"My Garage"

Author
Discussion

Mario149

7,750 posts

177 months

Wednesday 27th August 2014
quotequote all
bertie said:
It always amuses me, people get hung up in "running costs" but frankly depreciation makes them pale into insignificance, yet seems to get ignored!

Depreciation is by far and away the biggest cost on any relatively new car.

On my 458 spider for instance, over the the first 3 years I reckon it'll cost about £30k a year at least, far more than service, any repairs, fuel, insurance or anything else.
Not all of us run new(ish) cars!

bertie

8,545 posts

283 months

Wednesday 27th August 2014
quotequote all
Mario149 said:
Not all of us run new(ish) cars!
But surely unless you'd got a fair income and were sure you wouldn't notice it, you wouldn't be even thinking of fripperies like any super car?

Do people really really run their finances that tight?

purpleperil

1,212 posts

283 months

Thursday 28th August 2014
quotequote all
bertie said:
But surely unless you'd got a fair income and were sure you wouldn't notice it, you wouldn't be even thinking of fripperies like any super car?

Do people really really run their finances that tight?
I'm with you on this one - especially on the depreciation score. Similar to asking if said supercar will fit in your garage - Suppose it's down to priorities but I've always put house first (with big garage) then car wink

Gusto

Original Poster:

606 posts

232 months

Thursday 28th August 2014
quotequote all
purpleperil said:
I'm with you on this one - especially on the depreciation score. Similar to asking if said supercar will fit in your garage - Suppose it's down to priorities but I've always put house first (with big garage) then car wink
Everyone has different priorities. I bought a house and built the garage i wanted smile

bertie

8,545 posts

283 months

Thursday 28th August 2014
quotequote all
Gusto said:
Everyone has different priorities. I bought a house and built the garage i wanted smile
Sure, I think the point is, if a surprise £4k bill is going to cause you trouble, I wouldn't be thinking about supercars.

Personally, I would call them fripperies so I'd get house sorted, mortgage paid off....etc before thinking about them.

Mario149

7,750 posts

177 months

Thursday 28th August 2014
quotequote all
bertie said:
Mario149 said:
Not all of us run new(ish) cars!
But surely unless you'd got a fair income and were sure you wouldn't notice it, you wouldn't be even thinking of fripperies like any super car?

Do people really really run their finances that tight?
My fleet includes 3 fripperies....and it is precisely because they are fripperies that I like to monitor costs smile Given that they are clearly non essential items I want to make sure that I'm not "wasting" too much money (whatever I decide too much is hehe ) and getting what I consider value for my expenditure. It seems the least I can do is to know what money I'm spunking away given that so many people even in our developed country struggle to make ends meet. Cheesey I know, but it kinda makes me feel better. I also monitor my costs as a "PH member service" if you will. There are a lot of people who dream of owning some of the cars us more fortunates are able to and genuinely need to know what costs they can expect as they might be trying to achieve their dream on a tighter budget. When people post running post questions and others reply back saying an entirely unrealistic number (my current favourite is £1k to £1.5k per year average for a F355 that moves more than a few miles) because they're just guessing tends to mislead people. I like to be a somewhat brutal antidote to that to make sure that people go in with their eyes open and know what they're getting into so that they don't overstretch themselves and buy a car that they can't enjoy worry free.

Legacywr

12,016 posts

187 months

Thursday 28th August 2014
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I bought my house just because it had good garaging. I'm not at all house proud, the value of my vehicles is actually roughly the same as my house, a bit unusual, I guess! smile

sone

4,585 posts

237 months

Thursday 28th August 2014
quotequote all
bertie said:
Gusto said:
Everyone has different priorities. I bought a house and built the garage i wanted smile
Sure, I think the point is, if a surprise £4k bill is going to cause you trouble, I wouldn't be thinking about supercars.

Personally, I would call them fripperies so I'd get house sorted, mortgage paid off....etc before thinking about them.
Hmm in real terms your better of with a mortgage than finance on you cars but each to their own, You're a long time dead!

bertie

8,545 posts

283 months

Thursday 28th August 2014
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sone said:
Hmm in real terms your better of with a mortgage than finance on you cars but each to their own, You're a long time dead!
Absolutely, I would rather a mortgage than finance, but I wouldn't consider a supercar until there was neither!


RevHappy

1,836 posts

161 months

Thursday 28th August 2014
quotequote all
bertie said:
Absolutely, I would rather a mortgage than finance, but I wouldn't consider a supercar until there was neither!
If everyone waited to do that then the time to enjoy them would be reduced by some what. biggrin

bertie

8,545 posts

283 months

Thursday 28th August 2014
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RevHappy said:
If everyone waited to do that then the time to enjoy them would be reduced by some what. biggrin
I think it's a generation thing, my generation ( in 40s) tend to save up then spend.

The younger generations have been brought up on finance so seem to buy now pay (more) later.

sone

4,585 posts

237 months

Thursday 28th August 2014
quotequote all
bertie said:
RevHappy said:
If everyone waited to do that then the time to enjoy them would be reduced by some what. biggrin
I think it's a generation thing, my generation ( in 40s) tend to save up then spend.

The younger generations have been brought up on finance so seem to buy now pay (more) later.
I must be an exception to the rule I don't mind a mortgage and finance wouldn't worry me as long as I've got plenty of equity I can very comfortably afford it and a plan B if it all go's tits up.
I believe a large percentage of supercars are bought on finance. I fact I'd bet the vast majority of new cars are bought the same way. As long as you appreciate financing is very expensive and you can afford it what's the harm.
As I say whatever you feel comfortable with!

RevHappy

1,836 posts

161 months

Thursday 28th August 2014
quotequote all
bertie said:
I think it's a generation thing, my generation ( in 40s) tend to save up then spend.

The younger generations have been brought up on finance so seem to buy now pay (more) later.
I think it's also about timing and life choices. Lots of stereotypes aren't playing out anymore.

Pork

9,453 posts

233 months

Thursday 28th August 2014
quotequote all
bertie said:
But surely unless you'd got a fair income and were sure you wouldn't notice it, you wouldn't be even thinking of fripperies like any super car?

Do people really really run their finances that tight?
You'd think not but when a newspaper article says that more than half of British home owners with a mortgage are concerned about the impact on their finances of a rise in interest rates and expect to pay an extra £590 a year in repayments, it suggests rather a lot of people are already close to the wire.

Seriously, £11 a week puts the fear into people? At 0.5% IRs, there are evidently a lot of very overstretched people around.

FalconWood

1,356 posts

196 months

Thursday 28th August 2014
quotequote all
Gusto said:
Just a question really - I was looking today to see if anyone puts in cost of ownership/running costs on any of the number of great cars owned by members. It seems the answer is no. I know I only did one - the others no one would care about i'm sure - and it's arguably just a big TT with A3 interior, but, how come some of you that have proper exotica don't put the details in?

(Should have done a poll but...)

Is it because you don't want people to know?
Is it because it's hard to tell because of finance to take into account?
Is it because you can't be bothered and just want to think about what's next?
Is it something else?

Sorry if this is a boring thread - my first start I think, but I was just ineterested today while day dreaming of another toy.

Thanks for reading and for replying if you do.

Gusto
I have always kept all the costs (both historical as far I could from previous owners) and the costs I have incurred. I just find it interesting and sadly enjoy doing it!

FalconWood

1,356 posts

196 months

Thursday 28th August 2014
quotequote all
Pork said:
bertie said:
But surely unless you'd got a fair income and were sure you wouldn't notice it, you wouldn't be even thinking of fripperies like any super car?

Do people really really run their finances that tight?
You'd think not but when a newspaper article says that more than half of British home owners with a mortgage are concerned about the impact on their finances of a rise in interest rates and expect to pay an extra £590 a year in repayments, it suggests rather a lot of people are already close to the wire.

Seriously, £11 a week puts the fear into people? At 0.5% IRs, there are evidently a lot of very overstretched people around.
I do mine out of interest not because I run "my finances so tight". When you see what I spend on some old cars you might think aim mad to even bother!! smile

bertie

8,545 posts

283 months

Thursday 28th August 2014
quotequote all
FalconWood said:
I do mine out of interest not because I run "my finances so tight". When you see what I spend on some old cars you might think aim mad to even bother!! smile
Fair play, you're a braver man than I, If I had your garage with 4 Ferraris, 3 Porsces and an Aston it'd scare the crap out of me!,

Gusto

Original Poster:

606 posts

232 months

Friday 29th August 2014
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FalconWood said:
I do mine out of interest not because I run "my finances so tight". When you see what I spend on some old cars you might think aim mad to even bother!! smile
Fantastic garage and well written reports/Blogs. I am glad I'm not the only one who finds this stuff interesting.