£25,000. Buy a car or Btl

[gregs1959]

In a dilemma. Would like to buy a nice car. Do I spend £25,000 on one or do I put it down on a BTL.

Lots of properties around for £75,000. Rental income say £450.00 month. Repayments I expect are less than £200.00.

Leaves minimum £250.00 surplus. £50.00 month for tax man. £200.00 to finance a car.

How does that sound ????

Mark.

[Jockman]

Put it in an EIS and reclaim £7,500 in income tax (so long as you have that much income tax to reclaim).

A nice vanilla fund aiming at 1.2x equity return over 4 years.

No CGT and out of your estate for IHT.

[ooid]

Or buy a parking space in London There are still some good parking spots less than 30k and can easily generate continuous parking rent due to high demand.

[23rdian]

Where would you look for these parking spaces? Anything online?

[Jockman]

Airport Parking spaces are another one. Google them. My SiPP Administrator said 'no chance' and my IFA told me to run a mile from these schemes.

[mike74]

Have you taken into consideration S24?

(Hint- it's not a model of car)

[ooid]

I have no idea about airport schemes and etc... Last year, I accidentally ended up buying a parking space I used to rent, the landlord gave a notice to sell so I just bought it Quite easy to rent or use it for yourself (in my case!), and touch the wood so far no maintenance