Money in the bank earning nothing so!!!!

[dufusmuppet]

Is it worth buying a classic/modern classic up to £35k to run enjoy and even make some money or just break even...

So what is worth looking at???

[wezo]

I would look at an s1 Elise and save some of your cash - you won't lose money on an Elise I and they are cheap to run, whereas some of the stuff out there is definitely in a bubble...

[Renovation]

From the current prices I think the rest of the UK have thought this since 2008 - choose very carefully.

[medieval]

I am in a similar boat but I think it's a bit like a ticking time bomb and time is possibly running out on the right choices.


Probably just being pessimistic but can't help wondering.............

[FreeLitres]

I can't see cars as being a sound investment unless you are going to store them in a garage and not put any miles on.

[lbc]

dufusmuppet said:

So what is worth looking at???

Change your bank account.

I have nearly 50K in the regular bank account and get interest paid on it.

It's not a fortune, but it's free money.

[sunbeam alpine]

I've bought one a year the last 3 years using the same logic, and so far I've trebled my money (in theory) - and enjoyed driving them.

It's getting very difficult to buy well, as everyone is jumping on the bandwagon, and that (IMO) is the secret. I always go with cash (and a car trailer), and buy immediately so long as it's good. If it's keenly-priced and any good it won't hang around, as more and more people are buying as investments.

I buy them to use - we run regular convoys of my cars - with the view that if they increase in value, that's a bonus.

There's a thread about my 3 - http://www.pistonheads.com/Gassing/topic.asp?h=0&a...

[raceboy]

Having similar thoughts myself but I'm not too worried about the car losing (a little) value while I enjoy it.
Plan was to get a V8 Vantage but it didn't fit in my garage (so in an epic display of man maths now looking for a new house with a bigger garage).
Was having a chat with my local Porsche specialist the other day and he was confident 997 Turbos were a sound investment, so much so he'd just bought one.
I'd say an Exige is a good idea, but just use whatever you get, write off running costs and hope to break even over a few years and have some fun in it.

[anonymous-user]

lbc said:

Change your bank account.

I have nearly 50K in the regular bank account and get interest paid on it.

It's not a fortune, but it's free money.

If it's above the rate of inflation then yeah.

[loskie]

if you buy the maximum im premium bonds (40k) you are likely to get 2% tax free.

[budfox]

loskie said:

if you buy the maximum im premium bonds (40k) you are likely to get 2% tax free.

The amount you buy is irrelevant.

[phib]

FreeLitres said:

I can't see cars as being a sound investment unless you are going to store them in a garage and not put any miles on.

There are many cases where this isn't the case. I have to admit though it's usually £50k -£100k stuff that this happens with

Phib

[FourWheelDrift]

Cars, no. Property yes.

Kent? Investment - http://www.reedsrains.co.uk/properties-for-sale-id...
Odd advert, presented to be all the flats (with rent details, £400 p/m) but advert says 1 bedroom house?

But if it is, you too can be an evil landlord, the Nicholas van Hoogstraten of Kent.


Many lovely things too, including the cream of static caravans you could hire out to holidaymakers - http://www.rightmove.co.uk/property-for-sale/Kent....




Ok cars.........................I bet this will appreciate - http://www.pistonheads.com/classifieds/used-cars/f...

[SteveSteveson]

budfox said:

loskie said:

if you buy the maximum im premium bonds (40k) you are likely to get 2% tax free.

The amount you buy is irrelevant.

It kind of does. You reach a point where you earn enough to get regular pay outs. With smaller amounts you are likely to not get any payout.

[budfox]

SteveSteveson said:

budfox said:

loskie said:

if you buy the maximum im premium bonds (40k) you are likely to get 2% tax free.

The amount you buy is irrelevant.

It kind of does. You reach a point where you earn enough to get regular pay outs. With smaller amounts you are likely to not get any payout.

You are less likely to win with less money invested, but the expected return is the same whether you've got £100 or £10000 of bonds.

[FreeLitres]

phib said:

FreeLitres said:

I can't see cars as being a sound investment unless you are going to store them in a garage and not put any miles on.

There are many cases where this isn't the case. I have to admit though it's usually £50k -£100k stuff that this happens with

Phib

Possibly.

All I know is that if you buy something rare/sporty for around £15k and then stick some miles on it and pay for annual servicing/fuel/repairs/depreciation, you will not make any money. Quite the opposite in fact.

Still worth doing for the experience, but not as an "investment" as such.

[phib]

Depends what you buy, I bought several 911's (993's, 3.2's and 964's) and always made some money on them.

If you had bought a 911 for £15k (964,3.2 or 993) in the last couple of years you would have pretty much doubled your money

Phib

[vinnie83]

FourWheelDrift said:

Cars, no. Property yes.

Kent? Investment - http://www.reedsrains.co.uk/properties-for-sale-id...
Odd advert, presented to be all the flats (with rent details, £400 p/m) but advert says 1 bedroom house?

That's the ground rents from each flat - per year.

You buy the freehold, not the property.

[Transiter]

vinnie83 said:

That's the ground rents from each flat - per year.

You buy the freehold, not the property.

If you're buying the freehold does it mean the property is yours when the leases end? in 99 years time?

[dufusmuppet]

lbc said:

Change your bank account.

I have nearly 50K in the regular bank account and get interest paid on it.

It's not a fortune, but it's free money.

I do have 2 isa`s (one in wifes name) so i do earn interest tax free,both have largish amounts but im of the thinking why not spend some have some fun and maybe make a little to....