Spot the new changes on car prices!
Question of the day: Is this the right time to purchase a new car?
Find out the latest prices of the following models by clicking at links provided.
1. Proton Saga: http://www.proton-edar.com.my/index.php?page=newsaga
3. Honda City: http://honda.com.my/city/overview/
Based on our observations, it seems like there are a lot of new cars have been spotted to increase in price at the beginning of this year. One might ask if this is a right time to purchase a new car? The best answer that we could give is that, once the car prices have been increased in any given year, the prices would remain constant throughout the year and most importantly, any discounts would not be available for those cars. In any given situations, we are associated with a pricing risk and here are the examples:
1. If you buy now, after n period, the price goes down. You lose money!
2. If you buy now, after n period, the price goes up? You gain money!
Are you risk-averse? Are you willing to take the higher risk or the lower risk? These questions only become reasonable when we can predict the expected value of loss or profit that might happen. Can we calculate those expected value in real life? Well, if we ask the statistician and the math people, they might! But not us! Can we solve this issue? The reason why we brought this up is to teach you how to be a smart consumer/customer.
Here are some tips that might help you:
1. Identify the change in price.
2. Observe the difference in discount availability.
3. Always find out the latest interest rate.
4. Look around if everyone else buying the same car as you might!
5. Learn the quality of the new car from others.
6. Look for other alternative! Other choices!
7. Lastly, purchase your new car and be happy with your choice!
These are all common senses for some of you who are “smart” and some of you may take these steps for granted, but remember that two minds are never alike. Share with us your thoughts and opinions about this topic! Feel free to say anything!