About to part with 10k for a classic this weekend..Help!
Discussion
I don’t understand why you are asking on here?
Only you can know if your income is going to be affected by the current global situation and whether you’d be better off saving the cash for emergencies.
If your income is safe then nothing has changed, unless you were buying it as an investment rather than a car to enjoy.
Only you can know if your income is going to be affected by the current global situation and whether you’d be better off saving the cash for emergencies.
If your income is safe then nothing has changed, unless you were buying it as an investment rather than a car to enjoy.
Both Paul, it was going next to the Elise in the garage, it's really 50/50 right now, Insurance was a massive £93 fully comp, no road tax to pay. I ask here as I trust most of the motoring PH have bought cars themselves but not in times like these where things change by the hour, this is a real dilemma, as soon as I park it up in the garage it could be worth 2k by the end of the week or less.
I don't expect anyone will have the answer but that I might get a better idea of what to do, I haven't spoke to the owner yet, as my heart wants to proceed, hence insurance ready prior to a 3 hr drive to collect, my sensible head is saying.........ask the PH posse !
Brett, I need to speak to the owner before I say, it's a real stunner, I'll report back either way.
Just don't know what I should ....f
k fk fk!!!!!
I don't expect anyone will have the answer but that I might get a better idea of what to do, I haven't spoke to the owner yet, as my heart wants to proceed, hence insurance ready prior to a 3 hr drive to collect, my sensible head is saying.........ask the PH posse !
Brett, I need to speak to the owner before I say, it's a real stunner, I'll report back either way.
Just don't know what I should ....f
k fk fk!!!!!If you could afford to drop £10K in the first place without undue risk then you still can. If oil prices were going up rather than down in response to the Covid crisis then yes it might well be only worth £2K by the end of the month but it would still recover. Unless you were planning to sell for a quick profit this year I really don't see the problem.
It would help to know what car it is!? If it's a very nice MGB for example, they are still relatively very common, so you may have to sell to cheaper if you only keep it a short time.
If it's a Porsche, or a rare Jaguar (sever other brands I'm sure, Fords go for bonkers prices), the longer you keep it the better. Too many people buy classics as 'investments' which drives, well, had driven the price up.
It depends what you want it for. If you're going to drive and use it, great, and if you actually improve its condition, it won't depreciate like a modern car.
If it's a Porsche, or a rare Jaguar (sever other brands I'm sure, Fords go for bonkers prices), the longer you keep it the better. Too many people buy classics as 'investments' which drives, well, had driven the price up.
It depends what you want it for. If you're going to drive and use it, great, and if you actually improve its condition, it won't depreciate like a modern car.
if you want it, buy it. you could be dead next week. if you want to be mercenary, try to knock the price down. im in a dilemma, should i cancel the insurance on my cobra rep even though its locked up in the garage.im 68 and i could pop my clogs anytime soon and i wont get my monies worth. what you reckon ?
I will reveal what car it is when I've made my decision on whether to procedure and spoke to the owner, If I choose not to, I expect the owner to understand why given the current climate, I could even suggest he hold it until this is all over, a holiday period, others are in the same boat and right now wouldn't dream of parting with cash to buy a car,he may be amenable to the idea, or tell me to fk off.
The car would be a keeper to enjoy, I'm the club and when I'm ready to move it on, this could be years I'm 54 now, I'd like to think I'd at least get back what I paid for it subject to two things:
EV and no fuel.
Economy.
Think I'm going to let him know by tonight, or say nothing and proceed and hope I don't regret it. 50/50
I'll post some pics by the weekend either way, so you can say...........'"what, all that fuss for a peace of st like that"
k off. The car would be a keeper to enjoy, I'm the club and when I'm ready to move it on, this could be years I'm 54 now, I'd like to think I'd at least get back what I paid for it subject to two things:
EV and no fuel.
Economy.
Think I'm going to let him know by tonight, or say nothing and proceed and hope I don't regret it. 50/50
I'll post some pics by the weekend either way, so you can say...........'"what, all that fuss for a peace of s
t like that"What car is it? Is it extremely rare?
Car prices will be going down and down over the next few weeks and months, so if you want to save money, you could wait it out and find one at a reduced price.
Also if you "feel I need the cash for the downtime we are facing" - if you need the money, then keep the money, buy the car another time. There's always next summer.
Car prices will be going down and down over the next few weeks and months, so if you want to save money, you could wait it out and find one at a reduced price.
Also if you "feel I need the cash for the downtime we are facing" - if you need the money, then keep the money, buy the car another time. There's always next summer.
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