The road to victory

capuchin

alt80 said:

Not sure how many people on here are running electric cars but I have one (EQC) and having had it a few months now it's a great car and I actually like the electric element despite not liking the idea of it when first suggested to me (on here haha). Tbh can't sing it's praises enough. 

Yep, I wasn't sold until I tried out my sisters (Taycan Estate) - That instant torque is quite the rush! And from an MSE perspective, the near zero fuel costs are rather attractive. I live literally around the corner from a Tesco, so I can charge @ 11KW for free. EQC is a lovely model - I decided on the Kona after watching a youtube guy "car camping" in the icy north of Norway. I think it's something I could get into as I love roadtripping and being out with nature. EQC would be perfect for it, but not sure how your missus would feel about sleeping in the car haha.

Think the problem for most people is the extra 15k upfront cost. in your case it's a 50k car with a 20k battery pack fair enough, but at the lower end like mine it's essentially a 20k car with a 15k battery pack (+75% of the total cost). I almost went for the mini electric, but that 100mile real world range was a killer. I still love that car though; its bags of fun apparently! (And real quick too)

GeorgianaCavendish

capuchin said:

All debt refinanced to 0% now except paypal! Giving myself until mid march to pay that one off. (£1560 left)

Fantastic news!  

I ended up doing a 0% money transfer from a credit card so that I could pay off my interest-bearing Paypal balance, there was a 4% fee involved but it worked out cheaper than the interest I would have paid to Paypal and by that point I was really resentful of paying interest on any debt! They keep trying to tempt me back but I find it way too easy to overspend when I'm using Paypal Credit compared to any other source of credit. 

Your trip to the Highlands sounds amazing, I really want to do the North Coast 500 one day  

alt80

@capuchin I hadn't realised the Taycan Estate was out yet, can imagine it's epic tbh. I very unexpectedly love my EQC and my other car is a Supercharged full size Range Rover. Haha re the free charge I thought my Mrs and I were probably the only ones who sometimes do that see a free charge and hook the thing up ha. Don't see many charge points being used around here tbh. 

Never mind my Mrs I couldn't sleep in a car these days mate I'm getting too old for that lol. EQC isn't as good as the RR for long journeys if I was going to take one to sleep in it'd be the Range 100%. The EQC is much more 'sporting' if you can call a 2500kg SUV that lol. If you're young enough and fit enough to do so go for it. 

My wife use to love the Mini until she realised they are really basic inside ha. No idea why she thought it would not be but anyhow she was put off the minute she saw the inside of one. Incredibly cool little electric car imo is the Honda E. Tbf only reason I have one is because I've got a business and it was financially efficient to have one. I used to have a BMW 440i and a Jaguar F-Type R but the payments were crippling me alongside the Range Rover and I've got a £48.5k balloon payment on the Range Rover hanging over me 2024 that I'd have never been able to make without the other cars going. My personal finances have always been a massive !!!!!! mess for years. Anyhow I'm actually really pleased with the EQC and will probably have another when the lease ends much to the amusement of many on here I'm sure (long story lol).

@GeorgianaCavendish Another one who'd like to do NC500 here. 

capuchin

@GeorgianaCavendish - It's strange, but I find the same. No temptation on credit cards, but Paypal credit just seems 'too easy' - So I think it's one I'm going to actually close and be done with! Targetting the end of February for that one. NC500 is a fantastic trip, both in summer and in winter. I'm so excited to finally be able to do it again! Absolutely recommended.

@alt80 They moved from a diesel Evoque to it, so quite a step up! If I had to bet, I'd bet that Rangey would be your last modern ICE car. I'm always free charging!!! No idea why people don't lol. Especially with petrol at £1.50 or so. I guess a lot of people with electrics aren't realising that the gravy train will eventually end in a few years and they'll have to pay for tax and fuel etc!!!

Mini is good quality interior imo but basically just old as hell. It's from like, 2014? Desperately needs a tech update etc because it's around the level of my 2008 SL coupe was. I reckon you might have kinda the same issue as me (especially if you buy your BTL's at auction) - I was working in antiques and regularly spending 500k in an afternoon in an auction - kinda made me not realise the value of money. I just spent and completely ignored everything personally. If there was a coin or map or watch or whisky I wanted, I'd just bid and ignore the absolute !!!!show I'd created for myself. Honestly the complete crash ahd total loss of income was probably good for me because I could have just blown everything up. Did an SOA like a month ago at the start of my DFW journey, and didn't even value my collection in it. (A good 50-100k total)  Vowed not to just sell it to pay off the debt though and do it the 'hard way' so I can finally learn the value of money. It's still REALLY hard when I get auction emails etc (Especially when Spink and Cask88 did a free rare whisky reception this week. I managed not to RSVP!)

I love the Honda-E, the big screens are kinda silly but cute. Probably a really nice city car. It's gonna be affordable in a few years I reckon to get a city runabout like that; you can already least them for £200/month or so all inclusive. That, the EQC, and an older classic cruiser would probably do you.

capuchin

Weekly accountability round up.... not great. I'm owed around £150 now from various companies, so that's good.That accounts for most of my debt increase this week. Bought 2 decent dining chairs which came out free (not sure how, paypal is buggy), so that's nice too!

Main Account: £7.31

Spending account: £6.74

Gross debt: £14,666 (Monthly interest cost £20) - Debt up by £20. Monthly Cost of debt down by £60/month.

Also bought myself a toy. @alt80 might appreciate this haha. https://www.amazon.co.uk/gp/product/B07P2GQDQ6

TheAble

How are you buying the car out of interest? Is it a lease / PCP / buying outright with a loan? 35k does sound a lot to be laying out when you're already in debt.

capuchin

TheAble said:

How are you buying the car out of interest? Is it a lease / PCP / buying outright with a loan? 35k does sound a lot to be laying out when you're already in debt.

'Luckily' I can get a motability car. It's costing me £500 + £250 for an adaptation so £750 in total up front + 62.55 a week. Unfortunately not getting one isn't really an option as I'm effectively not able to get out the house without one. (and likely £400 for a bike rack towbar. We'll see if I go for that in the end).

My current situation has been if I want to go somewhere its needed planned far in advance with a specialist hire car delivered. Not cheap. (No means tested benefits entitlement and not able to work is a pain.)

Still surprisingly excited! I've always had 'older' cars in the past and it's really going to give me a lot of freedom.

No more debt/loans for me I suspect. Not unless it's a solidly grounded investment.

capuchin

So I've been feeling stronger over the last few weeks mentally, and I don't like my financial situation, so I've been considering going back to a bit of margin trading/spread betting for income. I've had some success writing little mql programs in the past to make a bit, but it seems rather risky and not 'DFW' friendly in my current state. I need more money though, and not sure how else I can do it.

Something to ponder...

alt80

Definitely a big move up from a diesel Evoque there, nice. I know the gravy train with the electric will end so I'm making the most of it, I'm a greedy !!!!!! 100%. Really can't believe I'm saying this but I think you may be right re my Range being my last ICE (new) car. I really fancy an old V12 XJS but that'll have to wait for after I've paid my balloon off on the Range Rover. My fast sports car days are over tbh like the cruisers. Those SLs are nice too tbf mate. Don't get me started on watches or whisky though we'll never get any !!!!!! work done.

I think you and I probably similar issues I've never had respect for personal money. I've always earned well but spent more and you're right about it's taken this past year for me to appreciate the value of a £1 iyswiacf. Probably comes as no surprise I'm mortgaged up to my !!!!!! eyeballs on the investment side but decent income/ ticks along. Home not bad tbf decent ltv on that but lockdown was a big !!!!!! wake up didn't actually affect my business, I'm in property and things been good to me but that day BoJo came on the news and told us he was shutting the country down it really shook me up can tell you that. 

As for that Lego Defender that is awesome I love it. Have just sent it to my Mrs to buy 'for son' and I can build it with him over Christmas.

capuchin

@alt80 Those old XJ coupe V12's have shot up so much in price the last 5 years!! Used to be about to pick one up for around £800; just had a look a autotrader and they are £6000+ now. !!!! I've been unlucky/moronic/an idiot with cars. Had an E46 330D estate which I left to rot the first time I got sick. Apparently that's a pretty classic car now. No tax no sorn etc on my cars. Think I eventually sold them to some !!!!! like webuyanycar for around 3.5k total Then did similar with my SL, and had a CLK I really liked too which I managed to total.

Does sound like my kind of mentality! Currently looking at casks of whisky to buy at auction which is !!!!! !!!!!! in my financial position. Think I'm managing to stop myself but that 'hunt for a deal' is still way more difficult to contain than say a dinner at the Hawksmoor. I kinda just justify to myself on a best case scenario, and as you say when !!!! happens, its a big wake up call that can just screw you totally. Like this thing with trading now. I know I can do it, I know I'm good. But is it smart to be margining at like 200:1 in my posiiton just to get a step up on income. Or should I be taking things slow and just working on myself and my physio blablabla. I'm !!!! at taking things slow though. I'm not a methodical person when it comes to opportunity! I feel like... DFW and the concept of opportunity cost don't really work well together natively.

Get the light kit too my friend! Makes it even better - can just search 'Lego defender light kit on amazon' - Thats on my list too (but I don't have enough in my spending account for it yet hahaha so it'll come later)