Price now

[Chinski]

I read somewhere that a Taimar Turbo new was approximately £7k when new and that kind of money must of been a small house? Obliviously the cars are worth more now 30 plus years later. However I started to wonder how much is £7k worth now in today's money. I would guess its probably £35k?


Is there someone out there who can work out how much money £7K is worth in today's terms.

[GadgeS3C]

Good guess - £36k according to the calculator below - assuming £7k in 1976.

Quiet a few inflation calculators online

£36k seems quite reasonable comparatively today.

[blaze_away]

Using ONS statistics.

£7000 in October 1976 assuming inflation based on RPI, % change over 12 months October to October each year then its actually £41,189.15

Edited by blaze_away on Sunday 21st October 16:48

[pridaux]

with the average wage in 1978 as £5440 and today at £34000 (though i am sure many whish they where earning £34K today) then that would make a Taimar new today at £47600 however you do have to take into account that since 1978 the gap between lower paid workrs and the middle income brackets has closed hence bringing the average up some what.
However modern automation etc would probably bring it under £40k with modern features etc that would be included at that price.
sure this will bring an interesting discussion.
Andrew

[GadgeS3C]

Hmmm, I thought that was too easy!

Trying a different net calculator gave £45k. £36k did seem rather cheap.

Makes forward projections a bit of a joke when folks can't even agree on past inflation rates!

[GadgeS3C]

blaze_away said:

Using ONS statistics.

£7000 in October 1976 assuming inflation based on RPI, % change over 12 months October to October each year then its actually £41,189.15

Edited by blaze_away on Sunday 21st October 16:48

That's cheating - I sure that was £60k+ a moment ago

[blaze_away]

GadgeS3C said:

blaze_away said:

Using ONS statistics.

£7000 in October 1976 assuming inflation based on RPI, % change over 12 months October to October each year then its actually £41,189.15

Edited by blaze_away on Sunday 21st October 16:48

That's cheating - I sure that was £60k+ a moment ago

WELL SPOTTED.....Yeah, I messed up 1st time round, I calculated it from 1973 to ytd, inflation 73 to 76 was horrendous btw.

[GadgeS3C]

No problem - pleased the range wasn't quite as big. Scary inflation '73-'76 though to make that much difference!

[blaze_away]

GadgeS3C said:

No problem - pleased the range wasn't quite as big. Scary inflation '73-'76 though to make that much difference!

FYI These are the official figures, I remember those days, massive pay rises but still couldn't keep up with price rises.

Month Year % change in RPI
Oct-73 9.90
Oct-74 17.10
Oct-75 25.90
Oct-76 14.70
Oct-77 14.10
Oct-78 7.80
Oct-79 17.20
Oct-80 15.40
Oct-81 11.70
Oct-82 6.80
Oct-83 5.00
Oct-84 5.00
Oct-85 5.40
Oct-86 3.00
Oct-87 4.50
Oct-88 6.40
Oct-89 7.30
Oct-90 10.90
Oct-91 3.70
Oct-92 3.60
Oct-93 1.40
Oct-94 2.40
Oct-95 3.20
Oct-96 2.70
Oct-97 3.70
Oct-98 3.10
Oct-99 1.20
Oct-00 3.10
Oct-01 1.60
Oct-02 2.10
Oct-03 2.60
Oct-04 3.30
Oct-05 2.50
Oct-06 3.70
Oct-07 4.20
Oct-08 4.20
Oct-09 -0.80
Oct-10 4.50
Oct-11 5.40
Oct-12 2.40

[pridaux]

Yes the inflation rates at those times where amazing compared to today unfortunatly looking back my pocket money at the time did not keep up maybe i should apply for a refund from Dad plus interest at the 1990s rate LOL
Andrew

[Chinski]

I do remember my old boss telling me a story about buying his new 3000m for around £3.5K and selling it 4 years later for around the same price. He also went to to say that the turbo was well away from his reach even though he did have a well paid job at the time.

I guess that whatever the inflation figures these car were classed as a real luxury item. Nothing changes?

[62GRANTIII]

I was, for over eleven years, proud owner of the last M Turbo 4938FM. Built in Nov 1979, first registered as EB 282, 01/01/80 cost new £12,300. They even charged a fiver for anti freeze.
Eric Bth bought several new Turbo's, all had same plate on them. One a blue M turbo which was later modified to SE spec by factory, was last time I saw it registered BOF 246T. Previously TVR 6 when Dave Fid was using it.
Another was a black & red M turbo which was on front cover of sprint many years ago registered BUA I think, on an S plate. There were more!!
Doubt if anybody else bought more new Turbo's, a large percentage of the 64 built.
I am rambling on, but to get back on post,12k was a fortune in 1980, it would buy alot!!!
Cheers Ian

[DavidY]

Especially in the 'grim' north lad.

davidy 'youth from south'

[longone]

Those feeling left out by being unable to remember the price inflation of the mid 70s shouldn't worry. You will live through something much worse in the UK in the coming years. Monetary history is an interest of mine and I would recommend reading more about it if it grabs yours. Sorry to be depressing, I wish it wasn't so.
Colin.

[Chinski]

Colin,

Please let us know what else can go wrong for us financially? It seems we haven't seen the worst?
.

[Adrian@]

62GRANTIII said:

I was, for over eleven years, proud owner of the last M Turbo 4938FM. Built in Nov 1979, first registered as EB 282, 01/01/80 cost new £12,300. They even charged a fiver for anti freeze.
Eric Bth bought several new Turbo's, all had same plate on them. One a blue M turbo which was later modified to SE spec by factory, was last time I saw it registered BOF 246T. Previously TVR 6 when Dave Fid was using it.
Another was a black & red M turbo which was on front cover of sprint many years ago registered BUA I think, on an S plate. There were more!!
Doubt if anybody else bought more new Turbo's, a large percentage of the 64 built.
I am rambling on, but to get back on post,12k was a fortune in 1980, it would buy alot!!!
Cheers Ian

Hi Ian...BUA 166S...but didn't Peter Wheeler have three?
Adrian@
Yes please to the money soothsaying, any help would be a benefit. LOL

Edited by Adrian@ on Monday 22 October 22:25

[Moto]

longone said:

Those feeling left out by being unable to remember the price inflation of the mid 70s shouldn't worry. You will live through something much worse in the UK in the coming years. Monetary history is an interest of mine and I would recommend reading more about it if it grabs yours. Sorry to be depressing, I wish it wasn't so.
Colin.

Oh . I was convinced there would be a crash in house prices making cash worth more. Back to the drawing board then ....

[longone]

Chinski said:

Colin,

Please let us know what else can go wrong for us financially? It seems we haven't seen the worst?
.

Well, that is my opinion but who am I? So, if you have an interest and want to read, I'll post you a book list from peer reviewed authors and monetary historians. Just ask.
Colin.

[longone]

Moto said:

longone said:

Those feeling left out by being unable to remember the price inflation of the mid 70s shouldn't worry. You will live through something much worse in the UK in the coming years. Monetary history is an interest of mine and I would recommend reading more about it if it grabs yours. Sorry to be depressing, I wish it wasn't so.
Colin.

Oh . I was convinced there would be a crash in house prices making cash worth more. Back to the drawing board then ....

I wouldn't rule out a move in average UK house prices up or down. But, unless it's the one you need to live in, it's the value of the house that matters not the price in GBP. Against some commodity classes the average UK house has lost over 75% of its value since 2008. They don't mention that on the BBC.
Colin.