How much did you save up and what for??
How much did you save up and what for??
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Four Litre

Original Poster:

2,174 posts

210 months

Tuesday 12th June 2012
quotequote all
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!

PanzerCommander

5,026 posts

236 months

Tuesday 12th June 2012
quotequote all
I've never saved up for a car always bought using a loan/finance (except my first car which cost £200), generally no more than a £1000 cash deposit plus previous car.

Riknos

4,701 posts

222 months

Tuesday 12th June 2012
quotequote all
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.

Whitean3

2,194 posts

216 months

Tuesday 12th June 2012
quotequote all
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!

Tyy

268 posts

161 months

Tuesday 12th June 2012
quotequote all
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 smile. I paid for the car and the insurance outright all from savings from work.

Currently looking to save up 20k for an upgrade biggrin I prefer to buy things outright as personally I always think it feels like more of an achievement.

maloner

3 posts

160 months

Tuesday 12th June 2012
quotequote all
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!

Matthen

1,400 posts

169 months

Tuesday 12th June 2012
quotequote all
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!
scratchchin


CraigyMc

17,955 posts

254 months

Tuesday 12th June 2012
quotequote all
>60K, and not decided yet.

C

MGgeordie

939 posts

202 months

Tuesday 12th June 2012
quotequote all
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....

TheTurbonator

2,792 posts

169 months

Tuesday 12th June 2012
quotequote all
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!

kambites

70,082 posts

239 months

Tuesday 12th June 2012
quotequote all
I saved up 16k to buy my Elise. Took me a couple of years.

Jasandjules

71,495 posts

247 months

Tuesday 12th June 2012
quotequote all
CraigyMc said:
>60K, and not decided yet.

C
Buy a DB9 Volante.

Problem solved.

v8will

3,308 posts

214 months

Tuesday 12th June 2012
quotequote all
Not alot, maybe my Yaris which was £4600

I get more of a kick running around in much cheaper cars which leaves no bitterness after paying a finance agreement every month, depreciation etc.


pork911

7,365 posts

201 months

Tuesday 12th June 2012
quotequote all
I've never paid interest to jump on a falling stone.

StottyZr

6,860 posts

181 months

Tuesday 12th June 2012
quotequote all
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 smile

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 nerd

falkster

4,258 posts

221 months

Tuesday 12th June 2012
quotequote all
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!

80sboy

452 posts

175 months

Tuesday 12th June 2012
quotequote all
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!

Ginger goblin

368 posts

190 months

Tuesday 12th June 2012
quotequote all
I saved up around 30K to buy my house. Took around 15 months, starting with about 13-14K from a 911 sale.

Worth the wait in my opinion!


TheTurbonator

2,792 posts

169 months

Tuesday 12th June 2012
quotequote all
hehe

Rob P

5,801 posts

282 months

Tuesday 12th June 2012
quotequote all
I spent £30k on a 911 once. I lost money on a house sale so had no spare cash, so I took a loan for the whole £30k.

Well worth it in my opinion.