unemployed.. But want to spend last of saving on a kit car

[gareth.e]

MX5guy said:

gareth.e said:

eg Watermelon said:

OP you're not doing yourelf any favours TBH...

You're not really in a position to say renting = retards, when you're living FOC at your parents house, whilst unemployed and wanting to blow savings which i can only assume where given to you buy your parents on a item which will lose money and go on to cost you in the future - i know you have now said you won't but you started this thread.

Plus, how do you know what you will doing when you're in your late 20s early 30s? Life is not that simple and you could be renting for the rest of your life? How do you know otherwise huh? Or, are your parents going to bail you out and pay your deposit/mortgage? Will you then be a retard? No, wait you're acting like you already are one by the attitude of your posts.

I know you're young, but then so i'm i 26) and i don't rent before you ask i have a mortgage but left home at 18 and rented for 3 years, do i want a medal? No, but at least i can say i stood on my own two feet which i really think you need to do.

You might think it's boring saving money and not spending it and looking towards your future but you can't expect everyone to agree with you when you start a thread like this, otherwise it would be 2-posts long saying do it. In a way we're looking out for you....

Whoosh...

You obviously have read everything I've typed.

If you look at the posts you can see a lot of people understand that is what you've been saying, so it seems either you're saying it the wrong way, or you're just thinking it's not a problem.

The reality is you said:

"I'd have to blow my savings on a kit car".

Where then does the money come from to pay your parents? Since you have no job and no savings then you couldn't afford to. There is no promise you will get a job soon. If you drive the car it might not depreciate a lot, but it will cost you in repairs/ petrol etc. If the worst came to the worst then you could lose almost all the money if the engine went, or something like that. It's not a risk free deal that you'd get your money back.

What happens if the worst happens and you don't get a job for a few years? You could easily end up late twenties and either at home with the parents or having to rent, so don't say someone is a retard if they are in that situation (I'm not, but I can easily see how it could happen).

As people have said, how have you managed to save so much despite studying if it wasn't money from your parents? I'd be interested to know, because even though I worked while studying I wasn't able to come out debt free or with lots of savings.

I take it you didn't read the thread or have a bad memory? Did you not see my example of if I was putting my money into a commodity? Or when I spoke about being in a stable financial/living position? Etc.....

I am not completely debt free as I still have a bit of a student loan. It's no where near a big as many peoples but it will happily sit 'ignored' until I'm in a decent position to pay it back (inb4 uneducated ststorm)

[gareth.e]

eg Watermelon said:

gareth.e said:

No its called taking the piss. Read the thread.

Sorry, which parts have i missed?

The part where I didn't buy a kit car.

The part where the kit car would really struggle to lose me money. (unless I spent 2k on it)

The part where I explained MY position, not yours.

The part where I explained the circumstances why people rent.

Etc etc etc


Edit: and it really does sound like you want a medal for 'standing on your own two feet'

WELL DONE YOU!

Edited by gareth.e on Wednesday 11th May 12:39

[gareth.e]

MX5guy said:

gareth.e said:

I take it you didn't read the thread or have a bad memory? Did you not see my example of if I was putting my money into a commodity? Or when I spoke about being in a stable financial/living position? Etc.....

I am not completely debt free as I still have a bit of a student loan. It's no where near a big as many peoples but it will happily sit 'ignored' until I'm in a decent position to pay it back (inb4 uneducated ststorm)

To quote you:

gareth.e said:

Currently unemployed but spotted a kit car for sale online which I havent stopped eyeing up since I last week.. It will mean I wipe all my savings and have to live on bread and water until I get a job, motivation prehaps?

How does that mean you are financially stable, if you have blown all your savings on it? You may be financially stable now, but then you wouldn't be. Also I'd argue not having a job would not be financially stable, as again you do not know when you will get one (especially if you'll disappear travelling later in the year).

The thing is a car is probably a bigger risk, in that you could lose everything, and you would invest more with no return (petrol/ parts etc). Personally I would just keep the money for paying a deposit, and have it somewhere that is lower interest but risk free. A small amount I would put in a higher risk place, but to risk your entire savings?

Don't get me wrong, it's really good you've managed to save, so many other people my age have just wasted everything. Just why waste it now? (Obviously you didn't, but the original question which people answered said you were considering it).

You keep saying the kit car would not lose you money, but how can you confirm the engine won't let go a month after you buy it?

The bread and water part was a piss take, but I would have to be careful about spending as savings would be rather low. The reason the car appealed to me was because it was under priced and even if I spent money on it it would be likely I wouldn't lose a penny.

I am stable in the sense I don't have mortgage or rent payments to make that would render me homeless unlike many people. If I was to run a kit car as my only car I would actually be better off in the sense the insurance is less than 1/3 of my current car.

The thread was created because if I went though with it, I would have been a BOLD move, which wouldn't have seemed logical unless the situation was analysed.

[gareth.e]

eg Watermelon said:

The part where I didn't buy a kit car.

Erm, i said this - on a item which will lose money and go on to cost you in the future - i know you have now said you won't but you started this thread. You quoted it if you don't believe me...

The part where the kit car would really struggle to lose me money. (unless I spent 2k on it)

..and how do you know it won't lose money? What if it dies, what if it gets stolen/crashed and insurance don't pay out? It's an unknown....

The part where I explained MY position, not yours.

What position? Moved back home after uni? Some lame attempt to say going travelling, but you were going to buy a car? Uemployed?

The part where I explained the circumstances why people rent.

Something you clearly no nothing about

Etc etc etc


Edit: and it really does sound like you want a medal for 'standing on your own two feet'

WELL DONE YOU!

More evidence of childish behaviour, ladies & gentlemen...

I haven't got a clue what you've bodged together there..

Why wouldn't insurance pay out for theft or a prang?

I've already said it would take exceptional circumstances for me to lose money

Yes my situation is living at home rent free, do you have an issue with me living with my parents? I can't comment on your upbringing but I don't mind living with my parents.

Yes I'm going traveling because I didn't purchase a car. It's the best time to go when I don't have a mortgage or kids or responsibilities etc

I still don't know what your post was trying to show?

[gareth.e]

Biker's Nemesis said:

He's only 22, hopefully like he may have took onboard what people have been saying.

I've got a 20 year old son, I would say I was happy still having him at home but I'd be wishing he'd be gone soon.

I was 20 when I moved out into a rented gaff. I was 25 when i got my arse onto the property ladder.

I've been in full time education up until the age of 21. I moved out for 3 years whilst at uni 18-21. Why do people have a problem with me living at home until I go traveling and secure a deposit on a house.

I haven't taken anything in this thread on board. My decision was made before this thread was revived and the bullst began.

At the end of the day only I know the financial implications and can weigh up the 'risks' of purchasing a kit car.

I'm sure many of you forgot to even consider the fact I would save up to £700 by being insured on only a kit car compared to my current car

[gareth.e]

matthewg said:

HereBeMonsters said:

As long as your mummy loves you, that's all that matters.

I fink mummy and daddy love him vewy much

Indeed, these posts just confirm you're envious of my current situation.

[gareth.e]

doogz said:

gareth.e said:

I've been in full time education up until the age of 21. I moved out for 3 years whilst at uni 18-21. Why do people have a problem with me living at home until I go traveling and secure a deposit on a house.

I haven't taken anything in this thread on board. My decision was made before this thread was revived and the bullst began.

At the end of the day only I know the financial implications and can weigh up the 'risks' of purchasing a kit car.

I'm sure many of you forgot to even consider the fact I would save up to £700 by being insured on only a kit car compared to my current car

Indeed, kit cars are usually cheaper to insure, as well as being more reliable, requiring less general maintenance and repair work...

That's why loads of people use them as daily drivers.

You haven't taken anything on board, so you still stand by all the chlidish spoiled nonsense you've spouted so far?

Kit car is under priced. if it needed $$$ spent on it it wouldn't be an issue.

I would be willing to throw labour at it so its just parts which aren't going to amount to more than 1k or so

Fuel economy would actually be better than my current car.

Insurance is MUCH cheaper, if you didn't know then you really haven't got a clue.

[gareth.e]

Greg_D said:

menguin said:

People seem to think that because they learned the life lessons, all they need to do is tell someone what they learnt - and the young person will immediately recognise it and learn from it...Ask yourself - if someone told you the same info when you were younger, would you have thought "Ok, I'll save the money and be sensible".

hopefully...

i can see why the OP is thinking the way he does, i don't agree with it, but i can understand it.

A lot comes from the parents and how they have brought the kid up.

My parents are well off, i recognised this as a youngun and because they involved me with a lot of the life decisions that they made and told me about their work/family/encouraged me to read the papers etc. i was exposed to more than the average 'cause and effect' in life. This really shaped my thinking during the daft late teens/early twenties stage.

i have told this story before, but i feel that it is relevant here.

I wanted (and i mean REALLY wanted) an impreza when i was younger. i had most of the money in the bank and would have needed a teeny little loan to get there, i had specced the car, everything, i was about to pull the trigger and i remembered my mom saying to me as a littlun (i don't know, about 14 - i was always car mad) that when i have worked really hard to earn money that i won't want to blow it all on a car. I thought about all the hours of work i had done to get my nest egg together and you know what, she was right.

I kept the cash in the bank and carried on saving, when my girlfriend (now wife) and i started discussing living together we did the sums and found to our delight that between us, we had enough deposit to buy a nice semi in a nice area, we did so, did it up, made money, remortgaged, sunk money into a business venture which grew, brought a plot of land, built it using the spare time afforded by owning your own business, made a load, business going REALLY well, brought a mindblowing piece of land and built my current house that is now comfortably into 7 figures value wise and a business that is still growing strong to support all the travelling and material things i could ever want.

Without wishing to sound vulgar, we are set. i am 34.

and it all came about because i didn't buy that impreza, it's as simple as that. If i had, i wouldn't have been able to afford the deposit on the house, the business would never of happened, so i would probably be renting or possibly living somewhere a bit rubbish with no business but a reasonably new car on the drive being paid for on the drip.

I did live rent free with my olds, nothing wrong with that, you take the olive branches as they appear, there is no benefit to being stupidly proud. But during that period, i worked hard and saved, out of respect to them as much as anything else and it paid off.

I know that the urge to get nice things in order to get one up on your mates is really strong, but please, recognise that when an opportunity comes round the corner, you need to be in a position to act, being potless, even if you have no debt, will give you no options in life, you will become another grey little wage slave living a boring suburban life wondering where it all went wrong.

The ball's in your court.

I really wanted an 04 wrx sti with the ppp in black.

I could have done it last year but it would have emptied my account.

So I bought a 306 gti6 and insurance for less than just the insurance for the impreza.

I'm not an idiot.

Edit: I went out and test drove one btw

[gareth.e]

HereBeMonsters said:

gareth.e said:

Why do people have a problem with me living at home until I go traveling and secure a deposit on a house.

Because of your attitude.

What you're doing is what a great deal of people do, but they somehow seem more grateful for the opportunity.

I think the main cause of the vitriol is the way you have presented your lifestyle choice, and the fact that most of us did not benefit from such luxuries when we were growing up, far less take them for granted as you seem to be doing.

Sure, you've probably worked hard for that money, and want to spend it on something nice for yourself. I can see the attraction in that - owning a "special" car at a young age is always a nice idea, but consider why most people don't. It's not because they can't - they probably could if they were living rent free, no bills, no grocery shopping to do etc. - but because they have their priorities. Having a flash car and living with your parents is a bit of a social faux pas, I would say.

Have fun on your big holiday.

I think your attitude would be exactly the same if you were 'attacked' on a forum.

I'm happy to reply to keep replying but its getting to the point where we should all just agree to disagree.

[gareth.e]

doogz said:

gareth.e said:

Kit car is under priced. if it needed $$$ spent on it it wouldn't be an issue.

I would be willing to throw labour at it so its just parts which aren't going to amount to more than 1k or so

Fuel economy would actually be better than my current car.

Insurance is MUCH cheaper, if you didn't know then you really haven't got a clue.

Lol.

You're really not so bright.

Please state what is factually incorrect.

I look forwards to hearing from you.

[gareth.e]

cheesesliceking said:

You buying or not ?

ignore the mardy middle aged men with giant chips on their shoulders!

Before the thread was revived I decided against it, the car I wanted went and I decided I might aswell wait now as similar spec ones won't come up for another life time anyway

[gareth.e]

Greg_D said:

gareth.e said:

Greg_D said:

menguin said:

People seem to think that because they learned the life lessons, all they need to do is tell someone what they learnt - and the young person will immediately recognise it and learn from it...Ask yourself - if someone told you the same info when you were younger, would you have thought "Ok, I'll save the money and be sensible".

hopefully...

i can see why the OP is thinking the way he does, i don't agree with it, but i can understand it.

A lot comes from the parents and how they have brought the kid up.

My parents are well off, i recognised this as a youngun and because they involved me with a lot of the life decisions that they made and told me about their work/family/encouraged me to read the papers etc. i was exposed to more than the average 'cause and effect' in life. This really shaped my thinking during the daft late teens/early twenties stage.

i have told this story before, but i feel that it is relevant here.

I wanted (and i mean REALLY wanted) an impreza when i was younger. i had most of the money in the bank and would have needed a teeny little loan to get there, i had specced the car, everything, i was about to pull the trigger and i remembered my mom saying to me as a littlun (i don't know, about 14 - i was always car mad) that when i have worked really hard to earn money that i won't want to blow it all on a car. I thought about all the hours of work i had done to get my nest egg together and you know what, she was right.

I kept the cash in the bank and carried on saving, when my girlfriend (now wife) and i started discussing living together we did the sums and found to our delight that between us, we had enough deposit to buy a nice semi in a nice area, we did so, did it up, made money, remortgaged, sunk money into a business venture which grew, brought a plot of land, built it using the spare time afforded by owning your own business, made a load, business going REALLY well, brought a mindblowing piece of land and built my current house that is now comfortably into 7 figures value wise and a business that is still growing strong to support all the travelling and material things i could ever want.

Without wishing to sound vulgar, we are set. i am 34.

and it all came about because i didn't buy that impreza, it's as simple as that. If i had, i wouldn't have been able to afford the deposit on the house, the business would never of happened, so i would probably be renting or possibly living somewhere a bit rubbish with no business but a reasonably new car on the drive being paid for on the drip.

I did live rent free with my olds, nothing wrong with that, you take the olive branches as they appear, there is no benefit to being stupidly proud. But during that period, i worked hard and saved, out of respect to them as much as anything else and it paid off.

I know that the urge to get nice things in order to get one up on your mates is really strong, but please, recognise that when an opportunity comes round the corner, you need to be in a position to act, being potless, even if you have no debt, will give you no options in life, you will become another grey little wage slave living a boring suburban life wondering where it all went wrong.

The ball's in your court.

I really wanted an 04 wrx sti with the ppp in black.

I could have done it last year but it would have emptied my account.

So I bought a 306 gti6 and insurance for less than just the insurance for the impreza.

I'm not an idiot.

Edit: I went out and test drove one btw

you can lead a horse to water...

Enjoy the kit car, i give up.

That comment just goes to show you haven't listened to what I've said. You've just based it on little bits of outdated text.

The kit car I was looking to purchase as an asset has gone.

I'm not looking to fk myself over into debt

Edited by gareth.e on Wednesday 11th May 13:55

[gareth.e]

doogz said:

gareth.e said:

doogz said:

gareth.e said:

Kit car is under priced. if it needed $$$ spent on it it wouldn't be an issue.

I would be willing to throw labour at it so its just parts which aren't going to amount to more than 1k or so

Fuel economy would actually be better than my current car.

Insurance is MUCH cheaper, if you didn't know then you really haven't got a clue.

Lol.

You're really not so bright.

Please state what is factually incorrect.

I look forwards to hearing from you.

Non of it is factually incorrect. Or at least, it might be, i dunno, having no idea what said kit car and it's mpg and reliability capabilities are.

I was more referring to the fact that you sort of missed the point, you seem to have had a sense of humour bypass.

Well for a start look up the mpg and fuel consumption reviews on a 306 gti 6 and tell me if you think a kit car would do much worse..

[gareth.e]

Steve Evil said:

Outdated text? You posted it about 15 minutes ago. The point he was making was how he saved the money and used it wisely. All you seemed to pick up on was the fact he wanted an Impreza, you even test drove one...

Why would the kit car not be a wise move.

It was way under priced

Insurance was 700 cheaper

Probably better mpg if drove sensibly

It could go wrong and I still wouldn't lose money

I mentioned the impreza because I could relate to him. I bought a much cheaper car despite it not being exactly what I want.

I wouldn't spunk my savings if I didn't think I would get all the money back

Etc

[gareth.e]

doogz said:

gareth.e said:

Well for a start look up the mpg and fuel consumption reviews on a 306 gti 6 and tell me if you think a kit car would do much worse..

My mates kit car has a 2.0 turbo YB Cosworth engine.

How long is a piece of string?

Seriously, you'd be best off just asking a Mod nicely to close this thread, or just stop posting in it.

Correct, only I know the what car it was and I'm telling you it would have been better on Fuel.

[gareth.e]

spurs-442 said:

gareth.e said:

Why would the kit car not be a wise move.

It was way under priced

Insurance was 700 cheaper

Probably better mpg if drove sensibly

It could go wrong and I still wouldn't lose money

I mentioned the impreza because I could relate to him. I bought a much cheaper car despite it not being exactly what I want.

I wouldn't spunk my savings if I didn't think I would get all the money back

Etc

Can you please explain this one.

As explained in my post the car was UNDER PRICED

[gareth.e]

spurs-442 said:

gareth.e said:

Why would the kit car not be a wise move.

It was way under priced

Insurance was 700 cheaper

Probably better mpg if drove sensibly

It could go wrong and I still wouldn't lose money

I mentioned the impreza because I could relate to him. I bought a much cheaper car despite it not being exactly what I want.

I wouldn't spunk my savings if I didn't think I would get all the money back

Etc

Can you please explain this one. As I have read it, it is in working condition, so if something went wrong, how could you sell a faulty car for more than you paid for it?

And if you were to fix it, how would it cost you no money?

Pay to fix it sell it recover all monies. If the car was as described it would take more than an engine failure for me to lose. It's been snapped up by someone lucky

[gareth.e]

cheesesliceking said:

gareth.e said:

Before the thread was revived I decided against it, the car I wanted went and I decided I might as well wait now as similar spec ones won't come up for another life time anyway

Bad luck chap, :O(
Are you after something else now?

Apologies if i've missed all this, tricky to plough thruogh all the back handed bhyness and bitterness from people old enough to know better!

I've decided to wait until I can move out and get a mortgage now so its going to be a while!

[gareth.e]

doogz said:

gareth.e said:

doogz said:

gareth.e said:

Well for a start look up the mpg and fuel consumption reviews on a 306 gti 6 and tell me if you think a kit car would do much worse..

My mates kit car has a 2.0 turbo YB Cosworth engine.

How long is a piece of string?

Seriously, you'd be best off just asking a Mod nicely to close this thread, or just stop posting in it.

Correct, only I know the what car it was and I'm telling you it would have been better on Fuel.

Ok. I never said it wouldn't be.

You're just arguing for arguing's sake now, aren't you?

Yes I am, are you?

[gareth.e]

MX5guy said:

gareth.e said:

As explained in my post the car was UNDER PRICED

Obviously there's no problems with this logic at all.

Except that the car was underpriced due to the previous owner ragging it from cold. You buy the car and a month in the engine goes due to how it was treated before you. No money lost, as even though it was underpriced you could sell it at the normal price for these cars...

Obviously made up, but how do you know that's not what would have happened?

Correct I would depend if the car was as described and if it was abused. The good thing about the price was if it ended up blowing I don't think I would be at a loss.