|
cjb1
1,230 posts
20 months
|
WHAT!!!!!!!!, you're not an accountant are you? So £5K isn't real money then hey? I'll pass you my bank account details and you can transfer £5 grand of your 'unreal' money anytime you're ready fellah!
Whether £5000 dribbles out of your coffers over a year in services, tyres, repairs, or what have you, or, it goes out in one lump to make up what you lost in depreciation when it's time to renew your car at the end of the year it's £5k however you look at it? Anyone for a game of Monopoly?[quote=Guvernator]
To many people loosing £5k in depreciation isn't the same as taking £5k out of your bank account\credit card
|
|
|
cjb1
1,230 posts
20 months
|
Governator needs to get out and live a little! A Fezzer for Mondeo money? If it's a weekend sunny day and high day car you can't go wrong, if it's your everyday smoker then don't do it!! I with Mr Flatline on this one flatline84 said: For like - a ferrari? 
|
|
|
DJRC
19,835 posts
105 months
|
The Mondeo/Fiesta though costs £200/month. The Fez cost £17k up front. Then it might hit you with a £5k bill. £200/month is a hell of a lot more affordable to a lot more people than 20 odd grand in the bank account. Wives also tend to object to said money leaving the account.
Before the "but you will lose it on depreciation anyway" theorists reply, take note...voice of experience talking.
|
|
|
Guvernator
2,757 posts
34 months
|
cjb1 said: Governator needs to get out and live a little! A Fezzer for Mondeo money? If it's a weekend sunny day and high day car you can't go wrong, if it's your everyday smoker then don't do it!! I with Mr Flatline on this one flatline84 said: For like - a ferrari? Get out and live a litte? I think you'll find if you have a look at only some of the previous cars I've owned that I've done my fare share of living thanks  I wasn't saying I would rather buy a Fiesta either, I was just trying unsuccessfully it seems to describe why the majority of people would choose a Fiesta over a Ferrari, i.e. that a fixed monthly cost for a new econobox is a lot less financially risky\manegeable to the majority of people then a punt on a £17k Ferrari, yes even despite the savage depreciation on a Fiesta as this isn't seen as a tangible cost. I am not sure why a large proportion of the car buying public see it that way and it's certainly not the way I make my car buying purchases but this is the reality, otherwise you'd see a lot more people driving around in old Ferrari's rather than in 12 plate Fiesta's.
|
|
|
cjb1
1,230 posts
20 months
|
point taken! That's me told then! My lad works for a Ford Dealership, I wouldn't drive around in even a tangible Ford Fiesta! I am very fortunate to have the use of a fairly high level of company car which enables me to have the pleasure of owning a new Mondeo priced '88 Porsche 911. I keep it quiet from neighbours as I know that they would brand me a flash git which is ridiculous as their modern 'econoboxes' are probably a greater cost bear than my old classic but try telling them that. The guy that's bought the £17k Ferrari is a hero in my opinion. Have a nice day guvenor.;) Guvernator said: Get out and live a litte? I think you'll find if you have a look at only some of the previous cars I've owned that I've done my fare share of living thanks I wasn't saying I would rather buy a Fiesta either, I was just trying unsuccessfully it seems to describe why the majority of people would choose a Fiesta over a Ferrari, i.e. that a fixed monthly cost for a new econobox is a lot less financially risky\manegeable to the majority of people then a punt on a £17k Ferrari, yes even despite the savage depreciation on a Fiesta as this isn't seen as a tangible cost. I am not sure why a large proportion of the car buying public see it that way and it's certainly not the way I make my car buying purchases but this is the reality, otherwise you'd see a lot more people driving around in old Ferrari's rather than in 12 plate Fiesta's.
|
Advertisement
|
|
|
Guvernator
2,757 posts
34 months
|
No worries, thanks  To be honest my ideal car would a Porsche 993 or late NSX, both cars which while having the potential for some big bills, make up for it in the fact that you will not loose any money come resale time. Unfortuantely they have both gone the other way in the last few years and have started to rise massively in price. I suspect this 456 has also bottomed out, wonder if it's got what it takes to become a future classic and start rising again? Might make the cost of ownership more swallowable.
|
|
|
cjb1
1,230 posts
20 months
|
I can't help thinking that if you buy the right 911 (good history etc) the idea of high running costs is a bit mis-conceived. I'm on my second 911 and can honestly say that they are fairly robust providing you buy sensibly. The current one ('88 3.2 Coupé sport) has a strong history though it's covered in excess of 100k miles. In the 4 years I've had it it's cost me modest amounts of money having been serviced at classic car specialists experienced in 911's, Mobil One and filters, brake pads and an RME Relay at 25 quid. Buy a low purchase price bucket of trouble and it will cost an arm and a leg, swings and roundabouts. The point is that the man in the street shouldn't get the idea in his head that every exotic classic is necessarily going to ruin him financially. Guvernator said: No worries, thanks To be honest my ideal car would a Porsche 993 or late NSX, both cars which while having the potential for some big bills, make up for it in the fact that you will not loose any money come resale time. Unfortuantely they have both gone the other way in the last few years and have started to rise massively in price. I suspect this 456 has also bottomed out, wonder if it's got what it takes to become a future classic and start rising again? Might make the cost of ownership more swallowable.
|
|
|
Guvernator
2,757 posts
34 months
|
Absolutely agree, just a shame that most of the interesting classics seem to rapidly be climbing out of the man in the streets price range 
|
|
|
cjb1
1,230 posts
20 months
|
You're right but on the other side of the coin if you actually own one though? Mine has appreciated 25% in the past 4 years. Guvernator said: Absolutely agree, just a shame that most of the interesting classics seem to rapidly be climbing out of the man in the streets price range
|
|
|
mik_jg
66 posts
58 months
|
Can we stop with the £200 per month analogy please? That works out at £12000 over 5 years, which would be just £10000 borrowed if you assumed a low interest rate of 4% base over 5 years. A more typical car loan rate of 6% base on a used vehicle would work out at around £368 per month for £17000 borrowed, not including arrangement and other fees that may be payable.
|
|
|
CDP
4,574 posts
123 months
|
cjb1 said: I can't help thinking that if you buy the right 911 (good history etc) the idea of high running costs is a bit mis-conceived. I'm on my second 911 and can honestly say that they are fairly robust providing you buy sensibly. The current one ('88 3.2 Coupé sport) has a strong history though it's covered in excess of 100k miles. In the 4 years I've had it it's cost me modest amounts of money having been serviced at classic car specialists experienced in 911's, Mobil One and filters, brake pads and an RME Relay at 25 quid. Buy a low purchase price bucket of trouble and it will cost an arm and a leg, swings and roundabouts. The point is that the man in the street shouldn't get the idea in his head that every exotic classic is necessarily going to ruin him financially. When I looked into 85 to 89' year 911's they seemed to range from 7K to 17K. The trouble was telling them apart, pushing 30 faults are to be expected. Even the car I was really keen on (inches of paperwork, 3 owners, original receipt, club member's car with show and magazine history) in the specialist dealers on inspection seemed to have hidden problems that they appear to have been caught out with.
|
|
|
carinaman
3,190 posts
41 months
|
You may to take a peek at page 23 of the October issue of Motor Sport when next at the shops.
|
|
|
CliveM
357 posts
54 months
|
OP - now you've had your summer's worth of fun out of it, do you think you'll keep it?
Are you still getting the same pleasure from driving it?
|
|
|
McClure
1,218 posts
15 months
|
CliveM said: OP - now you've had your summer's worth of fun out of it, do you think you'll keep it?
Are you still getting the same pleasure from driving it? Seconded - OP - how are you getting on?
|
|
|
sideways sid
323 posts
84 months
|
McClure said: CliveM said: OP - now you've had your summer's worth of fun out of it, do you think you'll keep it?
Are you still getting the same pleasure from driving it? Seconded - OP - how are you getting on? OP? Plenty of us keen to hear how the 456 is going?
|
|
|
billzeebub
2,357 posts
68 months
|
Sounds like the OP may have had to give up his Internet connection/sell everything of in order to keep his Fezza on the road?!..
|
|
|
Renn Sport
1,379 posts
78 months
|
Old thread... I all for this, you live once so go for it! I hope your really enjoying this car. Its just a awesome thing to do.
|
|
|
cjb1
1,230 posts
20 months
|
Agreed, how is the Fezzer getting on, hope you still have it and are enjoying it??
|
|
|
edo
12,573 posts
134 months
|
He cant type a reply, he's had to sell his arms.
|
|
|
CDP
4,574 posts
123 months
|
edo said: He cant type a reply, he's had to sell his arms. Or perhaps he's been selling them to fund the car and can't get out of Pyongyang having just installed a little reactor or two?
|
|
