Not a "What to buy" but "how to buy" question
Discussion
Hi all
The itch to change is coming up again slowly, I've managed to last longer than 6 months this time but certainly starting to look around. I'm actually very stuck on what car I want next, currently have an F90 M5 Comp and I want a change.
But I'm curious to hear people's opinions on purchasing methods these days. I know it's all very subjective but some pros and cons would be good to discuss.
I currently own the car, could probably get back about 52-55 for it. I'm getting towards my 40s and it's very tempting to put either all, or a large chunk of that money if I sell it into my pension, which is boring but probably sensible if I want a chance at a semi decent retirement.
But I COULD just use it as cash towards something else, or to cover something else completely. In the past I've had PCPs, some have been more beneficial than others financially, but I'm not ruling them out. What about leasing or subscriptions or other options like that? If I take any sort of finance, I want the largest amount of my capital being invested so that I'm offsetting the interest to an extent. So therefore I don't want to front load any finance deal too much. Monthly payments are then the next issue. Ideally not wanting to spend more than 1300 but if I could get the car I want on some sort of "everything included" deal and it was a bit more monthly, I would consider it.
Basically, I just want to hear the pros and cons of all options. It's likely the car I get next will be used rather than brand new, but again, that's an option.
Any advice would be gratefully received.
(PS Anyone have any thoughts on the pre facelift G12 M760li?)
The itch to change is coming up again slowly, I've managed to last longer than 6 months this time but certainly starting to look around. I'm actually very stuck on what car I want next, currently have an F90 M5 Comp and I want a change.
But I'm curious to hear people's opinions on purchasing methods these days. I know it's all very subjective but some pros and cons would be good to discuss.
I currently own the car, could probably get back about 52-55 for it. I'm getting towards my 40s and it's very tempting to put either all, or a large chunk of that money if I sell it into my pension, which is boring but probably sensible if I want a chance at a semi decent retirement.
But I COULD just use it as cash towards something else, or to cover something else completely. In the past I've had PCPs, some have been more beneficial than others financially, but I'm not ruling them out. What about leasing or subscriptions or other options like that? If I take any sort of finance, I want the largest amount of my capital being invested so that I'm offsetting the interest to an extent. So therefore I don't want to front load any finance deal too much. Monthly payments are then the next issue. Ideally not wanting to spend more than 1300 but if I could get the car I want on some sort of "everything included" deal and it was a bit more monthly, I would consider it.
Basically, I just want to hear the pros and cons of all options. It's likely the car I get next will be used rather than brand new, but again, that's an option.
Any advice would be gratefully received.
(PS Anyone have any thoughts on the pre facelift G12 M760li?)
Do you think you should be looking more for a personal finance forum to tell you about whether to save for your retirement or not?
Surely the options on the car buying are simple...
1 Buy car for cash, lose money on depreciation, running costs and anything that could be earned with that cash (in an investment for example)
2 Buy on finance, lose money on depreciation, running costs and interest, but offset by having some cash to invest.
1 is likely financially more prudent than 2 given you buy a car unless you find a (very) good investment.
Surely the options on the car buying are simple...
1 Buy car for cash, lose money on depreciation, running costs and anything that could be earned with that cash (in an investment for example)
2 Buy on finance, lose money on depreciation, running costs and interest, but offset by having some cash to invest.
1 is likely financially more prudent than 2 given you buy a car unless you find a (very) good investment.
Thanks,
Yes the comment about putting it in my Pension wasn't looking for advice on that point, it was more a case of IF I end up with cash by taking finance, then that's where it will go, to make the point that at least it will be getting some return somewhere, to offset the interest to some extent.
Yes the comment about putting it in my Pension wasn't looking for advice on that point, it was more a case of IF I end up with cash by taking finance, then that's where it will go, to make the point that at least it will be getting some return somewhere, to offset the interest to some extent.
Technoholic said:
Hi all
The itch to change is coming up again slowly, I've managed to last longer than 6 months this time but certainly starting to look around. I'm actually very stuck on what car I want next, currently have an F90 M5 Comp and I want a change.
But I'm curious to hear people's opinions on purchasing methods these days. I know it's all very subjective but some pros and cons would be good to discuss.
I currently own the car, could probably get back about 52-55 for it. I'm getting towards my 40s and it's very tempting to put either all, or a large chunk of that money if I sell it into my pension, which is boring but probably sensible if I want a chance at a semi decent retirement.
But I COULD just use it as cash towards something else, or to cover something else completely. In the past I've had PCPs, some have been more beneficial than others financially, but I'm not ruling them out. What about leasing or subscriptions or other options like that? If I take any sort of finance, I want the largest amount of my capital being invested so that I'm offsetting the interest to an extent. So therefore I don't want to front load any finance deal too much. Monthly payments are then the next issue. Ideally not wanting to spend more than 1300 but if I could get the car I want on some sort of "everything included" deal and it was a bit more monthly, I would consider it.
Basically, I just want to hear the pros and cons of all options. It's likely the car I get next will be used rather than brand new, but again, that's an option.
Any advice would be gratefully received.
(PS Anyone have any thoughts on the pre facelift G12 M760li?)
If you’re PAYE this may be some use.The itch to change is coming up again slowly, I've managed to last longer than 6 months this time but certainly starting to look around. I'm actually very stuck on what car I want next, currently have an F90 M5 Comp and I want a change.
But I'm curious to hear people's opinions on purchasing methods these days. I know it's all very subjective but some pros and cons would be good to discuss.
I currently own the car, could probably get back about 52-55 for it. I'm getting towards my 40s and it's very tempting to put either all, or a large chunk of that money if I sell it into my pension, which is boring but probably sensible if I want a chance at a semi decent retirement.
But I COULD just use it as cash towards something else, or to cover something else completely. In the past I've had PCPs, some have been more beneficial than others financially, but I'm not ruling them out. What about leasing or subscriptions or other options like that? If I take any sort of finance, I want the largest amount of my capital being invested so that I'm offsetting the interest to an extent. So therefore I don't want to front load any finance deal too much. Monthly payments are then the next issue. Ideally not wanting to spend more than 1300 but if I could get the car I want on some sort of "everything included" deal and it was a bit more monthly, I would consider it.
Basically, I just want to hear the pros and cons of all options. It's likely the car I get next will be used rather than brand new, but again, that's an option.
Any advice would be gratefully received.
(PS Anyone have any thoughts on the pre facelift G12 M760li?)
I realised years ago that I could live off my savings which meant that I was able to divert my wages into my pension using salary sacrifice to legally avoid significant levels of income tax and NI. With the recently increased £60k allowance I save thousands in deductions every month which I feel better about for two reasons.
1. I’ve significantly reduced my funding of the corrupt system of government including an exchequer which politicians of all parties see as a personal piggy bank for them and their mates to exploit at will.
2. I’ve significantly reduced my funding of entitled, antisocial and ungrateful welfare claimants who see the ludicrously overgenerous and easily exploited welfare system as a personal piggy bank to support their work avoidance grifts by falsifying all kinds of mental and physical ailments.
Hope that helps!
Edited by Franco5 on Tuesday 13th June 22:14
Franco5 said:
Technoholic said:
Hi all
The itch to change is coming up again slowly, I've managed to last longer than 6 months this time but certainly starting to look around. I'm actually very stuck on what car I want next, currently have an F90 M5 Comp and I want a change.
But I'm curious to hear people's opinions on purchasing methods these days. I know it's all very subjective but some pros and cons would be good to discuss.
I currently own the car, could probably get back about 52-55 for it. I'm getting towards my 40s and it's very tempting to put either all, or a large chunk of that money if I sell it into my pension, which is boring but probably sensible if I want a chance at a semi decent retirement.
But I COULD just use it as cash towards something else, or to cover something else completely. In the past I've had PCPs, some have been more beneficial than others financially, but I'm not ruling them out. What about leasing or subscriptions or other options like that? If I take any sort of finance, I want the largest amount of my capital being invested so that I'm offsetting the interest to an extent. So therefore I don't want to front load any finance deal too much. Monthly payments are then the next issue. Ideally not wanting to spend more than 1300 but if I could get the car I want on some sort of "everything included" deal and it was a bit more monthly, I would consider it.
Basically, I just want to hear the pros and cons of all options. It's likely the car I get next will be used rather than brand new, but again, that's an option.
Any advice would be gratefully received.
(PS Anyone have any thoughts on the pre facelift G12 M760li?)
If you’re PAYE this may be some use.The itch to change is coming up again slowly, I've managed to last longer than 6 months this time but certainly starting to look around. I'm actually very stuck on what car I want next, currently have an F90 M5 Comp and I want a change.
But I'm curious to hear people's opinions on purchasing methods these days. I know it's all very subjective but some pros and cons would be good to discuss.
I currently own the car, could probably get back about 52-55 for it. I'm getting towards my 40s and it's very tempting to put either all, or a large chunk of that money if I sell it into my pension, which is boring but probably sensible if I want a chance at a semi decent retirement.
But I COULD just use it as cash towards something else, or to cover something else completely. In the past I've had PCPs, some have been more beneficial than others financially, but I'm not ruling them out. What about leasing or subscriptions or other options like that? If I take any sort of finance, I want the largest amount of my capital being invested so that I'm offsetting the interest to an extent. So therefore I don't want to front load any finance deal too much. Monthly payments are then the next issue. Ideally not wanting to spend more than 1300 but if I could get the car I want on some sort of "everything included" deal and it was a bit more monthly, I would consider it.
Basically, I just want to hear the pros and cons of all options. It's likely the car I get next will be used rather than brand new, but again, that's an option.
Any advice would be gratefully received.
(PS Anyone have any thoughts on the pre facelift G12 M760li?)
I realised years ago that I could live off my savings which meant that I was able to divert my wages into my pension using salary sacrifice to legally avoid significant levels of income tax and NI. With the recently increased £60k allowance I save thousands in deductions every month which I feel better about for two reasons.
1. I’ve significantly reduced my funding of the corrupt system of government including an exchequer which politicians of all parties see as a personal piggy bank for them and their mates to exploit at will.
2. I’ve significantly reduced my funding of entitled, antisocial and ungrateful welfare claimants who see the ludicrously overgenerous and easily exploited welfare system as a personal piggy bank to support their work avoidance grifts by falsifying all kinds of mental and physical ailments.
Hope that helps!
Edited by Franco5 on Tuesday 13th June 22:14
Franco5 said:
Technoholic said:
Hi all
The itch to change is coming up again slowly, I've managed to last longer than 6 months this time but certainly starting to look around. I'm actually very stuck on what car I want next, currently have an F90 M5 Comp and I want a change.
But I'm curious to hear people's opinions on purchasing methods these days. I know it's all very subjective but some pros and cons would be good to discuss.
I currently own the car, could probably get back about 52-55 for it. I'm getting towards my 40s and it's very tempting to put either all, or a large chunk of that money if I sell it into my pension, which is boring but probably sensible if I want a chance at a semi decent retirement.
But I COULD just use it as cash towards something else, or to cover something else completely. In the past I've had PCPs, some have been more beneficial than others financially, but I'm not ruling them out. What about leasing or subscriptions or other options like that? If I take any sort of finance, I want the largest amount of my capital being invested so that I'm offsetting the interest to an extent. So therefore I don't want to front load any finance deal too much. Monthly payments are then the next issue. Ideally not wanting to spend more than 1300 but if I could get the car I want on some sort of "everything included" deal and it was a bit more monthly, I would consider it.
Basically, I just want to hear the pros and cons of all options. It's likely the car I get next will be used rather than brand new, but again, that's an option.
Any advice would be gratefully received.
(PS Anyone have any thoughts on the pre facelift G12 M760li?)
If you’re PAYE this may be some use.The itch to change is coming up again slowly, I've managed to last longer than 6 months this time but certainly starting to look around. I'm actually very stuck on what car I want next, currently have an F90 M5 Comp and I want a change.
But I'm curious to hear people's opinions on purchasing methods these days. I know it's all very subjective but some pros and cons would be good to discuss.
I currently own the car, could probably get back about 52-55 for it. I'm getting towards my 40s and it's very tempting to put either all, or a large chunk of that money if I sell it into my pension, which is boring but probably sensible if I want a chance at a semi decent retirement.
But I COULD just use it as cash towards something else, or to cover something else completely. In the past I've had PCPs, some have been more beneficial than others financially, but I'm not ruling them out. What about leasing or subscriptions or other options like that? If I take any sort of finance, I want the largest amount of my capital being invested so that I'm offsetting the interest to an extent. So therefore I don't want to front load any finance deal too much. Monthly payments are then the next issue. Ideally not wanting to spend more than 1300 but if I could get the car I want on some sort of "everything included" deal and it was a bit more monthly, I would consider it.
Basically, I just want to hear the pros and cons of all options. It's likely the car I get next will be used rather than brand new, but again, that's an option.
Any advice would be gratefully received.
(PS Anyone have any thoughts on the pre facelift G12 M760li?)
I realised years ago that I could live off my savings which meant that I was able to divert my wages into my pension using salary sacrifice to legally avoid significant levels of income tax and NI. With the recently increased £60k allowance I save thousands in deductions every month which I feel better about for two reasons.
1. I’ve significantly reduced my funding of the corrupt system of government including an exchequer which politicians of all parties see as a personal piggy bank for them and their mates to exploit at will.
2. I’ve significantly reduced my funding of entitled, antisocial and ungrateful welfare claimants who see the ludicrously overgenerous and easily exploited welfare system as a personal piggy bank to support their work avoidance grifts by falsifying all kinds of mental and physical ailments.
Hope that helps!
Edited by Franco5 on Tuesday 13th June 22:14
Gassing Station | Car Buying | Top of Page | What's New | My Stuff