Cars and their houses...

[J111]

RobM77 said:

When we say cash though, I mean on my debit card, I don't literally mean walking in there with a briefcase full of money

So not, in fact, in cash

It's not quite true that you can't buy with a bag of fivers, you'd be surprised how many people do, but 'High Value Dealers' have to jump through some hoops, with HMR&C, to confirm the identity of their customers before taking more than £10k in cash.

Edited by J111 on Friday 2nd November 09:41

[RobM77]

J111 said:

RobM77 said:

When we say cash though, I mean on my debit card, I don't literally mean walking in there with a briefcase full of money

So not, in fact, in cash

It's not quite true that you can't buy with a bag of fivers, you'd be surprised how many people do, but 'High Value Dealers' have to jump through some hoops, with HMR&C, to confirm the identity of their customers before taking more than £10k in cash.

Edited by J111 on Friday 2nd November 09:41

There's no way I'd ever hold more than £3k or £4k in my hands!! the risk just doesn't seem worth it. Why not just pay by bank transfer or on a debit card?!

[J111]

RobM77 said:

Why not just pay by bank transfer or on a debit card?!

In terms of deals I know to have happened, rather than being 'some Russian geezer turned up with a suitcase of bloodied fivers' rumours/bullst:

- Showing off to your girlfriend and/or mates how good you are at bargaining by flashing the cash
- Middle Eastern women who don't have access to conventional banking.

Edited for speling and grammer

Edited by J111 on Friday 2nd November 10:06

[RobM77]

J111 said:

RobM77 said:

Why not just pay by bank transfer or on a debit card?!

In terms of deals I know to have happened, rather than being 'some Russian geezer turned up with a suitcase of bloodied fivers' rumours/bullshit:

- Showing off to your girlfriend and/or mates how good you are at bargaining by flashing the cash

Peopel always try that on me when I'm selling a car. They wave £2,000 under my nose in cash thinking it'll get me excited. No different to a number in my bank account in my mind!

J111 said:

- Middle Eastern women who don't have access to conventional banking.

Having never been a middle eastern woman, I can't comment on that

[J111]

RobM77 said:

They wave £2,000 under my nose in cash thinking it'll get me excited. No different to a number in my bank account in my mind!

I didn't say they weren't tts

RobM77 said:

Having never been a middle eastern woman, I can't comment on that

Me neither, although I have been in...never mind

As I understand it, and I'm sure someone will be along to tell me I'm wrong, some Arab women are, in theory, supposed to be subservient to the man of the house, but, in reality, have control of the household finances, so they don't have credit cards or bank accounts but do have access to large amounts of money.

[djohnson]

TigerK said:

I've often thought this. I drive past a row of terrace houses in a rough part of town, one of which has a BMW M6 parked on the front

There's a terrace which I go past on my usual running route which is probably only worth £250k max which has a black M6 parked outside.

[Mr Whippy]

RobM77 said:

a) I guess some people's priorities in life differ

b) It depends when you got on the housing market. Nowadays, someone on £70k - £100k a year can only just about get a mortage on a one bed flat or a tiny terraced house in a London suburb, but they can easily afford a brand new 911. The people he'll be living with who got on the housing ladder in the 70s aor 80s will probably be on about £15k a year...

Exactly, I'm was an FTB on my street and the mortgage after salary rises is nice and comfortable now, but with prices the way they are it'd be crazy to move, maybe double the mortgage for 20% more house, not so good. So that £650 pcm is better spent doing house stuff, holidays, and when that is all done, a nice Tamora (maybe ) and I'll look a right pleb on our street (mainly new Focus, Astra, Clio types) but who cares

I honestly wish it was the other way around, but today cars are cheap compared to houses.

Dave

[zcacogp]

ehyouwhat said:

Speaking personally, my car fleet (both vehicles ) are worth around 5% of the value of my property.

Interesting. Speaking personally, my car fleet (my only vehicle) is worth considerably less than 0.4% of the value of my properties.

But I guess there is no booby-prize in this competition, eh?


Oli.

[Futuramic]

TBops, be fair, one would have serious difficulty fitting a green Rizla between your house and the next.

However the unsuited car and house argument lives on. Where I live there is a network of streets near the town where the old money live. Hugely expensive, but not very fashionable victorian mansions and large houses. Invariably they have either an H-plate Micra or decrepit Volvo 740 on the driveway.

By contrast the local council estate is full of expensive metal.

When I finally get a house I'll gladly lower the tone of the area by parking whatever cheapo pre-90's tin I own in my garage.

[RobM77]

Futuramic said:

TBops, be fair, one would have serious difficulty fitting a green Rizla between your house and the next.

However the unsuited car and house argument lives on. Where I live there is a network of streets near the town where the old money live. Hugely expensive, but not very fashionable victorian mansions and large houses. Invariably they have either an H-plate Micra or decrepit Volvo 740 on the driveway.

By contrast the local council estate is full of expensive metal.

When I finally get a house I'll gladly lower the tone of the area by parking whatever cheapo pre-90's tin I own in my garage.

The new/old money divide in cars & property occurs because a lot of people buy cars as status symbols, and generally status symbols are exclusively 'new money'. However, there are plenty of exceptions out there. I know/hope most Pistonheaders buy cars purely due to a love of cars, and from reading the guy with the Enzo and SLR's posts I think he's definitely one of us I know plenty of old money types who have a love of cars and live in a £300k cottage with a classic Bentley and a brand new Porsche! No interest in showing off, they just love cars.

[burriana]

2 points:

a) We have a bloke in our village with a tiny (2 small beds at most) semi-detached cottage, a small front garden maybe 10 yards long and a small hardstanding between that and the road with room for one car. On that hardstanding used to be a spanking new 6-series cab ... there now resides a rather splendid Bentley Continental Flying Spur

b) My wife drives a big 4x4. We have two young kids, one only 7 months. The Jeep looks great, drives great, is luxurious, safe and more importantly, Vicki can put the kids straight into their seats without bending and twisting and knackering her back fine style like she did with the 3-series and Saab cab.

You're right though, just RWD would be fine

[paultither]

My Dad grew up in a terrace house in the back streets of Wigan and showed me it once.

A couple of doors down the entire garden was filled by a Porsche Cayenne in black with blacked out windows. It was about as wide as the house and totally blocked the front window and door.

I honestly think the car cost more than the house.

[Swoxy]

Anyone know Kensal Rise in NW London? ...



There's a three bed ex-council mid terrace there with a F430 and Continental GT on the drive! Well actually one's on the drive and one's outside since there's not enough space.

Or how about Burnt Oak in NW London? Home to this sort of shenanigans ...



There's a three bed ex-council end of terrace a few doors down from me with a Navigator and S-Type R on the drive. Further to that, I once rented a small two bed in a decrepit local estate to a family with a Cayenne Turbo

Edited by Swoxy on Friday 2nd November 12:33

[Irish]

5 wh said:

Irish said:

Sorry, but in my view a car should always cost an amount appropriate to the level of your the mortgage. If you mortgage is £200k you should not have a £60k car (and my car used to be 15% of my outstanding mortage!

AWAITS FLAMING!

How times change.Back in the late 80's I had a flat in Manchester I paid £12,000 for(mortgage £11500),and a brand new Escort XR3i cabriolet which cost £12000 too!!

Any regrets on not buying a house for £21,500 and spending £2k on a shed?

[5 wh]

Irish said:

5 wh said:

Irish said:

Sorry, but in my view a car should always cost an amount appropriate to the level of your the mortgage. If you mortgage is £200k you should not have a £60k car (and my car used to be 15% of my outstanding mortage!

AWAITS FLAMING!

How times change.Back in the late 80's I had a flat in Manchester I paid £12,000 for(mortgage £11500),and a brand new Escort XR3i cabriolet which cost £12000 too!!

Any regrets on not buying a house for £21,500 and spending £2k on a shed?

Not really although Im not particually proud of owning an XR3i cabriolet(it was white with a white roof too which makes it even naffer!!)At the time it was a big jump up from the flat I bought to any kind of decent house in the particular place I wanted to live,so even selling the car would not have given me enough to buy anything decent.Also I was 18 at the time and my financial priorities were different in those days(get a nice car first,worry about a place to live second)

[liner33]

We are the other end of the scale , large 5 bed house in the SE worth loads and a 6 yr old Merc diesel, Skoda Octavia and 13yr old Nissan to our names

[Mr Whippy]

Irish said:

5 wh said:

Irish said:

Sorry, but in my view a car should always cost an amount appropriate to the level of your the mortgage. If you mortgage is £200k you should not have a £60k car (and my car used to be 15% of my outstanding mortage!

AWAITS FLAMING!

How times change.Back in the late 80's I had a flat in Manchester I paid £12,000 for(mortgage £11500),and a brand new Escort XR3i cabriolet which cost £12000 too!!

Any regrets on not buying a house for £21,500 and spending £2k on a shed?

Just goes to show how completely out of it house prices are. Nothing else is quite so skewed when compared against the other.

Cars cheaper than ever vs salary, homes more expensive than forever (afaik) vs salary.

Dave

[RUSSELLM]

I live in an ex council house, that we purchased for £36000 three years ago.

It's currently got two Cerberas and the missus' little Honda on the drive.

I pay £25 a week towards the mortgage, which leaves me a little bit of spare cash to lavish on cars

[baSkey]

RUSSELLM said:

I live in an ex council house, that we purchased for £36000 three years ago.

It's currently got two Cerberas and the missus' little Honda on the drive.

I pay £25 a week towards the mortgage, which leaves me a little bit of spare cash to lavish on cars

it's been done to death but right to buy is ridiculous isn't it!

[RUSSELLM]

Indeed it is, to finish the mortgage off, good old Natwest were doing ten year mortgages at the start of the year, fixed at something like 4.75PC.