I feel like i am doing the wrong thing!?

kidmugsy

dazanteney4 wrote: »

... a nice car. I don't really want to drive around a 15 year old 206 for the next 6 years lol

Beware of buying something you don't need with money you don't have to impress people you don't like.

gadgetmind

kidmugsy wrote: »

Beware of buying something you don't need with money you don't have to impress people you don't like.

True, but cars that are well beyond their shelf life, which comes early for those at the cheap end of the spectrum, can rapidly become a right royal pain in the backside.

atush

Both the above are true in their own way.

I like buying cars that are almost but not brand new, and I like not paying interest. but right now my car is 11 yrs old and the OH is 15. But I swear we will replace this year.

WE put it off as the twins are in Uni, but one has now announced grad school and the maintenance bills will only grow so gotta replace at least one this year. Been saying that for a few years now but I am pinky swearing lol.

Lets hope I hold true before the Double pinky swear next Feb lol.

kidmugsy

gadgetmind wrote: »

True, but cars that are well beyond their shelf life, which comes early for those at the cheap end of the spectrum, can rapidly become a right royal pain in the backside.

Our own policy was once formulated as buying a rather expensive car at a couple of years old, and keeping it for fifteen years or so. We've had our current one for longer than that. We're not rich enough to be able to afford cheap cars.

atush

Yes, our 15 yr old is an audi.

You can only hold quality cars that long. Mine is a Hyundao, but a decent goer.

But downgrading on retirement from Audi can be difficult lol

dazanteney4

lisyloo wrote: »

I think you missed my point.
What happens if you can never work again?
How will you pay back the pension money you borrowed then?

I don't know what job you do but my husband recently had 9 months unemployment. He's a successful and highly paid person with skills.
I'm glad you've got 4 months worth, but there are things that can happen - split, divorce, unexpected pregnancy that can derail your plans.

But if i never work again my pension pot will be so small atm it wont be worth anything?

Our pensions payments are 3% from employer and £25pw each so its a little more than 9% total.

I understand what your all saying and its something i need to consider, one thing i cannot find is what was the growth of a standard pot last year? It seems to be a question no one can answer.
Some quotes online say its 60% growth over the past 2 years but i don't believe that....

dazanteney4

kidmugsy wrote: »

Our own policy was once formulated as buying a rather expensive car at a couple of years old, and keeping it for fifteen years or so. We've had our current one for longer than that. We're not rich enough to be able to afford cheap cars.

My future wife wants to do that exact approach! Her thought process is that we would know exactly how the car has been driven and what work has been done over the years.

gadgetmind

atush wrote: »

Yes, our 15 yr old is an audi.

My last two cars have been Audi A8s. At around 3 years old, someone else has knocked 2/3rds of the value off them over around 40k miles, which is nothing for these things. They are also cheaper than the equivalent age/mileage A6 despite them having 4WD, air suspension, and every gadget you can imagine.

I then ran my previous one until about 15 years old, at which point I started getting fed up of replacing hoses, particularly oil breathers, as many are on the back of the block. Garages will only quote for doing it with the engine out, so I ended up having to make my own tools for removing and refitting hoses in right places.

As I said, pain in the backside, and it happens to them all in the end.

But downgrading on retirement from Audi can be difficult lol

My retirement plans have about £2.5k pa depreciation on main car, which lets me keep on driving A8s for less than some folks would blow on new Mondeos.

dazanteney4

gadgetmind wrote: »

My last two cars have been Audi A8s. At around 3 years old, someone else has knocked 2/3rds of the value off them over around 40k miles, which is nothing for these things. They are also cheaper than the equivalent age/mileage A6 despite them having 4WD, air suspension, and every gadget you can imagine.

The only issue with Audi's is spare parts cost a bomb.

gadgetmind

I use a combination of parts from breakers (the A8's aluminium is expensive to fix, so your write offs are quite common), refurbished parts often from German vendors on ebay, and new parts bought by a local independent who specialises in German cars. I also have my own diagnostic lead and software, so I can do a lot of my own diagnosis.