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Old 08-21-2004, 17:06   #1 (permalink)
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HSV Desperate for sales

I saw in the Herald Sun cars Guide a brief article about HSV offering a "just add fuel" campaign ( read the fine print and it also includes tyres ).

For the sum of $ 299 per week you can have a HSV Club Sport, including Registration, Insurance, Repairs and Maintenance for two years. At the end of the two years you just hand it back with nothing else to pay, Dealer charges still apply on the purchase.

If I could make a couple of bold but not unreasonable assumptions.

This finance would equate to approximately two years with a 60% residual and an effective interest rate of 7.66%. Obviously this ignores the cost of the add ons such as insurance etc.

Obviously they weren't game to offer this until certain people had changed their cars over. The problem with offers like this are the poor suckers who actually purchased one have been raped and pillaged on their resale also it doesn't apply to that sales winner plastic fantastic the Avalanche. And for me the worst point of all you have to drive a Holden.


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Old 08-21-2004, 17:42   #2 (permalink)
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Re: HSV Desperate for sales

Quote:
Originally Posted by GTP151
I saw in the Herald Sun cars Guide a brief article about HSV offering a "just add fuel" campaign ( read the fine print and it also includes tyres ).

For the sum of $ 299 per week you can have a HSV Club Sport, including Registration, Insurance, Repairs and Maintenance for two years. At the end of the two years you just hand it back with nothing else to pay, Dealer charges still apply on the purchase.

If I could make a couple of bold but not unreasonable assumptions.

This finance would equate to approximately two years with a 60% residual and an effective interest rate of 7.66%. Obviously this ignores the cost of the add ons such as insurance etc.

Obviously they weren't game to offer this until certain people had changed their cars over. The problem with offers like this are the poor suckers who actually purchased one have been raped and pillaged on their resale also it doesn't apply to that sales winner plastic fantastic the Avalanche. And for me the worst point of all you have to drive a Holden.


Steven
May the Ford God continue to plague and curse all who come from the dark side . One of the poor bastards who used to negativise all over this site went there. And look what happened to him, now he has to drive an Aventra thing which IMHO will devalue quicker than those India TaTa's or Mahindras which cursed our roads for a short time before they fell to bits I wonder what FMC is going to do to match the offer
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Old 08-21-2004, 17:44   #3 (permalink)
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Re: HSV Desperate for sales

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I wonder what FMC is going to do to match the offer
Nothing I hope as I can't afford to get out of the XR8
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Old 08-21-2004, 18:28   #4 (permalink)
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Re: HSV Desperate for sales

Quote:
Originally Posted by GTP151
I saw in the Herald Sun cars Guide a brief article about HSV offering a "just add fuel" campaign ( read the fine print and it also includes tyres ).

For the sum of $ 299 per week you can have a HSV Club Sport, including Registration, Insurance, Repairs and Maintenance for two years. At the end of the two years you just hand it back with nothing else to pay, Dealer charges still apply on the purchase.

If I could make a couple of bold but not unreasonable assumptions.

This finance would equate to approximately two years with a 60% residual and an effective interest rate of 7.66%. Obviously this ignores the cost of the add ons such as insurance etc.

Obviously they weren't game to offer this until certain people had changed their cars over. The problem with offers like this are the poor suckers who actually purchased one have been raped and pillaged on their resale also it doesn't apply to that sales winner plastic fantastic the Avalanche. And for me the worst point of all you have to drive a Holden.


Steven
Would this be on a lease/salary sac type of arrangement? How many Km can you/are you allowed to do? Is the $300 pre tax or post tax? Its confusing because you have to buy your own $8k of fuel so this wouldn't be part of the lease package. Otherwise a quick calculation shows this deal would cost someone $29k plus at least $8k for fuel and who knows what other hidden costs so a total of at least $37k over 2 years after tax dollars, just to "drive one". You can pick em up under $50k now, would be cheaper to take out a loan at housing loan rates pay the $6k interest for the 2 years, add the fuel $8k, depreciation say $15k so total of $29k. Any finance expert here explain this one?
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Old 08-21-2004, 20:01   #5 (permalink)
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Re: HSV Desperate for sales

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Originally Posted by Sweet Red
Would this be on a lease/salary sac type of arrangement? How many Km can you/are you allowed to do? Is the $300 pre tax or post tax? Its confusing because you have to buy your own $8k of fuel so this wouldn't be part of the lease package. Otherwise a quick calculation shows this deal would cost someone $29k plus at least $8k for fuel and who knows what other hidden costs so a total of at least $37k over 2 years after tax dollars, just to "drive one". You can pick em up under $50k now, would be cheaper to take out a loan at housing loan rates pay the $6k interest for the 2 years, add the fuel $8k, depreciation say $15k so total of $29k. Any finance expert here explain this one?
It's not dissimilar to the old (and horrible) Red Carpet options type of deal except there is no trade in valuation in the equation - the RV itself is the trade.

From the sellers viewpoint they are working on standard fully maintained lease figures to assess the averaged running costs (less fuel) and the 2 year time frame has been struck as it should equate to the sweet spot for operating costs - the reasons a lot of fleets now use this time period.

Given that figures for 2 year resale aren't generally available it's a little hard to assess whether this is a reasonable deal or not - but lets look at a few numbers.

Ignoring fuel, the maintenance costs for 2 years, assuming 20k km per annum will break down thus:

Scheduled Servicing: $ 1,100
Tyres (1 set) 1,980
Registration (Vic) 1,080
Insurance (30+ low risk) 2,500

Total: $ 6,660

The original purchase price of the car is around $63k including Vic Stamp duty and if we assume a standard 3 year 40% CHP this would amount to $1,346 per month. Ignoring the tax implications of the two different methods the actual raw costs are thus:

HSV Plan - Total 2 year cost: $ 31,096
CHP - Total 2 year cost: $ 38,904

However we need to look at the value of the CHP vehicle at the end of the 2 year period before we can equate these deals. The HSV Plan has a zero RV for the customer so lets look at the maths for the CHP.

Finance payout at 2 years: $ 38,510
Resale Value of car at 2 years: $41,990 private sale (source Carsales.com - VX2 with 40-45k km.)

Net Value: $ 3,480

Difference in total cost between HSV Plan & CHP: $ 4,328 better.

This works for HSV because they will use trade based costs on service components, do a deal for insurance and tyres and sell them with a retail margin at the end of the 2 years. You would expect that if there is a large take up on this that the resale value will suffer as they all hit the used market at around the same time but I am sure that is factored in.

Cheers
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Old 08-21-2004, 20:39   #6 (permalink)
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Re: HSV Desperate for sales

I sell new holdens and HSV's, and you are only allowed 15000km per year and it does not include tyres, it is only available on clubsport and it is not a novated lease so you pay after tax $$$$$
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Old 08-21-2004, 21:12   #7 (permalink)
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Re: HSV Desperate for sales

Quote:
Originally Posted by GTP151
I saw in the Herald Sun cars Guide a brief article about HSV offering a "just add fuel" campaign ( read the fine print and it also includes tyres ).

For the sum of $ 299 per week you can have a HSV Club Sport, including Registration, Insurance, Repairs and Maintenance for two years. At the end of the two years you just hand it back with nothing else to pay, Dealer charges still apply on the purchase.

If I could make a couple of bold but not unreasonable assumptions.

This finance would equate to approximately two years with a 60% residual and an effective interest rate of 7.66%. Obviously this ignores the cost of the add ons such as insurance etc.

Obviously they weren't game to offer this until certain people had changed their cars over. The problem with offers like this are the poor suckers who actually purchased one have been raped and pillaged on their resale also it doesn't apply to that sales winner plastic fantastic the Avalanche. And for me the worst point of all you have to drive a Holden.


Steven
I wouldnt say it's desperate for sales, just marketing. It's actually not a very good deal to pay $30,000 to rent a Clubsport for 2 years and only being able to do 30,000km in the whole two years, I would say it wouldnt depreciate more than $15,000 MAX - anyone who gets sucked in to that deal is brainless. For impulsive buyers $299 per month will grab their attention as they think "oh i can easily afford that" its just a runout sale on the VY.
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Old 08-21-2004, 21:45   #8 (permalink)
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Re: HSV Desperate for sales

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Originally Posted by Hypnodoc
devalue quicker than those India TaTa's or Mahindras which cursed our roads for a short time before they fell to bits
Did they come to australia! We have one in india but it's a Tata Sumo!
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Old 08-22-2004, 02:14   #9 (permalink)
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Re: HSV Desperate for sales

I've noticed one of the dealers in Sydney for the last few weeks advertising Clubsports at SS price & R8 at Clubsport price which sounds a fair bit better deal then free leather that FPV are offering but interesting to see how reslae will be effected by these kinds of deals.
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Old 08-22-2004, 02:23   #10 (permalink)
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Re: HSV Desperate for sales

FPV offer free leather to the dealer to help move cars where as HSV offer a $3000 bonus to the dealer to help sell the cars cheaper, Cheap HSV's are the result of the $3000 bonus plus all the Margin in the car discounted, remember if a car is discounted $10000 the dealer saves $1000GST and in an R8 if you discount $10000 you save GST plus $2500 in luxury car tax, remember that with a GT the leather is free but FPV is paying for it, the dealer still has $6000 grand margin to play with, there is alot more to the price of a car than first appears.
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