The car ladder?

Scrapit

adamjpl said:

Scrapit said:

Whats the problem if you can afford it? 

I was simply asking what's the best way for me to continuing doing this until I stop doing it.

Hence my question, what is the problem? You can currently afford it, why would you not continue to afford it?

adamjpl

The_Rainmaker said:

Just to throw in a couple of random thoughts.

When you are 26 your life can change very fast ie married when that wasn't even on the horizon, kids, bigger house etc

Also we are in a very dangerous time and I would advise a little caution and with a bit of patience you might pick up a real bargain.

What about a change of direction scale back on the road car and get a wee race car and really enjoy yourself at weekends?

Whatever you do research, research and research and run a decent spreadsheet with all the options and then you will know a good deal when you see it.  Also broaden your shortlist to include some off the wall selections.

I've thought about this and also thought about even spending money on doing track/experiences and getting my thrills that way. I don't know if i'm being honest I enjoy the feeling of going into my garage taking the M2 out and going wherever I feel like I like that freedom. I like the idea of possibly even doing a rental for a month or two months? I've not even researched the prices on that but I imagine it's steep considering it's like £100/day for a !!!!!! tip from enterprise. Although would it cost me £15k? Most likely not so food for thought definitely.

adamjpl

Scrapit said:

adamjpl said:

Scrapit said:

Whats the problem if you can afford it? 

I was simply asking what's the best way for me to continuing doing this until I stop doing it.

Hence my question, what is the problem? You can currently afford it, why would you not continue to afford it?

I can afford it correct but I'm asking if the way I'm currently doing it is the best way to do it and am I doing it the cheapest way possible? After all this is the moneysavingexpert forum. Just because I can afford to pay in essence £650 every month if I can do it for less than that why wouldn't I? 

[Deleted User]

You should get yourself a nice Ford Mondeo and save a few quid. Believe you me, you’ll be glad you did in 20 years time. 

adamjpl

Deleted_User said:

You should get yourself a nice Ford Mondeo and save a few quid. Believe you me, you’ll be glad you did in 20 years time. 

Maybe but in 20 years time it'll be electric cars and I'll always be yearning for the noise of a straight 6 howling down an A road and it'll be too late as SNP Scotland bans all petrol cars for eternity.  

[Deleted User]

fred246 said:

I have never heard of an M2 Competition. How can I want something that I have never heard of?

Not my type of thing either really. Much prefer my boring Focus but atleast it costs me less to run a year than one monthly payment on a M2C. And I own it outright.

Scrapit

adamjpl said:

Scrapit said:

adamjpl said:

Scrapit said:

Whats the problem if you can afford it? 

I was simply asking what's the best way for me to continuing doing this until I stop doing it.

Hence my question, what is the problem? You can currently afford it, why would you not continue to afford it?

I can afford it correct but I'm asking if the way I'm currently doing it is the best way to do it and am I doing it the cheapest way possible? After all this is the moneysavingexpert forum. Just because I can afford to pay in essence £650 every month if I can do it for less than that why wouldn't I? 

Can you get it cheaper? I assume you carried out a degree of due diligence when you initially got the car? And chances are you didn't pay more than you should. And you've got a baby beemer you're happy with. As long as you can afford it it is sustainable going forward. Common sense should imply that you will continue to earn more through pay rises or maybe climbing the corporate ladder etc so you should continue to afford this and at some point in the future you'll be able to get something better if you so choose and if you still desire. A non event unless you are concerned about something that you haven't previously mentioned.

adamjpl

Scrapit said:

adamjpl said:

Scrapit said:

adamjpl said:

Scrapit said:

Whats the problem if you can afford it? 

I was simply asking what's the best way for me to continuing doing this until I stop doing it.

Hence my question, what is the problem? You can currently afford it, why would you not continue to afford it?

I can afford it correct but I'm asking if the way I'm currently doing it is the best way to do it and am I doing it the cheapest way possible? After all this is the moneysavingexpert forum. Just because I can afford to pay in essence £650 every month if I can do it for less than that why wouldn't I? 

Can you get it cheaper? I assume you carried out a degree of due diligence when you initially got the car? And chances are you didn't pay more than you should. And you've got a baby beemer you're happy with. As long as you can afford it it is sustainable going forward. Common sense should imply that you will continue to earn more through pay rises or maybe climbing the corporate ladder etc so you should continue to afford this and at some point in the future you'll be able to get something better if you so choose and if you still desire. A non event unless you are concerned about something that you haven't previously mentioned.

Well I wasn't sure if I could that's why I posed the question. When I shopped for deals I always looked at the retail price on autotrader and then looked at the PCP deals associated with it to see if the lease was a good deal or not. Leasing I've felt is always the "easy option" for sure for someone like me. I've never thought about financing the car/saving up to buy cash as I always felt that depreciation would far outweigh it but I got some good advice about looking for specific types of cars that hold their value well especially in the used market. I've never considered anything but lease until now and I got other good bits of advice such as short term leases where I get to "experience" amazing cars at a discount compared to my current expenditure. You're right a non event perhaps as my earnings will always go up but I got some good info here which was the purpose of it. 

Grumpy_chap

I am not sure there is such a thing as a "Car Ladder" as implied by the title of this thread.

There is a "housing ladder" because getting a deposit and a small place allows you to build equity that supports the next move into a slightly larger place.  In turn, the equity builds in the slightly larger place at a slightly faster rate and you can then step again into a detached home and so on until you reach the luxury sprawling country pad with swimming pool and tennis courts.

The same equity building process does not really apply with cars as each car is going to be a depreciating asset.  (Classic and particularly rare cars excepted.)  However, for each better car, the monthly cost is going to increase.

So, if you currently have a 2 series diesel and aspire to M2, then the steps can only be supported by knuckling down and having increase in income level to support the increased costs for the more aspirational car.  Get that sorted and the choice of finance is really down to working out for each car which finance route gives you the lowest overall cost.


If you can pull this off in a seemingly low effort manner like MarzBar, then good on you.  I think MarzBar puts more effort and thought in than is initially apparent.

adamjpl

Grumpy_chap said:

I am not sure there is such a thing as a "Car Ladder" as implied by the title of this thread.

There is a "housing ladder" because getting a deposit and a small place allows you to build equity that supports the next move into a slightly larger place.  In turn, the equity builds in the slightly larger place at a slightly faster rate and you can then step again into a detached home and so on until you reach the luxury sprawling country pad with swimming pool and tennis courts.

The same equity building process does not really apply with cars as each car is going to be a depreciating asset.  (Classic and particularly rare cars excepted.)  However, for each better car, the monthly cost is going to increase.

So, if you currently have a 2 series diesel and aspire to M2, then the steps can only be supported by knuckling down and having increase in income level to support the increased costs for the more aspirational car.  Get that sorted and the choice of finance is really down to working out for each car which finance route gives you the lowest overall cost.


If you can pull this off in a seemingly low effort manner like MarzBar, then good on you.  I think MarzBar puts more effort and thought in than is initially apparent.

The title of the thread is tongue in cheek hence the question mark. I don't think you've actually read my post I already have an M2C? And I don't know why everyone is obsessed with this MarzBar guy I've never heard of him, did he coin the phrase "the car ladder" is that why we are all getting annoyed at the title of the thread?