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agent007 wrote:In other words, by the time you add insurance, it’s a $400k vehicle. We’re definitely in the end of days.
agent007 wrote:In other words, by the time you add insurance, it’s a $400k vehicle. We’re definitely in the end of days.
agent007 wrote:This is the new car thread and whatnot but folks, listen up, if your ride is doing its job reliably and comfortably then keep it. Forget series and forget who driving what. Right now, things real tight and I won't recommend anyone buying a new car in these unstable times unless you absolutely have no other choice.
agent007 wrote:Andy, this seems to be the rhetoric spewed by dealers as of late. Create fear so that you buy now. It's always better to buy now rather than later. It's like the dealership calculated opportunity cost for you in advance where it's always better to sink yourself in a depreciating asset as opposed to keeping said cash in the bank.
Anyway, those mazda 3's are all 1.5. I am not aware of any price increase by way of adjustment to duty and mvt. The only concessional removal the Minister spoke about was in relation to hybrids. So the Prius C, Ioniq and Niro fall directly into that category. As for grey market imports, woe unto those who seek stuff like Aqua, Fielder, Axio and Vezel etc.
I think the mazda 3 will maintain its pricing structure for now. If SS sites forex woes then watch out....this wont be mazda alone, expect increases across the board.
This is the new car thread and whatnot but folks, listen up, if your ride is doing its job reliably and comfortably then keep it. Forget series and forget who driving what. Right now, things real tight and I won't recommend anyone buying a new car in these unstable times unless you absolutely have no other choice.
limegreen wrote:Hey guys is there any data out there on the local auto market ? (transaction prices for new cars, MSRP and D/S inventory levels). Looking to get this info if possible... working on a project looking at US market dynamics (OEM driven directives on D/S and incentives) vs developing countries and how this distorts pricing.
Left my job in May 2020 (at an auto manufacturer) but still been lurking various forums to gain others’ perspectives and compare with what some of the data companies (like JD Power) put out.
agent007 wrote:Andy, this seems to be the rhetoric spewed by dealers as of late. Create fear so that you buy now. It's always better to buy now rather than later. It's like the dealership calculated opportunity cost for you in advance where it's always better to sink yourself in a depreciating asset as opposed to keeping said cash in the bank.
Anyway, those mazda 3's are all 1.5. I am not aware of any price increase by way of adjustment to duty and mvt. The only concessional removal the Minister spoke about was in relation to hybrids. So the Prius C, Ioniq and Niro fall directly into that category. As for grey market imports, woe unto those who seek stuff like Aqua, Fielder, Axio and Vezel etc.
I think the mazda 3 will maintain its pricing structure for now. If SS sites forex woes then watch out....this wont be mazda alone, expect increases across the board.
This is the new car thread and whatnot but folks, listen up, if your ride is doing its job reliably and comfortably then keep it. Forget series and forget who driving what. Right now, things real tight and I won't recommend anyone buying a new car in these unstable times unless you absolutely have no other choice.
Capleton wrote:limegreen wrote:
Most dealerships rarely give out MSRP figures, much less to get access to their inventory levels. What I would say is that the US market is a whole different kettle of fish from what we have here in T&T.
carluva wrote:I second these comments whole heartedly.
The new vehicle market in T&T sucks and rather than options available being driven by the consumer/purchaser, consumers have no choice but to purchase the paltry models being sold. This coupled with the exorbitant taxes, the so-called drain on foreign exchange and the unreasonable markup makes buying a new vehicle such an absolutely poor value proposition.
Who would have thought that a van, something that is marketed as a work horse in other countries (such as Australia or South Africa) is being sold here for what were "luxury import" prices all but a few years ago. And the CNG technology is still being marketed heavily here in T&T despite it being outdated and phased out in many countries around the world. Not to mention the poor array of hybrids and lacking features (typically for all types of vehicles and not just hybrids) compared to the counterparts elsewhere in the world... T&T, like many other third world countries simply get the reject stock for many reasons, but majorly because we have no standards regarding vehicle quality, emissions control/regulations, road and highway safety and crash safety ratings. This contributes to the fact that in this day and age, there are vehicles that still come equipped with two airbags and minimalistic safety features (such as lane departure etc.). T&T is effectively a dumping ground for vehicle trash that cannot even enter other markets and yet these same vehicles are sold at top dollar thereby maximizing corporate profits and returns.
No more is this plainly obvious when you compare some of the "standard features" on new vehicles sold by the dealerships to the features available on these same vehicles brought in through the grey market. Dollar for dollar, a new vehicle from the grey market has loads more features that it's dealership counterpart.
Truth be told, if you are single and have a good, functional, reliable and well maintained vehicle, or have at least one of the same as a family vehicle (assuming that there is more than one vehicle in your family), there is absolutely no need to part with your hard earned cash to buy a new vehicle or worse, finance with a bank for a seven year loan. This makes absolutely no sense.
And while this is a new vehicle thread, if you really need to get a vehicle, start on the second hand market. You will not believe the options and deals there if you look and do so diligently. 3-4 year old NP300s and Hiluxes could be sourced for <$200k. 3-6 year old Family SUVs such as RAV4s and X-trails for under $250k. 6 year old seven seater SUVs such as Fortuners under $350k. You want something a bit more executive? Try a 6 year old Prado for under $475k. While there is the argument that "why spend so much on a second hand vehicle when I can get a new vehicle for the same price?", you cannot compare apples with grapes i.e. you cannot compare the second hand Prado to a new RAV4. A second hand NP300 or Hilux with the new engines for $250k is a much better value that the facelift version for $385k. I always look at the second hand market to get a feel for prices and what the market has to offer.
What a purchaser needs to do when exploring the second hand market is to temper expectations - the vehicle will have some kms on the odometer; the seats, steering and gear shifter may have some signs of wear; there may be some minor body imperfections; there is not going to be that new car smell etc. Once you prepared to accept that, then the second hand marlet really has a lot to offer.
So, for those recent poster who looking at a Mazda 3 or Kia Seltos, unless you really need a new vehicle or there is not another vehicle in the family that is not "up to mark", keep your money and save in these times. If you really must have a next vehicle, give the second hand market a chance... Like me a few years ago, you can snap up a good buy which can become a keeper.agent007 wrote:Andy, this seems to be the rhetoric spewed by dealers as of late. Create fear so that you buy now. It's always better to buy now rather than later. It's like the dealership calculated opportunity cost for you in advance where it's always better to sink yourself in a depreciating asset as opposed to keeping said cash in the bank.
Anyway, those mazda 3's are all 1.5. I am not aware of any price increase by way of adjustment to duty and mvt. The only concessional removal the Minister spoke about was in relation to hybrids. So the Prius C, Ioniq and Niro fall directly into that category. As for grey market imports, woe unto those who seek stuff like Aqua, Fielder, Axio and Vezel etc.
I think the mazda 3 will maintain its pricing structure for now. If SS sites forex woes then watch out....this wont be mazda alone, expect increases across the board.
This is the new car thread and whatnot but folks, listen up, if your ride is doing its job reliably and comfortably then keep it. Forget series and forget who driving what. Right now, things real tight and I won't recommend anyone buying a new car in these unstable times unless you absolutely have no other choice.
Joshie23 wrote:carluva wrote:I second these comments whole heartedly.
The new vehicle market in T&T sucks and rather than options available being driven by the consumer/purchaser, consumers have no choice but to purchase the paltry models being sold. This coupled with the exorbitant taxes, the so-called drain on foreign exchange and the unreasonable markup makes buying a new vehicle such an absolutely poor value proposition.
Who would have thought that a van, something that is marketed as a work horse in other countries (such as Australia or South Africa) is being sold here for what were "luxury import" prices all but a few years ago. And the CNG technology is still being marketed heavily here in T&T despite it being outdated and phased out in many countries around the world. Not to mention the poor array of hybrids and lacking features (typically for all types of vehicles and not just hybrids) compared to the counterparts elsewhere in the world... T&T, like many other third world countries simply get the reject stock for many reasons, but majorly because we have no standards regarding vehicle quality, emissions control/regulations, road and highway safety and crash safety ratings. This contributes to the fact that in this day and age, there are vehicles that still come equipped with two airbags and minimalistic safety features (such as lane departure etc.). T&T is effectively a dumping ground for vehicle trash that cannot even enter other markets and yet these same vehicles are sold at top dollar thereby maximizing corporate profits and returns.
No more is this plainly obvious when you compare some of the "standard features" on new vehicles sold by the dealerships to the features available on these same vehicles brought in through the grey market. Dollar for dollar, a new vehicle from the grey market has loads more features that it's dealership counterpart.
Truth be told, if you are single and have a good, functional, reliable and well maintained vehicle, or have at least one of the same as a family vehicle (assuming that there is more than one vehicle in your family), there is absolutely no need to part with your hard earned cash to buy a new vehicle or worse, finance with a bank for a seven year loan. This makes absolutely no sense.
And while this is a new vehicle thread, if you really need to get a vehicle, start on the second hand market. You will not believe the options and deals there if you look and do so diligently. 3-4 year old NP300s and Hiluxes could be sourced for <$200k. 3-6 year old Family SUVs such as RAV4s and X-trails for under $250k. 6 year old seven seater SUVs such as Fortuners under $350k. You want something a bit more executive? Try a 6 year old Prado for under $475k. While there is the argument that "why spend so much on a second hand vehicle when I can get a new vehicle for the same price?", you cannot compare apples with grapes i.e. you cannot compare the second hand Prado to a new RAV4. A second hand NP300 or Hilux with the new engines for $250k is a much better value that the facelift version for $385k. I always look at the second hand market to get a feel for prices and what the market has to offer.
What a purchaser needs to do when exploring the second hand market is to temper expectations - the vehicle will have some kms on the odometer; the seats, steering and gear shifter may have some signs of wear; there may be some minor body imperfections; there is not going to be that new car smell etc. Once you prepared to accept that, then the second hand marlet really has a lot to offer.
So, for those recent poster who looking at a Mazda 3 or Kia Seltos, unless you really need a new vehicle or there is not another vehicle in the family that is not "up to mark", keep your money and save in these times. If you really must have a next vehicle, give the second hand market a chance... Like me a few years ago, you can snap up a good buy which can become a keeper.agent007 wrote:Andy, this seems to be the rhetoric spewed by dealers as of late. Create fear so that you buy now. It's always better to buy now rather than later. It's like the dealership calculated opportunity cost for you in advance where it's always better to sink yourself in a depreciating asset as opposed to keeping said cash in the bank.
Anyway, those mazda 3's are all 1.5. I am not aware of any price increase by way of adjustment to duty and mvt. The only concessional removal the Minister spoke about was in relation to hybrids. So the Prius C, Ioniq and Niro fall directly into that category. As for grey market imports, woe unto those who seek stuff like Aqua, Fielder, Axio and Vezel etc.
I think the mazda 3 will maintain its pricing structure for now. If SS sites forex woes then watch out....this wont be mazda alone, expect increases across the board.
This is the new car thread and whatnot but folks, listen up, if your ride is doing its job reliably and comfortably then keep it. Forget series and forget who driving what. Right now, things real tight and I won't recommend anyone buying a new car in these unstable times unless you absolutely have no other choice.
This is what I come to 2NR for. Two very well put together pieces, gents.
I was actually discussing the drawbacks of a new vehicle the other day and thought of bringing it to this thread, but 1) we have plenty rankers that would view these thoughts as 'sufferer thoughts' and 2) it is the new vehicle thread after all. One of the issues was Pricing; I remember pricing the 4x4 Manual Ford Ranger 5 years ago @ $208k OTR. Today, that same Ranger is $275k..$310k for the automatic...
Another issue was safety features or the lack thereof, etc...two airbags in a family vehicle in 2020? Really?
Again, wonderful insight guys. New vehicles are only appealing these days because of the convenience (which some dealers take away due to their shitty after-sale service) and ease of access to financing. Loans for a local used require 50% down, with a much higher interest rate, for up to 5 years. Using the example of the Hilux, 50% of $200k is $100k. Some people might say if I have to have $100k down, I might as well go new..lower interest rate, longer terms, insurance included in your installment etc. I mean, you can walk into a firm and get same day, 100% financing for 8 years for a $300,000 depreciating 'asset'. Whether the same can be said for a business loan or even a piece of land of similar value, is for another discussion in another thread.
*cough*
scotty_buttons wrote:Good info here Agent and Joshie
What about those who can afford a relatively new second hand vehicle. If I’m not mistaken, the limit for financing a second hand vehicle is one that is 10 years old? Older than that, crapaud smoke yuh pipe. I may be mistaken; please correct me if I am.
carluva wrote:I second these comments whole heartedly.
The new vehicle market in T&T sucks and rather than options available being driven by the consumer/purchaser, consumers have no choice but to purchase the paltry models being sold. This coupled with the exorbitant taxes, the so-called drain on foreign exchange and the unreasonable markup makes buying a new vehicle such an absolutely poor value proposition.
Who would have thought that a van, something that is marketed as a work horse in other countries (such as Australia or South Africa) is being sold here for what were "luxury import" prices all but a few years ago. And the CNG technology is still being marketed heavily here in T&T despite it being outdated and phased out in many countries around the world. Not to mention the poor array of hybrids and lacking features (typically for all types of vehicles and not just hybrids) compared to the counterparts elsewhere in the world... T&T, like many other third world countries simply get the reject stock for many reasons, but majorly because we have no standards regarding vehicle quality, emissions control/regulations, road and highway safety and crash safety ratings. This contributes to the fact that in this day and age, there are vehicles that still come equipped with two airbags and minimalistic safety features (such as lane departure etc.). T&T is effectively a dumping ground for vehicle trash that cannot even enter other markets and yet these same vehicles are sold at top dollar thereby maximizing corporate profits and returns.
No more is this plainly obvious when you compare some of the "standard features" on new vehicles sold by the dealerships to the features available on these same vehicles brought in through the grey market. Dollar for dollar, a new vehicle from the grey market has loads more features that it's dealership counterpart.
Truth be told, if you are single and have a good, functional, reliable and well maintained vehicle, or have at least one of the same as a family vehicle (assuming that there is more than one vehicle in your family), there is absolutely no need to part with your hard earned cash to buy a new vehicle or worse, finance with a bank for a seven year loan. This makes absolutely no sense.
And while this is a new vehicle thread, if you really need to get a vehicle, start on the second hand market. You will not believe the options and deals there if you look and do so diligently. 3-4 year old NP300s and Hiluxes could be sourced for <$200k. 3-6 year old Family SUVs such as RAV4s and X-trails for under $250k. 6 year old seven seater SUVs such as Fortuners under $350k. You want something a bit more executive? Try a 6 year old Prado for under $475k. While there is the argument that "why spend so much on a second hand vehicle when I can get a new vehicle for the same price?", you cannot compare apples with grapes i.e. you cannot compare the second hand Prado to a new RAV4. A second hand NP300 or Hilux with the new engines for $250k is a much better value that the facelift version for $385k. I always look at the second hand market to get a feel for prices and what the market has to offer.
What a purchaser needs to do when exploring the second hand market is to temper expectations - the vehicle will have some kms on the odometer; the seats, steering and gear shifter may have some signs of wear; there may be some minor body imperfections; there is not going to be that new car smell etc. Once you prepared to accept that, then the second hand marlet really has a lot to offer.
So, for those recent poster who looking at a Mazda 3 or Kia Seltos, unless you really need a new vehicle or there is not another vehicle in the family that is not "up to mark", keep your money and save in these times. If you really must have a next vehicle, give the second hand market a chance... Like me a few years ago, you can snap up a good buy which can become a keeper.agent007 wrote:Andy, this seems to be the rhetoric spewed by dealers as of late. Create fear so that you buy now. It's always better to buy now rather than later. It's like the dealership calculated opportunity cost for you in advance where it's always better to sink yourself in a depreciating asset as opposed to keeping said cash in the bank.
Anyway, those mazda 3's are all 1.5. I am not aware of any price increase by way of adjustment to duty and mvt. The only concessional removal the Minister spoke about was in relation to hybrids. So the Prius C, Ioniq and Niro fall directly into that category. As for grey market imports, woe unto those who seek stuff like Aqua, Fielder, Axio and Vezel etc.
I think the mazda 3 will maintain its pricing structure for now. If SS sites forex woes then watch out....this wont be mazda alone, expect increases across the board.
This is the new car thread and whatnot but folks, listen up, if your ride is doing its job reliably and comfortably then keep it. Forget series and forget who driving what. Right now, things real tight and I won't recommend anyone buying a new car in these unstable times unless you absolutely have no other choice.
Pirate wrote:Update to the BMW X3 Pricing:
X3 sDrive20i (Base) - $555,000
X3 sDrive20i (Midspec) - $635,000
X3 sDrive20i (M Sport) - $675,000
You have to special order the XDrive models if you want one...
agent007 wrote:Currently, one bank has a new vehicle loan special with a rate of 3.99% and a term of up to 8 years and no down payment required.
So the 2 cheapest brand new cars right now is a toss between the Toyota Agya 1.0 and the Hyundai Atos 1.0 where both can be had for as little as $115k. Next contender is the Chevy Spark 1.4 currently priced at $120k.
So what this means is, for $1,402. a month for the next 8 years, you can walk away with a brand new Toyota in time for Christmas!
According to the 40% total debt service ratio rule, if your salary is as low as $3,600. monthly, then you are qualified (once you have no other loans of course) and can produce 2 forms of valid ID, a job letter showing that you’re permanently employed for a min. of 2 years), a recent pay slip and a utility bill in your name.
j.o.e wrote:agent007 wrote:Currently, one bank has a new vehicle loan special with a rate of 3.99% and a term of up to 8 years and no down payment required.
So the 2 cheapest brand new cars right now is a toss between the Toyota Agya 1.0 and the Hyundai Atos 1.0 where both can be had for as little as $115k. Next contender is the Chevy Spark 1.4 currently priced at $120k.
So what this means is, for $1,402. a month for the next 8 years, you can walk away with a brand new Toyota in time for Christmas!
According to the 40% total debt service ratio rule, if your salary is as low as $3,600. monthly, then you are qualified (once you have no other loans of course) and can produce 2 forms of valid ID, a job letter showing that you’re permanently employed for a min. of 2 years), a recent pay slip and a utility bill in your name.
Trinis have to much false pride to buy those small cars and will continue to buy more car than they need
Capleton wrote:j.o.e wrote:agent007 wrote:Currently, one bank has a new vehicle loan special with a rate of 3.99% and a term of up to 8 years and no down payment required.
So the 2 cheapest brand new cars right now is a toss between the Toyota Agya 1.0 and the Hyundai Atos 1.0 where both can be had for as little as $115k. Next contender is the Chevy Spark 1.4 currently priced at $120k.
So what this means is, for $1,402. a month for the next 8 years, you can walk away with a brand new Toyota in time for Christmas!
According to the 40% total debt service ratio rule, if your salary is as low as $3,600. monthly, then you are qualified (once you have no other loans of course) and can produce 2 forms of valid ID, a job letter showing that you’re permanently employed for a min. of 2 years), a recent pay slip and a utility bill in your name.
Trinis have to much false pride to buy those small cars and will continue to buy more car than they need
The Agya is probably the most basic out of the lot, the Atos actually has some little features like rear ac vents, reverse camera and parking sensors that come standard (but you still get steel wheels). The Spark for $5,000 more not that bad, you get 4 airbags, alloy wheels, android auto/apple carplay and about 20hp-30hp more.
scotty_buttons wrote:Capleton wrote:j.o.e wrote:agent007 wrote:Currently, one bank has a new vehicle loan special with a rate of 3.99% and a term of up to 8 years and no down payment required.
So the 2 cheapest brand new cars right now is a toss between the Toyota Agya 1.0 and the Hyundai Atos 1.0 where both can be had for as little as $115k. Next contender is the Chevy Spark 1.4 currently priced at $120k.
So what this means is, for $1,402. a month for the next 8 years, you can walk away with a brand new Toyota in time for Christmas!
According to the 40% total debt service ratio rule, if your salary is as low as $3,600. monthly, then you are qualified (once you have no other loans of course) and can produce 2 forms of valid ID, a job letter showing that you’re permanently employed for a min. of 2 years), a recent pay slip and a utility bill in your name.
Trinis have to much false pride to buy those small cars and will continue to buy more car than they need
The Agya is probably the most basic out of the lot, the Atos actually has some little features like rear ac vents, reverse camera and parking sensors that come standard (but you still get steel wheels). The Spark for $5,000 more not that bad, you get 4 airbags, alloy wheels, android auto/apple carplay and about 20hp-30hp more.
That’s pretty impressive for the little Spark. I bet you don’t get half of those features with a Corolla.
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