Pension or House Deposit?

michaels

New car is nice and shiny and all - but if the alternative option is for both of you to retire 5 years earlier I know which I would choose.....

GunJack

michaels wrote: »

New car is nice and shiny and all - but if the alternative option is for both of you to retire 5 years earlier I know which I would choose.....

beat me to it.... OP, get to the Bangernomics thread on the Motoring board...cars actually cost peanuts

k6chris

Edmond wrote: »

The catch is that we'd be giving up the bigger house and the new car that we wanted - I'll have to work on convincing my wife to make do for another 6 years!

Welcome to the real world.....

crv1963

It is all about choices! I did bangernomics for years, cheap car full service, mot and insurance= £1k= £20pw plus petrol! Scrap or repeat depending on next MOT!


House start smaller- build up!


You have to do what you can afford and not overstretch!

atush

I buy cars that are 1-2 years old with warrenties.

Newish, but dont depreciate as badly.

Anonymous101

You can't come onto a pensions saving board saying you're "to the bone" and can't afford to save into a pension and then talk about buying new cars.

You need to get your priorities straight. Cars that are 2,3 or 5 years old are perfectly adequate. If you choose to spend your money on a new car rather than looking after yourself in retirement then more fool you.

Triumph13

Anonymous101 wrote: »

You can't come onto a pensions saving board saying you're "to the bone" and can't afford to save into a pension and then talk about buying new cars.

Oh yes you can. But if you do you can expect copious abuse :rotfl:

You need to get your priorities straight. Cars that are 2,3 or 5 years old are perfectly adequate. If you choose to spend your money on a new car rather than looking after yourself if retirement then more fool you.

They sound a bit new to me - I just replaced by 17 year old Volvo with an 11 year old one. Retiring at 52 is worth a lot more to me than shiny new(ish) cars.

swindiff

atush wrote: »

I buy cars that are 1-2 years old with warrenties.

Newish, but dont depreciate as badly.

Just bought a 1 year old Citroen C1 furio for the wife, who is about to go back into the NHS funnily enough. 4000 miles on it, looks like a brand new car. £6300. It therefore cost the 1st owner about £5k for 1 years ownership and 4000 miles motoring :shocked:

Anonymous101

Triumph13 wrote: »

Oh yes you can. But if you do you can expect copious abuse :rotfl:


They sound a bit new to me - I just replaced by 17 year old Volvo with an 11 year old one. Retiring at 52 is worth a lot more to me than shiny new(ish) cars.

Agree. 11 years old is much better. I have to have a car that's less than 6 in order to comply with my employers car allowance policy. If I didn't I'd be driving around in a 10 year old + car too and would prob be retiring even earlier. You can't put a price on your financial freedom.

atush

Triumph13 wrote: »

Oh yes you can. But if you do you can expect copious abuse :rotfl:


They sound a bit new to me - I just replaced by 17 year old Volvo with an 11 year old one. Retiring at 52 is worth a lot more to me than shiny new(ish) cars.

My husband replaced his 17 yr old car with a 3 yr oldvone. Not as frugal as you, but not frivolous either