Soldato
- Joined
- 28 Nov 2008
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It does, because you get a car sooner and will probably be able to afford a better a car than you would saving up.
How did you pay for your car?
- Thread starter stoke1863
- Start date
It does, because you get a car sooner and will probably be able to afford a better a car than you would saving up.
Ah, I see.
I should have read the whole thread properly I guess.
Still doesn't beat saving up though, especially if you have an offset mortgage.
Of course it beats saving up, in what way does it possibly not beat saving up? Saving up for something when you have the ultra cheap credit line afforded with a mortgage account is a totally flawed concept. See my post above.
It is also interesting that you view your primary mortgage as a debt? Do you really consider that claim secured against an appreciating asset to be a debt?
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![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
It does, you've said yourself you've waited 14 years of saving to be able to buy a new car and in the meantime have had to drive around in a mid 1990's Renault! Not a very good advert for saving up is it?
I think you'll find it's the other way round.
Thanks for the contribution though, it's been really useful.
But you still aspired to a nice car so seems your's doesn't really or else you'd still be in it. Your logic for funding is somewhat chopping your nose off to spite your face.
[TW]Fox;16467485 said:
The choice to wait was mine - I could have bought another car with £13k after 5 years. So I'd be really slumming it in a 5 year old car by the time I had £13k to spend on another one
. It was my choice to wait until there was a car that I really wanted to buy, and as it is I have enough for the new car and another £9k still saved up.
You say that, yet they are the ones driving nice cars, and you are in a 1996 Megane. I think the evidence alone, let alone their arguments backing it up, kind of says that they are in a better position to talk about how to do things than you are.
I aspire to save up - not necessarily or specifically for a nice car. It's just that I happened to have enough money saved when a car came along that I really liked.
If it hadn't come along, I'd be happy with my current car until it gave up altogether and needed scrapping.
^^
Bizarre thread is turning bizarre. Mr^B you certainly have an "interesting" view of finances.
But in 8 weeks time(ish) I'll be in a brand new Megane RS 250 Cup.
Which I'll own outright.
Without owing anyone anything for it.
Which I'll probably keep for another 10-15 years and save £400 a month this time, which will be about £70k to spend when I properly hit middle-age.
Soldato
- Joined
- 28 Nov 2008
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- 8,725
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A Megane RS 250 Cup for 10-15 years? How old are you now?
Your logic astounds me. You said yourself that this money is being drawn from an offset mortgage account?
In the case that this is true;
1) You are doing exactly what i said to do any way, you are drawing money from a mortgage account.
In the case that this is not true, and you had that (£20k?) sitting in a saver;
1) You have lost out on the fact that this capital has undoubtedly been earning less than it would have being paid into your mortgage account.
2) You have now spent the money on the renault. This money COULD have been paid into the mortgage account, instead of to Mr Renault. The net cost is THE SAME as if you had simply not bothered, paid into your mortgage account as and when, as any sane person should do, and has now later drawn the cash back down.
The TOTAL net cost to have avoided ANY wait whatsoever, let alone 14 years, would be approx £50/month at current rates - less than a tv subscription.
In the case that this is true;
1) You are doing exactly what i said to do any way, you are drawing money from a mortgage account.
In the case that this is not true, and you had that (£20k?) sitting in a saver;
1) You have lost out on the fact that this capital has undoubtedly been earning less than it would have being paid into your mortgage account.
2) You have now spent the money on the renault. This money COULD have been paid into the mortgage account, instead of to Mr Renault. The net cost is THE SAME as if you had simply not bothered, paid into your mortgage account as and when, as any sane person should do, and has now later drawn the cash back down.
The TOTAL net cost to have avoided ANY wait whatsoever, let alone 14 years, would be approx £50/month at current rates - less than a tv subscription.
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Haven't you heard? I own a RS 250 Cup.
Try and keep up!
You will do, and thats great, but you have had to put up with driving a 1996 Megane for how long?