CPD - Car Purchase Dysfunction
Discussion
In the past I’ve bought cars on finance and loans nearing the value of my then annual salary (a lot less than I’m on today), whilst still paying for a mortgage, going out, fags, booze, etc.
Now in mid-40s, with mortgage paid off; a good paid job; pension and savings and no loans or credit cards. So why do I worry about spending £30K on a car, new or used?
Any thoughts on what could be causing this case of CPD?
Are there other suffers out there?
I love cars and driving. Perhaps, I’m just sensible and boring now, or its the worry of pending economic doom.
Now in mid-40s, with mortgage paid off; a good paid job; pension and savings and no loans or credit cards. So why do I worry about spending £30K on a car, new or used?
Any thoughts on what could be causing this case of CPD?
Are there other suffers out there?
I love cars and driving. Perhaps, I’m just sensible and boring now, or its the worry of pending economic doom.
I think you don’t really value money, until you’re older and wiser.
Plus the further along the hill you go the more you realise you’ve less earning years ahead and need to max pension instead of max street cred.
My 40yr old’s objectives are certainly massively different to that of my 20yr olds. I no longer spend every penny on the car nowadays, I guess as wages increase so do the responsibilities.
But I don’t think I suffer from any cpd, as I am consistent: 20yrs a mk2 mr2 turbo, 40yrs a mk1 r8 v10. Engines still where it should be hanging across the rear wheels.
Plus the further along the hill you go the more you realise you’ve less earning years ahead and need to max pension instead of max street cred.
My 40yr old’s objectives are certainly massively different to that of my 20yr olds. I no longer spend every penny on the car nowadays, I guess as wages increase so do the responsibilities.
But I don’t think I suffer from any cpd, as I am consistent: 20yrs a mk2 mr2 turbo, 40yrs a mk1 r8 v10. Engines still where it should be hanging across the rear wheels.
Edited by Edible Roadkill on Wednesday 24th August 11:06
Edible Roadkill said:
I think you don’t really value money, until you’re older and wiser.
Plus the further along the hill you go the more you realise you’ve less earning years ahead and need to max pension instead of max street cred.
My 40yr old’s objectives are certainly massively different to that of my 20yr olds.
Absolutely spot on, I am 48 and have been doing this more and more over the last few years. When I was in my 20s the only thing I cared about was having a nice car, I had no concerns at all about taking out finance to get it.Plus the further along the hill you go the more you realise you’ve less earning years ahead and need to max pension instead of max street cred.
My 40yr old’s objectives are certainly massively different to that of my 20yr olds.
Now I just want to pay my mortgage off, like you I am working out how many more years I want to work for. Yes I could go and spend £40K on a car, but I think to my self "That is potentially enough money to allow you to retire two years earlier".
All the cars that were so important to me in my 20s have largely been forgotten and have all been scrapped. I dread to think how better off I would be right now if I had invested that money or even just paid off chunks of my mortgage with it.
Because £30k is still a substantial chunk of money unless you're in the 0.01%.
I've long realised that £10k is a sweet spot. Not so much cash tied up in cars that it causes stress, and enough to open up a wealth of interesting options. I'd go as far as to say you don't need to ever spend more than £10k to cover all your petrolhead bases, even in today's market, as long as you like older cars.
My £30k was spent on three cars
I've long realised that £10k is a sweet spot. Not so much cash tied up in cars that it causes stress, and enough to open up a wealth of interesting options. I'd go as far as to say you don't need to ever spend more than £10k to cover all your petrolhead bases, even in today's market, as long as you like older cars.
My £30k was spent on three cars
Funnily enough I've also found that around £10k is the sweet spot. I spent a little under that on my previous car, and exactly that on my current one.
For that you can get a what was £50k+ luxury car under 100k miles. Both were cosmetically immaculate/like new. My previous one lasted me 10 years, and I'm hoping for similar on the present one.
For that you can get a what was £50k+ luxury car under 100k miles. Both were cosmetically immaculate/like new. My previous one lasted me 10 years, and I'm hoping for similar on the present one.
churchie2856 said:
In the past I’ve bought cars on finance and loans nearing the value of my then annual salary (a lot less than I’m on today), whilst still paying for a mortgage, going out, fags, booze, etc.
Now in mid-40s, with mortgage paid off; a good paid job; pension and savings and no loans or credit cards. So why do I worry about spending £30K on a car, new or used?
Any thoughts on what could be causing this case of CPD?
Are there other suffers out there?
I love cars and driving. Perhaps, I’m just sensible and boring now, or its the worry of pending economic doom.
Other than being 10 years older, spot on the same. No mortgage for over 20 years and will probably die with quite a lot left over but currently agonising about spending £30k on a 540i and am looking at £10k cars when it wouldn't really matter if it was £50k or more. Part of this is my liking for having a car which I don't feel the need to wash or have serviced and I can park anywhere I want without a care. Now in mid-40s, with mortgage paid off; a good paid job; pension and savings and no loans or credit cards. So why do I worry about spending £30K on a car, new or used?
Any thoughts on what could be causing this case of CPD?
Are there other suffers out there?
I love cars and driving. Perhaps, I’m just sensible and boring now, or its the worry of pending economic doom.
I would really like to drive something nice but I just can't seem to do it. I even thought about a new Duster as in my mind I could treat it like crp and not care.
In my 20s and 30s I used to spend all I could spare on cars.
Then in my mid-forties I had a couple of nearly new ones because I was doing business miles, getting a car allowance and an interest free loan from my employer!
Since I stopped working after clearing my mortgage I've been running much cheaper 10+ year old cars. They have issues now and again but it's good to know depreciation is minimal.
Then in my mid-forties I had a couple of nearly new ones because I was doing business miles, getting a car allowance and an interest free loan from my employer!
Since I stopped working after clearing my mortgage I've been running much cheaper 10+ year old cars. They have issues now and again but it's good to know depreciation is minimal.
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