Unsecured car credit with CCJ and a large deposit

somethingcorporate

sharpy2010 wrote: »

So you have a salary of about £50k and drive around in a car worth £650... Something doesn't quite add up here!

????

We have a household income of over £100k pa (pre-tax) and drive around in a 11 year old Yaris worth about £900. I turn down a decent company car, I'd rather the money in the bank rather than driving round in a flashy tin for no purpose aside from getting from A to B!

This is MSE don't you know?

To some people a car is just not that important.

Edit: My wife's old boss was a partner in a law firm making £100k+ a month and drove around in a rover worth less than £500!

ILW

there is a certain feeling of freedom in driving something you do not care about.

Park your brand new £40k Merc outside your house and you will be running to the window at every slight noise you hear. Can be rather stressful

Daniluvsuall1

heathcote123 wrote: »

Thats so sad. Wanting a Mercedes E class at 20. You'll have plenty of time for that later in life when you're the balding regional sales exec for the Northern area. I'd have some sympathy if it was a ferrari, but any 40k ferrari will eat you alive in maintenance on 35k.

How about a 911 996 for under 15k? Or maybe more sensibly, a sub 10k late 350z?, at your age either of these will see you needing to beat the chicks off with a !!!!!! stick. And thats whats its all about isn't it? You may even enjoy driving them, which is proably more than can be said for your rather soul-less dream car. Really, you will get bored of it.

Ahh you see big petrol cars don't appeal to me, well they do but the fuel bill and range is enough to put me off.

The dream was a large 4 seated cabriolet that gets atleast 30MPG and would be mice to drive as well as had some umph and a bit of nice tech in the background hence;

Mercedes E350 CDI BLUEEFFIENCY Cabriolet.

I'm not a snob and it'd be parked outside my humble flat..

I may be 21 but I do have some common sense

Daniluvsuall1

ILW wrote: »

there is a certain feeling of freedom in driving something you do not care about.

Park your brand new £40k Merc outside your house and you will be running to the window at every slight noise you hear. Can be rather stressful

I agree, but anything I had.. No matter how crap I'd some how end up getting attached to - tis a passion thing for me I'm afraid.

Except for a 106 I had once.. Hated it.. Was far too common car.

Kitte

ILW wrote: »

there is a certain feeling of freedom in driving something you do not care about.

Yes, this is it. An older friend of mine once commented that driving around in a low value car that you are not either financially or emotionally attached to is like removing one of life's stress factors.

heathcote123

Daniluvsuall1 wrote: »

Ahh you see big petrol cars don't appeal to me, well they do but the fuel bill and range is enough to put me off.

The dream was a large 4 seated cabriolet that gets atleast 30MPG and would be mice to drive as well as had some umph and a bit of nice tech in the background hence;

Mercedes E350 CDI BLUEEFFIENCY Cabriolet.

I'm not a snob and it'd be parked outside my humble flat..

I may be 21 but I do have some common sense

If you're looking at borrowing 30k, depreciation is going to far outweigh any mpg concerns...No need to worry about it being big either, unless those in the back are paying!

How about this: http://www.pistonheads.com/sales/1874189.htm
bang on budget & proper drug dealer street cred.


..or maybe http://www.pistonheads.com/sales/3342996.htm


Or if you can live with something a little smaller & more sensible on running costs, how about a saab thats barely been driven?

http://www.pistonheads.com/sales/3353291.htm

10k buys a lot of fun when it comes to cars. Just need to widen your horizon a little.

Incidentally, you should probably buy a house first before spending loads of money on flash cars if you havent done so already...

zenmaster

Daniluvsuall1 wrote: »

I am sorry if I "offended" the forum but I asked a genuine question of which I received a genuine response which is what I had expected it to be - I am not in "la la land" and I work very hard for my money, why a thirteen year old dream up a CCJ and ideas of finance is just flippant.

I am quite offended that my queries have been deemed as childish but I do understand what I asked may have seemed unrealistic, I need confirmation.

I think ILW was complimenting you. You've been told it's a dumb idea and you have taken in good part unlike many who throw their toys out of the pram if anyone disagrees with them.

Really, your £40k car will be worth <£30k in a couple of years. Set your sights on one of those instead.

Kitte wrote: »

As a bit of a car nut, albeit a few years older than you, I do have to agree with the majority of the posters on the thread so far. I've had some nice cars in the past, equal or more than my gross salary at the time, but I can honestly say I'm happier now driving around in an £650 banger equal to between 1 and 2% of salary an I was when it was 100-150%!

If anyone had told me this then mind, I'd not have listened

I paid £700 for a Volvo estate 3 years ago and I can honestly say it's one of the best cars I've ever had. So the remote locking does not work and one of the back seats doesn't fold down properly but it drives like a dream.

Someone drove into the back of me a couple of weeks ago and trashed the boot. It's annoying but I didn't lose any sleep over it and the insurance company have just sent me a cheque for more than I paid for the car. That's MSE :money:

dealer_wins

The madness of buying a £40K car on credit will be to the tune of about £60K over 5 years with interest and depreciation.

Still I guess thats the price of living beyond your means these days, ho hum.

KingElvis

Nice car, I wouild go for it.

Daniluvsuall

heathcote123 wrote: »

If you're looking at borrowing 30k, depreciation is going to far outweigh any mpg concerns...No need to worry about it being big either, unless those in the back are paying!

How about this: bang on budget & proper drug dealer street cred.


..or maybe

Or if you can live with something a little smaller & more sensible on running costs, how about a saab thats barely been driven?

10k buys a lot of fun when it comes to cars. Just need to widen your horizon a little.

Incidentally, you should probably buy a house first before spending loads of money on flash cars if you havent done so already...

Ahh.. I'm nothing if not thorough.

The old Merc is.. well.. ugly, Plus the new E-Class cabrio has that nice 7 speed Steptronic auto (not quite a manual which is what I'd prefer but it's just as good.. probably double clutch too.)

The Beemer is beautiful if not under powered, My last idea was to get a 330cd but it's only 206BHP I believe where as the Audi I'm looking at the A4 3.0TDi Cabriolet is 236 (Although most of them have a horrendous auto gear box.. GRRR!!)

Ideally, I'd like a descent size oil burner in a 307 or 308 CC - It's not about the badge but it would appear if I want something that's got some guts and has 4 seats and a folding roof I have to go down the German route (The French just don't get it do they?)

The Saab is lovely and essentially a Vauxhall Vectra underneath with that bulletproof Fiat Diesel under the bonnet but once again.. It's not powerful enough at only 150bhp.

See my reasoning?

It's not about street-cred for me, I drove a Nissan Almera for months which I loved even though I probably brought the average age of the Almera owner down by about 25 years - It's about something that's got some guts and I can throw into corners with some nice comfy seats.

I'd prefer a 6 Series but there stupidly priced.. (Drewling at the thought of a 640d)