Pension investment

[colinrob]

Hi I have decided at 55 to cash in on my pension and invest in happiness i.e. A nice car I will have approx £50,000 to spend my shortlist is:- Aston Martin V12, Porsche 997 turbo, R8 v10 but very few around 50k also considered Bentley continental wantt a car that will reasonably hold its value and not cost a fortune to run I don't mean on fuel insurance etc just reliability will probably do max of 4000 miles a year as we have an SQ5 as the main car my heart is towards the R8 any other thoughts bearing in mind my budget my previous quick cars have all been TVR

[FocusRS3]

The three you mention will cost to run quite considerably . Weigh this up against likely depreciation of a so called 'lesser marque' .

A minor service without anything needed on a 997 turbo is £500 and they will always find things you need.

To run a turbo for a year I'd say is conservatively 1250 in maintenance and a decent one is more like 60k

How about a bmw M2 used ?
Newer car too

[Escapegoat]

I'm in a similar position, although the other way around. I'm selling a car at this sort of figure because I suspect there's a change in the values of used cars coming before too long. (It's doubled in value in the three years I've had it.) Tricky times...

[colinrob]

Looking at R8 they seem to hold there value extremely well my brother has a 993 Porsche and it is only going up in value, my brother in law has a Bentley whilst going down in value it is not too bad just want a car to enjoy not too concerned about service insurance and fuel used to have a Tuscan and that was £1000 + every service plus rebuilt engine etc just don't want to lose too much M2 will depreciate big time

[TeaVR]

Honda NSX?

[jhonn]

How about a modern Morgan? A friend of mine who's pretty shrewd bought a new one, reliable, reasonable running costs, easy to maintain and fun to drive - they seem to hold their value well too.

[Cupramax]

jhonn said:

How about a modern Morgan? A friend of mine who's pretty shrewd bought a new one, reliable, reasonable running costs, easy to maintain and fun to drive - they seem to hold their value well too.

Yeah my best mates just taken one of the last build slots of the Aero 8 for much the same reason, albeit £90k

[Mo28]

A manual V10 R8 should hold it's value/ lose you little money and may go up in value in the future but I'd give it 5 years or so before it does that

[sim16v]

The right Porsche always holds its value, so that would be where I put my money.

[Uncle Ron]

colinrob said:

Looking at R8 they seem to hold there value extremely well my brother has a 993 Porsche and it is only going up in value, my brother in law has a Bentley whilst going down in value it is not too bad just want a car to enjoy not too concerned about service insurance and fuel used to have a Tuscan and that was £1000 + every service plus rebuilt engine etc just don't want to lose too much M2 will depreciate big time

I'd recommend an Audi R8 V10 Manual - You can get one for around £50k now and in Supercar land you'd be hard pushed to find something that engaging for the money. Big engines are disappearing, manual gearboxes are disappearing - there's no such thing as a safe bet with sports cars because they tend to be luxuries that people drop when the economy falters but you won't go far wrong with that.

I have Ferrari 208 GT4 for sale for roughly that money if you want something more classic...

[RobDown]

If by Aston Martin v12 you mean a Vantage V12, I'm not sure your budget will stretch far enough. Used ones have fallen to 70-75k and values are rock steady, will probably rise from here

Could easily get a nice DB9 though, values seem to trough around the 30-35k mark. Allow £1k a year for servicing plus consumables. Depending on where you live insurance should be circa £500.

Edited by RobDown on Thursday 5th October 08:55

[Siy]

F-Type?

[TwigtheWonderkid]

colinrob said:

Hi I have decided at 55 to cash in on my pension and invest in happiness i.e. A nice car

Obviously we don't know your personal financial situation, nor do we know your state of health. You might have 6 months to live for all we know. But those aspects aside, this doesn't sound like the wisest financial move I've ever heard.

[OddCat]

TwigtheWonderkid said:

colinrob said:

Hi I have decided at 55 to cash in on my pension and invest in happiness i.e. A nice car

Obviously we don't know your personal financial situation, nor do we know your state of health. You might have 6 months to live for all we know. But those aspects aside, this doesn't sound like the wisest financial move I've ever heard.

......is that a can of worms I can hear opening....?

[warcalf]

Any Porsche is likely to hold value better than the rest... Unless the V12 Aston in question turns in to a DB5 like icon.

I'd say Porsche, to be safe.

[Green1man]

colinrob said:

Hi I have decided at 55 to cash in on my pension and invest in happiness i.e. A nice car I will have approx £50,000 to spend my shortlist is:- Aston Martin V12, Porsche 997 turbo, R8 v10 but very few around 50k also considered Bentley continental wantt a car that will reasonably hold its value and not cost a fortune to run I don't mean on fuel insurance etc just reliability will probably do max of 4000 miles a year as we have an SQ5 as the main car my heart is towards the R8 any other thoughts bearing in mind my budget my previous quick cars have all been TVR

Have you allowed for the tax you will have to pay if you withdraw this in one chunk? What are you going to live on in retirement?

Edited by Green1man on Thursday 5th October 14:04

[fronty]

Green1man said:

Have you allowed for the tax you will have to pay if you withdraw this in one chunk? What are you going to live on in retirement?

Edited by Green1man on Thursday 5th October 14:04

Think it depends how big his pot is, you can withdraw up to 25% tax free.

[hornmeister]

My intial thought was NSX (original) too if you can stretch to £60K I can see them losing any money.

[minerva]

Ferrari 456?

Appreciating already and a manual perhaps more than the auto should have some way to go before ceiling is reached....

Prices are £45k to £110 so clearly the market doesn't really know itself at the moment.

[sim16v]

TwigtheWonderkid said:

colinrob said:

Hi I have decided at 55 to cash in on my pension and invest in happiness i.e. A nice car

Obviously we don't know your personal financial situation, nor do we know your state of health. You might have 6 months to live for all we know. But those aspects aside, this doesn't sound like the wisest financial move I've ever heard.

Buy nice car.

Run it for 6,12,18,24 months etc, sell for more than you paid for it.

Say to yourself, I'm glad I did that, I really enjoyed my time with it.

Or,

Keep money in bank/investment, whatever for 6,12,18,24 months etc, make a bit more money.

Say to yourself, fk me, I'm a boring tt, I wish I did something with that money and enjoyed myself.