£25,000. Buy a car or Btl

[gregs1959]

In a dilemma. Would like to buy a nice car. Do I spend £25,000 on one or do I put it down on a BTL.

Lots of properties around for £75,000. Rental income say £450.00 month. Repayments I expect are less than £200.00.

Leaves minimum £250.00 surplus. £50.00 month for tax man. £200.00 to finance a car.

How does that sound ????

Mark.

[gregs1959]

Your right however experience tells me that tenants certainly in
my houses are usually long term.

I don't pay agents fees as I manage them all my self.

[gregs1959]

Doofus said:

It seems this thread was started by somebody posting rubbish, and after he ran away, it was picked up by somebody else posting rubbish.

Nope didn't run away , I'm just curious how people see things. Unfortunately I'm old school, brought up on a council estate, started an apprenticeship at 16 and worked bloody hard for many years.

Was fortunate enough to get into purchasing property 20 years ago. Even took the odd bank loan out for deposits. Then used the banks money to self finance further purchases to 20+.

Only have 2 BTL and 6 on capital and repayment. Rest all paid for, and I'm fortunate enough to be semi retired and pay someone to manage and repair although I do have my finger on what's going on.

As for pensions I lost confidence in those years ago when after paying £200.00 month in, at the end of the year they had made nearly nothing. So went into property. Now have a small pension of ....... wait for it £145.00 per month ....

My trouble is ....... and I know u can't take it with u is I find it hard to spend extravagantly having worked hard and learnt the value of money. I have quite a large amount of savings but see this as a comfort thing if that makes sense. Could quite easily go out and buy a new super car but ...... I just cant.

Silly I know but there u go. I