Car addiction ruining my finances :D
Discussion
trowelhead said:
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.
Buy a secondhand older Caterham as an “explore what I enjoy” if you don’t like it you can satisfy your selling addiction and shift it on at little or no loss, if you like it you can shift it on and buy the Caterham that you really want to suit your needs.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.
I got bored with depreciation on new cars and the bonkers cost of a company car so went “Barging” in an old S Class Merc, cheap as chips, does not reward you for going fast! Encourages you to waft around back and forth to work - leaving me to enjoy the Bonkers weekend car for what it is!
Jim
I agree with buying an old caterham. Get an ex-academy road legal car with a few war wounds but mechanically sound. Go play without fear. Sell on when done for next to no loss.
If you bend anything or needs engine work during your ownership, DIY is like a big mecano kit and parts are peanuts.
If you bend anything or needs engine work during your ownership, DIY is like a big mecano kit and parts are peanuts.
IF OP can afford his addiction what does it matter? It’s not like he is out financing F488’s it is nice cars but not crazy silly prices.
Go forth and enjoy if you wish
You could do it this way though.
1. It’s a two car garage setup.
2. Car 1 is your bog standard A to B car let’s call it 3 year old Golf GTi/Passat whatever something of that type. This car is kept for the long term (OP I mean 5 to 7 years )
3. Due to the fact you have car 1 covering the basics this second car can be a bit more special and changed more frequently as you are accostomed to.
Maybe it’s actually cheaper to join a supercar club? Genuienly vs what you have been sucking up in £ lost.
Go forth and enjoy if you wish
You could do it this way though.
1. It’s a two car garage setup.
2. Car 1 is your bog standard A to B car let’s call it 3 year old Golf GTi/Passat whatever something of that type. This car is kept for the long term (OP I mean 5 to 7 years )
3. Due to the fact you have car 1 covering the basics this second car can be a bit more special and changed more frequently as you are accostomed to.
Maybe it’s actually cheaper to join a supercar club? Genuienly vs what you have been sucking up in £ lost.
mike9009 said:
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.
I get that, sounds like fun. Just love the GPs though hahaHow 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.
Happy Jim said:
trowelhead said:
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.
Buy a secondhand older Caterham as an “explore what I enjoy” if you don’t like it you can satisfy your selling addiction and shift it on at little or no loss, if you like it you can shift it on and buy the Caterham that you really want to suit your needs.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.
I got bored with depreciation on new cars and the bonkers cost of a company car so went “Barging” in an old S Class Merc, cheap as chips, does not reward you for going fast! Encourages you to waft around back and forth to work - leaving me to enjoy the Bonkers weekend car for what it is!
Jim
I had an old (ish) s class for a bit - they are wonderful cars, so so comfy
Shnozz said:
I agree with buying an old caterham. Get an ex-academy road legal car with a few war wounds but mechanically sound. Go play without fear. Sell on when done for next to no loss.
If you bend anything or needs engine work during your ownership, DIY is like a big mecano kit and parts are peanuts.
This seems like a plan, just need to find a place to store it! If you bend anything or needs engine work during your ownership, DIY is like a big mecano kit and parts are peanuts.
Welshbeef said:
IF OP can afford his addiction what does it matter? It’s not like he is out financing F488’s it is nice cars but not crazy silly prices.
Go forth and enjoy if you wish
You could do it this way though.
1. It’s a two car garage setup.
2. Car 1 is your bog standard A to B car let’s call it 3 year old Golf GTi/Passat whatever something of that type. This car is kept for the long term (OP I mean 5 to 7 years )
3. Due to the fact you have car 1 covering the basics this second car can be a bit more special and changed more frequently as you are accostomed to.
Maybe it’s actually cheaper to join a supercar club? Genuienly vs what you have been sucking up in £ lost.
Yeah thanks. Sometimes i think, well i could have easily had a raging coke addiction and spend the same money on nothing essentially so not all bad.Go forth and enjoy if you wish
You could do it this way though.
1. It’s a two car garage setup.
2. Car 1 is your bog standard A to B car let’s call it 3 year old Golf GTi/Passat whatever something of that type. This car is kept for the long term (OP I mean 5 to 7 years )
3. Due to the fact you have car 1 covering the basics this second car can be a bit more special and changed more frequently as you are accostomed to.
Maybe it’s actually cheaper to join a supercar club? Genuienly vs what you have been sucking up in £ lost.
I think the two car setup is what i'm leaning towards now. If id bought something cheaper then fine but as i now have the range, i think keeping that as a long termer makes more sense than changing it again. I do spend alot of time in it day to day so want something that i enjoy.
So then wait for summer and buy something like a catherham / manual V8 R8 etc that scratches an itch, is fun for summer, but can be moved on with minimal losses
Seems like a semi sensible way to go!
Supercar club would be ideal but i'm south manchester based and i don't think there are any around here?
Shnozz said:
... a £35k Audi R8 is unlikely to see you lose much at all. But you should have a £5k - £10k slush fund just in case (perhaps less so with an R8).
Done precisely this. Owned an R8 for a year. It's cost me nothing in depreciation, and around 2 grand for service, MOT, new tyres. Of course something could go horribly wrong, but even then it's a reasonable car to maintain. Overall a much cheaper ownership experience than a brand new RS3, TTRS, RS6, etc.NewNameNeeded said:
Shnozz said:
... a £35k Audi R8 is unlikely to see you lose much at all. But you should have a £5k - £10k slush fund just in case (perhaps less so with an R8).
Done precisely this. Owned an R8 for a year. It's cost me nothing in depreciation, and around 2 grand for service, MOT, new tyres. Of course something could go horribly wrong, but even then it's a reasonable car to maintain. Overall a much cheaper ownership experience than a brand new RS3, TTRS, RS6, etc.NewNameNeeded said:
Shnozz said:
... a £35k Audi R8 is unlikely to see you lose much at all. But you should have a £5k - £10k slush fund just in case (perhaps less so with an R8).
Done precisely this. Owned an R8 for a year. It's cost me nothing in depreciation, and around 2 grand for service, MOT, new tyres. Of course something could go horribly wrong, but even then it's a reasonable car to maintain. Overall a much cheaper ownership experience than a brand new RS3, TTRS, RS6, etc.Is there a decent private sales market for R8s? Easy to move on private to avoid dealer fees for PX etc?
Welshbeef said:
IF OP can afford his addiction what does it matter? It’s not like he is out financing F488’s it is nice cars but not crazy silly prices.
Go forth and enjoy if you wish
You could do it this way though.
1. It’s a two car garage setup.
2. Car 1 is your bog standard A to B car let’s call it 3 year old Golf GTi/Passat whatever something of that type. This car is kept for the long term (OP I mean 5 to 7 years )
3. Due to the fact you have car 1 covering the basics this second car can be a bit more special and changed more frequently as you are accostomed to.
Maybe it’s actually cheaper to join a supercar club? Genuienly vs what you have been sucking up in £ lost.
Quick update!Go forth and enjoy if you wish
You could do it this way though.
1. It’s a two car garage setup.
2. Car 1 is your bog standard A to B car let’s call it 3 year old Golf GTi/Passat whatever something of that type. This car is kept for the long term (OP I mean 5 to 7 years )
3. Due to the fact you have car 1 covering the basics this second car can be a bit more special and changed more frequently as you are accostomed to.
Maybe it’s actually cheaper to join a supercar club? Genuienly vs what you have been sucking up in £ lost.
I decided to do something similar to WBs suggestion
RRS has been sold for a sensible daily driver (330d Touring Xdrive - brilliant all rounder - going to keep it for a few years)
I'll give it a while and when the itch returns i'll be looking at Gen 1 R8, 997 turbo or even a Mini JCW GP2... Something i can trade in and out of privately with minimal depreciation.
Lessons learned 1. keep cars longer 2. never, ever, ever buy new 3. Buy 1-3 years old approved warranty 4. Don't spend too much, personally i get stressed out with big pcp or finance commitments on a daily driver when something cheaper will do the job.
I won't discount another range in the future as they are lovely, but it would be a few years old having done a big chunk of its depreciating
trowelhead said:
I'll give it a while and when the itch returns i'll be looking at Gen 1 R8, 997 turbo or even a Mini JCW GP2...
I'll remind you why you started this thread I've worked out that in the last 3 years i've spent/lost in the region of £68k across 9 cars, often keeping them less than 6 months
We all love cars on here, and we all spend far more on them than what normal sensible people do, which is fine. Personally I have the same problem when it comes to cars, if I have spare cash lying around my self control on car spending is zero/non existent
.What I've found the best way to control car spending is to get your self a massive crazy financial commitment that's so scary it makes you think twice on wasting money for a car.....For most people a mortgage will do it!!!
Though with foward planning you might end up in a situation when the mortgage seems under control and shrinking quicker than planned, if so go and plan a house extension, its amazing how easily you can spend six figures sums without even trying....At least that sum is now going to 'bricks and mortar' which we are forever been told a better way to spend cash than on a car.
Oh and get a kid, £1000/month child care fees will put a stop to your car spending even quicker than property spending, and if you have multiple kids, simply multiply the financial pain.....
If after all that your sitting twiddling your thumbs on what to do with £68k over 3 years, I would say stop stressing and go buy what ever car you wang, as you've clearly worked hard enough in life to deserve it!
Edited by gangzoom on Wednesday 23 October 06:11
gangzoom said:
I'll remind you why you started this thread
I've worked out that in the last 3 years i've spent/lost in the region of £68k across 9 cars, often keeping them less than 6 months
We all love cars on here, and we all spend far more on them than what normal sensible people do, which is fine. Personally I have the same problem when it comes to cars, if I have spare cash lying around my self control on car spending is zero/non existent.
What I've found the best way to control car spending is to get your self a massive crazy financial commitment that's so scary it makes you think twice on wasting money for a car.....For most people a mortgage will do it!!!
Though with foward planning you might end up in a situation when the mortgage seems under control and shrinking quicker than planned, if so go and plan a house extension, its amazing how easily you can spend six figures sums without even trying....At least that sum is now going to 'bricks and mortar' which we are forever been told a better way to spend cash than on a car.
Oh and get a kid, £1000/month child care fees will put a stop to your car spending even quicker than property spending, and if you have multiple kids, simply multiply the financial pain.....
If after all that your sitting twiddling your thumbs on what to do with £68k over 3 years, I would say stop stressing and go buy what ever car you wang, as you've clearly worked hard enough in life to deserve it!
If you don’t want/need a big house/extension of kids though, I’m not sure I see this as a great financial instrument. And in the case of the latter, a time proven bad financial decision, albeit good for other reasons. I've worked out that in the last 3 years i've spent/lost in the region of £68k across 9 cars, often keeping them less than 6 months
We all love cars on here, and we all spend far more on them than what normal sensible people do, which is fine. Personally I have the same problem when it comes to cars, if I have spare cash lying around my self control on car spending is zero/non existent
.What I've found the best way to control car spending is to get your self a massive crazy financial commitment that's so scary it makes you think twice on wasting money for a car.....For most people a mortgage will do it!!!
Though with foward planning you might end up in a situation when the mortgage seems under control and shrinking quicker than planned, if so go and plan a house extension, its amazing how easily you can spend six figures sums without even trying....At least that sum is now going to 'bricks and mortar' which we are forever been told a better way to spend cash than on a car.
Oh and get a kid, £1000/month child care fees will put a stop to your car spending even quicker than property spending, and if you have multiple kids, simply multiply the financial pain.....
If after all that your sitting twiddling your thumbs on what to do with £68k over 3 years, I would say stop stressing and go buy what ever car you wang, as you've clearly worked hard enough in life to deserve it!
Edited by gangzoom on Wednesday 23 October 06:11
The OP would be better off just financing a second hand supercar! Or, build up a £100k savings nest egg whilst enjoying the BMW, invest it and put your 3/4% return towards financing a toy on the side leaving the capital untouched in the investment and so less guilty about it.
gangzoom said:
trowelhead said:
I'll give it a while and when the itch returns i'll be looking at Gen 1 R8, 997 turbo or even a Mini JCW GP2...
I'll remind you why you started this thread I've worked out that in the last 3 years i've spent/lost in the region of £68k across 9 cars, often keeping them less than 6 months
We all love cars on here, and we all spend far more on them than what normal sensible people do, which is fine. Personally I have the same problem when it comes to cars, if I have spare cash lying around my self control on car spending is zero/non existent
.What I've found the best way to control car spending is to get your self a massive crazy financial commitment that's so scary it makes you think twice on wasting money for a car.....For most people a mortgage will do it!!!
Though with foward planning you might end up in a situation when the mortgage seems under control and shrinking quicker than planned, if so go and plan a house extension, its amazing how easily you can spend six figures sums without even trying....At least that sum is now going to 'bricks and mortar' which we are forever been told a better way to spend cash than on a car.
Oh and get a kid, £1000/month child care fees will put a stop to your car spending even quicker than property spending, and if you have multiple kids, simply multiply the financial pain.....
If after all that your sitting twiddling your thumbs on what to do with £68k over 3 years, I would say stop stressing and go buy what ever car you wang, as you've clearly worked hard enough in life to deserve it!
Edited by gangzoom on Wednesday 23 October 06:11
i'm not adding it up though.I agree with you and have realised that i'll always spend more on cars than others would deem sensible and thats fine - think it's just after having all sorts, i would have as much fun in a mini gp2 that is £16k and will lose not alot - or catherham as others have said vs porsches that are nice but not THAT great for the extra losses.
Big mortgage/kids - yes indeed that would do the job - however i'm self employed so thats something i've always been wary of (BIG mortgage that is)
Shnozz said:
If you don’t want/need a big house/extension of kids though, I’m not sure I see this as a great financial instrument. And in the case of the latter, a time proven bad financial decision, albeit good for other reasons.
The OP would be better off just financing a second hand supercar! Or, build up a £100k savings nest egg whilst enjoying the BMW, invest it and put your 3/4% return towards financing a toy on the side leaving the capital untouched in the investment and so less guilty about it.
I quite fancy a big house but i'm not married, no kids and quite like living in small ish apartments, nothing to clean or mow or fix!The OP would be better off just financing a second hand supercar! Or, build up a £100k savings nest egg whilst enjoying the BMW, invest it and put your 3/4% return towards financing a toy on the side leaving the capital untouched in the investment and so less guilty about it.
That's the plan - pile up some cash for now and see how i feel in a few years. That would be excellent motivation actually. When i've saved £100k i can go out guilt free and get a toy
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