Must Have The Best Car, As Young As Possible
Discussion
Where on earth has your brother been living for the last year or two? Even I, with my 32" ex-demo telly (paid for in cash) know that the secret to surrounding yourself with lively good-looking friends and spending your waking hours in terminally fashionable watering holes and eateries is to get yourself a Nissan Juke or Vauxhall Adam. Best of all a brand new (not just newish) one can be obtained via a PCP for no more than a cup of Starbucks coffee per day 
R8VXF said:
The guy you are talking about runs the Supercars of London youtube channel. He first started spotting supercars when he was 15 and has been posting videos on youtube since then. He bought a V8 R8 at 24 off the back of the money he earns from ad revenue and running his own company.
I say good luck to your bro OP, what is wrong with wanting a flash motor that will get the laydeez knickers moist? Better that than getting drunk down town on a Friday night.
I can't say I know the ins and outs of his life, I've seen four videos but good on him if he got the R8 with pure cash, or a small bridging loan at most. I suppose we all prioritise our money differently as I'd have put the £30k+ into my business or property but that's just me.I say good luck to your bro OP, what is wrong with wanting a flash motor that will get the laydeez knickers moist? Better that than getting drunk down town on a Friday night.
Nothing wrong with chasing ladies (I love a healthy social life), we're all guys (or girls reading this knowing what guys are like) but it's far easier to strike up a relationship talking to women than just driving past in a car. Maybe I've got it all wrong and all that smooth talk in the bars is wasted effort
.Justin Case said:
Where on earth has your brother been living for the last year or two? Even I, with my 32" ex-demo telly (paid for in cash) know that the secret to surrounding yourself with lively good-looking friends and spending your waking hours in terminally fashionable watering holes and eateries is to get yourself a Nissan Juke or Vauxhall Adam. Best of all a brand new (not just newish) one can be obtained via a PCP for no more than a cup of Starbucks coffee per day
THIS, or buying an older car would be the best thing he could do. Befriend him, please.Edited by 1Addicted on Friday 19th December 08:52
stargazer30 said:
I think that's a step too far. I just bought a brand new car on PCP. Why? to save money, pure and simple. What it costs to buy and run is less than my fuel cost alone on my old car. So even though its debt and I don't own it. Every month I run it I save £250. So in some cases (rare) its a good idea.
Stupid to go get a ton of debt on something that's going to depreciate faster than you reduce the loan balance though.
If you're saving £250 a month, PCP was a good idea for you. Was it the best option? I doubt it.Stupid to go get a ton of debt on something that's going to depreciate faster than you reduce the loan balance though.
Debt is what drives our economy, it always has. No problem at all with debt. Like anything else, some people have too much. Some people want a nice car. Some people want other things. Each to their own. I haven't been on holiday for 10 years as I see no point in spunking two weeks to a months wages on a week away. I would far rather use that money on ten tanks of petrol, nice food, a car I want and the odd cheap hotel so that we can go for a long drive through nice countryside whenever we want. For what I pay to buy and run my MX5 I could have got a good 3 year old hatch back that does 40mpg, £35 tax and had a week in Greece every year and sky. It's not the extream of some people, but I'm happy, and part of that is because I prioritise having a house over a car. If I had stayed in my 1 bed flat I could have had a very nice car, but those are the choices I made.
Anyone who says all debt is bad and things like "save up to buy stuff" is just as much a fool as the people who run up huge credit card bills and don't think of the consequences. Wise credit has its place.
Anyone who says all debt is bad and things like "save up to buy stuff" is just as much a fool as the people who run up huge credit card bills and don't think of the consequences. Wise credit has its place.
As much as I would have loved owning a proper swift car at an early age, I am glad I chose the latter option of going into town and pissing my money up the wall. Every one of my mates who were given nice cars as soon as they have passed were the ones with zero mechanical sympathy, and no real desire to work towards something 'special'. As has been said earlier two of my friends who have proper fast cars both have licences filled with points, and are always at the end of their fuel reserve and hence drive like granny's (scared?). Me in my mx on the other hand no points, loads of fuel, and am always driving it 'enthusiastically'.
To be honest the original point comes across as horribly young fogey/junior Tory-ish. It's the kind of thing I can imagine a young William Hague saying, possibly posed in front of a photo of the iron lady.
Anyhow; the financially prudent, for want of a better word, the holier than thou money martyrs who skim the surface of their pay packets to squirrel away in worthless cash bonds or derivatives they don't understand, aren't really getting it either. Saving is not a bad idea; but to make it worthwhile you have to do ridiculous amounts of it.
Which leads on to the other approach. Like, we all do crappy jobs for little reward, so why not enjoy the proceeds right now? Anathema to those outlined above - who would look down upon the party hard and screw the consequences crowd. But the thing that bothers me is their, somehow, inbuilt sense of superiority when it comes to the exercise of financial prudence. I used to try and save, now I spend. I have far more fun spending, better social life etc.
To wit: one couldn't exist without the other. If everyone were prudent to a ludicrous extent we'd end up with an economic haemorrhage. We already have this to a degree; in that a large portion of the available money in the system is essentially dead. Good at preventing inflation, bad for keeping the wheels turning. Too many elderly people shuffle off leaving a few hundred thousand here and there. Some will go to families and so on but much of it gets re-saved and stays stagnant.
A balanced economy needs a smattering of the reckless, we of the worn out Credit Cards, easy-credits and overdrafts actually serve a function. Without credit and 'income streams' (lol) based on interest payments much of the sand upon which the City is constructed would blow away. So think of the alternative angle, those who hold piles of money as numbers on a screen.
But that won't change the mind of the savers.
Anyhow; the financially prudent, for want of a better word, the holier than thou money martyrs who skim the surface of their pay packets to squirrel away in worthless cash bonds or derivatives they don't understand, aren't really getting it either. Saving is not a bad idea; but to make it worthwhile you have to do ridiculous amounts of it.
Which leads on to the other approach. Like, we all do crappy jobs for little reward, so why not enjoy the proceeds right now? Anathema to those outlined above - who would look down upon the party hard and screw the consequences crowd. But the thing that bothers me is their, somehow, inbuilt sense of superiority when it comes to the exercise of financial prudence. I used to try and save, now I spend. I have far more fun spending, better social life etc.
To wit: one couldn't exist without the other. If everyone were prudent to a ludicrous extent we'd end up with an economic haemorrhage. We already have this to a degree; in that a large portion of the available money in the system is essentially dead. Good at preventing inflation, bad for keeping the wheels turning. Too many elderly people shuffle off leaving a few hundred thousand here and there. Some will go to families and so on but much of it gets re-saved and stays stagnant.
A balanced economy needs a smattering of the reckless, we of the worn out Credit Cards, easy-credits and overdrafts actually serve a function. Without credit and 'income streams' (lol) based on interest payments much of the sand upon which the City is constructed would blow away. So think of the alternative angle, those who hold piles of money as numbers on a screen.
But that won't change the mind of the savers.
For me a social life (that involves getting smashed 2 nights every weekend) or a new car you can barely afford are both equally efficient ways of 'p*ssing your money up the wall'.
A new car will just depreciate, money spent on fuel, you aren't getting back etc... I guess you can say this about anyone's expensive hobby, whatever it is?
The only thing that makes it more of a problem in my eyes is when its at the cost of moving out or advancing in life, that's surely when you start to put things in perspective! That's not just apportioning your expendable income that's as you say, getting in the way of life!
A new car will just depreciate, money spent on fuel, you aren't getting back etc... I guess you can say this about anyone's expensive hobby, whatever it is?
The only thing that makes it more of a problem in my eyes is when its at the cost of moving out or advancing in life, that's surely when you start to put things in perspective! That's not just apportioning your expendable income that's as you say, getting in the way of life!
I wholeheartedly agree with Magnetic Meerkat.
OP your brother is right to aspire in my book but buying a car worth twice as much as his salary is financial suicide so I understand your concern. I am like him though in the sense that I waste hours on autotrader looking at cars outside my price range and then settle for something a little bit more sensible at the end of the day. I like to think I've struck a decent work/travel/social/car balance.
To the people banging on about saving (not investing) PCP's can normally be had at or below the reasonable return rate of investments so whilst buying a new car opens you up to depreciation it leaves you with capital to invest and grow so if you were to buy sensibly (I haven't) you could end up with a new car and cash (not applicable to OP's brother). Spending also has the bonus of being a lot more fun than squirrelling your money away in a savings account that barely pays enough interest to cover inflation.
OP your brother is right to aspire in my book but buying a car worth twice as much as his salary is financial suicide so I understand your concern. I am like him though in the sense that I waste hours on autotrader looking at cars outside my price range and then settle for something a little bit more sensible at the end of the day. I like to think I've struck a decent work/travel/social/car balance.
To the people banging on about saving (not investing) PCP's can normally be had at or below the reasonable return rate of investments so whilst buying a new car opens you up to depreciation it leaves you with capital to invest and grow so if you were to buy sensibly (I haven't) you could end up with a new car and cash (not applicable to OP's brother). Spending also has the bonus of being a lot more fun than squirrelling your money away in a savings account that barely pays enough interest to cover inflation.
I think he's onto a great idea, an M3 at 20 would be brilliant. If he isn't interested in going to town and getting slaughtered the car will attract girls. I'm glad the youngsters have cottoned onto the type of exotica they can have nowadays, I wish I'd realised when I was on a cracking wage at 20 
If I was 20 I'd probably buy a Golf R, £1800 down and £230x23 payments over 2years, cheap insurance too. Would have probably upgraded to a C63 or something once that lease was up. Unfortunately I'm passed that now, but I do own my Evo outright so its not all bad!
Edit: f
k it I might finance a Ferrari next year and use the Evo as the daily
If I was 20 I'd probably buy a Golf R, £1800 down and £230x23 payments over 2years, cheap insurance too. Would have probably upgraded to a C63 or something once that lease was up. Unfortunately I'm passed that now, but I do own my Evo outright so its not all bad!
Edit: f
k it I might finance a Ferrari next year and use the Evo as the daily It's no different to when I grew up in the early 90s. A mate near enough bankrupted himself buying a 2 year old RS Turbo and also needed a second loan for the £2.5K insurance, which was 3rd party only. Needless to say, he crashed it and was still paying off a car he no longer owned (and it's insurance) some 5 years later.
It's just the latest generation of young male peacocking. They have the same hair cuts - shaven sides with a massive bouffant on top, they go to the gym and over develop their upper bodies, they have to be seen wearing the latest branded clothing and seen in the best cars. Seen it all before.
It's just the latest generation of young male peacocking. They have the same hair cuts - shaven sides with a massive bouffant on top, they go to the gym and over develop their upper bodies, they have to be seen wearing the latest branded clothing and seen in the best cars. Seen it all before.
What a good idea for a thread.
I know exactly what the OP means, I am 18, so I have a lot of mates who put themselves in a st financial situation so they can have a nice flashy car.
I have one friend who is 19, and has completely written off his finaces to get himself a shiny new Polo R line, yeah sure its quick and a very nice car, but when he cant afford to do anything other than drive it it seems wasted to me. He spends all of his money on petrol because he drives like a nutter and it drinks fuel, leaving no money for holidays, having good times etc...
I have another friend who recently traded in his (financed) 11 plate Polo for a (financed) 63 plate Golf. The Golf is bottom of the range and hasn't even got alloy wheels. By doing this he has put himself in more debt than he can afford and is now on a debt management scheme, at the grand age of 20
I drive a 15 year old Polo (1.4 60hp
) and it does everything I need it to, it cost me £1000 and I paid for it up front along with my insurance with no help from Mummy and Daddy. I think its the best way, I would rather spend my spare money on mountain biking in Snowdonia rather than a new car. I think it says it all that I could afford most hot hatches, or a low spec piece of german luxury, yet I still drive my beloved Polo. I regularly get the piss taken out of me for my "stty old Polo", but at least I own it 
.
I suppose its just a personal preference of how you spend your cash at the end of the day, leave them to it I say.
I know exactly what the OP means, I am 18, so I have a lot of mates who put themselves in a s
t financial situation so they can have a nice flashy car. I have one friend who is 19, and has completely written off his finaces to get himself a shiny new Polo R line, yeah sure its quick and a very nice car, but when he cant afford to do anything other than drive it it seems wasted to me. He spends all of his money on petrol because he drives like a nutter and it drinks fuel, leaving no money for holidays, having good times etc...
I have another friend who recently traded in his (financed) 11 plate Polo for a (financed) 63 plate Golf. The Golf is bottom of the range and hasn't even got alloy wheels. By doing this he has put himself in more debt than he can afford and is now on a debt management scheme, at the grand age of 20
I drive a 15 year old Polo (1.4 60hp
) and it does everything I need it to, it cost me £1000 and I paid for it up front along with my insurance with no help from Mummy and Daddy. I think its the best way, I would rather spend my spare money on mountain biking in Snowdonia rather than a new car. I think it says it all that I could afford most hot hatches, or a low spec piece of german luxury, yet I still drive my beloved Polo. I regularly get the piss taken out of me for my "stty old Polo", but at least I own it .I suppose its just a personal preference of how you spend your cash at the end of the day, leave them to it I say.
It might be just me (and it applies to lots of cars), but if I had my time around again and could afford to put (say) 12k down on a car simply to pose and be seen in (parked outside a bar etc), I'd rather be wafting around in one of these than be sat in a base model Golf....
A lot of younger people are missing out on some seriously cool metal at bargain basement prices. Cheaper to insure as well than most small hatches.
A lot of younger people are missing out on some seriously cool metal at bargain basement prices. Cheaper to insure as well than most small hatches.
Edited by B.J.W on Friday 19th December 12:10
There are plenty of spoiled young brats who are given prestige cars by their parents. No doubt later in life they will receive a free prestige house as well. Plus a life time of free holidays. Then their entire income is disposable for even more toys. Yes I know people like this. However to try and keep up at the expense of having zero life yourself is madness. It is only stuff.
Surely anyone that is earning their own money and paying their own way can spend their disposable income on whatever they want?
Sure you can lead him towards better financial decisions than spending all his money on a car, but it is his decision to make at the end of the day.
Oh, and if he does get something flash against your better judgment, you aren't allowed a go in it
Sure you can lead him towards better financial decisions than spending all his money on a car, but it is his decision to make at the end of the day.
Oh, and if he does get something flash against your better judgment, you aren't allowed a go in it
MagneticMeerkat said:
To be honest the original point comes across as horribly young fogey/junior Tory-ish. It's the kind of thing I can imagine a young William Hague saying, possibly posed in front of a photo of the iron lady.
Anyhow; the financially prudent, for want of a better word, the holier than thou money martyrs who skim the surface of their pay packets to squirrel away in worthless cash bonds or derivatives they don't understand, aren't really getting it either. Saving is not a bad idea; but to make it worthwhile you have to do ridiculous amounts of it.
Which leads on to the other approach. Like, we all do crappy jobs for little reward, so why not enjoy the proceeds right now? Anathema to those outlined above - who would look down upon the party hard and screw the consequences crowd. But the thing that bothers me is their, somehow, inbuilt sense of superiority when it comes to the exercise of financial prudence. I used to try and save, now I spend. I have far more fun spending, better social life etc.
To wit: one couldn't exist without the other. If everyone were prudent to a ludicrous extent we'd end up with an economic haemorrhage. We already have this to a degree; in that a large portion of the available money in the system is essentially dead. Good at preventing inflation, bad for keeping the wheels turning. Too many elderly people shuffle off leaving a few hundred thousand here and there. Some will go to families and so on but much of it gets re-saved and stays stagnant.
A balanced economy needs a smattering of the reckless, we of the worn out Credit Cards, easy-credits and overdrafts actually serve a function. Without credit and 'income streams' (lol) based on interest payments much of the sand upon which the City is constructed would blow away. So think of the alternative angle, those who hold piles of money as numbers on a screen.
But that won't change the mind of the savers.
Where do you think "savings" go? The bank lends the money many times over to other people. The money does not sit in a vault somewhere - it is out in the economy creating wealth.Anyhow; the financially prudent, for want of a better word, the holier than thou money martyrs who skim the surface of their pay packets to squirrel away in worthless cash bonds or derivatives they don't understand, aren't really getting it either. Saving is not a bad idea; but to make it worthwhile you have to do ridiculous amounts of it.
Which leads on to the other approach. Like, we all do crappy jobs for little reward, so why not enjoy the proceeds right now? Anathema to those outlined above - who would look down upon the party hard and screw the consequences crowd. But the thing that bothers me is their, somehow, inbuilt sense of superiority when it comes to the exercise of financial prudence. I used to try and save, now I spend. I have far more fun spending, better social life etc.
To wit: one couldn't exist without the other. If everyone were prudent to a ludicrous extent we'd end up with an economic haemorrhage. We already have this to a degree; in that a large portion of the available money in the system is essentially dead. Good at preventing inflation, bad for keeping the wheels turning. Too many elderly people shuffle off leaving a few hundred thousand here and there. Some will go to families and so on but much of it gets re-saved and stays stagnant.
A balanced economy needs a smattering of the reckless, we of the worn out Credit Cards, easy-credits and overdrafts actually serve a function. Without credit and 'income streams' (lol) based on interest payments much of the sand upon which the City is constructed would blow away. So think of the alternative angle, those who hold piles of money as numbers on a screen.
But that won't change the mind of the savers.
Kj159 said:
What a good idea for a thread.
I know exactly what the OP means, I am 18, so I have a lot of mates who put themselves in a st financial situation so they can have a nice flashy car.
I have one friend who is 19, and has completely written off his finaces to get himself a shiny new Polo R line, yeah sure its quick and a very nice car, but when he cant afford to do anything other than drive it it seems wasted to me. He spends all of his money on petrol because he drives like a nutter and it drinks fuel, leaving no money for holidays, having good times etc...
I have another friend who recently traded in his (financed) 11 plate Polo for a (financed) 63 plate Golf. The Golf is bottom of the range and hasn't even got alloy wheels. By doing this he has put himself in more debt than he can afford and is now on a debt management scheme, at the grand age of 20
I drive a 15 year old Polo (1.4 60hp) and it does everything I need it to, it cost me £1000 and I paid for it up front along with my insurance with no help from Mummy and Daddy. I think its the best way, I would rather spend my spare money on mountain biking in Snowdonia rather than a new car. I think it says it all that I could afford most hot hatches, or a low spec piece of german luxury, yet I still drive my beloved Polo. I regularly get the piss taken out of me for my "stty old Polo", but at least I own it .
I suppose its just a personal preference of how you spend your cash at the end of the day, leave them to it I say.
An old car is also probably (a) more enjoyable to drive than most modern cars, or at least more involving and (b) likely to teach you to be a better driver - anticipation, good cornering technique, using the revs, etc are all skills that you learn quickly when driving a car with little grip, decent steering feel, bugger all power and poor brakes. A few years in a hatchback from the 1980s or 1990s would make most people better drivers - pootling around in a brand new Golf at 18 will make someone a terrible driver, in my view.I know exactly what the OP means, I am 18, so I have a lot of mates who put themselves in a s
t financial situation so they can have a nice flashy car. I have one friend who is 19, and has completely written off his finaces to get himself a shiny new Polo R line, yeah sure its quick and a very nice car, but when he cant afford to do anything other than drive it it seems wasted to me. He spends all of his money on petrol because he drives like a nutter and it drinks fuel, leaving no money for holidays, having good times etc...
I have another friend who recently traded in his (financed) 11 plate Polo for a (financed) 63 plate Golf. The Golf is bottom of the range and hasn't even got alloy wheels. By doing this he has put himself in more debt than he can afford and is now on a debt management scheme, at the grand age of 20
I drive a 15 year old Polo (1.4 60hp
) and it does everything I need it to, it cost me £1000 and I paid for it up front along with my insurance with no help from Mummy and Daddy. I think its the best way, I would rather spend my spare money on mountain biking in Snowdonia rather than a new car. I think it says it all that I could afford most hot hatches, or a low spec piece of german luxury, yet I still drive my beloved Polo. I regularly get the piss taken out of me for my "stty old Polo", but at least I own it .I suppose its just a personal preference of how you spend your cash at the end of the day, leave them to it I say.
some people are impressed by certain things, so need those things as they think its what impresses others
Some family on my other halfs side are impressed by 64 plates, a 64 plate is much much more impressive than any thing else that is not a 64 plate. For the last 7 years my main car was an X reg snotbag, but it was really really tidy and reliable, my other hobby cars were older. This was not impressive
Then i chopped the older car in for a newer one which was an opportunity financially too good to miss
"what reg is it" WOW they said
didnt once care what the car was!
Some family on my other halfs side are impressed by 64 plates, a 64 plate is much much more impressive than any thing else that is not a 64 plate. For the last 7 years my main car was an X reg snotbag, but it was really really tidy and reliable, my other hobby cars were older. This was not impressive
Then i chopped the older car in for a newer one which was an opportunity financially too good to miss
"what reg is it" WOW they said
didnt once care what the car was!
At that age, people only will only want to know him because he has a car. It is a stty feeling when that realisation dawns.
Plus, car means no drinking.
Plus, plus, older cars are much cooler aren't they ?
Going to be very hard to get through to him - good luck.
tty feeling when that realisation dawns.Plus, car means no drinking.
Plus, plus, older cars are much cooler aren't they ?
Going to be very hard to get through to him - good luck.
Edited by Vee on Friday 19th December 10:48
My best mate did the same thing. Worked out that he could afford a brand new 206 GTI 180 on tick at 22, and still leave himself £50 per week to live on after bills.
He forgot to include other things into his maths and basically meant he couldn't go out, social life went down the pan for 18 months before he could get rid.
After that he got a banger and enjoyed his life a bit more.
He forgot to include other things into his maths and basically meant he couldn't go out, social life went down the pan for 18 months before he could get rid.
After that he got a banger and enjoyed his life a bit more.
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