Hi.
It's not all about the absolute numbers. It's about how much you will spend on variable costs + how much you will lose over a specific period of time.
When you buy a new car, these are the major costs:
Import value of the car OMV
ARF 100% of OMV
Import Duty 20% of OMV
GST 7%
Dealer margin.
There are other incidentals like local accessories (leather, alloys, ERP IU, number plates, solar film etc.)
The above is academic. The only categories of people who would buy a brand new car over used are:
1) The company foots the bill so the loss is irrelevant
2) They haven't done their research on used car values
3) Have a strong aversion to used cars and are prepared to pay the premium
4) Have overestimated the disposal value based on the salesman's representations
5) Are afraid of used car dealers
6) Must buy a particular model that's so rare on the used car market.
I can make a sweeping generalisation here. If you want to keep your costs down, buy used. There are ways of mitigating the risks like independent professional checks etc.
There is a lot of information on how to buy a used car out there. Spend a bit of time now, save a lot of money later.
As for variable costs, these include insurance (which is climbing), road tax (which has gone down a lot), parking, ERP, maintenance.
The other major cost is interest which when quoted (eg 2.88%) is not the effective rate. And the effective rate is even higher if you terminate the loan early (eg, take a 7 year loan even though you intend to own it for 3 years).
Anyway, there are loads of helpful members here who will answer specific questions
Good luck!
