Car Loan

Clive_Woody

heartbreak_star wrote: »

I'm waiting for the post asking for the best way to sell a depreciated luxury car that still has finance outstanding.

But then, I'm a cynic.

HBS x

I am watching the insurance board for a young person trying to find a sensible quote for covering a 911 fully comp.

Yes, I am jealous. I would love to play in one of those but sadly no room in the back for two kiddie seats and I already drive too fast in my Octavia vRS so given a silly amount of BHP I think I would be using public transport very soon when Mr Plod requests that I hand over my license.

BillJones

jhenan wrote: »

Porsche 911!

Are you getting the right price for it? No 911 is 60k new, so I presume that yu are looking at used, and therefore it's a bit hard to see whether any "discount" is real. I bought a brand new 911 GTS a while back at £30k off list price, so don't fall for the idea that they do not offer very heavy discounts.

Whichever way you fnance it, make sure that you find at least two suitable cars, and then play the dealers off against each other by saying that the better price wins your business.

Not that it will likely sway you by this stage, but I never really got on with mine, and sold it a year later. I never stopped being annoyed with the boot being in the front...

jhenan

Hi Guys,

Thanks for the comments! Come on guys, Porsche is for when your young surely, then an Aston Martin when your older!

A mortgage seems boring and something you will pay for the next 25 years. Yes, you are left with an asset but I feel I can do that later in life. My job involves moving around at present so not got somewhere I can look to settle yet. The way I live with my wage is in quarters:
- 1/4 spend on day-to-day
- 1/4 save
- 1/4 any big expenses along the way - courses, holiday, insurance...
- 1/4 to play with! i.e car

The Porsche is an ex-demonstrator. Got a good deal with insurance using multi-car so covered that avenue. I have driven a few of the performance cars, Audi R8, Aston Martin Vantage, Merc C63, BMW M3 but preferred this one, hope its the right choice?! Am looking to keep it for longer than 4 years.

How did you finance it Bill Jones? When you say get rid of it - did you sell it or return it to terminate the finance agreement?

Would people recommend a HP or PCP finance deal?

forgotmyname

Do it later in life after losing 20k - 30k on a car?

Buy the house now when its worth £30k more than you paid use that to buy the car. Free money and all that.

When your old and not poor, No mortgage etc, You can afford to buy the car you want.

But being a moneysaver no i wouldnt but the Aston. I would buy the jag because its basically the same car but for a lot less money.

downhillfast

A mate has just bought a 10ish year old (can't remember exactly as he has a private plate on it!) 911 and paid about £12k for it... He is the 5th owner of the vehicle which is very common with these vehicles! Doesn't that tell you something... people lose a lot of money buying them and then selling them on sooner than they maybe anticipated due to running costs, change of circumstances etc. if I was young and wanted a super car I would definitely be looking to take advantage of someone (like your's) losses in depreciation!!! If you can afford something like this outright then go for it but taking out finance for one is mental - after a year you will probably still owe more than it's realistically worth.

bsms1147

jhenan wrote: »

The way I live with my wage is in quarters:
- 1/4 spend on day-to-day
- 1/4 save
- 1/4 any big expenses along the way - courses, holiday, insurance...
- 1/4 to play with! i.e car

Rent?

What's your salary?

By all means, if you can afford it go for it. But this is a moneysaving site and you won't get many people around here agreeing that spending (and losing) tens of thousands of pounds over the course of just a few years is very wise.

I consider myself young at 25 but even I would rather spend £10-15k on a car and save £45-50k while owning it.

heartbreak_star

bsms1147 wrote: »

Rent?

Presuming living with parents. If you are, OP, you should be paying them board.

HBS x