Can I afford to run these cars?

[R8Steve]

Ranchitup said:

Steve, as you have owned both the R8 and a Porsche; do you really think there’s a massive difference in overall maintenance costs?

As far as maintenance costs go, no, both are pretty similar in my experience.

I suppose it would be sensible to again point out that i had nothing go wrong with either which could have sent my yearly costs through the roof!

I believe both the 996TT and R8 are very reliable cars compared to other cars in their class and even the internet (where i find there to be a disproportionate amount of horror stories to start with) doesn't bring up a lot of massive issues with either. If anything the porsche seems more likely to fling you a largish bill.

I think that some people massively overestimate the costs of running these cars having read horror stories or even having experienced issues themselves. There will be an even larger percentage of owners that run the cars with no issues though in comparison to ones that do.

That being said, you should ask yourself the question - what will i do if something big does go wrong? I can't imagine having any of those cars sitting with a blown engine that you can't afford to fix being much fun!

[BRR]

Just to give the OP some examples on running costs...

I've had my Gransport for just over 3 years and have done 20k miles, in that time it has had 3 services (2 major, 1 minor) = £2,500, 1 clutch = £1,700, disks & pads £800, wheel refurb = £300, 4 tyres = £850. other miscellaneous maintenance costs = £500, so roughly 2k a year. The finance was £375 p/m for the proportion I borrowed, tax is £280 per year and insurance has been on average about £600 per year so about £650 per month before fuel. Not bad IMO, especially as the car has appreciated slightly since I bought it, I'd probably get 25k for it today so overall cost of ownership has been far less than buying a new focus etc

Prior to that I had a 986 S, the maintenance costs were similar (parts/servicing cheaper but more went wrong) but obviously purchase price was less and it also depreciated, though only by about £4k in 3 years

if £1,500 is all of your disposable money after fixed outgoings I wouldn't consider a 40k car like you've suggested unless you're prepared to make adjustments to your lifestyle. some people I know earn similar to yourself, drive flash cars yet can't afford to go to for a meal or are begging passengers for petrol money if they ever go in their car

[_Neal_]

Ranchitup said:

Why would you opt for a personal loan over finance out of interest? I will deffo have a little sinking fund for emergencies that's for sure and yeah; if it becomes a nightmare to maintain then I will definitely get rid of it ASAP!

The early repayment ability/conditions are more flexible (or were a few years ago when I looked). You own the car on day one so can sell it and pay off all or part of the loan, using the balance for another car with no need to refinance. Also you're a cash buyer so have maximum choice of cars - you can't dealer finance a private purchase, for example. Add to that low interest rates and I think it's appealing.

Someone who knows more can explain it better I'm sure, but as I see it it's maximum flexibility and ease of get out if things go a bit wrong.

[R8Steve]

_Neal_ said:

The early repayment ability/conditions are more flexible (or were a few years ago when I looked). You own the car on day one so can sell it and pay off all or part of the loan, using the balance for another car with no need to refinance. Also you're a cash buyer so have maximum choice of cars - you can't dealer finance a private purchase, for example. Add to that low interest rates and I think it's appealing.

Someone who knows more can explain it better I'm sure, but as I see it it's maximum flexibility and ease of get out if things go a bit wrong.

You are correct about the personal loan being the better choice but you can still get PCP/HP for a private purchase if you want to go down that route.

[_Neal_]

R8Steve said:

You are correct about the personal loan being the better choice but you can still get PCP/HP for a private purchase if you want to go down that route.

Thanks - never knew that - every day is a school day

[olliete]

R8Steve said:

You are correct about the personal loan being the better choice but you can still get PCP/HP for a private purchase if you want to go down that route.

Hmmm - really?

You can organise HP / PCP directly from a provider (e.g. Lloyds with Online Car Finance), but I have to buy the car from a dealer.

I can't purchase a privately sold car using PCP

[R8Steve]

olliete said:

R8Steve said:

You are correct about the personal loan being the better choice but you can still get PCP/HP for a private purchase if you want to go down that route.

Hmmm - really?

You can organise HP / PCP directly from a provider (e.g. Lloyds with Online Car Finance), but I have to buy the car from a dealer.

I can't purchase a privately sold car using PCP

Yes, i don't see it much but it is out there.

The car would obviously need to be HPI clear/V5 in sellers name and most insist on a independent check carried out on the car first.

[Justin Case]

Any of these cars can come back to bite you, so running costs are a bit of a lottery as spares are priced for a £100k car and not a £40k one The BMW 650i or a Lotus is the sensible choice, but from your shortlist I don't think that you are looking for the sensible choice.

Be prepared for a big loss if you end up with a repair that you can't afford; the market for dead Maseratis isn't too buoyant. Go for it but don't borrow too much, save up for a few months to give you that buffer. You will regret it more if you don't than if you do and it all goes pear-shaped (says someone who turned down an £8k Maserati QP4 )

[TVRJAS]

You have to be realistic that unless you're exchanging cars every 5 mins a big bill can come along anytime.
I run a Full blog on my cars something I've never done prior to joining PH and it's quite frightening.
But my Chimaera like many cars being mentioned here are at the moment deprecation proof and a car chosen correctly will see some gains.This means if you decide to sell your pride and joy hopefully it will balance the calculations (Man Maths) out a bit.

My Bill last month was £3,526

Worth every penny.

[anonymous-user]

TVRJAS said:

You have to be realistic that unless you're exchanging cars every 5 mins a big bill can come along anytime.
I run a Full blog on my cars something I've never done prior to joining PH and it's quite frightening.
But my Chimaera like many cars being mentioned here are at the moment deprecation proof and a car chosen correctly will see some gains.This means if you decide to sell your pride and joy hopefully it will balance the calculations (Man Maths) out a bit.

My Bill last month was £3,526

Worth every penny.

Guessing chassis refurb?

In fairness most 'normal' cars aren't too bad to keep on the road. The average 911 at a specialist, depending upon age, won't be out of the reach of all. Even supercars can be run for a reasonable sum of mileage is low and there is limited track use. So many variables to the equation really.

[RSbandit]

Just spent the last hr reading thru this thread and gotta tell ya it' was
v entertaining stuff! I'd agree with some others on here that those cars the OP
originally mentioned would seem to me to be a bit of a stretch given his salary ...something like an Evora or early 997
are more realistic but still terrific motors...I'm about to buy a V10+ myself a car I've wanted for a few yrs
especially after that brilliant rolling road advert, that's how u market a car! Hope the OP keeps us posted
on what he ends up doing ...wishing him all the best and good health to enjoy whatever car you eventually purchase

[TVRJAS]

yonex said:

Guessing chassis refurb?

Hi Yonex,

It was a Body off and Outriggers replaced,+ a 6K service and other things listed in my blog.The Chassis work was about £2k so still a large bill to maintain a Rover V8.

[trowelhead]

I'm all for investing etc.

That said, a friend of our group died in a car crash last year at age 21. He had no chance to even get to his 40s and have his mortgage paid off etc

What if you never get the chance again to start a business, get the dream car etc?

I personally want to look back when i'm old and remember being in my 20s / early 30s, driving epic cars, euro road trips etc.

If i'm living under a bridge at the time then so be it

[xRIEx]

anonymous said:

[redacted]

Depends what you mean by "early" - in the UK about 15% of men and 9% of women die before they're 60.

[talksthetorque]

I'm 43 now.
Looking back and having had a slightly lesser version of the opportunity you have, (although probably with a similar salary/purchase cost ratio - do you think I look back at my 28 year old self and think
"I wish I hadn't sold the Mondeo and bought the Scooby?"
Finance it with a flexible out if you need it, buy with a decent warranty and enjoy.

[Dr Jekyll]

talksthetorque said:

I'm 43 now.
Looking back and having had a slightly lesser version of the opportunity you have, (although probably with a similar salary/purchase cost ratio - do you think I look back at my 28 year old self and think
"I wish I hadn't sold the Mondeo and bought the Scooby?"

Very possibly, especially if you finance it. I know plenty of people who sold a cheap reliable car, committed themselves to finance payments and high running costs, then a few years later think wistfully of how much better of they would be if they'd stuck with the paid for car.

[anonymous-user]

TVRJAS said:

Hi Yonex,

It was a Body off and Outriggers replaced,+ a 6K service and other things listed in my blog.The Chassis work was about £2k so still a large bill to maintain a Rover V8.

I guess it goes with ownership of a TVR, once sorted though it shouldn't need doing again. Nice car btw.

[talksthetorque]

Dr Jekyll said:

talksthetorque said:

I'm 43 now.
Looking back and having had a slightly lesser version of the opportunity you have, (although probably with a similar salary/purchase cost ratio - do you think I look back at my 28 year old self and think
"I wish I hadn't sold the Mondeo and bought the Scooby?"

Very possibly, especially if you finance it.

Perhaps you need a clue.
You're absolutely fking miles off

Dr Jekyll said:

I know plenty of people who sold a cheap reliable car, committed themselves to finance payments and high running costs, then a few years later think wistfully of how much better of they would be if they'd stuck with the paid for car.

Well they weren't trying hard enough to enjoy it then!

[James_B]

Audemars said:

£1.5k per month will barely cover a ford fiesta. I wouldn't buy any of tbe cars you mentioned with £5k per month spending money

Browsing old posts about R8s brought up this classic piece of ignorance.

In case anyone else was reading this thread looking at the various claims for costs, here’s another data point.

Bought my R8 V8 three years ago for £39,000, paid £400 per year for insurance, about £200 a year for servicing, and £600 for two new tyres.

I sold it yesterday for £42,000.

Total cost to own, excluding petrol, was therefore -£600.

Resident troll’s suggested no-one should enter into buying a car like this unless they’ll have £180,000 spending money available over the three years...

[supercommuter]

James_B said:

Audemars said:

£1.5k per month will barely cover a ford fiesta. I wouldn't buy any of tbe cars you mentioned with £5k per month spending money

Browsing old posts about R8s brought up this classic piece of ignorance.

In case anyone else was reading this thread looking at the various claims for costs, here’s another data point.

Bought my R8 V8 three years ago for £39,000, paid £400 per year for insurance, about £200 a year for servicing, and £600 for two new tyres.

I sold it yesterday for £42,000.

Total cost to own, excluding petrol, was therefore -£600.

Resident troll’s suggested no-one should enter into buying a car like this unless they’ll have £180,000 spending money available over the three years...

A 13 month old whoosh parrot required?