How do I pay for my new car?

Clive_Woody

Should have gone for a Skoda Yeti 4x4 and a luxury round the world cruise with the left overs

I hope you have a nice garage to store your new toy in?

Working from home and doing minimal miles each year (<5000 miles) I can't really justify buying an expensive toy but I love taking my Octavia vRS out for a run when I have the opportunity and many of my mates have a similar love of cars (only with more opportunity to play in them). I can understand where you are coming from.

Enjoy your new motor.

stumblingtrout

Clive_Woody wrote: »

Should have gone for a Skoda Yeti 4x4 and a luxury round the world cruise with the left overs

I hope you have a nice garage to store your new toy in?

Working from home and doing minimal miles each year (<5000 miles) I can't really justify buying an expensive toy but I love taking my Octavia vRS out for a run when I have the opportunity and many of my mates have a similar love of cars (only with more opportunity to play in them). I can understand where you are coming from.

Enjoy your new motor.

Funny you should say that, one of our work cars is a Yeti 4x4 with the 170bhp engine from the Octavia VRS. It's a great bit of kit and a very competent vehicle in many aspects. We all fight for the keys...

Shame it's butt ugly

racing_blue

Hesitating to post because it might seem like passing judgement- not my intention at all. We all have motoring decisions to make & savings can burn a big hole in anyone's pocket.

I guess what I don't see is the lifetime perspective here. Earning £31k means netting £23k. To replace the £49k spent on a car would take 2 years, 1 month, 2 weeks and 4 days of work. Every hour you work until mid July 2015.

(No judgement- if driving this particular car is a major life goal, that may be a price worth paying.)

Granted, the car will retain value for many years so you are not losing £49k straight away. How much will it depreciate in 1 year? 10k? That's 5 months and nine days of your labour... still takes us into November.

For most people their choice of car is some way down the list of lifetime priorities. Above that are things like where they live, how long and hard they work, how they raise their kids, what they do in their leisure time. Tomorrows choices will inevitably be expanded or restricted by choices made today, and this is the rub.

A great book is "The Millionaire Next Door" which frames expenditure choices in a lifetime context

Clive_Woody

stumblingtrout wrote: »

Funny you should say that, one of our work cars is a Yeti 4x4 with the 170bhp engine from the Octavia VRS. It's a great bit of kit and a very competent vehicle in many aspects. We all fight for the keys...

Shame it's butt ugly

Can't say that I think of any 4x4s as nice looking cars, all variations on a boxy theme. Each to his own though.

I've not tried the 170bhp oil burner as I only do low mileage so I went for the 200bhp petrol which is that little bit faster and cheaper at the pumps and servicing. A Skoda is never going to be anybody's dream car but I like mine a lot, it has lots of toys and gadget, massive boot (perfect for a family car), decent turn of pace, cheap to insure and good reliability.

For the cost of your new motor I got my car plus it would pay for my new extension and the villa we have rented in Portugal in July...

gb12345

pramodnegi wrote: »

If you want purchase new car then you have pay some cash and
cheques

Thanks for that insightful post.

Keep upping that post count and you'll soon be able to spam those links.

stumblingtrout

Clive_Woody wrote: »

Can't say that I think of any 4x4s as nice looking cars, all variations on a boxy theme. Each to his own though.

I've not tried the 170bhp oil burner as I only do low mileage so I went for the 200bhp petrol which is that little bit faster and cheaper at the pumps and servicing. A Skoda is never going to be anybody's dream car but I like mine a lot, it has lots of toys and gadget, massive boot (perfect for a family car), decent turn of pace, cheap to insure and good reliability.

For the cost of your new motor I got my car plus it would pay for my new extension and the villa we have rented in Portugal in July...

I like the 4x4 look - but then again our other car is a Disco 3 (you can't get much more boxy than that) and I've always liked Volvo's...!

My dad has an Octavia VRS (albeit the CR Diesel one) and he absolutely loves it. We have some Octavia's at work and although they are only the 1.6 diesels, they are quite chuckable and well liked. I'll always take a Skoda over a Ford or Hyundai, they are very very good. I got sent a link to the latest JD power survey (http://www.autocar.co.uk/car-news/new-cars/2013-jd-power-customer-satisfaction-survey-full-car-model-results) and Skoda place 1st and 2nd for the Superb and Yeti respectively.

But now i'm going off topic ;-)

Mattygroves2

Enjoy the car but don't be surprised if the depreciation is fierce.

My OH is on his fourth expensive 4x4 (2 mercs, a Q5 and now a Disco 4) and we have always been surprised at how much value they lose in two years even when bought second hand (generally ex demonstrator or similar) although he does do 20,000 miles a year.

The worst was the AMG ML55 he had which was incredibly quick (as quick as the TVR it replaced) but it lost £40,000 in three years even though it was in great nick when we part exchanged it. Whoever bought that car got a great car for £15k.

Bangton

I think people should work hard to play hard and buy all the things they want but cars I've just never understood!

People who drive BMs and Audis generally think they rule the road too...well in my experience anyway! I don't want to tarnish everyone! Give me my Vauxhall Corsa and a holiday anyday but.....

Enjoy!!!

MissE001

Hope you enjoy your car...and I think you were quite right to come on here. Martin's money saving mantra if you're "not skint" is.....

"Will I use it, is it worth it, have I checked to see if it's cheaper elsewhere?" :money:

Sounds like you answer Yes to all of them - have fun

miketaff1408

Enjoy your new car. If you can afford it, and you want it, then have it.

Although I personally wouldn't buy brand new again. We paid 45k for a fully loaded E-Class 320 diesel in 2005. We went mad and put every conceivable extra on it - luxury sound system, sat nav, leather, seats that pump up to support you when you go round corners, massage seats, air conditioned seats, cd changer, linguatronic voice control and probably more that I cant remember. Most, (especially the seat related ones) were hardly used (particularly the air conditioned seats - were rubbish!!!) roll on four years - wife hit from behind on a motorway slip road whilst stationary by a tipper truck. Car wrecked and payout took none of the extras into account.

We have just bought an X6 350d for 36k. Used, 2 years old, and owned by the MD of the car dealership. Plenty of extras such as special designer leather, Msport wheels, built in hard drive for music, TV in back with wireless BMW headphones. Yes, there's plenty more depreciation to come, but the stings been taken out of it a little!


But don't listen to people criticising you for spending 50k. Life's to short - if you want to spend it, spend it.

I have a penchant for Breitling Watches. Mrs MikeTaff (frequently) points out "THEY ONLY TELL THE BLOODY TIME!!!". Do I need to spend 7k on a watch - no. Do I want to? - YES!!!! So I do.