Looking at buying a Nissan GTR

Mobeer

It's a great car.

But that's also a lot of money to spend each month on a car when your mortgage is interest only. Presumably this is also a PCP deal with a final payment after 4 years as well?

Have you thought about something less extreme, like a Nissan 370Z - about £350 a month cheaper PCP with your deposit, and that cash saving might help make a dent in your mortgage?

photome

GSS35 wrote: »

Hi All,


Never owned a car as I wanted to save up for my dream car (this one), lived a very conservative and low-impact lifestyle.


s

GSS35 wrote: »

Ok I should have been clear, this is not my first car. I've been driving for 9 years, but no performance cars owned. I've been a policy holder so have 8 full ncb. The implication is that I can easily get insured on a standard car but not a heavily modified one (at least have a standard one for a year to prove to insurers I'm responsible, then mod away if I wish to).

.

just how darkmatters posts change after input from others

BeenThroughItAll

If that ain't DM, I'll eat my hat.


So then OP, if you've got it all worked out, why ask for opinions? Unless of course you're just trolling... Surely that can't be the reason?

mcpitman

GSS35 wrote: »

While I've managed my money well, I will be honest and say I'm probably in a slightly sub-par position to get a car of this nature purely due to the IO mortgage. I would have prefered a 60k+ income (Easy to get with the field I'm in, but job security is the harder bit) but I'll just compromise on other luxuries but not my general upkeep (clothing, food, etc).

Lastly, maintenance... yes this is not a cheap car to run. A GT-R can get about 20mpg + on a good day. It's very subjective as it depends on tires, driving style, and many other things. As for parts, Nissan dealers will rip you off on anything. Some OEM parts are a rip off, if a front bumper cost 10k I'd get an aftermarket one for 1-2k, which would even be carbon fibre. Even a CF roof and boot could be sourced for 2-3k. Tires at best can be be had for £700 (and the right type of tires and Nitrogen filled), brakes are 2k every 2 years (with pads about £600, but I found much cheaper pads). I plan to get an aftermarket warranty to cover everything but electrics/lights and save a reserve fund to fix those items if they go wrong. Most of the engine/gearbox issues are protected under an aftermarket warranty.

Don't take finance of £60k out if job security is a concern, also if £60k was "easy to get" i'm sure you would have done by now.

Cheap parts and brake pads... good luck with cheap brake pads in a GTR.

20mpg+, :rotfl:

You will also heavily reduce any residual value with cheap bumpers.

Strider590

GSS35 wrote: »

I would not drive it on a PUBLIC road @ 3 figure speeds and where there are pot holes/too many hazards.

Ok, so lets assume your a great driver and you take it onto a track.

Your now at the mercy of a bunch of idiots in equally fast cars, who very often don't know what they're doing.

There's an old saying "those who can afford them, usually can't drive them".
Believe me, this very often the case, the number of Porsches, Astons and Ferrari i've seen written off on track days, purely through stupidity, is astonishing........ The Nurburgring is especially good at collecting expensive metal.

Can you afford to write off a £60k car? How secure would your job be if you wrote off your only form of transport?

Sure you'd have to get track day insurance, but that won't pay the full value of the car, you'd be left paying off a debt for a car you no longer own.

Herzlos

GSS35 wrote: »

LOL @ if you have to finance it, you can't afford it. Like we don't finance our homes. Yes a home is an appreciating asset, but it still gets financed + interest. Businesses finance assets, airlines finance planes, but in the case of one person financing one car, that's not so bad. If I financed modifications, then that is dangerous (financially).

It's essentially impossible to buy a house in cash as they normally cost multiples of salary and don't depreciate. Borrowing for a house makes sense as it'll appreciate and at the end it's still a house, even if it's been neglected. It also saves you having to pay rent for the mortgage term.

With a car it'll depreciate (usually faster than you pay it off), and at the end it's potentially worthless even if you don't wreck it or replace parts with cheap 3rd party equivalents. There's plenty of cars you can buy for cash or borrow small amounts from, but I reckon buying a car thats worth your entire salary after tax is pushing it.

But hey, if you want to get one, go for it. Just don't moan too much when you have to sell it in 6 months and deal with the massive shortfall. You are only young once.

jaydeeuk1

Well, its a step up from a lexus IS

almillar

To the person who said that I would wrap it round a tree, yes thanks for your kind words. What do you know about my driving ability? Exactly

Pretty much the entire forum thought this was your first car from your description, which you admit wasn't clear, so it was a fair comment.
I think it's still a fair comment if the GTR is you first performance car. Don't take it personally!

And what's your insurance quote? And for that matter, your finance quote?

Also, anyone know where I can get a quick £40K plus running costs for one of these?!

Ozzuk

You likely won't be able to get unsecured finance at that level so it will have to be a finance hire type agreement. This could have limitations on what you can do to the car re repairs.

Like others have said, you seem to have all the answers (and it did read like this was your first car) so why not just go for it? Its totally your choice - cars sometimes aren't sensible and that is the whole point, my Mustang will be daily drive but I'll also need to keep my volvo for dogs/diy. People tell me I'm crazy for that but you only live once. But I do also plan for my future - pension contributions are high, I pay AVCs, ISAs etc and I own a good chunk of my house so you should consider that. Balanced risk.

I'd still go with a lambo though, less depreciation (if it doesn't catch fire) and a lot more 'special' IMO. But hey, if you love the GTR..go for it!

Don't downplay what can go wrong though - warranties can be hard to uphold, if you use the launch option for instance it invalidates many warranties. I have friends with GTRs that have spent 20, 30k sometimes more on them (modifying but also just fixing). Be prepared for something nasty to happen and you're left with 20k worth of car but owing far more...

Indout96

What Mustang are you driving Ozzuk ?
I did the muscle car challenge in Vegas in the 700 BHP version, it was a bit of a beast off the line but great fun, launch control used and still partially sideways half way down the track got a 3.9 sec.


I ran a Camaro for several years over here and loved every mile of it. but we did have a second family car.