How do you currently afford your car?

tommyedinburgh

Ibrahim5 said:

This is a money saving forum. All I said is that I don't think spending over £100k on a couple of cars is very impressive to money savers. Maybe on a petrol head forum they would be impressed.

Like I said earlier on the thread, we had two cars combined worth £36/£37k - sold and replaced with two combined at £3k. The rest chucked to pay off some mortgages. So happy with that. 

Ibrahim5

tommyedinburgh said:

Ibrahim5 said:

This is a money saving forum. All I said is that I don't think spending over £100k on a couple of cars is very impressive to money savers. Maybe on a petrol head forum they would be impressed.

Like I said earlier on the thread, we had two cars combined worth £36/£37k - sold and replaced with two combined at £3k. The rest chucked to pay off some mortgages. So happy with that. 

Excellent money saving. That's what we like to hear on a MONEY SAVING forum.

mclaren32

Ibrahim5 said:

This is a money saving forum. All I said is that I don't think spending over £100k on a couple of cars is very impressive to money savers. Maybe on a petrol head forum they would be impressed.

Why do lots of people look to save money?

To spend it on other things……

If you took a moment to climb down from your horse you might appreciate that when someone has a marginal tax rate of circa 65% it is very tax efficient to salary sacrifice an EV. 

The actual cost of an i Pace to me is actually circa £380 p/m, no deposit plus insurance and maintenance included.

Also maybe consider that a £31k focus bought 6 years ago has suffered less than £5k in deprecation during that time.

Being a money saver can be a brilliant way to stretch your income a very long way & help you enjoy a nice lifestyle.

motorguy

Ibrahim5 said:

This is a money saving forum. All I said is that I don't think spending over £100k on a couple of cars is very impressive to money savers. Maybe on a petrol head forum they would be impressed.

The O/P asked what people were driving and how, and people responded.

The O/P also asked directly what that person was on, and they responded.

Sorry if the poster having more money than you outraged you.

motorguy

mclaren32 said:

Ibrahim5 said:

This is a money saving forum. All I said is that I don't think spending over £100k on a couple of cars is very impressive to money savers. Maybe on a petrol head forum they would be impressed.

Why do lots of people look to save money?

To spend it on other things……

If you took a moment to climb down from your horse you might appreciate that when someone has a marginal tax rate of circa 65% it is very tax efficient to salary sacrifice an EV. 

The actual cost of an i Pace to me is actually circa £380 p/m, no deposit plus insurance and maintenance included.

Also maybe consider that a £31k focus bought 6 years ago has suffered less than £5k in deprecation during that time.

Being a money saver can be a brilliant way to stretch your income a very long way & help you enjoy a nice lifestyle.

On top of that, your fuelling costs would be miniscule also.

motorguy

Ibrahim5 said:

tommyedinburgh said:

Ibrahim5 said:

This is a money saving forum. All I said is that I don't think spending over £100k on a couple of cars is very impressive to money savers. Maybe on a petrol head forum they would be impressed.

Like I said earlier on the thread, we had two cars combined worth £36/£37k - sold and replaced with two combined at £3k. The rest chucked to pay off some mortgages. So happy with that. 

Excellent money saving. That's what we like to hear on a MONEY SAVING forum.

Who made you Forum God?

The ethos of MSE is to save money on the things you want.  McLaren32 has done just that.

Result, and inspiring as far as i'm concerned.  

Herzlos

Ibrahim5 said:

This is a money saving forum. All I said is that I don't think spending over £100k on a couple of cars is very impressive to money savers. Maybe on a petrol head forum they would be impressed.

But he's answering the question as asked; I don't know why you are so upset about it.

Plus, the way he's doing it likely IS very money saving. The £78k iPace, if paid via a salary sacrifice scheme, could mean it's actually only costing about £39k (assuming a 50% tax rate) and it'll have a BIK rate of 0% and minimal running costs. It could actually work out cheaper over it's lifetime than a fairly standard BMW 3 series.

Herzlos

mclaren32 said:

The actual cost of an i Pace to me is actually circa £380 p/m, no deposit plus insurance and maintenance included.

I'd snap up an iPace for £380/month. I'm paying £300/month (+tax, insurance, diesel) for a Citroen Berlingo!

motorguy

Herzlos said:

mclaren32 said:

The actual cost of an i Pace to me is actually circa £380 p/m, no deposit plus insurance and maintenance included.

I'd snap up an iPace for £380/month. I'm paying £300/month (+tax, insurance, diesel) for a Citroen Berlingo!

+1

Amazing deal.  

ComicGeek

Bought my Skoda Enyaq EV through my limited company, which can then offset this against corporation tax on profits. Company pays for all electricity used for charging, although most of this is free from our PV system and the rest is on cheap night time tariffs from 100% renewable energy sources, and through our battery system.

Company pays for all insurance, tax, electricity, breakdown cover etc. Total cost to me is £378 in BIK tax payment for the next 12 months, and only £32 for the last 2 months since I got it.