Can I afford to run these cars?
Discussion
Hi all,
New to the forums here and I wondered if you could help me before I make a big decision that might cost me my sanity and my kidneys.
I am looking to get a nice luxury car and I wondered if my intentions to do so are sensible/grounded in reality.
I have roughly have around £1.5k a month spending money. No mortgage etc. I've been thinking of buying a car on finance or a loan (Whatever is best) and I've been eyeing up the following cars to buy second hand:
1. Maserati Granturismo
2. Audi R8
3. Bentley Continental
These cars seem to be on sale at a second hand price of £38k-40k which to me is a bargain considering how much car you are getting for that money. The Maserati appears to have relatively low maintenance costs; service every 2 years but a bit expensive in terms of tyres etc. Similarly, the R8 seems doesn't appear to have astonishing running costs either.Bentley Continental's seem to go for very cheap as well but >50k miles
Obviously, the primary thing is, I am looking to get the cheapest entry level versions of these cars and there is a risk of them going wrong (I will definitely get a professional vehicle inspection done on all cars I view). I viewed a Maserati Granturismo already and it seemed really solid and in great condition which gave me confidence in finding a good quality car for that price range. Obviously these cars will be older hence the depreciation.
So as far as I see it, I'm looking at around £650-700 a month on finance. Maybe save up £5k-10k to pay a bigger lump sum up front?
Is it sensible? I really dont want to settle for a run of the mill car. What should I look out for? How much am I realistically looking to spend?
I know there's a lot of guess work involved. I did want to get a GTR but from what I hear, it has extremely high running/hidden costs.
Any thoughts are appreciated! Thank you!
New to the forums here and I wondered if you could help me before I make a big decision that might cost me my sanity and my kidneys.
I am looking to get a nice luxury car and I wondered if my intentions to do so are sensible/grounded in reality.
I have roughly have around £1.5k a month spending money. No mortgage etc. I've been thinking of buying a car on finance or a loan (Whatever is best) and I've been eyeing up the following cars to buy second hand:
1. Maserati Granturismo
2. Audi R8
3. Bentley Continental
These cars seem to be on sale at a second hand price of £38k-40k which to me is a bargain considering how much car you are getting for that money. The Maserati appears to have relatively low maintenance costs; service every 2 years but a bit expensive in terms of tyres etc. Similarly, the R8 seems doesn't appear to have astonishing running costs either.Bentley Continental's seem to go for very cheap as well but >50k miles
Obviously, the primary thing is, I am looking to get the cheapest entry level versions of these cars and there is a risk of them going wrong (I will definitely get a professional vehicle inspection done on all cars I view). I viewed a Maserati Granturismo already and it seemed really solid and in great condition which gave me confidence in finding a good quality car for that price range. Obviously these cars will be older hence the depreciation.
So as far as I see it, I'm looking at around £650-700 a month on finance. Maybe save up £5k-10k to pay a bigger lump sum up front?
Is it sensible? I really dont want to settle for a run of the mill car. What should I look out for? How much am I realistically looking to spend?
I know there's a lot of guess work involved. I did want to get a GTR but from what I hear, it has extremely high running/hidden costs.
Any thoughts are appreciated! Thank you!
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
£1.5k per month spending money can barely cover the cost of a fiesta? To clarify, £1.5k isn't what I earn a month. This is money available less outgoings, that I can spend on the car
ayman82 said:
Wait 4 years and buy it outright? Then spend £1.5k a month on repairs?
£1.5k a month on repairs for these cars? Surely that is really excessive?austinsmirk said:
They still won't get you laid, if you're not getting it now.
ph, where the truth hurts.
ph, where the truth hurts.
LOL! That's not the intention behind the purchase. I have a gf. lesstatt said:
How about a DB7, a few for around 20-25k, save the rest for repairs, the cost of which will be huge if anything goes wrong. A 911 (996) is probably a more realistic option, carrera modela for around 20k and reasonable reliability
Not a fan of the DB7's look to be honest. Yeah I did think about a 911, but hear that their maintenance costs are really high apparently. I haven't driven one though so its something I have definitely considered. Might be worth driving to see how much I enjoy the ride. The Maserati Granturismo apparently has very low maintenance costs for what it is. Every two years you're looking at about £2k servicing? Chews through tyres though.
boobles said:
If you have to ask then no.
Yeah its walking a thin line I guess but it doesn't seem completely out of the realms of possibility or overly silly. Alex_225 said:
If the maths works out mate, then do it.
The only thing I wouldn't do is a lease as I wouldn't like to be spending money per month for something that I wouldn't own at the end. But if I was paying something off at £1-1.5k a month, I'd definitely be buying a dream car of some sort.
Yeah leasing doesn’t appeal to me for precisely the same reason. I would rather get a loan or get the car on finance.The only thing I wouldn't do is a lease as I wouldn't like to be spending money per month for something that I wouldn't own at the end. But if I was paying something off at £1-1.5k a month, I'd definitely be buying a dream car of some sort.
X5TUU said:
Yes that budget will allow, I ran an R8 on £1200 a month including finance costs with no issues ... Out of them I would go for the Conti
Well the dealer I visited re: the Maserati who did a credit check came up with a figure of £650 a month on finance. I thought that was REALLY reasonable seeing as I don’t have many outgoings (elucidated below).My insurance quotes for these cars are SUPER cheap for what these cars are imo- max £750 odd for the year, fully comp. I have 8+ years of no claims
Guvernator said:
We need to know a bit more about your circumstances.
1) Is that £1.5k per month purely budget set aside for a car or is that your total income? Do you have other outgoings that might eat into that money?
2) How old are you?
3) Single, married, children?
3) What other cars have you had experience of i.e. will this be your first performance car or have you had others.
4) How mechanically minded are you? Will you be able to do some bits yourself or at least self diagnose or will you pay someone else lots of money to do it when it needs fixing or servicing?
Only you can really decided if you can afford one but the answers to the above might give some pointers.
As an example if you are a 21 year old living at home, have zero mechanical knowledge and you are upgrading from a Fiesta, it might not be the most sensible idea even if you think you can afford one.
1) I earn £42k a year (before taxes)1) Is that £1.5k per month purely budget set aside for a car or is that your total income? Do you have other outgoings that might eat into that money?
2) How old are you?
3) Single, married, children?
3) What other cars have you had experience of i.e. will this be your first performance car or have you had others.
4) How mechanically minded are you? Will you be able to do some bits yourself or at least self diagnose or will you pay someone else lots of money to do it when it needs fixing or servicing?
Only you can really decided if you can afford one but the answers to the above might give some pointers.
As an example if you are a 21 year old living at home, have zero mechanical knowledge and you are upgrading from a Fiesta, it might not be the most sensible idea even if you think you can afford one.
2) Turning 31 soon
3) I currently drive a 2.5L BMW E46
4) Not very mechanically minded and therefore, unable to work on the car myself. I have acquaintances that are more so than me and can possibly help with diagnosing problems but not someone who can work on the cars unfortunately
_Neal_ said:
I think you can safely ignore the post above.
If it's £1.5k/month free and clear of any other outgoings i.e. just a car loan repayment/maintenance budget of £18k a year, I say get a personal loan (i.e. not tied to the car) do your research on running costs, buy something that shouldn't depreciate too much, and go for it.
Run it for a year then keep it if you like it and it's not killing your wallet, sell it and either replace it or repay the loan (with perhaps a small top-up for depreciation) if you don't.
Doesn't seem like walking a fine line to me - you're allowing c.£9k/year on insurance/maintenance, which would cover the vast majority of exotic/prestige stuff. Aston V8 Vantages start at about £30k, which seems strong value for the prestige/driving experience...
Edited by _Neal_ on Thursday 28th July 15:58
Edited by _Neal_ on Thursday 28th July 16:01
The £1.5k a month isn’t available PURELY for the car. I would say I have £1k a month to spend on the car (finance/loan payments/petrol/maintenance etc). Finance on the Maserati was working out to be £650 odd. Could be reduced if the length was increased in years. Plus I could always sell the car no?
VladD said:
OP, I bought a BMW 750i a few years ago for £8k. It cost £13k in maintenance and repairs over 18 months. Fortunately for me, most of it was covered by warranty and insurance. Obviously I was particularly unlucky, but it's just an idea of what could happen with a luxury car. As long as you're prepared for the potential big bills, then it may be worth the risk.
Ouch! What warranty did you get out of interest? It wasn’t the official BMW warranty was it?Guvernator said:
Not sure where you are getting your info from but a 911 is probably one of the cheapest junior supercars to run, unless you are unlucky and have an engine failure of course but for £40k you would be in 997 gen 2 territory where the engine issues where sorted. The R8 might be similar costs. I'd reckon on a Maserati or Conti GT costing you more to run than those two though.
The other cost to factor in which is sometimes overlooked and probably the most important one is depreciation. How long do you plan to keep this car for? A badly depreciating car could loose you £10k over a couple of years and make any running cost concerns look silly in comparison.
To be honest, the idea that the costs of Porsche ownership were high was based on hearsay (my friend really). I usually tend to keep my cars for 5 years and I imagine cars such as this, I’d do the same. The other cost to factor in which is sometimes overlooked and probably the most important one is depreciation. How long do you plan to keep this car for? A badly depreciating car could loose you £10k over a couple of years and make any running cost concerns look silly in comparison.
As bad as it sounds, depreciation doesn’t bother me that much. I mean, say for instance the R8 is driven for 5 years and doesn’t have any major issues/damage/accidents, then I cant see it being sold for as low as £20k.
I really need to read up on Porsches and their various models. I admittedly oblivious about them and the different variants but some look really nice and others look really plain for the price.
_Neal_ said:
Absolutely, so buy carefully - also hedging your bets by paying off the capital on a monthly basis (which you will be doing, as any loan should be fairly low interest) and putting some cash in as well (i.e. not funding the whole price by way of loan) will mitigate against that.
If I had to guess I'd say if you're paying off £600/month in terms of capital, and put a couple of grand in up front, you should stay in "positive equity" against any car on your list.
If I had to guess I'd say if you're paying off £600/month in terms of capital, and put a couple of grand in up front, you should stay in "positive equity" against any car on your list.
That’s precisely the plan; £600/month plus £2k (or a little bit more if necessary). I could always sell the car if it gets a bit unmanageable.
abarber said:
Get a cheap load / CC and a nice Mk2 XK8 for 17k. Less brash and more class. They make a lovely muted noise too.
Or watch out for a crazy lease deal, like those insanely cheap S8s.
Ah I’m not a fan of the XK8 to be honest. The S8 is too conservative looking for what I’m looking for, fi that makes sense. I do take your point about the subtle and more classy look though.Or watch out for a crazy lease deal, like those insanely cheap S8s.
matrignano said:
I comfortably ran my Aston V8 Vantage on less than £1,200 a month, that's including £30k of finance, insurance, 1 annual service & MOT , tax, 5k miles worth of petrol, and 1 set of tyres & brakes every other year.
The £300 left over every month would likely cover most unplanned repair costs.
Sorry, to get clarity, that’s £1200 a month purely reserved for the car right?The £300 left over every month would likely cover most unplanned repair costs.
Dalto123 said:
Very good points here. Another consideration is a first gen 997 with a rebuild engine. These do usually come with a warranty (be it by Porsche, or the other company that did the work - Hartech appears to be a popular company for this). Value wise, I think this gen 911 are doing quite well considering early ones must be about 12 years old now.
I can only speculate, but perhaps ones with rebuilt engines won't depreciate as much as original cars - or maybe even appreciate a little in value?
Either way, I think you're getting a lot of car for £25k here http://www.pistonheads.com/classifieds/used-cars/p...
See, the Cayenne there looks a bit plain looking? Should I be worried about the 70k miles there? Are any big services due on the Cayenne at that point?I can only speculate, but perhaps ones with rebuilt engines won't depreciate as much as original cars - or maybe even appreciate a little in value?
Either way, I think you're getting a lot of car for £25k here http://www.pistonheads.com/classifieds/used-cars/p...
Jasandjules said:
What about a DB9 Volante? Get it checked out and also get a warranty on it......
I checked some out and they really do look gorgeous. http://www.pistonheads.com/classifieds/used-cars/a...
This looks stunning for the price although I wouldn’t get the convertible.
AMGJocky said:
If you want one of those cars bad enough, then do it. If it comes back to bite you in the arse somehow, sell the car and move on.
Yeah that’s what I was thinking. I’m ready to make some losses. Would early repayment charges apply on car finance? I assume on a loan they will. lesstatt said:
How about a SLK55 AMG, or an XKR Jag, should be very reliable indeed and won't lose too much in depreciation
I just checked the price of SLK55 AMG and the SLC’s and I’m really surprised by the cost of them. I expected them to be much higher. Obviously the SLC is better but you’re getting a lot of car for that money! But living in London, it just doesn’t have that wow factor. So many of them being driven it kinda dilutes the appeal of it to me (vain I know). But I did see a SLK55 in white last week and thought it looked great.
Jim AK said:
Ranchitup said:
Not a fan of the DB7's look to be honest.
Really?Should you even be driving? I think your eyesight may be faulty!!
Blanchimont said:
Spending £1500 a month on a car payment is all well and great, but what would you do if something were to break? Lets take the Maser as an example. I can't imagine a new exhaust is cheap (be it aftermarket or standard), nor is servicing, nor will insurance, nor fuel etc.
During months when the tax, MOT, insurance and service is due you'll still have to pay out x amount a month on the car payment.
If the payment is say, £1000. Can you spare £3-500 a month to put aside for any work that needs doing then great, do it. But if not, then I would be looking to either bump up my deposit massively, until it gets to a point where you can, or looking at other options.
Rather than going "right I have £1500 a month spare, lets spend it all on a car payment" (not saying you have) sit down and have a think. Find out how much a big service at a main dealer is, find out how much insurance is, find out how much tax is etc, how much you would be spending in fuel etc.. and work from that. No point having a glorious car sat on the drive doing nothing, because you can't afford to put fuel in it.
Yeah I have a lot of ground work to do. I don’t want to start resenting the car that I own because of the herculean task I have owning it. I need to have some degree of comfort and fun owning one.During months when the tax, MOT, insurance and service is due you'll still have to pay out x amount a month on the car payment.
If the payment is say, £1000. Can you spare £3-500 a month to put aside for any work that needs doing then great, do it. But if not, then I would be looking to either bump up my deposit massively, until it gets to a point where you can, or looking at other options.
Rather than going "right I have £1500 a month spare, lets spend it all on a car payment" (not saying you have) sit down and have a think. Find out how much a big service at a main dealer is, find out how much insurance is, find out how much tax is etc, how much you would be spending in fuel etc.. and work from that. No point having a glorious car sat on the drive doing nothing, because you can't afford to put fuel in it.
steve-5snwi said:
Having driven all 3 I would pick the Maserati, I've seen the invoices for repairs on the r8 and Maserati and they were not cheap. You might pay more but a main dealer might give you a better warranty than something aftermarket and if you only intend to keep the car for a short time the risks should be minimal.
However I would rather a v8 Aston or a jaguar, f/xk or possibly xfr. I didn't like the r8 but ours was a v8 with the rtronic, the Maserati was the 4.7 and would be a great gt car but with firm seats. You could possibly look towards a f type v6 and have the benefit of a manufactures warranty although they are not in quite the same league I would pick one over the r8 any day.
Oh cool. How did you find Maserati ownership? What kind of annual costs were you facing? I really like the Maserati but with the Sport bumpers, it looks so different. However I would rather a v8 Aston or a jaguar, f/xk or possibly xfr. I didn't like the r8 but ours was a v8 with the rtronic, the Maserati was the 4.7 and would be a great gt car but with firm seats. You could possibly look towards a f type v6 and have the benefit of a manufactures warranty although they are not in quite the same league I would pick one over the r8 any day.
The ftype starts at £50k doesn’t it? It looks great but im priced out it seems.
VladD said:
I'm not sure what the warranty on the 750 was OP, sorry. The small dealer I bought the car from supplied it. I was very surprised when it actually paid out.
Ah no worries. Yeah warranty would be something I would definitely consider getting. Roughly, how much would warranty on cars such as the ones I suggest cost per year? About a grand a year no? CYMR0 said:
Effectively you're asking whether to put half your disposable income into car finance, then take on the running costs out of the other half.
It's probably possible if you really, really hate pubs, clothes, holiday, and your pension and really, really like Tesco Value Pot Noodles.
In your situation I would either lease whatever I could get for £300 a month (and even that is more than you need to spend) or try to get a £20k car with as much cash as you could save up in a year for a deposit. While an S4/BMW x35i coupe/Golf R etc. won't compare with a junior supercar like you're suggesting, you'll actually have a life outside your garage.
(Of course, if you did manage to buy the right car and prices go up over the next five years, you'd be kicking yourself if you didn't do it. But to run a car like that with very little in liquid assets would be an absolute nightmare - think of all those skint girls who live for their ponies, and ask if you really want to live like them).
This is what I want to avoid. Being so constrained that I cant enjoy life outside car ownership. With roughly a grand to spend a month on myself, that wouldn’t be so bad but yeah, I’ve gotten quite used to splashing the cash in other ways so would have to make adjustments. It's probably possible if you really, really hate pubs, clothes, holiday, and your pension and really, really like Tesco Value Pot Noodles.
In your situation I would either lease whatever I could get for £300 a month (and even that is more than you need to spend) or try to get a £20k car with as much cash as you could save up in a year for a deposit. While an S4/BMW x35i coupe/Golf R etc. won't compare with a junior supercar like you're suggesting, you'll actually have a life outside your garage.
(Of course, if you did manage to buy the right car and prices go up over the next five years, you'd be kicking yourself if you didn't do it. But to run a car like that with very little in liquid assets would be an absolute nightmare - think of all those skint girls who live for their ponies, and ask if you really want to live like them).
MOBB said:
Might not be the kind of car you are interested in, but brand new BMW M6's can be had for around £800 a month on PCP, 0% interest
positives - 3 year warranty, your own spec, modern tech, no interest charges, crazy quick, service plans are cheap
negatives - depreciation, not "exotic"
The depreciation can be horrific, especially if you sell after a short time, but is offset by no interest charges and huge discounts
Ah thanks for this. Didn’t know anything about PCP finance prior to reading this. The M6 isn’t a car that appeals to me though. The lack of ‘exotic’ factor is what kills it for me.positives - 3 year warranty, your own spec, modern tech, no interest charges, crazy quick, service plans are cheap
negatives - depreciation, not "exotic"
The depreciation can be horrific, especially if you sell after a short time, but is offset by no interest charges and huge discounts
Crumpet said:
A couple of friends with similar cars (Aston Martins - AMV8 and a DB9) say their running costs are £6000 pretty much consistently each year. That includes fuel and insurance but not depreciation and finance. So finance might cost you a couple of grand a year and depreciation will come down to what you buy, but call it £4000 a year and your total might come to about £1000 a month.
You could do it, whether it's sensible or not is another matter but plenty of people lose five or six grand a year in depreciation on very mundane everyday cars - at least you're after something special!
Edit: you could probably run one of the modern TVRs (T350, Tuscan) for significantly less than your budget. Depreciation is non-existent and running costs are sensible. Maybe not quite as exotic as a Maserati but it will turn more heads, if that's your thing!
Pretty high running costs if not including finance. Depreciation isn’t a factor that bothers me that much.You could do it, whether it's sensible or not is another matter but plenty of people lose five or six grand a year in depreciation on very mundane everyday cars - at least you're after something special!
Edit: you could probably run one of the modern TVRs (T350, Tuscan) for significantly less than your budget. Depreciation is non-existent and running costs are sensible. Maybe not quite as exotic as a Maserati but it will turn more heads, if that's your thing!
Edited by Crumpet on Thursday 28th July 17:05
The TVR’s aren’t the most reliable cars in the world I hear. They do look nice but not something I am after.
matrignano said:
Errr, it's £1,200 a month for all the things I've listed above
Ah okay my bad. Thanks ?williamp said:
M3? M5? Covette? XK or XKR?? Ooooh, the list is soooo long.
Would love a Corvette but priced out on those! XK/XKR naah. Same for M3/M5Guvernator said:
To be honest I'd agree with the above, £40k on a car with those earnings will probably be a bit of a push IMO. If it breaks you'll struggle to pay to fix it and begrudge the car, if other unexpected bills\outgoings come up you'll struggle and begrudge the car. If you end up in a situation where you are struggling financially because of the car you will start to resent it and it WILL sour the ownership experience.
Perhaps it might be better to set your sights a bit lower. You can get an unsecured loan for anything up to £25k for very reasonable interest rates these days and pay it back early with no penalties which gives you a lot of flexibility. Chuck in a few K of your own money if you wish, you'll still get a very nice car for that sort of budget without breaking the bank.
Yeah maybe I have to do that ? I really want to enjoy the experience of owning the cars I listed. Having those cars at my age would be a dream come true but yeah, if I end up begrudging it, then that would be horrible. Perhaps it might be better to set your sights a bit lower. You can get an unsecured loan for anything up to £25k for very reasonable interest rates these days and pay it back early with no penalties which gives you a lot of flexibility. Chuck in a few K of your own money if you wish, you'll still get a very nice car for that sort of budget without breaking the bank.
The SLK55, a Porsche or something similar would be great I guess. The thing is, I’ve been so excited, for the longest time, imagining owning these cars so its kinda disheartening. But hey, better to be disheartened than burnt by it all. Plus my gf has expensive tastes so its prob for the best.
SuperchargedVR6 said:
Ah OK, thanks for clearing that up. We need a troll list for less frequent visitors I didn't notice the low post count either, tsk. It's late in the day.
I did initially think £42K PA, 30 years old and R8/Bentley/Maserati smelled a bit fishy!
Hehe I’m not lying believe me. Im being honest but yeah, it looks like owning those might be out of the running ? But aaah, imagine driving that at age 30. I so want to do it! I really don’t want the regrets. I didn't notice the low post count either, tsk. It's late in the day.I did initially think £42K PA, 30 years old and R8/Bentley/Maserati smelled a bit fishy!
R8Steve said:
He's not talking about the OP!
On another note though, i had the R8 at that age and made a bit less than that at the time and found it entirely manageable.
Ah please elaborate! Maybe there is hope for me yet?!On another note though, i had the R8 at that age and made a bit less than that at the time and found it entirely manageable.
ZX10R NIN said:
OP go for it if you can afford it, expect a four figure bill every now & then, apart from that just get ready for some smiles for miles.
I want to! I’m so torn now. Some of the more sombre posts hit home- apart from the one regarding the Fiesta lmao. Im new to the forum and that was one of the first posts. I was thinking…wtf have I joined?!NordicCrankShaft said:
The Porsche 996/MX5 w
kfest that seems to occupy 2nd spot in pretty much every what car thread is becoming increasingly predictable and boring. Bore off fan boys.
No offence to anyone liking those cars but they aren’t to my liking (especially the MX5) and they are REALLY common in London. I want something that stands out and is luxury/exotic. kfest that seems to occupy 2nd spot in pretty much every what car thread is becoming increasingly predictable and boring. Bore off fan boys.StottyEvo said:
I wouldn't say that GTRs have high running costs, they can do if you destroy a set of tyres every 6months but that's down to you and how you drive the car.
For a 40k car I'd be looking to put down 20k and £600/month for 3years. If you're worried about a big bill I'd also look to buy from a dealer, you'll be a little extra but it should give at least some piece of mind.
I'm in agreement, the R8s seem cheap at that price, I can't see them devaluing at all. Providing you treat the car well, don't put too many miles on etc it could be a decent way to build savings and enjoy a fantastic car at the same time.
What do you think the costs of GTR ownership are like? I wouldnt be ripping the tyres to shreds at all. I love the liberty walk GTR (although the costs of that is too much)For a 40k car I'd be looking to put down 20k and £600/month for 3years. If you're worried about a big bill I'd also look to buy from a dealer, you'll be a little extra but it should give at least some piece of mind.
I'm in agreement, the R8s seem cheap at that price, I can't see them devaluing at all. Providing you treat the car well, don't put too many miles on etc it could be a decent way to build savings and enjoy a fantastic car at the same time.
Saving up £20k in a year or so will be a task for sure. If I had that kinda saving I would DEFFO go for R8 ownership. But reading the comments here, I think one thing I’m DEFINITELY doing is savingup as much as possible to minimise the loan/finance. I don’t want to be living on crisps for the next 5 or so years!
- I haven't done any work today but really, thank you guys for the comments. It honestly is helping me out a lot in making an informed decision.
Edited by Ranchitup on Thursday 28th July 18:08
Hey guys,
Thank you so much for the replies. They have been EXTREMELY useful and I am taking everything said on board (minus the chap who thinks the Fiesta is a massive undertaking).
I’ve been thinking long and hard about this (didn’t get any work done yesterday!) and felt a bit down on the way home that the dream might be shattered at this stage.
To answer a few questions (sorry I’m not directly quoting people- it takes ages and I’m not used to this forum), I don’t own a home but that is not an issue because of a specific set of circumstances to me. I do take your concerns on board re:mortgages etc
Yeah I don’t want my purchase to have such a drastic impact on my lifestyle as some have stated
LOL! That's not the intention behind the purchase. I have a gf. Then technically you have zero spare money after bills.Haha this is probably the truest statement ever.
But you make a good point about compromising on other things. I don’t go all flashy but I do like to dress smart and go on holidays. The thing is, I’ve been on quite a few already and am going on others soon but I am trying to get them out of my system so to speak. Owning a nice car is something I’ve really wanted.
[btw I REALLY want to quote and reply to all of you but time doesn’t permit it]
The reason why I want these cars:
• For the longest time I could not afford nice cars. I have been a car fan for ages, particularly modified cars (I don’t know what the general attitude on PH is to these cars but did spot a thread on why does PH hate modified cars). Not utter monstrositites with massive bits of plastic hanging off them btw (subjective though I know). But for the first time ever in my life, the prospect of owning a nice car, let alone an exotic car is actually real so naturally, I'm beyond excited about being in such a situation and don't want to let that go.
• Its not just luxury/exotic cars I want. YES, the whole baller thing is a big part of me picking those cars but if they drive like crap then I won’t buy them- performance is important to me
• Owning these cars at my age would be great. I really do think I might have regrets ion the future when its not so viable OR it is viable but I’m in my 50-60’s and the wow factor has significantly diminished (for me).
I have been looking into Porsche 997’s and in standard form they look too plain. I know that if I did manage to get one for say £20k I would be STRONGLY compelled to get a Liberty Walk kit or something of the sort to make it look like this:
http://www.the-lowdown.com/wp-content/uploads/2015...
Or closer to the GT model if you know what I mean.
I know it sounds like I’m just wanting to get attention for the cars that I’ve listed, and yes, to a great degree, this is true. Its just that, for YEARS when I used to dream about owning cars like 350z’s, Supras, Porsche’s etc they were so unattainable and all of a sudden my salary has hiked up and I want to get a really nice exotic car. Something different from the beemer and mercs that littler the roads in London. If I did get something like them then it would be something like this:
https://streetstandard.com/wp-content/uploads/2015...
(Yes I love LW).
I don’t want to sound like a cock and I don’t think there’s anything necessarily wrong with wanting to own an exotic car for the reactions it will illicit. I just feel this immense time pressure that if I don’t own one now it’ll be too late to enjoy it. And yet, at the same time, I am really worried that it all becomes so ridiculously unmanageable that I will hate the car/my decision to buy it etc.
You guys have given me a lot to think about (and a lot of cars to consider!) I need to test drive the R8 and the Porsche 997.
Maybe I should just move to somewhere like Dubai where my salary is probably 3 times what is now for my profession and tax free
Thank you so much for the replies. They have been EXTREMELY useful and I am taking everything said on board (minus the chap who thinks the Fiesta is a massive undertaking).
I’ve been thinking long and hard about this (didn’t get any work done yesterday!) and felt a bit down on the way home that the dream might be shattered at this stage.
To answer a few questions (sorry I’m not directly quoting people- it takes ages and I’m not used to this forum), I don’t own a home but that is not an issue because of a specific set of circumstances to me. I do take your concerns on board re:mortgages etc
Yeah I don’t want my purchase to have such a drastic impact on my lifestyle as some have stated
Sam. said:
Ranchitup said:
LOL! That's not the intention behind the purchase. I have a gf. Hungrymc said:
OP, Two schools of thought.....
1) No risk, it's all about your fiscal security in your 90s.... Else you're a moron
2) You could be dead in a week, so do what you want now and sort the future in the future....Else you're a moron.
Of course these polarized perspectives both have merit and you have to make you're own decisions about financial planning and how much you're prepared to risk or lose on what is, I assume, a major interest of yours.
I don't think the question is really 'can you afford these cars?' But I think the answer to that is yes, but not with a huge amount of safety net.... I think the question is 'will the occasional £5k bill ruin the pleasure in owning one?'
<SNIP>
Great post and yeah, the occasional £5k bill would kinda sully the driving experience! Depends on how occasional it is!1) No risk, it's all about your fiscal security in your 90s.... Else you're a moron
2) You could be dead in a week, so do what you want now and sort the future in the future....Else you're a moron.
Of course these polarized perspectives both have merit and you have to make you're own decisions about financial planning and how much you're prepared to risk or lose on what is, I assume, a major interest of yours.
I don't think the question is really 'can you afford these cars?' But I think the answer to that is yes, but not with a huge amount of safety net.... I think the question is 'will the occasional £5k bill ruin the pleasure in owning one?'
<SNIP>
jamieduff1981 said:
OP - you probably could afford the cars.
I'm going to suggest you don't though. Although £42k/year is a salary many would love to have, it's still not great to be honest. You could roll around in an exotic car, but since you dismissed one or two suggestions for being too conservative, it sounds as though you want a bit of flash.
I'm going to suggest you'll look a bit of a prat pulling in to the work's car park in a Bentley earning a fairly modest £42k/year. Flash works well when you have a enough money that when you want a nice photograph of your Bentley, you don't need to drive it out of your own property to get it. Your clothes and food choices should also be fairly good quality. I don't mean that you need a Saville Row suit to drive a Bentley, but your T.M. Lewin suit should be fking tailored to fit you properly rather than one from Marks & Spencer.
That all might sound a bit prattish - it's not meant to. What I'm trying to tell you is that the vast majority will not be impressed by someone who has clearly compromised in most areas to drive an exotic car around. You're not wealthy. You may be in the future, but you're not wealthy yet.
You can have something unusual without trying to look flash. People can at least respect that you have an expensive hobby, but seriously, cruising London in a Bentley trying to look like Billy Bigballs on £42k/year is not where you want to be.
I mean, the envy the car generates isn’t a big concern to me, aside from haters possibly damaging my car. Heck, if they did that to my current car, regardless of what it is, would get me riled up. I take your point on board though but this kind of thing wouldn’t affect me as far as I am aware.I'm going to suggest you don't though. Although £42k/year is a salary many would love to have, it's still not great to be honest. You could roll around in an exotic car, but since you dismissed one or two suggestions for being too conservative, it sounds as though you want a bit of flash.
I'm going to suggest you'll look a bit of a prat pulling in to the work's car park in a Bentley earning a fairly modest £42k/year. Flash works well when you have a enough money that when you want a nice photograph of your Bentley, you don't need to drive it out of your own property to get it. Your clothes and food choices should also be fairly good quality. I don't mean that you need a Saville Row suit to drive a Bentley, but your T.M. Lewin suit should be f
king tailored to fit you properly rather than one from Marks & Spencer.That all might sound a bit prattish - it's not meant to. What I'm trying to tell you is that the vast majority will not be impressed by someone who has clearly compromised in most areas to drive an exotic car around. You're not wealthy. You may be in the future, but you're not wealthy yet.
You can have something unusual without trying to look flash. People can at least respect that you have an expensive hobby, but seriously, cruising London in a Bentley trying to look like Billy Bigballs on £42k/year is not where you want to be.
But you make a good point about compromising on other things. I don’t go all flashy but I do like to dress smart and go on holidays. The thing is, I’ve been on quite a few already and am going on others soon but I am trying to get them out of my system so to speak. Owning a nice car is something I’ve really wanted.
[btw I REALLY want to quote and reply to all of you but time doesn’t permit it]
R8Steve said:
A valid point, but it also demonstrated that monthly costs, in my experience anyway, amount to approx £200 per month.
Lets say OP financed one at £40k with a 5k deposit - £35k over 5 years is approx £680 per month.
Put the two together and you are still under 1k a month and at the end of it you're still going to get at the very least (IMO) half of your money back.
You could argue whether this is sensible to do, that's for the OP to decide but facts are that it is easily affordable with his budget.
An R8 is basically an RS4 in a nice dress and i doubt if the OP would have got quite as hard a time if he had been considering buying one of them.
This is PRECISELY what my thought of the situation was. Ultimately, that still gives me £1k to play with and take out the mortgage stuff out of the equation then it doesn’t seem that bad. Heck, the car is still an asset that I can sell later on. Lets say OP financed one at £40k with a 5k deposit - £35k over 5 years is approx £680 per month.
Put the two together and you are still under 1k a month and at the end of it you're still going to get at the very least (IMO) half of your money back.
You could argue whether this is sensible to do, that's for the OP to decide but facts are that it is easily affordable with his budget.
An R8 is basically an RS4 in a nice dress and i doubt if the OP would have got quite as hard a time if he had been considering buying one of them.
The reason why I want these cars:
• For the longest time I could not afford nice cars. I have been a car fan for ages, particularly modified cars (I don’t know what the general attitude on PH is to these cars but did spot a thread on why does PH hate modified cars). Not utter monstrositites with massive bits of plastic hanging off them btw (subjective though I know). But for the first time ever in my life, the prospect of owning a nice car, let alone an exotic car is actually real so naturally, I'm beyond excited about being in such a situation and don't want to let that go.
• Its not just luxury/exotic cars I want. YES, the whole baller thing is a big part of me picking those cars but if they drive like crap then I won’t buy them- performance is important to me
• Owning these cars at my age would be great. I really do think I might have regrets ion the future when its not so viable OR it is viable but I’m in my 50-60’s and the wow factor has significantly diminished (for me).
I have been looking into Porsche 997’s and in standard form they look too plain. I know that if I did manage to get one for say £20k I would be STRONGLY compelled to get a Liberty Walk kit or something of the sort to make it look like this:
http://www.the-lowdown.com/wp-content/uploads/2015...
Or closer to the GT model if you know what I mean.
I know it sounds like I’m just wanting to get attention for the cars that I’ve listed, and yes, to a great degree, this is true. Its just that, for YEARS when I used to dream about owning cars like 350z’s, Supras, Porsche’s etc they were so unattainable and all of a sudden my salary has hiked up and I want to get a really nice exotic car. Something different from the beemer and mercs that littler the roads in London. If I did get something like them then it would be something like this:
https://streetstandard.com/wp-content/uploads/2015...
(Yes I love LW).
I don’t want to sound like a cock and I don’t think there’s anything necessarily wrong with wanting to own an exotic car for the reactions it will illicit. I just feel this immense time pressure that if I don’t own one now it’ll be too late to enjoy it. And yet, at the same time, I am really worried that it all becomes so ridiculously unmanageable that I will hate the car/my decision to buy it etc.
You guys have given me a lot to think about (and a lot of cars to consider!) I need to test drive the R8 and the Porsche 997.
Maybe I should just move to somewhere like Dubai where my salary is probably 3 times what is now for my profession and tax free
Shnozz said:
OP - not meaning to add to the antagonistic posters or those who argue you need to maximise your pension fund etc first but, genuine Q.
If this has been your dream for so long, and your living expenses are so minimal, how come you haven't made big inroads in savings (or equity in an existing motor) to follow said dream? You envisage having £1500 throw away money and, unless your circumstances have changed massively only recently, one would think you would have had that historically to build more than a £3k deposit.
30 something sensible head person thinking here says why not "test run" potential ownership costs of an R8 or whatever by throwing £1500 a month into the bank for 6 months, building up another £9k to put down on the car, and take advantage of winter price drops on sports cars to boot.
Hey. Yeah my situation changed drastically only last year where I finally qualified and landed my job. My pay shot up by about 300%!If this has been your dream for so long, and your living expenses are so minimal, how come you haven't made big inroads in savings (or equity in an existing motor) to follow said dream? You envisage having £1500 throw away money and, unless your circumstances have changed massively only recently, one would think you would have had that historically to build more than a £3k deposit.
30 something sensible head person thinking here says why not "test run" potential ownership costs of an R8 or whatever by throwing £1500 a month into the bank for 6 months, building up another £9k to put down on the car, and take advantage of winter price drops on sports cars to boot.
Also, since then I’ve been going on loads of holidays to finally do things that I was deprived of for so long so the car took a back seat for a year or so. Now I’m in a position to invest but have one expensive holiday in September. I do wish I had saved enough for the winter price drop though.
RWD cossie wil said:
Some dealers must be laughing all the way to the bank with some of the figures quoted come service time?!
Do people seriously still take their cars to main dealers for basic work like brakes, tyres, oil changes etc? No wonder you are getting 6k service bills!!!!!
I run 3 cars, a heavily tuned 911 turbo, a supercharged E46 M3 & the daily 535d.... Running all three costs less than £1500 a year for all of the basics (insurance, tax,MOT), Fuel isn't an issue as you can only drive one car at a time, plus tyre wear etc is spread across the three cars... I probably do 4-5k a year in each "fun" car, and 8-10k in the 535d.
The only big bills I have had have been choice spends for tuning work, or improving the cars with bigger brakes etc, if you have half a clue about maintenance then you can get jobs done by specialists for very reasonable amounts, plus you get a much higher quality of work from decent independent traders than you do from any main stealer!
OP, £1500 a month will get you pretty much any car you want, however your main problem seems to be lack of deposit, personally I wouldn't really want to finance much more than 50% of the car, as you are looking at a serious chunk of cash going out every month, any major expenses & it will wipe you out..
Find a car in the 20-25k bracket that is fast, fun, interesting enough not to depreciate & not stupid upkeep costs. You could comfortably run lots of amazing cars, plus be able to chuck 1k a month into a savings fund that will give you a great slush fund for repairs/running costs, and if you don't use it then you have saved 24k in two years & you have a supercar pot ready to go
What kinda car do you recommend for £20-25k? How much did your 911 turbo cost if you dont mind me asking? Got any pics? Do people seriously still take their cars to main dealers for basic work like brakes, tyres, oil changes etc? No wonder you are getting 6k service bills!!!!!
I run 3 cars, a heavily tuned 911 turbo, a supercharged E46 M3 & the daily 535d.... Running all three costs less than £1500 a year for all of the basics (insurance, tax,MOT), Fuel isn't an issue as you can only drive one car at a time, plus tyre wear etc is spread across the three cars... I probably do 4-5k a year in each "fun" car, and 8-10k in the 535d.
The only big bills I have had have been choice spends for tuning work, or improving the cars with bigger brakes etc, if you have half a clue about maintenance then you can get jobs done by specialists for very reasonable amounts, plus you get a much higher quality of work from decent independent traders than you do from any main stealer!
OP, £1500 a month will get you pretty much any car you want, however your main problem seems to be lack of deposit, personally I wouldn't really want to finance much more than 50% of the car, as you are looking at a serious chunk of cash going out every month, any major expenses & it will wipe you out..
Find a car in the 20-25k bracket that is fast, fun, interesting enough not to depreciate & not stupid upkeep costs. You could comfortably run lots of amazing cars, plus be able to chuck 1k a month into a savings fund that will give you a great slush fund for repairs/running costs, and if you don't use it then you have saved 24k in two years & you have a supercar pot ready to go
phib said:
Having reflected on this if it was me I would buy something uncomplicated first with cheapish bills ( Elise, TVR etc) , see how you get on with it and then buy what you want.
Phib
Yeah I'm deffo reconsidering something more sensible. But it has to stand out!Phib
Shnozz said:
They have niggles. But then you have included a Maserati on your maybe baby list too.
Find one with a rebuild (and ideally with transferable warranty) and cross your fingers.
The Maserati Granturismo apparently is quite reliable; only going to the garage every two years for services. It APPARENTLY has improved a lot from its predecessors.Find one with a rebuild (and ideally with transferable warranty) and cross your fingers.
phib said:
The oldest ( cheapest 4.2) will be 7/8 years old now, as with anything 7/8 years old you will run into brakes, wheels, bushes etc etc basically all the things that perish or are consumables. This would be the same with any car of this age.
So how about a mini Ferrari .... ( the one on the left !!)
photo uploader
Or if you want to be noticed
image upload no compression
Phib
Phb what is that car? Elise S3? Would look really good in white. Dunno if the gf would find it comfortable mind you.Prices are coming up to Maserati GT money. Maintenance on this is much cheaper I assume?So how about a mini Ferrari .... ( the one on the left !!)
photo uploaderOr if you want to be noticed
image upload no compressionPhib
Edited by Ranchitup on Friday 29th July 16:50
phib said:
The red one is an elise S2 and the green one is a lotus elise s cup ( based on the s2 I think) (decent elise s2 is something like £15-25K) mine is a basic 1.8 Toyota one with air con and not much else, will happily run rings around the Ferrari's in real world driving, not a bad place to start but very different from Bentley, I have a GTC as well.
My elise is pretty comfortable once your in, I use it more than all the others
http://www.pistonheads.com/classifieds/used-cars/l...
or a bit cheaper in orange !!
http://www.pistonheads.com/classifieds/used-cars/l...
Phib
The second link is the same as the first. These seem really decent though with aircon and heated seats. I really need to test drive this, the porsche and the R8My elise is pretty comfortable once your in, I use it more than all the others
http://www.pistonheads.com/classifieds/used-cars/l...
or a bit cheaper in orange !!
http://www.pistonheads.com/classifieds/used-cars/l...
Phib
Edited by phib on Friday 29th July 16:53
Hungrymc said:
I've just sold a 996 C4S. Not a perfect comparison but to give an idea... Using a good independent (I think you said earlier that you wouldn't be doing much yourself). I found that one year I'd have maintenance and service costs of circa £1000 and the next might be £4000, then back to £1000 again. This doesn't include insurance etc - purely the cash I spent with my local independent. Nothing major went wrong but I did replace clutch, several radiators / condensers, have a diff rebuilt, replace discs, loads of back tyres etc. I had the car 6 years and really enjoyed it. 997s will also be on a service every 2nd year.
Do a bit of research on the reliability questions over these engines (996 and Gen1 997 - Gen2 cars are more expensive 35K+) and have your eyes wide open. I know loads of people who have ran these cars with no issue, but there is clearly a slightly elevated risk of needing a major rebuild than on some other cars - its a case of either ensure you've a good warranty, keep a war chest and be prepared to use it, or be happy enough with the risk and deal with it if it happens.... They are fabulous cars.
Ah thanks for this. So guidance figure of say £1k a year which isn't so bad on maintenance. Yeah I don't have the necessary know -how to fiddle with the car myself at all. Do a bit of research on the reliability questions over these engines (996 and Gen1 997 - Gen2 cars are more expensive 35K+) and have your eyes wide open. I know loads of people who have ran these cars with no issue, but there is clearly a slightly elevated risk of needing a major rebuild than on some other cars - its a case of either ensure you've a good warranty, keep a war chest and be prepared to use it, or be happy enough with the risk and deal with it if it happens.... They are fabulous cars.
I will deffo do more research now. Looking at 997's and they look really nice. Need to test drive one soonish!
The Moose said:
I've not read the whole thread but what are you planning on using the car for?
There isn't too much space in the R8 (there's not a huge amount of room for you and the misses to go away for a long weekend). Obviously the Continental GT has oodles of "practicality" in that way. The 997 is also pretty good (with the rear seats folded down, it's amazing how much you can fit in a 911). What about a Cayman/Boxster (depending on your preference for cabriolet or otherwise)?
Mostly for social use really. Maybe commute to work once a week, if that. I won't be doing long weekend drives etc. I don't really like the Cayman/Boxter look tbh. There isn't too much space in the R8 (there's not a huge amount of room for you and the misses to go away for a long weekend). Obviously the Continental GT has oodles of "practicality" in that way. The 997 is also pretty good (with the rear seats folded down, it's amazing how much you can fit in a 911). What about a Cayman/Boxster (depending on your preference for cabriolet or otherwise)?
Hungrymc said:
You're right leins. OP, I'd use £2.5K as a reasonable annual maintenance figure. You could only run the car for 18 months and never do a service or change a tyre, or you could be unlucky and get a bad year. Four tyres, brakes and a clutch will do £3k but I don't think this would be any better in the other cars you're considering. An engine rebuild is going to be £10K - £12K and this probably is a higher risk with a 996 or gen1 997, but that's another topic and we shouldn't let it derail this thread. I also know many (including me) who have had no issues, and you see plenty of 120,000 mile cars.
In summary, you can minimise your risk...Buy a 911 that's just serviced and on new tyres and brakes, buy a 2 year warranty (not cheap) - and sell again in 18 months before next service... I've never been brave enough to buy a car on the assumption I'll be back out of it before a bill comes in. I took the war chest approach with my 911 - I budgeted in the possible rebuild and was delighted after 6 years to have not had to spend it.
All these cars, particularly when they are a few years old, have a knack of costing more than you anticipate - just try to make sure that if these costs do start to appear that you can cope, AND that it wont take away the pleasure that you hope to get from the car.
I’m really oblivious at the moment to Porsche ownership struggles but have noticed people talking about rebuilds a lot. It gives me horrible thoughts of the RX7 and its engine woes. Is this something I really need to factor into when buying a 997? £10-12k on an engine rebuild would make me shed all kinds of tears! I would definitely get warranty to cover that but in my informed head, warranty is around £1k for a year?In summary, you can minimise your risk...Buy a 911 that's just serviced and on new tyres and brakes, buy a 2 year warranty (not cheap) - and sell again in 18 months before next service... I've never been brave enough to buy a car on the assumption I'll be back out of it before a bill comes in. I took the war chest approach with my 911 - I budgeted in the possible rebuild and was delighted after 6 years to have not had to spend it.
All these cars, particularly when they are a few years old, have a knack of costing more than you anticipate - just try to make sure that if these costs do start to appear that you can cope, AND that it wont take away the pleasure that you hope to get from the car.
Just obtained an insurance quote for a 997 and its £782 a year with £750 excess. Funnily enough, it’s a bit higher than the Maserati (and way higher than a brand new Mustang). R8 insurance is similar too.
996TT02 said:
Apologies did not read all the thread so may be off somewhat.
You will not get away with paying just 1K p.a. in maintenance on a 996 unless you are extremely lucky.
Mine - with relatively low mileage, 60-something k - has spent more time having things done than being driven.
Just sorted out gearbox bearing (Over 1k in parts alone), then as soon as I took it away, within the first tankful of fuel, diff gave up. Diff being sorted, noted that one engine mount failed, so just bought a pair of those too. Neverending saga, all I seem to be doing is fixing this car up, and it was a nice example when purchased (previous owner had just spent 3.5k, too...)
Damn- the maintenance costs on these are quite high then as I thought. Being lucky to spend £1k MINIMUM every year, whilst not a massive problem, does speak volumes regarding this car. I can’t imagine the R8 having significantly higher maintenance costs?You will not get away with paying just 1K p.a. in maintenance on a 996 unless you are extremely lucky.
Mine - with relatively low mileage, 60-something k - has spent more time having things done than being driven.
Just sorted out gearbox bearing (Over 1k in parts alone), then as soon as I took it away, within the first tankful of fuel, diff gave up. Diff being sorted, noted that one engine mount failed, so just bought a pair of those too. Neverending saga, all I seem to be doing is fixing this car up, and it was a nice example when purchased (previous owner had just spent 3.5k, too...)
R8Steve said:
Reading that i'd say you were rather unlucky.
I ran a 996 Turbo for 2 years with just routine servicing/maintenance required.
I guess it all boils down to luck then? I’ll obviously be going for more higher mileage cars so the chances of things going wrong are significantly higher. Steve, as you have owned both the R8 and a Porsche; do you really think there’s a massive difference in overall maintenance costs?I ran a 996 Turbo for 2 years with just routine servicing/maintenance required.
I mean, my heart is set on the R8 over the Porsche no doubt but if I am spending £3k a year on the Porsche on maintenance (not including warranty/fuel etc) then the lower monthly cost on paying off finance would be negated. Paying £650 a month for a R8 but having to outlay say £1-2k a year isn’t so bad for the car I’m getting in comparison.
Saw an R8 today and my heart sank 
Joey Ramone said:
I would encourage the OP to purchase an R8 forthwith for two reasons
1) If he purchases his dream car and has a blissful experience then not only will I feel happy for him, but I may be encouraged to do the same
2) If his finances implode and he ends up living in a cardboard box under a bridge hiding from Albanian money lenders I shall cackle mercilessly, lit by the glow of my schadenfreude.
Win-win as far as I'm concerned.
LMAO! It will honestly end up one of those two ways. I will definitely keep you guys updated on my woes. Well time to go on those holidays before I end up moving into my new box under the bridge. 1) If he purchases his dream car and has a blissful experience then not only will I feel happy for him, but I may be encouraged to do the same
2) If his finances implode and he ends up living in a cardboard box under a bridge hiding from Albanian money lenders I shall cackle mercilessly, lit by the glow of my schadenfreude.
Win-win as far as I'm concerned.
_Neal_ said:
Quite. I'm sure boobles will confirm he bought all his cars without any research or queries, to avoid rendering himself unable to afford them.
Anyway, back on topic, some good advice for the OP on this thread about real-world running costs, need for a war chest etc etc. 911s looking like a good option, but probably because they're on my list of "cars to own"!
Reading through again, OP, I think set your sights a little lower in terms of overall cost, use a personal loan rather than finance linked to the car, buy carefully (taking residuals into account) and be prepared to get shot of it if the costs get silly and/or the amount you're spending is ruining your enjoyment of the car or stopping you doing the things you want to do.
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!Anyway, back on topic, some good advice for the OP on this thread about real-world running costs, need for a war chest etc etc. 911s looking like a good option, but probably because they're on my list of "cars to own"!
Reading through again, OP, I think set your sights a little lower in terms of overall cost, use a personal loan rather than finance linked to the car, buy carefully (taking residuals into account) and be prepared to get shot of it if the costs get silly and/or the amount you're spending is ruining your enjoyment of the car or stopping you doing the things you want to do.
_Neal_ said:
Keep us posted OP.
I know it's not what you're really after, but I'd have a very good look at this old Porsche if I was in a position to spend £15-20k on a car at the moment. Hartech lifetime maintenance, condition looks very tidy.
Ah thank you for the link to Hartech's maintenance plan. That is really useful and something I would definitely get for peace of mind. The monthly costs are really reasonable too!I know it's not what you're really after, but I'd have a very good look at this old Porsche if I was in a position to spend £15-20k on a car at the moment. Hartech lifetime maintenance, condition looks very tidy.
edit- ah just noticed that their non-Hartech prices are higher. Still decent though
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