Anyone into cars but not credit?

[carmadgaz]

gizlaroc said:

11 year old bike, you just got to have new new! Tut tut, trying to keep up with the Jones eh!!

Current bike is 20yo so I thought I'd (look at) treating myself. May even take a loan out to pay for it

The "Jones" next door considers my '67 Landie a "modern" so I'm miles ahead of him

[Biker's Nemesis]

2 of my bikes are a 34 year old 125cc and a 38 year old 50cc moped.

I'm really poor.

[Devil2575]

simonr100 said:

What you seem unable to grasp is that in my case the fact that I was spending £628 on finance on an M3 was stupid! Yes I enjoyed the car and could pay for it with ease but it was still a stupid decision, one that made my family poorer than we should be.

Poorer than you should have been? How do you measure that?

[vikingaero]

Biker's Nemesis said:

2 of my bikes are a 34 year old 125cc and a 38 year old 50cc moped.

I'm really poor.

One of the Office Juniors at work leases a 120d BMW for £300 per month, Insurance is £200 per month, but "Ohhh! Only £30 road tax..". He's just got a £75 per month contract for the new iPhone, vapes £50 per month and pays £600pm as his share of rent with his GF. Getting him to pay for sponsorship is nigh on impossible. He scoffs from the biscuit barrel and has never once paid for replenishment. Never comes out with us because he's always skint.

On the other hand his colleague doesn't smoke, has a sensible £15 per month Samsung phone, lives at home, drives a 02 plate Corsa in comedy puce green, is out for an opening of an envelope, gets mullered most weekends and is waist deep in fanny.

[Biker's Nemesis]

vikingaero said:

On the other hand his colleague doesn't smoke, has a sensible £15 per month Samsung phone, lives at home, drives a 02 plate Corsa in comedy puce green, is out for an opening of an envelope, gets mullered most weekends and is waist deep in fanny.

That's my kind of living apart from being waist deep in err, you know what.

[SWoll]

vikingaero said:

One of the Office Juniors at work leases a 120d BMW for £300 per month, Insurance is £200 per month, but "Ohhh! Only £30 road tax..". He's just got a £75 per month contract for the new iPhone, vapes £50 per month and pays £600pm as his share of rent with his GF. Getting him to pay for sponsorship is nigh on impossible. He scoffs from the biscuit barrel and has never once paid for replenishment. Never comes out with us because he's always skint.

On the other hand his colleague doesn't smoke, has a sensible £15 per month Samsung phone, lives at home, drives a 02 plate Corsa in comedy puce green, is out for an opening of an envelope, gets mullered most weekends and is waist deep in fanny.

They both sound dreadful, perhaps a new job?

[vikingaero]

SWoll said:

They both sound dreadful, perhaps a new job?

You get these whippersnappers at most places - little big bks. I suppose some of us have been the young bolshy ones once.

[Zod]

SWoll said:

Well, Audemars is always telling us how much money his tenants pay in London rent and SimonR100 is always complaining about his family being poorer than they could be, whilst pointing out he has an MP4-12C and a DB9 so possibly one of those 2?

TBH, after reading their posts over the past few weeks they're welcome to it.

and Simon moans that his family is poorer because he spent something like £20K (if over three years) on an M3. Sell one of the other cars, Simon and you'll have the M3 money back and more. Your story makes no sense.

[SWoll]

Zod said:

SWoll said:

Well, Audemars is always telling us how much money his tenants pay in London rent and SimonR100 is always complaining about his family being poorer than they could be, whilst pointing out he has an MP4-12C and a DB9 so possibly one of those 2?

TBH, after reading their posts over the past few weeks they're welcome to it.

and Simon moans that his family is poorer because he spent something like £20K (if over three years) on an M3. Sell one of the other cars, Simon and you'll have the M3 money back and more. Your story makes no sense.

He seemed to be complaining more about the fact that he did it on finance I thought, so the interest is the problem rather than the purchase price, which is probably more like a couple of grand over the period. I agree though, very strange, which is why I asked him about it. I expected cautionary tale of a young guy over-extending himself to buy a flash car well above his means, not being able to keep up the payments and having it re-possessed and his credit history screwed for years based on how often he mentions it.

I notice Audemar hasn't been back to explain why someone earning £100k can't afford £300 a month for a car comments he always leaves on these threads either..

[B.J.W]

Mortgage paid. disposable income etc etc ec

Now find it far more fun to find an interesting car for £4,000, run it, spend more money than I should sorting it with a view to moving it on, keep it, find something else interesting for £4,000, repeat My XJR is a classic case. A lovely, well sorted car for pennies (in the grand scheme of things - or 7 months finance payments looked at another way) and can't help myself when it comes to making a list of things to do to make it better.

I've been looking at Disco 4's as a replacement for our trusty '2', but management has forbidden me from buying one on the basis that the 2 has never let us down, does everything we need it to as a family wagon and has only just hit 60,000 on an 04 plate.

I suppose I could lease a car for £600 a month, but then I'd be depriving my friends of the opportunity to take the piss out of me at the pub for my latest 4 wheel folly, or to gather round a supercharged V8 Jag that I picked up for less than most PCP deposits.

each to their own ref cash v finance. Whatever makes you happy

[RDMcG]

There is no "right" answer. Each of us has differing circumstances....income, age, dependents.job security and so on. When I was young I was more likely to borrow for a car as I wanted to have the experience and I had a long runway ahead to have a career. Later, especially when I hit 50, I was very loth to borrow anything for any reason and went to just cash. Again, this was just what worked for me, and I would not presume to judge anyone else for their own decisions.

[juggsy]

Seems the thought process for some is if you're not using every penny of disposable income paying off your mortgage as it's an appreciating asset, then you're an idiot sinking money into anything else.

Yes I'd love to be mortgage free, however I know it's going to take me a good while to get there. I could chip away at it more and shave a few years off, or I could use that money to enjoy life a bit.

Cars, food, watches, having kids, everyone has a different idea on what they want to spend money on in life. But if life was all about paying off your mortgage and nothing else, it would be fking boring.

[WestyCarl]

juggsy said:

Seems the thought process for some is if you're not using every penny of disposable income paying off your mortgage as it's an appreciating asset, then you're an idiot sinking money into anything else.

Yes I'd love to be mortgage free, however I know it's going to take me a good while to get there. I could chip away at it more and shave a few years off, or I could use that money to enjoy life a bit.

Cars, food, watches, having kids, everyone has a different idea on what they want to spend money on in life. But if life was all about paying off your mortgage and nothing else, it would be fking boring.

100%, I'm paying off my mortgage at exactly the amount the bank asked me too and nothing more. All my disposable income goes on fun stuff for me and the family, whatever we fancy.

Thinking more is an "asset" and must be treated as much has to be a boring way to live. Money allows you to have fun, whatever that may be.

[Brilad]

Butter Face said:

It's about time we had one of these threads. It's been way too long...

Did you do some of the music for Xtreme G III?

If so that was a great game and your tracks were great.

[Brilad]

IanCress said:

Some people take out credit to buy a car. Some people buy cars outright with cash.
Either method is acceptable as long as they can afford the payments. Everyone's situation is different.

I own one of my cars and lease the other. Half of myself hates the other half.

The fence is NOT on offer!

[berlintaxi]

WestyCarl said:

Money allows you to have fun, whatever that may be.

Exactly, mortgages have never been cheaper so why overpay when it costing a couple of nights out a year to service it at most.

[Devil2575]

berlintaxi said:

WestyCarl said:

Money allows you to have fun, whatever that may be.

Exactly, mortgages have never been cheaper so why overpay when it costing a couple of nights out a year to service it at most.

A couple of nights out a year!?

Either you have a tiny mortgage or very expensive nights out.

Why overpay when borrowing is cheap? Because the more you pay off now when you can afford it the less you will be exposed if and when rates go up. Also overpaying gives you a buffer.

[hondansx]

Jesus, another one of these threads!

I find it funny that people can't grasp the concept that people may have a different outlook on life than them. It's a pretty limiting way of living to assume everyone should think like you do, and if they don't, they are wrong. Prepare to be disappointed.

[Devil2575]

swerni said:

RDMcG said:

I would not presume to judge anyone else for their own decisions.

That's because you're a well rounded and intelligent adult.
Also as you say, circumstances change over time as do priorities.

This.

[tuffer]

£30K down and £900 a month........WIN http://www.hrowen.co.uk/used-lamborghini/huracan-i...
Because, Pistonheads.