What do you do to afford your cars...? If it's not too rude.
Discussion
I work for someone else and have done pretty well so far but we're not talking property or banking numbers. I'm half scientist, half engineer. In my case it's been a story of save as much as you can all the time, commit to a monthly savings level and do what it takes to hold it. Even now, married and with 2 kids, we shop in aldi, buy on discount, eat leftovers etc. Don't get me wrong, we don't want for anything snd have our indulgences. We just prefer to spend the money wisely rather than frittering it away on s
te.
Eta
And when you do buy a high value item like a nice car, make damn sure you've done your homework and buy well and as cheap as possible, and preferably something that will hold value. The guy before who's buying a Mustang, very nice but you'd do better if its s 67 than 2017 model. I guess being given a house changes the situation somewhat though!
te.Eta
And when you do buy a high value item like a nice car, make damn sure you've done your homework and buy well and as cheap as possible, and preferably something that will hold value. The guy before who's buying a Mustang, very nice but you'd do better if its s 67 than 2017 model. I guess being given a house changes the situation somewhat though!
Edited by 2gins on Saturday 18th February 23:15
To be honest it was a bit of a silver spoon to get me on my way (first Btl bought for me), refurbed myself and remortgaged for the next one, again heavy refurb and remortgage and rinse and repeat and so on and so on. Im 31 now with a good income, paying down the mortgages quite quickly with any excess income. Waiting for the next property crash to start buying again.
As for cars, I have 3 to fund in the household so I lease one (the family hack currently an xc60), and have a van and my own car that I buy outright, currently a berlingo and a Ford focus. My problem is given the choice of 100k on a car or 100k on a wreck of house it would always be the house so im destined to have run of the mill cars for now.
As for cars, I have 3 to fund in the household so I lease one (the family hack currently an xc60), and have a van and my own car that I buy outright, currently a berlingo and a Ford focus. My problem is given the choice of 100k on a car or 100k on a wreck of house it would always be the house so im destined to have run of the mill cars for now.
It's all about priorities. I can't be bothered with a 'nice' car whatever that means. Want something fun and light and convertible, buy an MR2 / MX5, want something for motorway work, buy an old barge. Want something for commuting, go and pick up an older 5 door diesel hatch. Nothing there is going to cost more that a thousand or 2, (possibly in total) - and you have your "nice" car.
You really don't want that Ferrari 250 that James Dean drove - that's ver little to do with cars, and much more to do with investment opportunity, maintenance and storage costs, and pose. (IMO as ever).
You really don't want that Ferrari 250 that James Dean drove - that's ver little to do with cars, and much more to do with investment opportunity, maintenance and storage costs, and pose. (IMO as ever).
But it took a lot of working away from home and 90-100+ hour weeks to get here..jakesmith said:
You may have acquired skills that could see you far better remunerated with the right opportunity and some luck though. What do you do? Have you networked hard?
Car mechanic, or "vehicle technician" as we now have to be known. 14 years with Mercedes-Benz including a stint in a supervisory role in the Middle East, and for last couple of years I've been at a Ford dealer as (believe it or not) the money was better than sticking with the 3-pointed star at the time.Had I stuck with my role in Bahrain then no doubt things would be different now, but personal circumstances at the time dictated my return to the UK. Seeing as I was still 23 then, no company was interested in employing me for any kind of senior role so I returned to the shop floor.
I have done a lot of searching around recently, but a technician's salary plateaus at around £29k regardless of the brand or role specifics unfortunately. As far as other career paths I could use my skills for, at 33 I'm now expected to have a lot of experience as well an engineering degree in whatever role or industry it may be so it's difficult. Rut is the word that springs to mind. If I had my 16th birthday all over again I'd have gone in to any trade or industry apart from cars because it's just so far behind everything else in monetary terms.
loafer123 said:
Rat_Fink_67 said:
I must admit, I do find the notion of "just work harder" somewhat idealistic. I' unfortunately chose the motor trade at 16 where I have remained in full time employment ever since. I'm 33, around 130-140% efficient on average, take every bit of overtime available to me, and am still nowhere near either being able to purchase a £20k+ car, or raise the capital to become a business owner. I think the results from "working hard" depend very much on the career path taken in the first place. My knees and back are fairly knackered, and I've developed carpal tunnel syndrome too, not even halfway through my working life...how much harder do I need to work? Maybe until I'm paralysed or have lost the use of my fingers?
I think sometimes when people say "just work harder" it can be fairly patronising.
Reward is linked to risk and many of the replies have been from people who have started their own businesses. I think sometimes when people say "just work harder" it can be fairly patronising.
It isn't for everyone, of course, but hard work when you work for yourself means you keep all of the rewards.
It has to be one of the most motivating aspects...on a salary, many jobs will vary in intensity and if you put in 150% time in one month to get the job done, you're likely to get the same pay at the end of it, whereas a very simple self-employment equation demonstrates that you'll get 150% more at the end of the month (assuming that the extra isn't working for a client in panic mode who will pay above the going rate to get the work done on time for their otherwise-missed deadline, then it'll be more).
Dr Doofenshmirtz said:
Some of the nicest people I know drive old bangers.
Indeedy. Choosing to drive a battered old Shed rather than whatever shiny new Cockwagon is in fashion this week is confirmation you have absolutely nothing to prove and absolutely nothing to loose.
Incredibly liberating.
Jaguar steve said:
Dr Doofenshmirtz said:
Some of the nicest people I know drive old bangers.
Indeedy. Choosing to drive a battered old Shed rather than whatever shiny new Cockwagon is in fashion this week is confirmation you have absolutely nothing to prove and absolutely nothing to loose.
Incredibly liberating.
If you don't recognize there are w
kers in all walks of life, even shed drivers, you're delude. I guess choosing to drive just a 'cockwagon' in place of a supercar is humble and liberating for some?
Rat_Fink_67 said:
If I had my 16th birthday all over again I'd have gone in to any trade or industry apart from cars because it's just so far behind everything else in monetary terms.
I know where you're coming from on that one, and agree that the 'work harder' phrase can be patronising. In many ways a lot of people working the hardest are on the lowest incomes through no real fault of their own. I've covered various aspects of the motor trade. However good you are there's an upper limit on employed income which is pretty poor these days relative to other trades. dazwalsh said:
To be honest it was a bit of a silver spoon to get me on my way (first Btl bought for me), refurbed myself and remortgaged for the next one, again heavy refurb and remortgage and rinse and repeat and so on and so on. Im 31 now with a good income, paying down the mortgages quite quickly with any excess income. Waiting for the next property crash to start buying again.
As for cars, I have 3 to fund in the household so I lease one (the family hack currently an xc60), and have a van and my own car that I buy outright, currently a berlingo and a Ford focus. My problem is given the choice of 100k on a car or 100k on a wreck of house it would always be the house so im destined to have run of the mill cars for now.
Do you ever see a situation where your finances are good (savings and investments are all where you want them) so you would put 100k into a car? It's a tough balance, but there surely is a balance somewhere where you have enough / sufficient elsewhere and will allow yourself a special car?As for cars, I have 3 to fund in the household so I lease one (the family hack currently an xc60), and have a van and my own car that I buy outright, currently a berlingo and a Ford focus. My problem is given the choice of 100k on a car or 100k on a wreck of house it would always be the house so im destined to have run of the mill cars for now.
I only raise it as it's my way of thinking. Once (if) I get through a few thresholds on investments and savings, I will allow myself something special - I don't think it has to be either / or unless more wealth will always be no1 objective above anything else (no nice cars, nice meals, nice holidays?)
I work in IT Infrastructure, and earn what I class as good money. Not London money, but I'm happy with what I earn.
Got myself into a mountain of debt when I bought a house with my ex years ago when 100% mortgages were available ... Soon split up and I had to keep the house on by myself. Debts mounted.
Worked my arse off to keep my head above water, whilst trying to keep interesting but older cars.
Finally last year sold the godforsaken house (the fiancée and I moved), paid off all my debts and bought a 12 month old fully loaded Octavia VRS 230 using a good old fashioned loan, so I'll own it outright in 3 years.
I'll most likely never own anything amazing or exciting, but happy at this level, and thankful I'm able to do this.
Got myself into a mountain of debt when I bought a house with my ex years ago when 100% mortgages were available ... Soon split up and I had to keep the house on by myself. Debts mounted.
Worked my arse off to keep my head above water, whilst trying to keep interesting but older cars.
Finally last year sold the godforsaken house (the fiancée and I moved), paid off all my debts and bought a 12 month old fully loaded Octavia VRS 230 using a good old fashioned loan, so I'll own it outright in 3 years.
I'll most likely never own anything amazing or exciting, but happy at this level, and thankful I'm able to do this.
Drug dealer, at least that's what some folks have assumed when I'm driving my chavvy Evo. General indifference when driving the ISF. Takeaway delivery driver is the assumption when driving the glorious Rover 216 shed.
In reality I'm an accounts monkey for a IT company and technically the bank own a good chunk of my cars for the next year or so or until the ISF is sold. I don't drink or smoke so V Power is my main vice.
In reality I'm an accounts monkey for a IT company and technically the bank own a good chunk of my cars for the next year or so or until the ISF is sold. I don't drink or smoke so V Power is my main vice.
exelero said:
In all fairness people are either over or under paid. Who deserves more? Me who works in a very busy transport office 12 hrs on nights including weekends or my mate working 9-5 in another office doing nothing for most of the day? Really, he said he only works like 5-8 hrs pcm, of course he is there but he is not doing anything. Yet I get paid smth like 20 grand a year and him just shy of 200k a year. I still have a long way to go though, I'm only 24.
A wise man once said, work smarter, not harder.Monkeylegend said:
exelero said:
In all fairness people are either over or under paid. Who deserves more? Me who works in a very busy transport office 12 hrs on nights including weekends or my mate working 9-5 in another office doing nothing for most of the day? Really, he said he only works like 5-8 hrs pcm, of course he is there but he is not doing anything. Yet I get paid smth like 20 grand a year and him just shy of 200k a year. I still have a long way to go though, I'm only 24.
A wise man once said, work smarter, not harder.If you have skills / connections in an area where demand for either outstrips supply, you'll make money if you want to.
If you have skills / connections in an area where supply outstrips demand, you'll always be pegged back to the cheapest someone else is prepared to work for, no matter how many hours you work.
To be fair it's pretty obvious and nothing to do with fairness or who deserves what IMO.
If you are in the motor trade or, in my case, close to friends/acquaintances who are, you can motor much more cheaply and will become part of a helpful network. We are talking small, established independents here. Agreed there is no such thing as a free lunch but this scenario prevents you and yours from exploitation.
Hungrymc said:
Do you ever see a situation where your finances are good (savings and investments are all where you want them) so you would put 100k into a car? It's a tough balance, but there surely is a balance somewhere where you have enough / sufficient elsewhere and will allow yourself a special car?
I only raise it as it's my way of thinking. Once (if) I get through a few thresholds on investments and savings, I will allow myself something special - I don't think it has to be either / or unless more wealth will always be no1 objective above anything else (no nice cars, nice meals, nice holidays?)
I suppose, but im nowhere near that point yet and I would have to change my mindset a little in order to put that sort of money into sonething that depreciates rather than appreciates.I only raise it as it's my way of thinking. Once (if) I get through a few thresholds on investments and savings, I will allow myself something special - I don't think it has to be either / or unless more wealth will always be no1 objective above anything else (no nice cars, nice meals, nice holidays?)
Gassing Station | General Gassing | Top of Page | What's New | My Stuff