2manycarz Garage

[p1stonhead]

It’s certainly not a looker. But I think pete was going for rare old ferraris in general hence the reason it seemed like a no brainer to me for him?

[WCZ]

Greg_D said:

i'm also not persuaded by that ferrari, all the 'stuff' below the colour seems wrong, the visual pipes and snooty nose also aren't quite right.

All IMO, obviously.

While we're on about knuckle biting beauty, how about this:

https://www.coys.co.uk/cars/1967-alfa-tipo-33-stra...

nice.

[giblet]

Given Harris Monkeys recent prediction of the arse falling out of the higher end market would it not be wise to wait and pick stuff up ‘on the cheap’?

[anonymous-user]

giblet said:

Given Harris Monkeys recent prediction of the arse falling out of the higher end market would it not be wise to wait and pick stuff up ‘on the cheap’?

It will happen, nothing sustains growth for that long without a hiccup. The prices of somethings are beyond the pail of sanity. That and when HMRC bring in capital gains tax on the market...

[ferrisbueller]

At which point there will be tax relief on depreciation?

[Church of Noise]

Something to do with you Pete?
https://www.dkeng.co.uk/ferrari-sales/1109/blue_ch...

[anonymous-user]

ferrisbueller said:

At which point there will be tax relief on depreciation?

There already is to an extent if you are a business. However, you don't get tax relief if your house loses value as far as I'm aware, it would have to a if you buy a Ferrari for 1.1 mill and sell it for 1.8 mill and the same year you buy a Mclaren for 1 mill and sell it for 500k, then you might be able to get CGT relief but I would image its designed to punish only those whos cars are 'investments' and not run of the mill mechanical deprecation.

[pingu393]

Lord-Haggis said:

ferrisbueller said:

At which point there will be tax relief on depreciation?

There already is to an extent if you are a business. However, you don't get tax relief if your house loses value as far as I'm aware, it would have to a if you buy a Ferrari for 1.1 mill and sell it for 1.8 mill and the same year you buy a Mclaren for 1 mill and sell it for 500k, then you might be able to get CGT relief but I would image its designed to punish only those whos cars are 'investments' and not run of the mill mechanical deprecation.

Would it simply be an additional box on the V5C? Would DVLA trust a used car salesman to be honest?

[OzzyR1]

Church of Noise said:

Something to do with you Pete?
https://www.dkeng.co.uk/ferrari-sales/1109/blue_ch...

Such a pretty thing, simple, uncluttered design lines and that side-profile in Photo 6 is just lovely to my eyes.

Funny that there appears to be a big f"k-off rubber mallet in the tool kit though!!

[RSVR101]

OzzyR1 said:

Church of Noise said:

Something to do with you Pete?
https://www.dkeng.co.uk/ferrari-sales/1109/blue_ch...

Such a pretty thing, simple, uncluttered design lines and that side-profile in Photo 6 is just lovely to my eyes.

Funny that there appears to be a big f"k-off rubber mallet in the tool kit though!!

To get the wheel spinners of I believe, no nuts!

[Voldemort]

OzzyR1 said:

Funny that there appears to be a big f"k-off rubber mallet in the tool kit though!!

[

[ferrisbueller]

Lord-Haggis said:

ferrisbueller said:

At which point there will be tax relief on depreciation?

There already is to an extent if you are a business. However, you don't get tax relief if your house loses value as far as I'm aware, it would have to a if you buy a Ferrari for 1.1 mill and sell it for 1.8 mill and the same year you buy a Mclaren for 1 mill and sell it for 500k, then you might be able to get CGT relief but I would image its designed to punish only those whos cars are 'investments' and not run of the mill mechanical deprecation.

Can't make sense of your post. AIUI If something is a chargeable asset then it's in scope of capital gains. CGT can apply to houses, shares etc. The 50 year lifespan puts cars outside of that consideration at present. Treating cars like investment properties would be somewhat complicated and flawed IMO e.g. in terms of matters such as proof of ownership, tracking transactions etc. No doubt someone is looking at it but it's not straightforward and given the proportion of vehicles that potentially do go up, how many people own them etc the revenue might not be worth the effort.

[Swampy1982]

Theres only CGT that's should be talked about in this thread and it's not Captial Gains Tax!

Hope your enjoying the new addition to the family Pete.

[quigonjay]

Low mileage, RHD LFA for sale in Japan

http://www.rosso-autosports.co.jp/archives/91481

[Pommy]

quigonjay said:

Low mileage, RHD LFA for sale in Japan

http://www.rosso-autosports.co.jp/archives/91481

Theres 2 RHD here in Australia for sale. One with 4000kms for £400k, the other with 26k kms for £425k

Www.carsales.com.au

How much is the one in Japan?

[anonymous-user]

At the risk of rattling the cage of the fanboys in this thread, I’ve got a question for Pete that I hope you take in the way it is intended.

You’re clearly a man of means, and it seems like these purchases are made very easily. Doesn’t it get boring, speccing yet another supercar and throwing yet another six figure sum at it? Surely once you’ve done it a few times it doesn’t feel special any more?

Perhaps your Singer you have on order is your answer to this but have you considered a different approach of spending time money and effort making a series of special cars that meant something to you in your youth?

I can’t see me ever being in your financial position, but allowing a little daydreaming then I don’t think I’d feel a sense of satisfaction just ordering the next greatest thing from (insert supercar manufacturer) and having it delivered on a truck.

I’d have a unit somewhere close to home. An oversized man cave if you will. It would have a few ramps and lifts and a well stocked range of tools. I’d enjoy the thrill of the hunt, finding the best 205 GTI, MK2 Golf, Mini Cooper S, E30 M3, E46 M3, 964 RS, 996 GT2, 993 RS, ‘73 2.7 RS, whatever I spent my formative years reading about. I’d then do a Singer-esque money no object nut and bolt rebuild on every one of them to make them perfect. I’d find the best hands in the business and commission the restoration to exactly my specification. I’d be involved in the process day to day, solving problems, making decisions, getting my hands dirty. Wouldn’t that ultimately feel way more special than ticking a spec sheet on whether to pay £20k for a stripe on a bonnet or £8k for some yellow stitching?

Maybe I’m so far off understanding the position that this kind of wealth puts you in, and I mean no offence when I say this, but a lot of the cars mentioned in this thread wouldn’t spark my interest and just seems like a ‘I’ve got loads of money I’ll have one of them next’ kind of exercise.

Do your cars feel personal to you or just feel like inanimate disposable objects? Are you ok with that? Do you think you would find whatever it is petrolheads seek by paring down the collection and making them way more about you and your relationship with them? Surely you rarely get time to drive or spend any time in or around all the cars you currently own which begs me to ask the question, why own them?

[LanceRS]

If you go back through the thread, this has all been explained by the Op.

[J4CKO]

I think until you are in the position, its difficult to say how you would do things as I guess you get a different viewpoint and the realities of it may not be how you imagine. Also, we are all different, Pete often mentions that he is Autistic, which will have an effect on how he does stuff compared to someone who isnt on the Spectrum, and even then you cant predict how that aspect influences things.

I tend to get a bit overwhelmed if I have loads of stuff, like I am not making the best use of it, but it may be because with my budget I have to get value out of my purchases, with more means, I may be more relaxed about it ?

I like to get my hands dirty, I find it brings a satisfaction that buying stuff doesnt, but not everyone wants to grub out under cars, some folk only enjoy that aspect, restore something, then flog it to do the next one as the owning and driving bit doesnt interest them. I suspect I would buy and sell cars rather than hang onto them, maybe keep the odd ones I really like.

My main barrier to buying loads of cars is generally Mrs J4CKO in reality

[smifffymoto]

The older I get ,the more I want to get rid of stuff.Having loads of money would seriously mess with my head.

[anonymous-user]

ferrisbueller said:

Lord-Haggis said:

ferrisbueller said:

At which point there will be tax relief on depreciation?

There already is to an extent if you are a business. However, you don't get tax relief if your house loses value as far as I'm aware, it would have to a if you buy a Ferrari for 1.1 mill and sell it for 1.8 mill and the same year you buy a Mclaren for 1 mill and sell it for 500k, then you might be able to get CGT relief but I would image its designed to punish only those whos cars are 'investments' and not run of the mill mechanical deprecation.

Can't make sense of your post. AIUI If something is a chargeable asset then it's in scope of capital gains. CGT can apply to houses, shares etc. The 50 year lifespan puts cars outside of that consideration at present. Treating cars like investment properties would be somewhat complicated and flawed IMO e.g. in terms of matters such as proof of ownership, tracking transactions etc. No doubt someone is looking at it but it's not straightforward and given the proportion of vehicles that potentially do go up, how many people own them etc the revenue might not be worth the effort.

Given the price of some vintage watches and cars and the gain in value you could easily see them re-classified as 'antiques' or works of art, given that many are seldom used for their intended purpose anymore, it could easily happen once the emissions laws become tight enough to restrict their indetend purpose. Certainly, non-road legal vintage race cars and the like could easily have a CGT tax class devised for them.