saving for a car, how do you do it?
Discussion
"I don't see the point in paying a decent sum of money on a car, cost of car+insurance etc and having trouble with it as the miles rack up."
Hehe, you'd better find a different passion then! Lol.
owning nice cars generally equates somewhere down the line pissing money against the wall.
Hehe, you'd better find a different passion then! Lol.
owning nice cars generally equates somewhere down the line pissing money against the wall.
swiftpete said:
The magic envelope approach worked for me. I just saved the money in cash in an envelope. The more cash in there, the closer I felt I was getting and the more I put in there. If you really set your mind to it you can save up pretty quickly and it didn't take that long. I am only talking about £3500 cash though, not 20 odd grand.
This is working for me at the moment.Every time I would have bought some fags, I bung a tenner in there. Got £120 in a couple of weeks.
I'm a student, too. I've also taken to driving to the pub and having 1 coke which not only means I save money, but that I have much more productive days rather than laying in bed feeling s
t.al1991 said:
Guvna said:
al1991 said:
I'm a student.... I've also taken to driving to the pub and having 1 coke .... rather than laying in bed feeling st.
t.
Call yourself a student
So, yes, I do.
1.Find a sucessful woman and buy a house together.
2.Get a 50% discount on everything you need for as long as you don't impregnate her.
3.Save for a car.
4.Blow you savings on scented candles for the house or a wedding.
5.Get promoted.
6.Save for a car.
7.Blow your savings on children.
8.Get promoted.
9.Save for a car.
10.Get divorced.
11.Lose 70% of everything.
12.Move in with your mum and buy the car of your dreams.
Failing that I would agree with consensus that it's best to play the long game, get a deposit down on a house then get a car. Rent is like flushing hundreds of pounds down the toilet each month.
I personally think finance is quite reasonable if you lower your expectations somewhat and have discipline. You could get £7000 of finance for a relatively small amount and drive the car in the mean time. That would get you into a nutter bd EVO of sorts, or something that is an infinitely better compromise....
2.Get a 50% discount on everything you need for as long as you don't impregnate her.
3.Save for a car.
4.Blow you savings on scented candles for the house or a wedding.
5.Get promoted.
6.Save for a car.
7.Blow your savings on children.
8.Get promoted.
9.Save for a car.
10.Get divorced.
11.Lose 70% of everything.
12.Move in with your mum and buy the car of your dreams.
Failing that I would agree with consensus that it's best to play the long game, get a deposit down on a house then get a car. Rent is like flushing hundreds of pounds down the toilet each month.
I personally think finance is quite reasonable if you lower your expectations somewhat and have discipline. You could get £7000 of finance for a relatively small amount and drive the car in the mean time. That would get you into a nutter b
d EVO of sorts, or something that is an infinitely better compromise....laam999 said:
oh and yes, my living expenses are sweet FA, insurance on a C2 is bugger all, I live at home rent free, free food and no bills, all I have are my phone and car project..... and the girl friend.
That's the idea, live at home as long as possible and save for a deposit as hard as possible (sounds like you are doing).A lot of friends my age are renting and have bugger-all savings because they moved out as soon as possible and lived the good life. I stayed with the parents and saved hard, and so had nearly 50% to put down on a house when the time was right.
I've never really saved for a car, except for one, my Golf GTI Anniversary, I had it in 2007 and I sold it in 2008 to fund home improvements and a Transit van.
All of my cars have been on finance or paid with through a loan of somesort, now this has been fine for me, up until about 6 weeks ago, things had changed at work and suddenly no overtime, with a house to keep and a littleone on the way I had to think and think quickly, so I sold the car I had bought only weeks previously at a £3000 loss, and bought a mk4 Golf GT TDI to tide us over
Two things happened when I bought that Golf, I got it really cheap, and it has effectively written off £1500 of the loss on my other car, the other is I have grown to appreciate that I don't need nor currently want a flash car that I'm paying a fortune for every month.
As the saying goes "cut your cloth according to your means" it's what I've done and I won't look back.
I was fortunate enough to be gifted money to sort this situation out but I will be paying it back over the next year
All of my cars have been on finance or paid with through a loan of somesort, now this has been fine for me, up until about 6 weeks ago, things had changed at work and suddenly no overtime, with a house to keep and a littleone on the way I had to think and think quickly, so I sold the car I had bought only weeks previously at a £3000 loss, and bought a mk4 Golf GT TDI to tide us over
Two things happened when I bought that Golf, I got it really cheap, and it has effectively written off £1500 of the loss on my other car, the other is I have grown to appreciate that I don't need nor currently want a flash car that I'm paying a fortune for every month.
As the saying goes "cut your cloth according to your means" it's what I've done and I won't look back.
I was fortunate enough to be gifted money to sort this situation out but I will be paying it back over the next year
TBH you can have a whole lot of different fun by having your own place or having a very nice car...
Main reason I want my own place ASAP is for the freedom of having mates round or ladyfriends round... You cant do it in the back of a GTR forever! lol
Plus the earlier you get your own place the quicker you are at stepping on teh property ladder instead of paying for someone else mortgage!
Main reason I want my own place ASAP is for the freedom of having mates round or ladyfriends round... You cant do it in the back of a GTR forever! lol
Plus the earlier you get your own place the quicker you are at stepping on teh property ladder instead of paying for someone else mortgage!
doogz said:
Jayho said:
TBH you can have a whole lot of different fun by having your own place or having a very nice car...
Main reason I want my own place ASAP is for the freedom of having mates round or ladyfriends round... You cant do it in the back of a GTR forever! lol
Plus the earlier you get your own place the quicker you are at stepping on teh property ladder instead of paying for someone else mortgage!
This makes no sense. You're talking about living at home, but paying someone elses mortgage?Main reason I want my own place ASAP is for the freedom of having mates round or ladyfriends round... You cant do it in the back of a GTR forever! lol
Plus the earlier you get your own place the quicker you are at stepping on teh property ladder instead of paying for someone else mortgage!
The earlier you get your own place, the less money you're likely to have scraped together as a deposit, therefore the higher interest rate your mortgage is likely to have.
It's all a balancing act.
Move out young, carve an interesting life, dont take debt, live to your means, even if it means sharing with mates or students. Get out there. Dont worry about material things when your young, drive bangers, laugh at the state of them. Find your feet when your ready. It will all come together, trust me.
I can't see that living at home to save money in your late teens/ twenties even thirties these days leads to anyone looking back on there life and thinking " ye, that was a hell of a ride".
I'm no expert, but i grew up with a huge social circle in a tight community, Guys who stayed at home with parents untill they were in there 30's just never seem like well rounded individuals. makes sense really?
I can't see that living at home to save money in your late teens/ twenties even thirties these days leads to anyone looking back on there life and thinking " ye, that was a hell of a ride".
I'm no expert, but i grew up with a huge social circle in a tight community, Guys who stayed at home with parents untill they were in there 30's just never seem like well rounded individuals. makes sense really?
I always had it drummed into me to get out and buy a house asap... which I did. Wish I'd waited really.
Unfortunately, there's always down sides to doing this stuff early on. I'm quite lucky as I have two flats... the only problem is they are now 150miles from where I'm working and so I don't live in either of them! I'm actually back at my parents now...
Great plan to get on the property ladder when your young and all that, but if you fancy seeing a bit of the world and spreading your wings, then its not always sensible to tie yourself down!
Rather than buying another place (and probably ending up abroad next year..!), I'm now spending my money on having fun - which includes cars! Renting my places out which, at the moment, easily covers mortgage payments plus some extra!
I can also honestly say that living with my parents isn't a problem at all for me (I'm 24). They're away most weekend, I'm away most weekdays.. I've got more space here than my two flats combined and the best garage/workshop I could ask for! It works pretty well at the moment
.
Unfortunately, there's always down sides to doing this stuff early on. I'm quite lucky as I have two flats... the only problem is they are now 150miles from where I'm working and so I don't live in either of them! I'm actually back at my parents now...
Great plan to get on the property ladder when your young and all that, but if you fancy seeing a bit of the world and spreading your wings, then its not always sensible to tie yourself down!
Rather than buying another place (and probably ending up abroad next year..!), I'm now spending my money on having fun - which includes cars! Renting my places out which, at the moment, easily covers mortgage payments plus some extra!
I can also honestly say that living with my parents isn't a problem at all for me (I'm 24). They're away most weekend, I'm away most weekdays.. I've got more space here than my two flats combined and the best garage/workshop I could ask for! It works pretty well at the moment
. browna said:
"I don't see the point in paying a decent sum of money on a car, cost of car+insurance etc and having trouble with it as the miles rack up."
Hehe, you'd better find a different passion then! Lol.
I don't fancy paying £2,500 on insurance a year so a decent car will have to wait
owning nice cars generally equates somewhere down the line pissing money against the wall.
Hehe, you'd better find a different passion then! Lol.
I don't fancy paying £2,500 on insurance a year so a decent car will have to wait
owning nice cars generally equates somewhere down the line pissing money against the wall.
For crying out loud don't get a loan whatever you do. Borrow £20k to repay over 10 years and you'll end up paying back £30k because of interest. Loans should be a last resort, and certainly not for luxuries like a flash car. Save up and in 10 years time you'll be driving a far nicer car than if you get a thumping great big loan out now.
I wish I was as easily satisfied as some on here. They know what their dream car is. Are living in their first house and will be happy as larry as soon as the mortgage is paid off. etc etc.
My dream car changes virtually as soon as i've bought it. My house is lovely but I doubt i'll still be here in 5 years (been here 3 so far). I want an additional dirt bike even though I barely get the chance to use the one I've got. And for some strange reason I've suddenly found myself hankering after a boat!
Put these words in the right order. Enemy worst my own I am.
My dream car changes virtually as soon as i've bought it. My house is lovely but I doubt i'll still be here in 5 years (been here 3 so far). I want an additional dirt bike even though I barely get the chance to use the one I've got. And for some strange reason I've suddenly found myself hankering after a boat!
Put these words in the right order. Enemy worst my own I am.
rufusgti said:
I'm no expert, but i grew up with a huge social circle in a tight community, Guys who stayed at home with parents untill they were in there 30's just never seem like well rounded individuals. makes sense really?
I doubt living at home was the causal factor of their personality, more likely it was the reason why they were happy to stay there.Gassing Station | General Gassing | Top of Page | What's New | My Stuff