Pension or House Deposit?

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  • michaels
    michaels Posts: 28,004 Forumite
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    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.....
    I think....
  • GunJack
    GunJack Posts: 11,673 Forumite
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    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 ;)
    ......Gettin' There, Wherever There is......

    I have a dodgy "i" key, so ignore spelling errors due to "i" issues, ...I blame Apple :D
  • k6chris
    k6chris Posts: 738 Forumite
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    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.....
    "For every complicated problem, there is always a simple, wrong answer"
  • crv1963
    crv1963 Posts: 1,372 Forumite
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    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!
    CRV1963- Light bulb moment Sept 15- Planning the great escape- aka retirement!
  • atush
    atush Posts: 18,726 Forumite
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    I buy cars that are 1-2 years old with warrenties.

    Newish, but dont depreciate as badly.
  • Anonymous101
    Anonymous101 Posts: 1,869 Forumite
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    edited 7 August 2018 at 10:40AM
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    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
    Triumph13 Posts: 1,730 Forumite
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    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
    swindiff Posts: 864 Forumite
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    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
    Anonymous101 Posts: 1,869 Forumite
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    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.

    :D

    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
    atush Posts: 18,726 Forumite
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    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
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