How do I pay for my new car?

ch3101

bouncydog1 wrote: »

Range Rover Evoque?

I've thought RR Sport, would be pretty low spec though

Robisere

When I was younger (68 now) I had a string of what were at that time, fine motors, including a Porsche Speedster, Capri RS 3.1, Opel Commodore and Opel Monza (both in Germany) I even owned an Aston Martin for a short period, got it for a gambling debt from an officer (very long, very naughty story, please do not ask!) In the end I could not ignore the blandishments of a German businessman who offered me twice the amount of the original debt - which is when I bought the Capri RS. I actually had a total of 7 Capri's, also 3 Granada's, 2 were 3 liter Ghia's and the last was a 2.8 Ghia. I have also built my own "Specials" during a career as a workshop foreman, including Custom cars. And i have owned several 'classics' including an E-type 4.2 convertible, a Datsun 240Z and 3 Triumphs.

My point? I enjoyed them. I used my own money to buy them. I drove most of them with utter pleasure and, while I was aware that most were going to depreciate faster than Peter Andre's biographies, I didn't give a damn. When I got older and the kids came along, it was time to consider the future and do what I needed to do, to give my family the best I could provide. But my memories of every single car are still with me, no one can take them away unless I go Deolali in my declining years.

So I was a Petrol-head - so sue me.

silverwhistle

Heh, heh. As someone who didn't drive until I was 28 and retired (at least partly) at 50 I'm the last one to ask. On a purely practical basis I'd use my depreciating savings and then build them up again. If I were the partner with different interests I might have an equally different opinion: I'd really want to put it towards that Hallberg-Rassey!

BobQ

I think the answer is the OP has a very rich spouse. Whjy else would he be so silly as to buy such an expensive toy.

stumblingtrout

All - thanks for all the replies. Some really nice comments - thank-you. I thought i'd made a mistake coming on here to ask the question initially.

To those that thought BMW X3 - spot on.

It's a BMW X3 35d M-Sport in Alpine White, with Red Brown Leather interior. All the options ticked except TV, Towbar and CD changer.

I am trading in a 2011 530d Touring. Nice car, but I don't get on with it. I want a higher view point and all wheel drive. The OH has a Disco 3 and I find myself wanting to drive that more...

It was between that and the Audi SQ5.

The X3 gets delivered to my door on Friday morning. :cool:

To clarify, those that suggest paying the mortgage off - there isn't one. We own the house outright as the OH inherited some money and paid for it. I won some money at the same time, hence why we don't fit the norm in that we are mid 20's and mortgage free.

I'll read all the replies in detail in the morning, but for now i'm off to work - night shifts this week. Thanks again.

cod3

£49k car and a 25 year old driver. G'wan, what's the insurance like?

(Promise I won't scream)

The_Boss

BobQ wrote: »

I think the answer is the OP has a very rich spouse. Whjy else would he be so silly as to buy such an expensive toy.

Because they can.

The_Boss

pauletruth wrote: »

you earn less than 35k you have a new mortgage and 40 k in savings. do yourself a favour don't buy it.

pay 20k into the mortgage. just in case you have not noticed were in a recession. blowing that kind of money is just plain dumb.

They don't have a mortgage and we still ARE in a recession (there's no were about it). Why is it dumb to spend on something that you want and is clearly within your financial reach?

stumblingtrout

cod3 wrote: »

£49k car and a 25 year old driver. G'wan, what's the insurance like?

(Promise I won't scream)

Not as bad as you would think - £630 fully comp with 2 named drivers (one of whom has 2 fault claims in the past 3 years.) I have 8 years no claims and am an advanced driver so that may help keep it down!

silverwhistle

The_Boss wrote: »

Why is it dumb to spend on something that you want and is clearly within your financial reach?

Not at all, but although we all want to keep our costs down, it's hardly surprising some of the additional responses on a money saving board. Firstly the OP didn't give all the relevant details, and people here are used to those in financial difficulty who want the same cars!

Some of us who are older and/or not interested in cars have intimated that there are other things on which to spend your money. My season pass for the local ski area is my own indulgence, and this summer I was thinking of getting my coastal skipper ticket. I'd rather like an open-holed Yamaha flute too, but a car is somebody else's choice - expensive though it seems to me. I'd always thought posh cars were to attract the person you fancied and after that you saved your money for the house.. :-)

Since then I've just seen the OP's post on what he pays in insurance. As I pay a similar amount for third party and windscreen cover for a 12 year old banger in Italy (with 7 yrs NCB here, 5+ in the UK) I now hate him!:-)