I recently purchased a Honda CR-Z over Trade Me via a private sale. This machine is amazing – it goes 887 kilometres off a $67 tank of gas, adding a full 220 kilometres to my past, still-relatively-fuel-efficient, vehicle.
The machine is in near perfect condition and looks set to last many years. It saves me nearly $20 a week in gas and with petrol inflation factored in, looks set to generate return on investment of over 13%, paying for itself over 7.5 years. Best of all, it cost me only $8,500 when the market value is over $11,500.
How did I get such a machine at a 26% discount? By knowing the market, watching the models I was interested in, negotiating hard (but fair). Essentially, by being the only one looking.
Every week, new hybrid models are coming up online, often trading at a discount to what they’re worth. After a model has been on the market for a few weeks it’s ready to move, often at a discount price. Keeping an eye on the market is often a worthwhile thing.