Cars that will go UP in value for a reasonable price

kteara

Can someone reply to my post #22

JustinR1979

kteara wrote: »

Could anyone reply to my post #22

I thought I did in post 25.
Is hard to reply when there are no question marks, maybe you could throw one in from time to time to highlight where you are asking a question.
Or was it just a list of statements.
I don't know.
What do you think.

ratrace

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.

thanks i can echo your concern London is really getting ridiculous now with property prices and it seems like up is the only place there going

what i would suggest is that you buy a rental property outside London where the average price is around say £120k or so

i dont really know about the legality's on a mortgage but buying a house is a wise move indeed

JustinR1979

Thought London had finally stopped going up and up, and was going to flatline for a few years.
There's a forum on here for this topic.

kteara

So, buy the S3 soon? or continue to beleive in the falacy of owning a property to rent out whilst consecutively being able to afford a property worthy of raising a family in and buying an R8

JustinR1979

I would say somewhere to live/foot on the ladder is priority over a rental property or nice car.
Would work in that order.
Number 1 is most likely to help you achieve the others I believe.

GJ_WRX

I'd save for the house and run a banger, thats the only way you're going to 'make' money.

Very few cars will make you money, the few that go up in value will cost almost as much to maintain.

However if you really want a car for £2k-£4k then have a look at the following -
Fiat Coupe
Subaru Impreza (older shape)
Skoda Fabia VRS Diesel
Peugeot 106/306 Rallye
Toyota MR2 (older shape)
Most 80's hot hatchback are now making decent money so you need to assume that 90's coupe/hatches will do the same soon.

The other way to make money is to get an eye for used prices but watching autotrader/ebay and buy anything that looks good, run it a few month's re-MOT it then sell it on for a few hundred more then repeat. Lots of effort and risk but you could trade up to the Audi. Basically becoming a car trader.

robatwork

Here you go

http://www.autotrader.co.uk/used-cars/ford/capri/used-ford-capri-1-6-ls-3dr-broadstairs-fpa-201411259220631?logcode=p

Buy this, give it a nice paint job, keep it clean.

Keep it 10 years, double your money.

Come back then and thank me.

The_Loan_Stranger

kteara wrote: »

So, buy the S3 soon? or continue to beleive in the falacy of owning a property to rent out whilst consecutively being able to afford a property worthy of raising a family in and buying an R8

Here's another option for you, why don't you consider NOT buying the S3 just yet, purchase a small reliable economical car for everyday use and then once or twice a year as a treat to reward yourself for your continued saving hire an S3, or something else that may take your fancy by then, you never know, by then you may have completely changed your mind about an S3.
Then with your savings maybe consider purchasing a small holiday home in a cheaper location to rent out, (you'll be suprised what you can charge for a small decent holiday let) you'll have the increasing value of a house, somewhere to go on holiday, and you never know how things may change in years to come you may find yourself wanting to move away from London.

kteara

The_Loan_Stranger wrote: »

Here's another option for you, why don't you consider NOT buying the S3 just yet, purchase a small reliable economical car for everyday use and then once or twice a year as a treat to reward yourself for your continued saving hire an S3, or something else that may take your fancy by then, you never know, by then you may have completely changed your mind about an S3.
Then with your savings maybe consider purchasing a small holiday home in a cheaper location to rent out, (you'll be suprised what you can charge for a small decent holiday let) you'll have the increasing value of a house, somewhere to go on holiday, and you never know how things may change in years to come you may find yourself wanting to move away from London.

This is an idea i'm willing to take on board. I've looked at hire companies and theres one that offers an Audi R8 (595 a night, minimum 2 nights hire) so that is £1190 for 2 nights. and I do that twice a year = £2380.

Is that a better option than purchasing the Audi S3?

thanks!