Car addiction ruining my finances :D
Discussion
Trowelhead
You are not alone sometimes it's the thrill of doing a deal going to see a new car the buzz and excitement.Then the excitement goes your already looking for an excuse to sell the car and this cycle repeats over and over.Ihave sold cars the day after buying them rarely keeping any car longer than 12 months i don't add up the money lost but know the ones that I wish I still owned.I have owned enough cars now to fill a multi storey car park it's getting better but I know it's only a matter of time before I'm searching the classifieds or browsing forums and eBay for that next fix.
You are not alone sometimes it's the thrill of doing a deal going to see a new car the buzz and excitement.Then the excitement goes your already looking for an excuse to sell the car and this cycle repeats over and over.Ihave sold cars the day after buying them rarely keeping any car longer than 12 months i don't add up the money lost but know the ones that I wish I still owned.I have owned enough cars now to fill a multi storey car park it's getting better but I know it's only a matter of time before I'm searching the classifieds or browsing forums and eBay for that next fix.
Edited by james28 on Sunday 9th September 21:59
Here's an alternative viewpoint. Over the last four years you've had a ball! It's great fun hunting down your next car, thrill of the chase and all that. It's also a buzz to drive different cars and you've had a wide range judging by your list. You've been living the dream mate!
Now, the only issue is: can you afford another £67k ish again? Forget what you have spent in the past, it's gone.
Either - yes, in which case crack on, you're a long time dead. Spend your money how you want.
Or - no, in which case there's some wise words on offer here. Change.
Now, the only issue is: can you afford another £67k ish again? Forget what you have spent in the past, it's gone.
Either - yes, in which case crack on, you're a long time dead. Spend your money how you want.
Or - no, in which case there's some wise words on offer here. Change.
Some of the comments here make me wonder if the addiction is based on the fi ding and buying of the car. A bit like say, a woman gets all excited about handbag purchases, then sticks them in the in the cuboard.
Thats fine, but you could make that pay by sourcing good quality private sale cars or traditionaly from auctions. Try and sell at a bit of a profit or at least cover costs. I think you would enjoy the process more. But fulfilling this addiction at the same time as lining the pockets of a car salesman i could never be comfortable repeatedly doing.
Thats fine, but you could make that pay by sourcing good quality private sale cars or traditionaly from auctions. Try and sell at a bit of a profit or at least cover costs. I think you would enjoy the process more. But fulfilling this addiction at the same time as lining the pockets of a car salesman i could never be comfortable repeatedly doing.
brickwall said:
£22.5k per year on cars - solid!
To save money, the main thing you have to do is stop changing. So:
a) If you like the RRS and are comfortable with the payments for the next 4 years, then keep it.
b) If you don't like it or aren't comfortable with the payments, then buy something cheaper where you are (which will likely be a 'downgrade'), and then keep that.
Either way, pick a car then keep it.
Hearing you loud and clear. Previous best was a year on my C63... So 4 years is seemingly impossible To save money, the main thing you have to do is stop changing. So:
a) If you like the RRS and are comfortable with the payments for the next 4 years, then keep it.
b) If you don't like it or aren't comfortable with the payments, then buy something cheaper where you are (which will likely be a 'downgrade'), and then keep that.
Either way, pick a car then keep it.
Ahbefive said:
I'd get rid. £300 a month will get you something much more fun to drive and save you £300 a month.
Hmm... Suggestions?mike9009 said:
As you have identified, stopping changing is the best call. Especially if changing at dealers where you are funding their profits. Changing can be the addictive part, so why not keep the RRS and change cheaper (sub £5k??) cars more frequently. You will have the 'all paid for' and 'reliable' RRS but still feed your changing addiction for interesting 'cheap' stuff to enjoy. If it goes bang - so what?
Mike
As you've identified, it's the changing and paying the dealers profits that's eating the cash... I think one keeper and having a cheap car to change would work - limits the downside as can just use ebay! I've done this in the past, bought an E39 M5 (a bit of a dog) for under 5k. Went back on ebay when i was bored of it... Mike
james28 said:
Trowelhead
You are not alone sometimes it's the thrill of doing a deal going to see a new car the buzz and excitement.Then the excitement goes your already looking for an excuse to sell the car and this cycle repeats over and over.Ihave sold cars the day after buying them rarely keeping any car longer than 12 months i don't add up the money lost but know the ones that I wish I still owned.I have owned enough cars now to fill a multi storey car park it's getting better but I know it's only a matter of time before I'm searching the classifieds or browsing forums and eBay for that next fix.
Good to hear from another suffering this terrible affliction You are not alone sometimes it's the thrill of doing a deal going to see a new car the buzz and excitement.Then the excitement goes your already looking for an excuse to sell the car and this cycle repeats over and over.Ihave sold cars the day after buying them rarely keeping any car longer than 12 months i don't add up the money lost but know the ones that I wish I still owned.I have owned enough cars now to fill a multi storey car park it's getting better but I know it's only a matter of time before I'm searching the classifieds or browsing forums and eBay for that next fix.
Edited by james28 on Sunday 9th September 21:59
Yes i think it is the thrill / anticipation / trying something new. I need to get a long term car, then either hire cars for a few days at a time or stick to a second cheaper car i can move on easily / cheaply.
I usually manage to pick up on something i don't like about a car, and then this forumlates as the reason it MUST go - and the cycle repeats. The two cars i have struggled to pick faults with were the C63 (brilliant in every way except fuel cost) and the RRS (brilliant as a daily, but not exactly a sports car)
I did go and see a W123 mercedes. Cheaper classics might be an outlet for this type of behaviour!
Brave Fart said:
Here's an alternative viewpoint. Over the last four years you've had a ball! It's great fun hunting down your next car, thrill of the chase and all that. It's also a buzz to drive different cars and you've had a wide range judging by your list. You've been living the dream mate!
Now, the only issue is: can you afford another £67k ish again? Forget what you have spent in the past, it's gone.
Either - yes, in which case crack on, you're a long time dead. Spend your money how you want.
Or - no, in which case there's some wise words on offer here. Change.
Great point, and no - i don't want to be losing £67k again in the next two years. I'm 29, live on my own, earn decent money so i can get away with a decent budget for cars - but not £67k Now, the only issue is: can you afford another £67k ish again? Forget what you have spent in the past, it's gone.
Either - yes, in which case crack on, you're a long time dead. Spend your money how you want.
Or - no, in which case there's some wise words on offer here. Change.
It's depressing really - could have probably daily driven a Ferrari F12 for that kind of cost!!
rufusgti said:
Some of the comments here make me wonder if the addiction is based on the fi ding and buying of the car. A bit like say, a woman gets all excited about handbag purchases, then sticks them in the in the cuboard.
Thats fine, but you could make that pay by sourcing good quality private sale cars or traditionaly from auctions. Try and sell at a bit of a profit or at least cover costs. I think you would enjoy the process more. But fulfilling this addiction at the same time as lining the pockets of a car salesman i could never be comfortable repeatedly doing.
Yes i think 90% of it is in the finding and buying, after that it just becomes another car - some better than others. Thats fine, but you could make that pay by sourcing good quality private sale cars or traditionaly from auctions. Try and sell at a bit of a profit or at least cover costs. I think you would enjoy the process more. But fulfilling this addiction at the same time as lining the pockets of a car salesman i could never be comfortable repeatedly doing.
I have never considered that angle but that could work. If i was able to change my thought process and approach it as a sideline hobby business i would do far better! Setup ltd company, trade policy, inject some funds, offset losses against tax etc...
trowelhead said:
It's depressing really - could have probably daily driven a Ferrari F12 for that kind of cost!!
Maybe but running costs...? In all fairness, you probably spent zero on servicing and warranty. It's your total annual outlay (c.£23k) that is the problem. Either keep the cars longer, buy older cars, or if it's the new car buzz that is the problem - something cheaper but equally fun e.g. Fiat 124 Spyder - there is no easy route. I avoid reading new car magazines and such as they feed the drug - prefer to stick to the 'Reader Cars' section and get the enjoyment from older cars. Blokes = cars, Women = handbags .. it starts to becomes rather pointless when you think about it.You need to stick with a car as your daily, then work out if you have spare cash as a fun fund for other purchases. The RRS is a great car, realistically what are you going to change it for that you be be happy with? That's the really rub, you need to convince yourself the car is a keeper and flipping serves no purpose other than the buzz of buying and selling. The longer you run that car then the costs average out over the period, selling after 1-2yrs is a killer...get some use out of it.
fido said:
Maybe but running costs...? In all fairness, you probably spent zero on servicing and warranty. It's your total annual outlay (c.£23k) that is the problem. Either keep the cars longer, buy older cars, or if it's the new car buzz that is the problem - something cheaper but equally fun e.g. Fiat 124 Spyder - there is no easy route. I avoid reading new car magazines and such as they feed the drug - prefer to stick to the 'Reader Cars' section and get the enjoyment from older cars. Blokes = cars, Women = handbags .. it starts to becomes rather pointless when you think about it.
True, i don't think i've paid for anything such as warranties, tyres etc in the last 2 years.Yup it is the outlay thats the killer. RRS has pretty good running costs - i've decided to keep it, clearly it's more the constant changing that is the obvious way to reduce costs and stress!
I'll likely pick up something cheap next summer that will be an outlet for silliness
jdwoodbury said:
You need to stick with a car as your daily, then work out if you have spare cash as a fun fund for other purchases. The RRS is a great car, realistically what are you going to change it for that you be be happy with? That's the really rub, you need to convince yourself the car is a keeper and flipping serves no purpose other than the buzz of buying and selling. The longer you run that car then the costs average out over the period, selling after 1-2yrs is a killer...get some use out of it.
Exactly - to be honest i do love the car. It does everything i could need a car to do as a daily. If i downgrade it i'll clearly regret it as there is no real point in doing so. Agreed, i'm going to make this one the keeper then!If i can justify it, a manual gen 1 R8 or a vantage would be great alongside it in the future for fun + hold their value well.
It's all an excuse to get the buzz of the change!
This thread has been really useful actually so thanks to all who contributed.
I initially though you would all say the RRS is costing too much and to ditch it - but actually it's worked out that buying something nice and running it for a long period is probably better
JapanRed said:
Just buy sensibly OP. I’ve got a 997 C4S and a F80 M3. Both of them together cost me about £5k per year in depreciation which is absolutely brilliant in my book.
Seriously?I’m burning £3k a year on average over my4 year ownership of my 535d which is 8 years old now. For £2k more to have a 911 & the latest M3 .... is jump at it
JapanRed said:
Just buy sensibly OP. I’ve got a 997 C4S and a F80 M3. Both of them together cost me about £5k per year in depreciation which is absolutely brilliant in my book.
Instinctively I find it hard to agree with Welshbeef, but unless you bought exceptionally well, or at really high miles, I think you might be a little light on your estimate. OP I feel your pain and joy.
Just been spanked big time over the last year on a DB9 - £21k down. ended up not enjoying the drive in the wet and coulndt face another winter in it.
Not added up the cost tho of all cars. not going to either.
Other cars owned have been good - 2x Caterhams, 1x 911 targa 2x 911tt's M5, E63 AMG, RS6, Aston etc. The best was a G4 Defender kept for 4 years. Not fast but fun. All lose money (g4 didn't) but were within a reasonable depreciation curve. The DB9 was exceptional even by my standards. Most were new. Good discounts can be had on Car wow which helps with the curve and most kept for 1 or 2 years.
Just got out of the db9 for a year old E63AMG again. I think that will be it for getting very expensive cars there is plenty of fun to be had in lower price bracket ie JCW Minis/ Caterham 7's etc or 1 or 2 yrs old cars.
like you the Merc AMG's are one of the few brands ive bought more then 1 of (save for Caterham and Pork)
As others have said - keep the RRS but I would add - buy a Caterham 7 - you will love it. it will be up there as a highlight on your driving musts/
Just been spanked big time over the last year on a DB9 - £21k down. ended up not enjoying the drive in the wet and coulndt face another winter in it.
Not added up the cost tho of all cars. not going to either.
Other cars owned have been good - 2x Caterhams, 1x 911 targa 2x 911tt's M5, E63 AMG, RS6, Aston etc. The best was a G4 Defender kept for 4 years. Not fast but fun. All lose money (g4 didn't) but were within a reasonable depreciation curve. The DB9 was exceptional even by my standards. Most were new. Good discounts can be had on Car wow which helps with the curve and most kept for 1 or 2 years.
Just got out of the db9 for a year old E63AMG again. I think that will be it for getting very expensive cars there is plenty of fun to be had in lower price bracket ie JCW Minis/ Caterham 7's etc or 1 or 2 yrs old cars.
like you the Merc AMG's are one of the few brands ive bought more then 1 of (save for Caterham and Pork)
As others have said - keep the RRS but I would add - buy a Caterham 7 - you will love it. it will be up there as a highlight on your driving musts/
Edited by superlightr on Monday 17th September 17:04
superlightr said:
OP I feel your pain and joy.
Just been spanked big time over the last year on a DB9 - £21k down. ended up not enjoying the drive in the wet and coulndt face another winter in it.
Not added up the cost tho of all cars. not going to either.
Other cars owned have been good - 2x Caterhams, 1x 911 targa 2x 911tt's M5, E63 AMG, RS6, Aston etc. The best was a G4 Defender kept for 4 years. Not fast but fun. All lose money (g4 didn't) but were within a reasonable depreciation curve. The DB9 was exceptional even by my standards. Most were new. Good discounts can be had on Car wow which helps with the curve and most kept for 1 or 2 years.
Just got out of the db9 for a year old E63AMG again. I think that will be it for getting very expensive cars there is plenty of fun to be had in lower price bracket ie JCW Minis/ Caterham 7's etc or 1 or 2 yrs old cars.
like you the Merc AMG's are one of the few brands ive bought more then 1 of (save for Caterham and Pork)
As others have said - keep the RRS but I would add - buy a Caterham 7 - you will love it. it will be up there as a highlight on your driving musts/
Only on PH - hahah. A thread about car addiction - the solution? Buy another car (caterham) haha Just been spanked big time over the last year on a DB9 - £21k down. ended up not enjoying the drive in the wet and coulndt face another winter in it.
Not added up the cost tho of all cars. not going to either.
Other cars owned have been good - 2x Caterhams, 1x 911 targa 2x 911tt's M5, E63 AMG, RS6, Aston etc. The best was a G4 Defender kept for 4 years. Not fast but fun. All lose money (g4 didn't) but were within a reasonable depreciation curve. The DB9 was exceptional even by my standards. Most were new. Good discounts can be had on Car wow which helps with the curve and most kept for 1 or 2 years.
Just got out of the db9 for a year old E63AMG again. I think that will be it for getting very expensive cars there is plenty of fun to be had in lower price bracket ie JCW Minis/ Caterham 7's etc or 1 or 2 yrs old cars.
like you the Merc AMG's are one of the few brands ive bought more then 1 of (save for Caterham and Pork)
As others have said - keep the RRS but I would add - buy a Caterham 7 - you will love it. it will be up there as a highlight on your driving musts/
Edited by superlightr on Monday 17th September 17:04
Sorry to hear about the DB9 - but hopefully it was fun while you had it!
You've had some lovely cars there. I'd love an E63, that will definately be a consideration for the future. E63 or a Panamera sound like fun.
I thought you would have been hammered if alot of those were new?
Funny you say about cheaper cars too. I really want a Mini GP2 as a track / fun car but a Caterham would probably be better...
JapanRed said:
Just buy sensibly OP. I’ve got a 997 C4S and a F80 M3. Both of them together cost me about £5k per year in depreciation which is absolutely brilliant in my book.
That's brilliant if accurate! classicaholic said:
Keep the RRS and get a trailer, shove a track day or race car on the trailer & go have some fun!
need to pop into LR see how much a retractable towbar is to retrofit...p1stonhead said:
Get a reasonable daily and join a supercar club OP!
I like that idea - are there any in the NW / Cheshire / Manchester?jdwoodbury said:
A 1st generation R8 V8 is a good buy if you find one that has been looked after. I had one for a year and did 6k miles and it only lost me £500 in that time (did not even have to service it....just fuel on top)!
I need to own a Gen 1 in my lifetime. I've watched prices for years and decent ones seem to just not move at all.Well I see combustion engines as my hobby. How much do you put against your enjoyment? I have spent over £100K over the past 10 years on cars and bikes with additional £20K for upgrades and modifications etc and £6K a year maintaining them. Afterall Cars and bikes are the most practical toys you can have, you can go to work with it, you can go shopping with it, you can go holidays with it. So I never justify the depreciations or looking at a way to save money. I just look at and justify to my other half how I can afford by using my A level Man Maths.
Not helping, I know!
Not helping, I know!
I would just like to say thanks to the OP for his constant car changing behaviour, ensures a plentiful supply of good value cars for me.
As others have said it is the changing the car that costs the money, mind you selling a Porsche back to a Porsche dealer is probably one of the most costly ways of changing a car.
As others have said it is the changing the car that costs the money, mind you selling a Porsche back to a Porsche dealer is probably one of the most costly ways of changing a car.
Another 3 months gone by!
Still in the RRS.
Thinking about mini GP or a catherham as a fun toy next summer alongside. Catherham is completely new territory to me no idea where to start.
But they look incredible fun. As others have said, a trailer and a catherham track toy would be a dream.
I do occasionally eye up the older SQ5s and wonder if it makes sense to change from the RRS, but then i come back to this thread and think probably not haha.
Still in the RRS.
Thinking about mini GP or a catherham as a fun toy next summer alongside. Catherham is completely new territory to me no idea where to start.
But they look incredible fun. As others have said, a trailer and a catherham track toy would be a dream.
I do occasionally eye up the older SQ5s and wonder if it makes sense to change from the RRS, but then i come back to this thread and think probably not haha.
Impressed by your self discipline
How about getting a regular Cooper S, changing the pulley size on the supercharger, remap, ripping out the back seats and install a cage? Far cheaper and 'probably' more fun. You'd be less worried about stuffing it on a track day at least! Plus you could set it up how 'you' want it rather than devaluing a GP.
How about getting a regular Cooper S, changing the pulley size on the supercharger, remap, ripping out the back seats and install a cage? Far cheaper and 'probably' more fun. You'd be less worried about stuffing it on a track day at least! Plus you could set it up how 'you' want it rather than devaluing a GP.
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