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Posted by: Rocket Sep 9 2010, 06:23 AM

Crunching the numbers!
The Auction of the 2 Elantras happens tomorrow. To buyor not to buy? What constitutes a bargain price? Been pondering these questions today.

The Silver 2006 Auto Elantra in this Thread cost $2,000 under the hammer. Bargain? Might seem so, but not so sure after paying everything along the way. Here are the actual figures -

Price bid to own car $2,000
Auction Fees $ 215
Towing $ 88
Train to Adelaide $ 380
New Tail light $ 125
New Plugs/Leads $ 124
Tier 3 Inspection $ 269 ( This is a comprehensive check by Motor Registration Division to determine correct identity of vehicle )
Roadworthy $ 221 ( Compulsory inspection by Motor Registration Division for Written off vehicles )
3 months Registration$ 330

Total $3,752

But hang on, the $3,752 does not include the cost of panel and paint! We are fortunate to have our own panel shop, but it still costs money to run. We allow one week for each car ( average ), and cost this at a very conservative $1300 plus $275 in materials. This would be close to break even costs only.

Total cost of this car now adds up to $5,327. So is the $2,000 car still a bargain?........ Very subjective! A quick check of cars for sale shows a couple of higher kilometre cars for sale around this price, but an average price of 8-9,000 dollars for cars with similar klms. If we were doing this purely for profit, i think there are easier ways to make a dollar.

Based on the prices above, the cars i am considering buying tomorrow will need to be priced under $2,000.

I actually prefer the red car because it looks a bit tidier. The silver car has a tow bar which if used regularly may have stessed the drivetrain. Problem is - the silver car goes up at lot no.2 in the Auction. It is my experience that cars that are auctioned early are cheaper. This is because a lot of people have not arrived at the auction yet. I hope it will finish at about $1500. If so, i will buy it. Here are the 2 cars. Which would you be buying?













My plan of action will be the silver car at $1500 or less. If it goes over that i will go up to about $2200 for the red car. But things happen quickly at auctions, so the plan may change when it gets underway tomorrow.

Rocket.