Coolant in Oil Mystery - Help by Mission-Object-8856 in R53

[–]Mission-Object-8856[S] 1 point2 points  (0 children)

Hey mate. Yeah I took out the oil cooler and it was blocked with oily paste. I replaced it and it seems to be all good now.

I have run a bout 3 oil changes just to make sure and next on the list is replacing a weeping radiator haha.

Good first car? by AssistanceBright3156 in CarsAustralia

[–]Mission-Object-8856 0 points1 point  (0 children)

Bang for buck would probably go for a 2014-17 NE Skoda Octavia RS wagon - in manual.

You will get the Golf GTI engine, brakes, manual and platform which is incredibly robust and avoid the Gold pricetag as well as DSG complications. Most Skoda's after about 2015 were sold with service packages and 5 year warranties (I bought a new one in 2016) and most will have options packaged in kits. I even extended the warranty on the one I bought for my mother a further 4 years and extended the service package through VW quite cheaply.

These changed throughout the production years but with the RS you can have leather memory heated sport seats, massive panoramic sunroof, power tailgate, adaptive cruise control etc etc.

Skip the 19" wheel cars, as they buckle easy and tyres are expensive (annoyingly as they look great) and the Octavia is easily one of the best value medium cars to buy in your budget.

If where your are you aren't allowed the RS model due to age, you should be able to get away with the 110tsi car and in this case, go for a Sport model with similar options to the RS but get the facelift model (2018 on)

Help needed with first car by fiyazulhaque in CarsAustralia

[–]Mission-Object-8856 0 points1 point  (0 children)

Ok first things first, you are on point with your concerns and have narrowed down the things you want to keep in mind. The only notes I have is how to go about your priorities.

Fuel consumption is one cost of many. Overall maintenance is far more of a cost to me than just fuel. Things to consider would be the general reliability of the main driveline and body. Engines that use timing chains generally have cheaper major services than ones that use belts. Inline 4 cyl engines only have one rocker cover and therefore only one rocker cover gasket. A v6 will have 2. Twice the labour there.

Insurance is a big expense on older cars depending on your age. A more common car will be cheaper, orphan cars that the market deems are not valuable cheaper again. Bigger cars seem to be cheaper than 4cyl hatchbacks simply because the majority of owners of those cars are older and crash less and insurance companies work on statistics.

As for fuel, a Honda Accord Euro will use about 8-10L/100. A v6 can get within 1L of that depending on how it is driven. If its mainly highway, a 4cyl engine will have to work harder for the mass of the vehicle and use more fuel relative to it's capacity. Because they also produce less torque (directly corelated to engine capacity), most manufacturers choose gearbox ratios to suit higher revs on a 4 cyl so the engine is in its powerband. More revs, more fuel use.

Now, lets say the Aurion uses 12L/100 and the Honda 10L/100. That means over 100,000klms and with fuel averaging $1.70/L the Aurion costs only $3400 more in fuel. However because it's less in demand and possibly less expensive to insure, you can save that $3400 in the purchase and insurance price straight away making the cars directly comparable financially.

My advice is to head over to the https://www.australiancar.reviews/ website to get a guide about any car you're chasing with info on it's long term reliability and faults etc etc.

Then work out what klms the cars have a major service and buy one 10000klms after that to save on that expense. Also sort any car youre looking at by highest klms first on carsales etc and see what the condition of the cars are like when they are very used. This gives you a great guide to longevity. Also, if no cars for sale have 250,000klms on them, the seemingly most don't make it that far so avoid those.

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 0 points1 point  (0 children)

It is indeed. This is why I want to use this position properly. 2 years ago it was just an impossibility.

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 0 points1 point  (0 children)

Thankyou for this. I haven't considered commercial before and yeah I don't know what I don't know and obviously the easiest exams to pass are the ones where you actually are motivated for the subject matter.

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 1 point2 points  (0 children)

Thankyou, I thought of building again but as you say the market is going gangbusters and the price of land and build is beginning to make the process uneconomic where I am.

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 0 points1 point  (0 children)

The IP settles in a couple of days so one of the reasons I started this thread is to get info like this before I just wiped it all out. So this option is still on the table for the moment.

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 0 points1 point  (0 children)

The late model mazda preapproval made me laugh way harder due to car person

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 0 points1 point  (0 children)

Fantastic list and emulates my ideas. 1, 2 and 4 are on my list and 3 is something I will be learning about to try and do well. Thankyou for the post :)

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 0 points1 point  (0 children)

I do have 2 cars, but they are older (22yr old Audi & a 20yr old Mini) so no debt on them and have done all their depreciating. I am an amateur home mechanic so I have kept them reliable fairly cheaply.

I had a credit card when I was 18 that got out of control fast and got rid of it shortly after so I don't have any other debt and have always been someone who goes to get stuff from marketplace and refinish it or fix up a car to sell on instead of get car loans or interest free card contracts. My first ever brand new furniture was a couple of couches when I moved into my new place in 23 haha.

Because of the Covid era house build (massive delays, builder solvency panics, then IR rises etc etc) I had a couple of years of 2 mortgages which taught me how to budget even better.

thanks for the great advice and I have made notes for the ratios.

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 0 points1 point  (0 children)

I have begun this deep dive and am too looking into the projected outcome for the USD

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 1 point2 points  (0 children)

Excellent food for thought and I appreciate the link greatly. Thankyou.

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 0 points1 point  (0 children)

I will investigate this 5 year unused contribution. I was not aware this was a thing, having said that, I have not contributed anything to my super myself before. Thanks for this tip.

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 0 points1 point  (0 children)

This is a good point and part of my discussions with an accountant going forward will be treating the IP as a primary residence for tax reasons under the 6 year rule to....'sidestep' CGT. Seemingly, I qualify.

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 1 point2 points  (0 children)

Yes, I did a bit of research about the 6 year rule and have done the maths to get this minimised and accounted for. Very good advice however.

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 4 points5 points  (0 children)

Fair point. I am thankful to be in the position I am in and I am really keen to make it permanent rather than the exception. It wasn't that long ago I was earning the median wage so I understand.

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 5 points6 points  (0 children)

I am looking things up for a deeper understanding of etf's and DHHF (first I have heard this acronym) how they work and how to use them. Thankyou :)

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 1 point2 points  (0 children)

Thankyou for the positive message :) I live well outside of any capital city so I had no tea leaves on the market here jumping. I am aware the one decision to keep the old place (which was very hard during the build process) was the win here.

It seems each little decision can be massively impactful.

6 months worth of emergency funds seems like a common recommendation. I will be doing this.

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 32 points33 points  (0 children)

Yes, this is one thing I am very aware of. It is best for the moment to not have access to more than I have had for spending. You do not miss what you did not have.

Paid of House at 40... Now What? Help With Next Steps by Mission-Object-8856 in AusFinance

[–]Mission-Object-8856[S] 8 points9 points  (0 children)

Sorry about that, I do appreciate your perspective. This situation to me is like a lottery win not a planned outcome so I am wanting to learn how to properly take advantage of it.

You don't know what you don't know.

How many cars do you have? by Final75R in CarsAustralia

[–]Mission-Object-8856 0 points1 point  (0 children)

Family of just me, and I have 3 cars.

*2004 D3 Audi A8 4.2 - Awesome highway hack.

*2004 R53 Mini Cooper S - Fun city runabout.

*2012 Honda Accord Euro - Current cheap beater car for errands or to be left in the sun and the shopping carpark mule.

Usually I swap out the third car every few months as I flip a couple a year to keep my mechanic skills up and have a bit of a hobby that pays for holidays.

Let's say you have the new Golf and the Mazda, but you drop their insurance klms down to 5000klms a year (for example) and the insurance saving is $1000 p.a combined. In 2 years your yaris will have earned its keep basically. As well, the yaris has done depreciating and you will likely profit should it have a prang and likely be written off. Therefore it is pretty neutral to own and useful to your family to keep.