Remortgaging

UsernameAlreadyExists

Rent your dream car for a week, or a month, or something. See how it pans out.

IMHO A car is a car is a car ... and even "dream cars" become moneypits and tiresome after a while. When you have it, you'll aspire to something else, and the slippery slope of temptation is hard to resist. Someone else will always have something better, faster, more expensive, higher spec level, tuned, modified, upgraded, etc etc, whatever ...

I've owned my dream car, and it's now sat on the drive doing nothing. It costs a bomb to fuel, insure, and I loath to put unnecessary miles on it as it's "my previous". I barely drive it, and am losing money hand over fist on it.

typeractive

UsernameAlreadyExists wrote: »

Rent your dream car for a week, or a month, or something. See how it pans out.

IMHO A car is a car is a car ... and even "dream cars" become moneypits and tiresome after a while. When you have it, you'll aspire to something else, and the slippery slope of temptation is hard to resist. Someone else will always have something better, faster, more expensive, higher spec level, tuned, modified, upgraded, etc etc, whatever ...

I've owned my dream car, and it's now sat on the drive doing nothing. It costs a bomb to fuel, insure, and I loath to put unnecessary miles on it as it's "my previous". I barely drive it, and am losing money hand over fist on it.

All very good points. Why not sell it if it's gotten to this point? Cut your losses? Sure you're losing money on it...though you knew that when you bought it. You can identify that now, and it sounds like you resent it (or perhaps yourself) for buying it. Don't get me wrong I really value the honest opinion and advice from someone who's been there. Just asking.

I could continue as I am with my little car which I've looked after for near 9 years, saving money as I go along. I'd probably want to spend the money on something eventually. I'd buy another house but I just don't have the heart (nor time) at the moment to go through the process of rennovating! I work incredibly hard and very long hours. No kids etc. I'm also very picky, otherwise I'd be able to settle for a much cheaper variant. Grrrr!

UsernameAlreadyExists

I am not selling it because they've stopped making them now and I naively hope it might start to appreciate in value eventually. It's a blobeye Scooby STI, completely standard, in absolutely mint condition and has an exceptionally low mileage. I know it's not much of a dream car to many, but given that it I played with them in Gran Turismo 1 on the PS1 ... it was an in game decent car that I could actually afford in real life years later. There was no way I could afford a proper Lambo/Ferrari/Porsche etc, and I wouldn't even want one. That's just silly money territory.

I have my daily work horse, and the missus' car in the household as well so my "toy" sits there and does nothing. It it just the "backup" really.

I understand your point of view though, and if you can afford to do it, then why the hell shouldn't you? All I am saying is that I did, absolutely loved it for a while, then frequented the appropriate forums and then realised that it was merely "the start" and I'd need to spend an absolute fortune on it to get it to a stage where I could brag about it. It was instantly inferior in those circles.

If I had access to the money again I'd probably have spent it on something else ... probably my house. Which is what I am actually doing now.

SandC

With you bringing up the point that it's not very MSE minded, that shows me that it is something that's at the back of your mind.

Don't you see all the money you've spent on your house as 'treating yourself'? I think I would once I've got around to doing mine up - being able to sit back and relax and revel in my hard work and money being put to good use - now time to enjoy it!

I probably wouldn't be comfortable with not telling the lender the truth about what the money is required for - but if you do then I'm not sure any lender would see £20k on a car as a good investment in their money at such a low rate - chances are you'd have to borrow it separatey at less then finance would cost but not as good a rate as your mortgage.

I would save all the £150 per month plus anything else I'd got spare towards a new car and continue to enjoy the audi you have which you are still very fond of - unless it is starting to cost you in terms of upkeep?

Having said all that, I'm not a car person so it's easy for me to say, I know it's important to a lot of people to have a nice car.

Let_Us_See

Go and buy your car. You have researched and looked at the costs involved and confirm affordability. Sure, it is an added financial commitment, but life goes on, and we all have to LIVE a little. Lenders will readily accept releasing equity to purchase a car. Sometimes, too many killjoys on this site.