the VF Commodore, get it as your weekend toy & buy a beaten up Corolla as your daily driver.
All the best!
