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May 16, 2023 17:00:23 GMT
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My most expensive car was a 10k imprezza paid for with savings. 2nd highest was 7k. I'm after a new daily and the price of decent 2nd hand cars seems very high to me. Just spent money on the house so will probably need a bank loan for the new car as I wouldn't touch our savings for a car. The speed imprezas are increasing you would need to sell the house and get a bank loan! I’m the same most expensive was 10k for an impreza paid for with inheritance otherwise would never have owned it. 5 years ago a mint v3 type r was £10k, today there £60k. Back then you could also buy a 22b for £87-90k, today you will need quarter a million. I sold mine right before the prices went through the roof of course 🙄
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My most expensive car was a 10k imprezza paid for with savings. 2nd highest was 7k. I'm after a new daily and the price of decent 2nd hand cars seems very high to me. Just spent money on the house so will probably need a bank loan for the new car as I wouldn't touch our savings for a car. The speed imprezas are increasing you would need to sell the house and get a bank loan! I’m the same most expensive was 10k for an impreza paid for with inheritance otherwise would never have owned it. 5 years ago a mint v3 type r was £10k, today there £60k. Back then you could also buy a 22b for £87-90k, today you will need quarter a million. I sold mine right before the prices went through the roof of course 🙄 On the subject of buying with an inheritance, does anyone ever give any thought as to what the deceased might have thought?
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I've used loans severeal times, in the last few years the rates have been very low and payments well within my means so not really an issue, might think twice about it with rates at the moment though!
Next year it looks like I'm going to be paid to retire early so for the first time in my life I will have some fairly substantial cash in the bank, but with my pension being less than half my salary I need to find some restraint in spending it as it's got to last for a few years.
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misteralz
Posted a lot
I may drive a Volkswagen, but I'm scene tax exempt!
Posts: 2,338
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May 17, 2023 12:04:50 GMT
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On the subject of buying with an inheritance, does anyone ever give any thought as to what the deceased might have thought? -273⁰c
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thebaron
Europe
Over the river, heading out of town
Posts: 1,645
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May 17, 2023 13:59:54 GMT
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I've done 1,2,3,5.
Depending on the rates I tend to finance car purchases because I back myself to earn more investing the money I have on hand over the period of the loan than the interest I'll have to pay on the finance.
In case of emergency it's much easier and less punitive to liquidate a car than many other timed investments as well as being insured for the full value in case of loss.
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May 17, 2023 18:04:01 GMT
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On the subject of buying with an inheritance, does anyone ever give any thought as to what the deceased might have thought? -273⁰c Harsh,but funny harsh!
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May 17, 2023 19:45:00 GMT
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On the subject of buying with an inheritance, does anyone ever give any thought as to what the deceased might have thought? -273⁰c misteralz, I feel I need to admit that my initial reaction was "what's he on about? I don't know anyone called Kelvin" and then a split second later "absolute zero" came back to me from 40+yrs ago! Good old Mr Lavender, Physics teacher extraordinaire and MGB GT driver...
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Roach
Part of things
Posts: 717
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I got a loan not long ago to up my budget by 10k. I’ve not got a problem doing that. The payments are so low and I put it through as a business expense anyhoo… company car innit. 😁
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I got a loan not long ago to up my budget by 10k. I’ve not got a problem doing that. The payments are so low and I put it through as a business expense anyhoo… company car innit. 😁 But then you pay hefty tax on a company car nowadays, which is why very few self employed have them. Far more economical to buy it & claim business mileage back
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Dez
Club Retro Rides Member
And I won't sit down. And I won't shut up. And most of all I will not grow up.
Posts: 11,712
Club RR Member Number: 34
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May 19, 2023 11:23:07 GMT
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I’m amazed the ‘wheeling and dealing’ option isnt on there. I’ve got all the cars I’ve got by making a little on every other car I’ve ever owned (except two I think). When you’ve had over 500 cars, it soon adds up.
Sometimes the cars have just gone up in value in the time I’ve had them, sometimes I’ve improved them so increasing value. Someone’s I’ve just bought them because they were cheap and I knew I could flip them or break them for more. I’ll swap stuff, I’ll trade stuff, I’ll part ex, as long as the deal is in my favour.
I’ve not even worked it particularly hard I don’t think, I’m fairly cautious so would never buy something I wasnt happy to end up stuck with. I have cars I really know about and won’t touch certain others. My tastes have changed mildly over time so I’ve moved some stuff on because of that, and more importantly the market has pushed a lot of cars over their worth to me. Cars I enjoyed when they were cheaper, but I’d never pay the proper money they now command for one- stacklight mercs, Mazda b2000s, e28s, etc.
I’m now at a ‘stick’ situation and have been for a while, and I have more cars than I want. But I’ve had and enjoyed hundreds of cars getting there, so I truly know what I do and don’t like and want.
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May 20, 2023 12:54:35 GMT
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Sadly the car of my dreams is a De Tomaso Pantera, so I'll need to sell my house before I can afford that. Sell house, buy Pantera. Post pics.
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May 20, 2023 13:39:56 GMT
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I have done all of those, except for the last four! I would consider prostitution, but can't imagine anyone paying me for it! Same 🤣 The problem with saving up is, unless it's something that is loosing or holding value then you may always be too far behind to get what you want. I've always wanted a original NSX, I could potentially have bought a cheaper one (early non PAS Auto import) pre covid but couldn't justify it. Now the same car is £20k+ more, cementing it in the category of thing's I won't be owning lol.
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Last Edit: May 25, 2023 7:27:41 GMT by joem83
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May 24, 2023 10:24:50 GMT
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This is an interesting subject.
I always used to be savings and nothing else, but as Hotwire has alluded to, this can mean that your dream cars appreciate out of reach as you attempt to build up the funds to buy one. If you are financially astute and can take some risk, then a loan (at a decent rate) can mean you get your dream, enjoy it whilst you are paying for it AND end up with the asset at the end of the loan.
If you are able to sell vehicles as HARDCORE has done, then this is also a totally viable route to dream vehicles. With the kinds of cars that this place is built around we should just be custodians of them, so moving them on to another loving owner isn't something to be frowned upon. Enjoy them, sell them and build up to your dream 'keeper'.
J
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May 24, 2023 23:55:19 GMT
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Have only saved up or taken loans from family and friends. I've also sold other stuff I have like collectible video games, trading cards, Hot Wheels, and scale models to fund purchases as well, basically balancing how much a car would make me happy versus other possessions. I even ended up doing some very light trading and dealing in that kind of collectibles space.
As for the other options there are definitely ones I'd consider. I'd absolutely sell other cars, but I've never had one I wouldn't miss that's also worth selling. I could see myself taking out a loan depending if it's also a genuinely practical car worth financing, but loved ones have always been a better route for my price range and situation.
Finally doing legal, and I must stress legal, sex work is an option I've actually looked into but that my living situation made unfeasible. This could be partly because I know people who have done that kind of thing to support themselves so to me it just kind of reads as running any other business, and a second income seems by far the most reasonable way to fund an expensive hobby. Like I know the prostitution thing was included as a joke but I'd genuinely rather do that than go into debt or something.
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B3 Passat G60 Syncro-daily Mk1 Jetta Coupe-project Mk2 Jetta Trophy-16v-parts Dodge D-50-beater truck
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Have only saved up or taken loans from family and friends. Total aside to this thread, but are you the person that I sent a colouring book to in Victoria BC?
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misteralz
Posted a lot
I may drive a Volkswagen, but I'm scene tax exempt!
Posts: 2,338
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May 25, 2023 11:38:07 GMT
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Finally doing legal, and I must stress legal, sex work is an option I've actually looked into but that my living situation made unfeasible. This could be partly because I know people who have done that kind of thing to support themselves so to me it just kind of reads as running any other business. I've a friend of a friend who has an utterly filthy Onlyfans, but in real life she's honestly one of the most wholesome folk ever. The filthy persona pays for her hobbies and holidays.
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Last Edit: May 25, 2023 11:40:52 GMT by misteralz
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May 25, 2023 16:47:18 GMT
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Total aside to this thread, but are you the person that I sent a colouring book to in Victoria BC? No, sorry! Right province, wrong region.
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B3 Passat G60 Syncro-daily Mk1 Jetta Coupe-project Mk2 Jetta Trophy-16v-parts Dodge D-50-beater truck
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May 25, 2023 18:37:56 GMT
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The stuff I like tend to be on the older end of the scale so any and every purchase is a gamble. With that in mind I'd never consider loans, even from family. The potential for diaster is high.
I tend to buy the worst version of what I'm after and go from there, though thats not always intentional.
I might start an onlyfans account where I seductively grease wheel bearings and re bleed brakes showing plenty of plumbers cleavage.
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May 25, 2023 20:07:01 GMT
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I sold off a collection of 12 bikes that I had gathered at one point, kept 1 of them and with the collective funds I bought 2 bikes I really really wanted and also gained a ton of open space in my garage.
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More vintage bikes than cars 1959 Fiat 500 Nuovo America
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I have had over 100 cars and only ever financed one. It was a great car but having monthly payments hanging over me was a big downer. As well as an outlet for enjoyment, I also see cars as investments so would have no issue with using my savings to pay for cars. In fact my savings are my cars which can be sold if ever I need the money for anything else.
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