should i keep my car, upgrade, or downgrade?
Discussion
Been thinking about this for at least a month now. Im saving to buy a house circa 180k, on a salary of just over 30k. Currently 16k deposit increasing by £13-1500 per month. But i can't decide what to do about my car situation.
currently have a 8p3 a3 1.8T worth maybe 9k. Good car, reliable, but due for some maintenance (cam, water pump, tyres) and also a blowing noise from the exhaust now. So minimum £500 needs to be spent on it, and then i would be tempted to change a few things like getting a remap just to satisfy my urge for car related things, and this would soon add up.
option 1) buy an 8p3 s3 of similar age and mileage. Get the extra performance, a better colour (tired of black now) and all the things that are kind of missing from my a3. Would be satisfied with this car for some time. Going to cost at least 6k to change though which is a fair bit, and would set my house saving back a few months. Would then modify a few bits on this car as and when i could afford it after buying house.
option 2) buy a 330ci clubsport for about 4.5k, pocket the difference, and spend whatever on maintenance (hopefully not too much) this would give me something different to drive for a while and a few grand to my deposit. It's not the car i want to be driving in the long term though, so would look to upgrade once the house is bought. It seems tricky to upgrade when paying a mortgage though - unless you take out a large amount of finance and end up paying way more for the car than i would have in option 1.
Hope that makes some sort of sense. I dont need to move out in a hurry, infact once buying my house i intend to just sort of gradually furnish it while living mostly at home. Im just concerned that house prices are going to creep away from me soon as it all seems to be picking up quite fast.
currently have a 8p3 a3 1.8T worth maybe 9k. Good car, reliable, but due for some maintenance (cam, water pump, tyres) and also a blowing noise from the exhaust now. So minimum £500 needs to be spent on it, and then i would be tempted to change a few things like getting a remap just to satisfy my urge for car related things, and this would soon add up.
option 1) buy an 8p3 s3 of similar age and mileage. Get the extra performance, a better colour (tired of black now) and all the things that are kind of missing from my a3. Would be satisfied with this car for some time. Going to cost at least 6k to change though which is a fair bit, and would set my house saving back a few months. Would then modify a few bits on this car as and when i could afford it after buying house.
option 2) buy a 330ci clubsport for about 4.5k, pocket the difference, and spend whatever on maintenance (hopefully not too much) this would give me something different to drive for a while and a few grand to my deposit. It's not the car i want to be driving in the long term though, so would look to upgrade once the house is bought. It seems tricky to upgrade when paying a mortgage though - unless you take out a large amount of finance and end up paying way more for the car than i would have in option 1.
Hope that makes some sort of sense. I dont need to move out in a hurry, infact once buying my house i intend to just sort of gradually furnish it while living mostly at home. Im just concerned that house prices are going to creep away from me soon as it all seems to be picking up quite fast.
Buy a reliable shed for a couple of grand, save up as long as you can and then get the house. Prices are going up and interest rates will follow in 2015 so you do have some breathing room. I'd save for another 6 months if possible and then go for it.
Your car comes second to your savings.
Your car comes second to your savings.
Yes i could also downgrade all the way to a ford puma or something. But then i dont go out drinking or smoke or anything, so i'm not sure i should give up my interests to get a house. I have considered this option but i kind of revert back to my point that if i have no equity in a car already, then to buy something for over 10k is basically impossible once i own the house. I dont want to be driving a shed for 2-3 years as cars are part of my enjoyment in life.
sting3r70 said:
I dont want to be driving a shed for 2-3 years as cars are part of my enjoyment in life.
It's really about where in the continuum you want the compromise to be. After all, your own house will be a very big part of your life as well, and possibly also a source of (a different kind of) enjoyment.I sold my VXR8 to move house, and I now drive a cheap(ish) Polo GTi, which wasn't an easy decision.
It's really, really hard work as I love my cars, and the Polo is painfully dull. But it's a sacrifice worth making because I've saved a boatload in running costs which have gone toward the house.
And in another 6months time and I've finished buying the boring things, I'll have a garage and can start shopping for something decent again.
So trust me, do the cheapo banger thing, sort the house and in 12 months time, I guarantee you'll be glad you did.
Yes i suppose the sensible option is to put every penny into a deposit in order to get the interest rate down as far as possible, thus saving say £100/month mortgage which will then go in the car fund once the purchase is made. It's difficult to play the sensible game though.
Of course i could also buy a cheaper house. I could get a terrace in a nice area for 150k and be much better off, and still have that s3...but i would have to park it in an allocated space instead of my own driveway. Im hoping to be able to afford a 3 bed semi in a good area, but i have no real need for that extra room.
Of course i could also buy a cheaper house. I could get a terrace in a nice area for 150k and be much better off, and still have that s3...but i would have to park it in an allocated space instead of my own driveway. Im hoping to be able to afford a 3 bed semi in a good area, but i have no real need for that extra room.
Your position was like mine < 2 years ago and I now have my first home. I'd get a car that will see you right for a couple of years into home owning life.
I had a VX220 that I've had to sell as it didn't fit with single living and being my only car. I sold it and now finding it tricky to decide on a car as I'm wanting to spend thousands getting everything exactly how I want it. Pistonhead life will have to take a back seat for a couple of years and run arounds don't interest me. However if I bought the car I wanted last year it would have just delayed house buying for a few months.
I had a VX220 that I've had to sell as it didn't fit with single living and being my only car. I sold it and now finding it tricky to decide on a car as I'm wanting to spend thousands getting everything exactly how I want it. Pistonhead life will have to take a back seat for a couple of years and run arounds don't interest me. However if I bought the car I wanted last year it would have just delayed house buying for a few months.
Trif said:
However if I bought the car I wanted last year it would have just delayed house buying for a few months.
Yes this is what im getting at. A few months wait this end, potentially a few years the other. But downgrading and banking 7k vs upgrading at a cost of 6k thats 13k i could have had on the deposit, which is massive.sting3r70 said:
Yes this is what im getting at. A few months wait this end, potentially a few years the other. But downgrading and banking 7k vs upgrading at a cost of 6k thats 13k i could have had on the deposit, which is massive.
It sounds like you aren't particularly bothered about the A3, too- see it as an opportunity to try something cheap, basic and fun. Being a PHer can be difficult. Should you buy a top spec Audi and live in a shed or buy a £2k shed and live in a proper house?
I am a PH and I know which I would do. I bought a house early as possible and I am still not driving want I really want. But my motoring aspirations always outstrip my wallet....
There is a lot of motoring fun around £2k, as I have tasted over the last few years since becoming a Dad. Fatherhood is an even bigger drain on resources.
Mike
I am a PH and I know which I would do. I bought a house early as possible and I am still not driving want I really want. But my motoring aspirations always outstrip my wallet....
There is a lot of motoring fun around £2k, as I have tasted over the last few years since becoming a Dad. Fatherhood is an even bigger drain on resources.
Mike
Ved said:
"It's difficult to play the sensible game though."
Explain a bit more?
A car is instant gratification. Driving a crap car so i can buy a house and be better off in a few years seems dull and doesnt do much for me in the present moment. At least if i had the car before spending every penny on a mortgage, then its still there to enjoy. It just means waiting longer for the house and getting shafted by the price rise.Explain a bit more?
Sell the Audi. Bank 8k.
Get the house ASAP, prices rising faster than the 1500 you are saving, well in most places anyway.
Pay 1000 deposit & 100 a month to drive a Skoda Citigo for 3 years with free servicing/60 mpg
Forget cars for 3 years and get the house sorted out!
Get the house ASAP, prices rising faster than the 1500 you are saving, well in most places anyway.
Pay 1000 deposit & 100 a month to drive a Skoda Citigo for 3 years with free servicing/60 mpg
Forget cars for 3 years and get the house sorted out!
Edited by anonymous-user on Sunday 24th November 22:07
You've managed to save a lot of money which is superb and you should be very chuffed to have done so but do the best thing with it and put it all on the house. I know how you feel but you honestly need to get over the idea that your car represents you because it doesn't.
A house is the best thing you can do and a cheap car does not need to be a s
t one. Mine are cheap and st they are not 
Nobody gives a toss what car you drive so honestly you will be making a mistake if you compromise your first home for a depreciating asset you'll be bored of too soon.
I did the same myself when I lost my job and had to downgrade the house and the car..
I didn't have much money for a car and bought an old Audi for £281 off the bay... And that was 3/4 years ago
It's been the most reliable car I've owned and the added bonus is that you don't have to worry about cleaning it or where you park.
The only thing I worry about is the ipod and the sat nav in the glovebox are worth more than the motor lol.
If you buy wisely and get something galvanised from the 90s you also never have to worry about the rust bug.
I didn't have much money for a car and bought an old Audi for £281 off the bay... And that was 3/4 years ago
It's been the most reliable car I've owned and the added bonus is that you don't have to worry about cleaning it or where you park.
The only thing I worry about is the ipod and the sat nav in the glovebox are worth more than the motor lol.
If you buy wisely and get something galvanised from the 90s you also never have to worry about the rust bug.
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