How much did you save up and what for??
Discussion
This isnt a thread to buy a barge, old shed etc - but something around 20k (ish, so please no hijacking or quote of "cash is king!" - thankyou.
With most sporty cars now coming in at 20k and over, just wanted to know how many of you actually saved up for your purchase? I've always purchased cars with a small amount of cash (2-3k)and a bankloan, with my monthly payments tracking the depreciation of the car. To date its never been a problem. (come to think of it Ive done that with all my cars over the last 20 years!).
I appreciate that Ive paid more in interest and accept that. Just got me thinking, what was the most expensive car you purchased from actually saving up ££? This doesnt include a sudden windfall, selling a kidney or your house to avoid any part of finance, but plodding on month after month to purchase the car you always wanted.
This is really a test for the "Cash is King" lot of you out there!!
I could probably last about 4 months before I get bored and just borrow the cash to get it!
With most sporty cars now coming in at 20k and over, just wanted to know how many of you actually saved up for your purchase? I've always purchased cars with a small amount of cash (2-3k)and a bankloan, with my monthly payments tracking the depreciation of the car. To date its never been a problem. (come to think of it Ive done that with all my cars over the last 20 years!).
I appreciate that Ive paid more in interest and accept that. Just got me thinking, what was the most expensive car you purchased from actually saving up ££? This doesnt include a sudden windfall, selling a kidney or your house to avoid any part of finance, but plodding on month after month to purchase the car you always wanted.
This is really a test for the "Cash is King" lot of you out there!!
I could probably last about 4 months before I get bored and just borrow the cash to get it!
Never seen the economical side of finance for a vehicle. Saved up £7k to buy a Leon once, or 6.4k for my current car.. Because I don't have monthly payments on my car now, the monthly amount I would be spending can be put into a savings account towards my next upgrade, onwards and upwards etc.
Saved up around 30K to buy my 911. Took around 15 months, starting with about 13-14K from a house sale. Worth the wait in my opinion! Set yourself a target for how much you want to save, and you'll find that by the time you have the cash, you can either buy the car you wanted for less (assuming 2nd hand) or something even better!
Well seeing as I've only been driving 4 years my most expensive car was my first. I saved up 10k which covered the car and insurance and bought a nice virtually new 08 clio 1.2 TCE mk3 which had done about 4000 miles. At the time it was a fairly large purchase considering I was only 18 and was perfect as a young driver (im now 22), it's relatively spacious for a 'small car', comfortable, had aircon and a nice panoramic sunroof and is big enough to chuck my mountain bike in the back
. I paid for the car and the insurance outright all from savings from work.
Currently looking to save up 20k for an upgrade
I prefer to buy things outright as personally I always think it feels like more of an achievement.

Currently looking to save up 20k for an upgrade

Whitean3 said:
Saved up around 30K to buy my 911. Took around 15 months, starting with about 13-14K from a house sale. Worth the wait in my opinion! Set yourself a target for how much you want to save, and you'll find that by the time you have the cash, you can either buy the car you wanted for less (assuming 2nd hand) or something even better!
maloner said:
Saved up around 30K to buy my 911. Took around 15 months, starting with about 13-14K from a house sale. Worth the wait in my opinion!

In 22 years of driving I have always bought cars cash.
The most I have ever paid for a car was £2200 for my G reg MX-5 that I have now had 8 years. The least I have paid was £140 for a B reg Nova Saloon that lasted 18 months before it went bang. I generally pay around £700 - £1300 for a car. As I like having more that 1 car thats the reason for spending these paltry amounts. No way I could afford to buy 3 cars on finance. Plus there is nothing modern that I like....
The most I have ever paid for a car was £2200 for my G reg MX-5 that I have now had 8 years. The least I have paid was £140 for a B reg Nova Saloon that lasted 18 months before it went bang. I generally pay around £700 - £1300 for a car. As I like having more that 1 car thats the reason for spending these paltry amounts. No way I could afford to buy 3 cars on finance. Plus there is nothing modern that I like....
Whitean3 said:
Saved up around 30K to buy my 911. Took around 15 months, starting with about 13-14K from a house sale. Worth the wait in my opinion! Set yourself a target for how much you want to save, and you'll find that by the time you have the cash, you can either buy the car you wanted for less (assuming 2nd hand) or something even better!
maloner said:
Saved up around 30K to buy my 911. Took around 15 months, starting with about 13-14K from a house sale. Worth the wait in my opinion!
WTF!I saved up £5100 for my BMW over 18months (whilst running my Pug) I then got a £9500 loan over 3years (total interest £952) and that covered the cost of the car, a service and my insurance for the year 
Oddly, with the way Admiral insurance works if I had paid monthly I would have paid an extra £800 over the year. So basically, with a touch of man maths, getting the loan to cover the insurance has almost made its money back within 1year

Oddly, with the way Admiral insurance works if I had paid monthly I would have paid an extra £800 over the year. So basically, with a touch of man maths, getting the loan to cover the insurance has almost made its money back within 1year

I paid for my first car outright which cost me 5k, a Peugeot 306. The second was my Z4, I used cash from the Peugeot and saved the rest. Same story for the 3-Series. I then saved up around 30K to buy my 911. Took around 15 months, starting with about 13-14K from a house sale.
Worth the wait in my opinion!
Worth the wait in my opinion!
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