F40 for £1k per month + fuel.......... Would You?
Discussion
swerni said:
AndrewD said:
JamieBeeston said:
With the way prices are going (and are only going to continue to go) when it comes to F40s, the adage from my old pal BJ comes to my mind..
he whom hesitates...masturbates.
If you dont get one soon, you'll end up watching someone else take the last girl at the dance and be left watching from the side lines on your jack jones!
Freud would have a field day with you, my friend he whom hesitates...masturbates.
If you dont get one soon, you'll end up watching someone else take the last girl at the dance and be left watching from the side lines on your jack jones!
SpeedYellow said:
Hum, no experience huh.... Well whatever you want to think.... With over 1300 built and many swapping countries over their lives there are more hidden stories out there than you can imagine. If you belive they've all been tracked throughout their lives I think you could be the one with lack of experience in this segment.
There are hidden stories out there. But I am not the one that claims that they will never be found out. You are. I think that is naive, and my personal experience tells me I am right. Whatever smoke screen your experience tells you, is of no relevance to me.Onno
Onno's right, a lot of these cars have been pranged. My advice to anyone thinking of buying would be to make sure you get a full chassis (lazer) geometry check done prior to purchase.
With regards to running costs they're pretty cheap to run on standard services, even Cam belts are not extortionate.
However I'd agree with Maxige's advice that you should always have a contingency fund in place for a partial engine rebuild.... You never know when it might be needed.
That said I didn't have any problems it's mine (with the exception of the 'lotto style' adjustable suspension) but I don't think I would be happy driving it knowing I couldn't aford to fix it if something major broke.
With regards to running costs they're pretty cheap to run on standard services, even Cam belts are not extortionate.
However I'd agree with Maxige's advice that you should always have a contingency fund in place for a partial engine rebuild.... You never know when it might be needed.
That said I didn't have any problems it's mine (with the exception of the 'lotto style' adjustable suspension) but I don't think I would be happy driving it knowing I couldn't aford to fix it if something major broke.
It's probably a good job the internet didn't exist in 1973 when Nick Mason paid £37,000 for his 250 GTO - he may have been talked out of buying it in case it got hit by a pensioner driving a hillman imp ( or some other 1973 piece of sh*t!) and wouldn't be sat on an asset valued around £20 million now ( or in fact enjoyed it in the meantime)
^^^^
Struggling to see the comparison between buying a GTO (one of only 39 produced and a car
with real race provenance) to an F40, which was virtually mass-produced in comparison. Rarity + desirability = potential high, future values. The F40 is desirable but there are too many of them. Maybe if you buy a delivery mileage F40 and never drive it then it will see better growth in value but where is the fun in that?
Also: £37'000 in 1973 is worth between £350k and £550k in today's money so Nick may have got a good deal but it wasn't cheap.
Struggling to see the comparison between buying a GTO (one of only 39 produced and a car
with real race provenance) to an F40, which was virtually mass-produced in comparison. Rarity + desirability = potential high, future values. The F40 is desirable but there are too many of them. Maybe if you buy a delivery mileage F40 and never drive it then it will see better growth in value but where is the fun in that?
Also: £37'000 in 1973 is worth between £350k and £550k in today's money so Nick may have got a good deal but it wasn't cheap.
Schnellmann said:
^^^^
Struggling to see the comparison between buying a GTO (one of only 39 produced and a car
with real race provenance) to an F40, which was virtually mass-produced in comparison. Rarity + desirability = potential high, future values. The F40 is desirable but there are too many of them. Maybe if you buy a delivery mileage F40 and never drive it then it will see better growth in value but where is the fun in that?
Also: £37'000 in 1973 is worth between £350k and £550k in today's money so Nick may have got a good deal but it wasn't cheap.
Off topic but a friend who met Nick told him how smart he was buying his GTO. Nick laughed and replied he wasn't smart at all. He bought the car because he loved it and the rest is history. He said had he been smart, he'd have "bloody bought two"! Struggling to see the comparison between buying a GTO (one of only 39 produced and a car
with real race provenance) to an F40, which was virtually mass-produced in comparison. Rarity + desirability = potential high, future values. The F40 is desirable but there are too many of them. Maybe if you buy a delivery mileage F40 and never drive it then it will see better growth in value but where is the fun in that?
Also: £37'000 in 1973 is worth between £350k and £550k in today's money so Nick may have got a good deal but it wasn't cheap.
jaisharma said:
I like the idea but I think the interest can't be offset against income as the purpose of the loan was not the purchase of the property
But don't let that stop you if it won't cause stress
And I am no expert.....!
You are absolutely correct: you can only offset the interest against tax if you raise the loan to purchase a business asset, e.g. another BTL. It would be obvious to even the most intellectually challenged tax inspector that the loan was not raised to buy the existing BTL. If, however, you can make the case for the F40 being a business asset, i.e. bought as a commercial investment, then maybe you could offset against tax. But you would be liable for CGT on any profit at sale.But don't let that stop you if it won't cause stress
And I am no expert.....!
But that shouldn't stop you buying the F40.
Personally, I think the idea is bonkers.
Firstly, forget the idea that things can only go up in value, look at house prices over the last four years.
As desirable as an F40 certainly is, I do think the downsides far outweigh the upsides. (Potential crash damage, engine/gearbox going pop, chavs pouring paint stripper all over it for kicks)
These kind of cars are for people like premiership footballers who could buy one for cash out of a month's wages. (Yes, I know they probably would not appreciate it as much as the OP would)
Still, go for it if you can sleep at night......
Firstly, forget the idea that things can only go up in value, look at house prices over the last four years.
As desirable as an F40 certainly is, I do think the downsides far outweigh the upsides. (Potential crash damage, engine/gearbox going pop, chavs pouring paint stripper all over it for kicks)
These kind of cars are for people like premiership footballers who could buy one for cash out of a month's wages. (Yes, I know they probably would not appreciate it as much as the OP would)
Still, go for it if you can sleep at night......
Wacky Racer said:
Personally, I think the idea is bonkers.
Firstly, forget the idea that things can only go up in value, look at house prices over the last four years.
As desirable as an F40 certainly is, I do think the downsides far outweigh the upsides. (Potential crash damage, engine/gearbox going pop, chavs pouring paint stripper all over it for kicks)
These kind of cars are for people like premiership footballers who could buy one for cash out of a month's wages. (Yes, I know they probably would not appreciate it as much as the OP would)
Still, go for it if you can sleep at night......
Houses have gone up the last 4 years, atleast in london.....Firstly, forget the idea that things can only go up in value, look at house prices over the last four years.
As desirable as an F40 certainly is, I do think the downsides far outweigh the upsides. (Potential crash damage, engine/gearbox going pop, chavs pouring paint stripper all over it for kicks)
These kind of cars are for people like premiership footballers who could buy one for cash out of a month's wages. (Yes, I know they probably would not appreciate it as much as the OP would)
Still, go for it if you can sleep at night......
Upsides easily outweigh the downsides, thats why i have 2!!
Had none of the issues you have mentioned, you know many f40 owners that had paint stripper over their car? Only ever had positive reaction to the car when its been out.
ferdi p said:
The idea certainly isn't bonkers!
No more so than someone selling his F40 to purchase a BTL !
If you can afford it, do it...
& Prem footballers are more likely to buy a Skoda than an F40 !
That's exactly my point. If you can afford it buy one. People like Chris Evans could buy one out of small change.No more so than someone selling his F40 to purchase a BTL !
If you can afford it, do it...
& Prem footballers are more likely to buy a Skoda than an F40 !
a) I know plenty of people with BTL mortgages who's properties have laid empty for months and months and they are extremely worried.
b) House prices may be going up in London (this won't last forever, neither will cheap mortgages) but in more than 50% of the country they have crashed big style since 2007 and are recovering very slowly.
c) I can't see a top footballer in a Skoda myself.....
d) My old boss had paint stripper poured all over his two week old from new Jensen Interceptor Mk 3 parked up in city centre Manchester, so it can happen. (Unlikely I know)
But, as I said, if you think it is worth the risk and you can sleep at night certainly go for it.
The OP asked for opinions and that's mine.
When I was an apprentice, there was a dealership on the Gt West Road. They had a D-Type jag in the showroom marked up at £1200. That was when you could buy an MGB for £150 or a Sunbeam Tiger for £380 (ask me how I know). The Jag seemed rediculously over priced. The salesman told me it had raced at Le-Mans but it was still the price of a small house!
I learned recently that the Jag was sold at auction for £3M. The moral of the story that time is on your side and the price will come to you eventually.
You only live once - Do it!
I learned recently that the Jag was sold at auction for £3M. The moral of the story that time is on your side and the price will come to you eventually.
You only live once - Do it!
Suprised at the number of people saying "don't do it unless you've got the money in the bank doing nothing".
Anyone who's made their own money is unlikly to have that sort of money in the bank doing nothing - more likely to have it invested getting a far higher rate of return.
If i put it in the bank i'd get what, 2 maybe 3% (?) where-as the BTL is making 8% (gross)
Even after borrowing against the BTL my money's still in effect making 4% which is more than it'd be in the bank and i could be driving around in an F40 (but not to collect the rent, that really would p
s off my tenants)
Having money for money sake where's the fun in that? Its what you buy with it that counts.
Anyone who's made their own money is unlikly to have that sort of money in the bank doing nothing - more likely to have it invested getting a far higher rate of return.
If i put it in the bank i'd get what, 2 maybe 3% (?) where-as the BTL is making 8% (gross)
Even after borrowing against the BTL my money's still in effect making 4% which is more than it'd be in the bank and i could be driving around in an F40 (but not to collect the rent, that really would p
s off my tenants)Having money for money sake where's the fun in that? Its what you buy with it that counts.
RevHappy said:
I always preferred, you can always make more money but you can't buy time. Time is hugely undervalued, as is health, there are plenty of things out there that can take both away
This absolutely resonates with me, so much so I think I'm going to nick it. One of my colleagues, same age as me, same business, we were on parallel tracks for around 25 years. Except he plied his trade in the US and made out like a bandit. But he was also notoriously tight and the only things he had to show from 10s of millions of dollars was a nice house and a couple of Harleys. Worked like a dog, and last summer had what looked like a TIA at a conference. When they took him for a scan they found no signs of stroke, but they did find 3 brain tumours. Metastatic melanoma, aggressive as f
k and effectively a death sentence. He died earlier this year. So yes, be at least a little sensible, but don't assume you'll make old bones and neither assume the very worst case scenario eg paint stripper followed by the engine and gearbox detonating. The real worst case scenarios are way worse than random s
t happening to your car 
100 IAN said:
Suprised at the number of people saying "don't do it unless you've got the money in the bank doing nothing".
Anyone who's made their own money is unlikly to have that sort of money in the bank doing nothing - more likely to have it invested getting a far higher rate of return.
If i put it in the bank i'd get what, 2 maybe 3% (?) where-as the BTL is making 8% (gross)
Even after borrowing against the BTL my money's still in effect making 4% which is more than it'd be in the bank and i could be driving around in an F40 (but not to collect the rent, that really would ps off my tenants)
Having money for money sake where's the fun in that? Its what you buy with it that counts.
Not sure people were saying only do it if you have the money in the bank (at least I wasn't). It was only that in your original post you focused on the costs being only £1000 a month and that seemed to be driving the decision. People were only pointing out that the actual cost could be a lot more. If you are happy and able to take that risk then go for it (and please post pictures when you do!)Anyone who's made their own money is unlikly to have that sort of money in the bank doing nothing - more likely to have it invested getting a far higher rate of return.
If i put it in the bank i'd get what, 2 maybe 3% (?) where-as the BTL is making 8% (gross)
Even after borrowing against the BTL my money's still in effect making 4% which is more than it'd be in the bank and i could be driving around in an F40 (but not to collect the rent, that really would p
s off my tenants)Having money for money sake where's the fun in that? Its what you buy with it that counts.
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