absolutely stupid idea
Discussion
OK - my flat is up for sale and am expecting an offer this weekend. I have found a suitable pad to move on to with a garage 
no that I am remortgaging I have been looked at rates and they are quite incredible - 3.99 5 year fixed etc. So the cost of spending another £70k on a place is actually very little more a month.
so do I bung another £25k on the mortgage and buy a Tuscan?!!!!!
no that I am remortgaging I have been looked at rates and they are quite incredible - 3.99 5 year fixed etc. So the cost of spending another £70k on a place is actually very little more a month.
so do I bung another £25k on the mortgage and buy a Tuscan?!!!!!
if you can afford it do it if you cant do it anyway
Just been through a hedge backwards, A.K.A. re-mortgaging and come out the other side now. Have access to a considerable sum of money now which is pretty much burning a hole in everything! However, got to the situation where I know own all three cars! Nice, never been there before and quite happy for it to remain like that for the foreseeable future.
Nice idea, but my recommendation would be to keep the money in the mortgage for the next few months at least. Look at the end of the year and take it from there - probably not a good idea to lower the equity you have at the moment (possible down turn in house prices etc).... there are plenty Tuscans around and who knows, at the end of the year there should be a few T350's kicking around...
Cheers,
Paul
Nice idea, but my recommendation would be to keep the money in the mortgage for the next few months at least. Look at the end of the year and take it from there - probably not a good idea to lower the equity you have at the moment (possible down turn in house prices etc).... there are plenty Tuscans around and who knows, at the end of the year there should be a few T350's kicking around...
Cheers,
Paul
Go for it m8!
Any down turn in the house market won't hit hard for another 1/2 years. You might not get another opportunity, the cars are awesome, TVR people are a friendly bunch...what more do you want!!
Clearly you need to be sensible about your finances but you can still be sensible and get a TVR...just a matter of how new!
Alan.
Any down turn in the house market won't hit hard for another 1/2 years. You might not get another opportunity, the cars are awesome, TVR people are a friendly bunch...what more do you want!!
Clearly you need to be sensible about your finances but you can still be sensible and get a TVR...just a matter of how new!
Alan.
[unwelcomenoteofreality]
What happens if you can't afford the repayments (either through job difficulties or at the end of the fixed rate period-and be assured rates will rise), and you're in negative equity, and the Tiv is not in a saleable condition (not a negative TVR comment-it happens)? Don't know what you're thinking of taking out but>90% value of property is deeply unwise whatever the state of the market
[/unwelcomenoteofreality]
What happens if you can't afford the repayments (either through job difficulties or at the end of the fixed rate period-and be assured rates will rise), and you're in negative equity, and the Tiv is not in a saleable condition (not a negative TVR comment-it happens)? Don't know what you're thinking of taking out but>90% value of property is deeply unwise whatever the state of the market
[/unwelcomenoteofreality]
pbrettle said: Just been through a hedge backwards, A.K.A. re-mortgaging and come out the other side now. Have access to a considerable sum of money now which is pretty much burning a hole in everything! However, got to the situation where I know own all three cars! Nice, never been there before and quite happy for it to remain like that for the foreseeable future.
Nice idea, but my recommendation would be to keep the money in the mortgage for the next few months at least. Look at the end of the year and take it from there - probably not a good idea to lower the equity you have at the moment (possible down turn in house prices etc).... there are plenty Tuscans around and who knows, at the end of the year there should be a few T350's kicking around...
Cheers,
Paul
there are some v good points in this and I am leaning this way. Keep the current TVR for high days and holidays, boring tin top for work commute and then think about it again after 6 - 12 mths of adjusting to the new mortgage payments and see what interest rates and house prices do in the interim.
I always think that if you buy relatively sensibly, you will always have some equity in a car. Its not as if you're putting 25K on a bet. Whats the worse scenario?, things go T*ts up so you sell the car. Look at it this way, if things ended up that bad, selling the car really wouldn't be that big an issue.
I mean, look at me - I sold my house and now live in my Ferrari 288 GTO. Its a bit cramped but Hey, its fast !
Go for it Shnozz: You do only live once.
I mean, look at me - I sold my house and now live in my Ferrari 288 GTO. Its a bit cramped but Hey, its fast !
Go for it Shnozz: You do only live once.
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