Cars that will go UP in value for a reasonable price

kteara

ratrace wrote: »

Audi r8 yep another nice motor you will get that hopefully as your getting older they are coming down in price

You have a dilemma you cant have both, its either you buy the s3 or you put down the 15k on a house and rent it out, so the rent pays the mortgage

personally i am of the opinion that when you are young this is the time you need to invest for your future

there is a way but it involves you being disciplined it quite simple really

save 20k in the next 2 years buy the audi which will have come down in price for about £8000 and then the reaming 12k put down on a house deposit and rent it out to cover the mortgage

that way you have both the audi you always wanted and a house for the future but to do this you need to suppress the temptation of having nice things

Thanks for this post. This was exactly the topic I was just about to discuss. My savings are infact for a house. However, with the current information I have on house prices etc. I am completely de-motivated and confused. It seems as if I will never be able to afford a decent house and I have to sacrifice so much and go through hell just to barely afford a crappy house which costs a fortune, due to the current market.

Mortgaging a house and renting out, is a perfect plan because it provides income which can allow me to purchase an even better car (R8). The problem however, is I'm led to believe this isn't possible. At 24 years old I will probably have around 20k savings. This is barely enough for a deposit on a crappy 1 bed apartment (I live in South London). I'm also led to believe that my first property purchase is unable to be rented out due to restrictions from mortgage lenders.

Richtea78

That is very good advice

I did the opposite and spent the money I had, and more on having nice things but no savings. It's hard to say I regret it as to be honest it was a lot of fun, but things are harder now than they would have been if I'd been more sensible.

Richtea78

JustinR1979 wrote: »

Was yours expensive to run? Maybe you bought a lemon.

nah, mine wasn't expensive to run as well. Nothing went wrong on it but I did get it serviced at Munich Legends so it wasn't cheap to run either. It was a fantastic car and I wish I hadn't sold it but I did

The point I was trying to make is that you can be lucky with the costs but you can also be very unlucky. A cheap M5 can turn out to be very expensive very quickly.

If something goes wrong on one of the BMW M cars it's going to be expensive.

JustinR1979

kteara wrote: »

Thanks for this post. This was exactly the topic I was just about to discuss. My savings are infact for a house. However, with the current information I have on house prices etc. I am completely de-motivated and confused. It seems as if I will never be able to afford a decent house and I have to sacrifice so much and go through hell just to barely afford a crappy house which costs a fortune, due to the current market.

Mortgaging a house and renting out, is a perfect plan because it provides income which can allow me to purchase an even better car (R8). The problem however, is I'm led to believe this isn't possible. At 24 years old I will probably have around 20k savings. This is barely enough for a deposit on a crappy 1 bed apartment (I live in South London). I'm also led to believe that my first property purchase is unable to be rented out due to restrictions from mortgage lenders.

Get on the property ladder, think in a few years you'll regret it if you don't!
I put down 25% (£58.5k) so had better lending rates, and now 4 years later have £100k equity.
I went from the M5 to an A4tdi with 180k and a dodgy turbo, still got me to work and back.
I should be mortgage free at 52, you could be mortgage free earlier than that if you get going now and things work out.

Richtea78

I ended up with a Civic via a Z4MC! It costs peanuts to run and it's still quite fun to drive but the total opposite of the M5.

JustinR1979

Richtea78 wrote: »

nah, mine wasn't expensive to run as well. Nothing went wrong on it but I did get it serviced at Munich Legends so it wasn't cheap to run either. It was a fantastic car and I wish I hadn't sold it but I did

The point I was trying to make is that you can be lucky with the costs but you can also be very unlucky. A cheap M5 can turn out to be very expensive very quickly.

If something goes wrong on one of the BMW M cars it's going to be expensive.

Ah right, thought you owned one as you spoke with such an air of authority on the matter as if it was your own experience. Sorry.
Mine wasn't cheap, was owned by an enthusiast and mechanic so I followed all their posts online, knew what parts had been changed, any issues they had had, and was sold due to unexpected change of job.
Finding a good indy is useful when running an M car granted.

JustinR1979

Richtea78 wrote: »

I ended up with a Civic via a Z4MC! It costs peanuts to run and it's still quite fun to drive but the total opposite of the M5.

A4 was fun as it would go into limp mode at 68mph.
So went from a 400bhp car to a 110/10bhp car lol.

Richtea78

No, a friend made the mistake of buying a cheap E34 M5. That ended up costing the best part of £4k 2 months later to have the EDC put right!

ratrace

Richtea78 wrote: »

That is very good advice

I did the opposite and spent the money I had, and more on having nice things but no savings. It's hard to say I regret it as to be honest it was a lot of fun, but things are harder now than they would have been if I'd been more sensible.

Thanks

we are all human and have desires/temptations

Its really difficult to make the right choice when your young and the temptation of having nice things is quite difficult to control, but when you young you have health and fitness on your side which slowly decreases as you get older, that's why its important to invest when your young and watch you investments grow, but even having no mortgage on your property is a great achievement in it self

JustinR1979

Richtea78 wrote: »

No, a friend made the mistake of buying a cheap E34 M5. That ended up costing the best part of £4k 2 months later to have the EDC put right!

If he kept it long enough may still have made money on it!
Fetching good money now.

Think of last time you saw an E34 M5? Years and years.
E39 M5? Very very rarely.
Sierra/Escort Cossie? Years.
E30 M3, a decade or more.
All of these are going up in value.
S3? Every day.