Should you buy your dream car?

[Pistonheader101]

I’m in a position to buy my dream car - however this will empty out my savings and rainy day funds.

The man maths seems to work out - but the real question is should I?

[ghost83]

Depends on the car but ultimately why not?

It’s your dream car you can afford it so enjoy, you only live once

[Pistonheader101]

R34 gtr

[Scootersp]

If it really wipes out all funds I would finance a fair chunk of the purchase. Flexibility might be more helpful than a few quid saved on interest.

Need some idea on the cars cost ideally?

[Pistonheader101]

Scootersp said:

If it really wipes out all funds I would finance a fair chunk of the purchase. Flexibility might be more helpful than a few quid saved on interest.

Need some idea on the cars cost ideally?

Finance would be quite hard in this instance I’d imagine due to valuation of the car. Personal loan would probably be easier?

£70k

Edited by Pistonheader101 on Sunday 1st September 20:05

[Nerdherder]

Pistonheader101 said:

R34 gtr

If a car completely drains your savings already then a definite no unless you have other assets you can easily liquidate in case of unfortunate circumstances that require cash.

[shake n bake]

Can you afford to run it once you’ve bought it?
I watched many people buy there dream car and then sell it back to us a few months later as it needed a significant repair.
Obviously they lost a scary amount of money in the process.

[Scootersp]

Pistonheader101 said:

Finance would be quite hard in this instance I’d imagine due to valuation of the car. Personal loan would probably be easier?

£70k

Edited by Pistonheader101 on Sunday 1st September 20:05

Sorry I meant finance in the general sense Ie personal loan etc yes, don't leave yourself totally cash poor.

I couldn't do it myself, not when there are such good cars for a quarter of that but if you are just scratching an itch it might be possible to sell for what you paid and make the quarter price ones bad value!? Plus a dream is a dream........only you can place a value on owning one really.

[griffter]

Well if you don’t, it will remain a dream!

(Some things are better that way)

(But personally I would buy it. If you don’t, you’ll always wish you had)

[Jamescrs]

There's two ways of thinks Ng about it I guess

1 if you have never driven one, I make that assumption? Will it live upto what you imagine how t will be? The old you should never meet your heroes type of thing

2 The other way is I believe life is very short, a friend of mine died of cancer this year at 43 and I now firmly believe you have to enjoy life and live it, as such I turn 40 in just under 18 months and am seriously considering buying a Porsche 911 for myself as a present, wanted one for around 10 years.

[TheDrownedApe]

do you own your own home? do you have a stable job? can you afford to spend that amount without worrying in 6 months time? what if it goes wrong?

We all want the "nice car" but most of us realise that life needs comes before life wants and no one can answer your Q for you.

[ZX10R NIN]

Do it make sure you get it checked over & you'll have yourself your dream car. Also because it's a Skyline you're unlikely to loose money so if you decide to sell you won't be bankrupted but make sure you use a recognised specialist & you'll be fine.

[james_gt3rs]

Pistonheader101 said:

£70k

For an R34??

[Edible Roadkill]

You would get a decent R34 for half that amount surely?

But yeah do it if you feel the need, I’m a firm believer that the savings pot can always be rebuilt afterwards.

[SarGara]

Edible Roadkill said:

You would get a decent R34 for half that amount surely?
.

No you wouldn't. Speculators are holding onto/buying them in prep for the US market and the prices are only increasing.

[Edible Roadkill]

Ah yeah r34, I was thinking the r35.

Not many around so quite a specialist car. Maybe the wrong time to be jumping into a unique car purchase, brexit / possible recession could have a sobering effect.

[RDMcG]

If you are young and single I would do it. It is a very different experience if you wait till 50. That being said I would wait till after Brexit impact. There is a lot of uncertainty now and a couple of months makes little difference.

[mwstewart]

I'll be boring and advise against it. A toy shouldn't really eat into savings or any contingency. Buy it with funds that you can write off then forgot about its value and enjoy it properly.

[vtecyo]

Edible Roadkill said:

You would get a decent R34 for half that amount surely?

But yeah do it if you feel the need, I’m a firm believer that the savings pot can always be rebuilt afterwards.

I forget exactly what is was - maybe a low mileage factory Nismo? I'm sure someone will know, but it went for something like £250k on the Jap auction sites recently.