pension lump sum ..new car or not !!

sevenhills

Alter_ego said:

People who have reached their pension age should have grown out of the "boy's toys" stage

I blame this forum, we come on here at age 55+ and we think we are almost there  

Mutton_Geoff

I've just ordered a brand new 4 wheel extravagance. But then it cost a smaller percentage of my disposable cash. I would not choose any LR product as their reliability stats are rubbish. There is still a way for a £30k LR to fall and it's important to remove the confirmation bias statements from your mind before buying, eg "I've always wanted one of those", "it's depreciated as much as it can", "this one is a rare bargain" etc. Very easy to talk yourself into something. Do you have 6 months cash on account? For me, that is the most important thing to tackle first.

I can bet that if you bought it, in two years you will be kicking yourself for spending so much of your PCLS in one go.

noh

Alter_ego said:

People who have reached their pension age should have grown out of the "boy's toys" stage

I doesn't work like that.
In retirement I find that I have more disposable income and savings that are more than adequate. Therefore I can buy more toys than I could when younger.
I can justify it to myself by man maths.
Purchases are effectively discounted by the 40% IHT saved by the estate of whichever of us is last to go.

Mutton_Geoff

noh said:

Alter_ego said:

People who have reached their pension age should have grown out of the "boy's toys" stage

I doesn't work like that.
In retirement I find that I have more disposable income and savings that are more than adequate. Therefore I can buy more toys than I could when younger.
I can justify it to myself by man maths.
Purchases are effectively discounted by the 40% IHT saved by the estate of whichever of us is last to go.

Absolutely agree. I just spent £60k on a new car, bought a share in a yacht and a share in a small aircraft. Welcome to retirement!

shinytop

noh said:

Alter_ego said:

People who have reached their pension age should have grown out of the "boy's toys" stage

I doesn't work like that.
In retirement I find that I have more disposable income and savings that are more than adequate. Therefore I can buy more toys than I could when younger.
I can justify it to myself by man maths.
Purchases are effectively discounted by the 40% IHT saved by the estate of whichever of us is last to go.

Agreed.  As well as having the money, I want toys just as much now as when younger.  I'll break the news to my son about his inheritance later 

daveyjp

Buy the Landie, look after it well for the time it takes you to work out why the hell you bought it and you probably won't lose a bean when you sell it.

Croeso69

shinytop said:
"I wish I'd bought that Land Rover". 

Said nobody ever.

AlanP_2

Alter_ego said:

People who have reached their pension age should have grown out of the "boy's toys" stage

Hopefully not 

cfw1994

Alter_ego said:

People who have reached their pension age should have grown out of the "boy's toys" stage

But it might be they want to move into their future with an EV - we replaced one of our motors 20 months ago with a Kona EV - an *amazing* experience over the 20k miles we've done so far, I can easily imagine upscaling to a replacement in a year or two, & those cars are pushing £40-50k or more now!
Is that a "boys toy"?   Maybe - some awesome tech in it - but even my 'less than techie' missus *loves* it!
Is it wise or worth it?   Maybe, maybe not....depends on your numbers

green_man

My understanding is that you are only allowed to buy Lamborghinis with Pension lump sums, so the LR is clearly a no no!!