'New' car advice
- Thread starter carvegio
- Start date
You're probably going to be better off answering the questions about what you want from the car. I.e. brand/speed/size etc.
Personally £50k seems a lot of money for essentially a toy that's going to depreciate like a stone (as £50k cars invariably do). Having said that, I and no one else on here is entitled to spend your money for you and if it's what you want, then people can offer suggestions (and have done).
Whether it's a genuine post or not, I'm still quite interested what people might suggest for a £50k car in a "what-if" scenario.
On very rough calculations you would need over 40k pa to have paid it off by 25 since graduation. But it gets messy when including salary increases etc so just very rough.
Since the average wage is circa 20-25k I am supposing most 25yrs olds
aren't earning a 40k salary on average between
graduation and 25? ( ignoring earl repayments as I did not pay any)
Since you posted it how much do you need to earn before considering a 50k car??
Wasnt it housey that said you literally need to be making in the 150k+pa to comfortably run 50k cars?
I don't earn that much yet and that comes as quite a large surprise to me. Maybe my budget was too high if that is really the case. I would love greater input on this.
I also see where the real mistake for me in this thread also was. Fundamentally 50k is not really a lot of money I guess for me in some ways ie I would love to have an extra 50k in my bank or even 50k full stop right now.
But if for example I had 50k and I lost it trying to set up a business or I had to give it to someone etc it would not massively affect my life.
I have pride and a small amount of vanity but not hubris. To me this means I will and want to live like a king but even if it was all taken away from me instantly it would not really affect me too much.
That depends on the £50k car.
Something like a Nissan GTR is going to cost a bomb to run. Tyres are £500... Each !! so thats £2000 in the first year just for tyres
Other cars at 50k... Like say a Porsche Cayman S arent going to be nearly as expensive to run.
Also, since your asking questions about how much of a good idea the £50,000 thing is, you need to take account for how much of that will be finance and how much will cash. Judging by the fact your 10k student loan is not paid off, im guessing you dont have £40,000 in cash lieing about.
If your going to be borrowing £20,000 and up, then id say the £50k budget is silly.
I don't know how many times I need to say this but it isn't particularly smart or necessary to pay off your student loan early. I have had well over 50k in savings and the thought of paying off my student loan has not crossed my mind. Further to this I have told you it will be paid off by the endof the year, there is only a few grand I think remaining.
And again finance does not always mean an unsecured loan. Also, is borrowing 20k always silly? No you can't generalise like that. What if I told you in the next five years I would get pay rises of at least 25k+ (with a further %, circa 15-25%, of that in bonus also) without the greatest of efforts? Does that
not make a loan of above 20k seem less important/large? The increases alone in monthly wage would likely be more than double the payments, which I could still afford now.
Plus I told you guys already if financing didn't make sense or add up then I wouldn't get it and wait until next year when I have
cash.
I plan on a few test drives next week... Hopefully that can narrow
down the car I want to buy.
I don't think you need to earn 150k plus to run a 50k car, it comes down to priorities. If you have the things you'd perhaps expect of such a car driver, nice house, furniture, good holidays and maybe a family to support I think this is where you'd need to be. If you live with mum and pay a tenner a week then you don't near anywhere near this level of income. I actually know some young lads with cars I certainly couldn't afford right now, one of them is 25 come to think of it but then his circumstances are far from normal. What I do know is none of them come onto a web forum full of young lads and ask fr advice on what car they should buy up to X value. The ability to consider and the ability to buy are somewhat different and we can all dream. I could go out and buy most cars on finance tomorrow, 599 sure, no problem......though I'd have to sacrifice a hell of a lot to do so....starting with my house. If you want to prove anything come back when you have purchased your car and ram it down peoples throats. I'd be astonished if you did, your posting just doesn't stack up with someone able or about to ***** upto 50k on a motor, it comes across as nicely phrased but perhaps niave. I work in the square mile all the time by the way but you'll forgive me if I don't take you up on your offer. Go buy and come and tell everyone, I'll be first to say well done.
If you are serious then I would say maybe a BMW M6?
Very fast car for not very much money
http://www.pistonheads.com/sales/1524562.htm
Very fast car for not very much money
http://www.pistonheads.com/sales/1524562.htm
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£30,000 for a 5 year old car is a lot of money.
I'll now try and give some half sensible advice.
Spend £20k on a car. £20k, if you buy smart, gets you a wide range of pretty flash, decent cars. It also means you are not ridiculously stretching yourself for no value. This is only your second car and you have a Vauxhall Astra. You do need a £50,000 BMW M3 in order to feel like you've upgraded to a flash fast car.
Stuff like M5's etc are all very well but you will soon get bored of 12mpg meaning you need to fill the £90 fuel tank every few days and no real change from £1500 every time it goes into the garage. You just WONT get the benefit out of it to justify the sort of relentless cost and effort that goes into looking after a car like this and simply being able to just use it... as a car.
Despite what you say you are NOT a car enthusiast. This is fine, you dont need to be a car enthusiast to own a nice car, but you just wont get the sort of benefits a true enthusiast would out of owning something with bonkers running costs.
You just want a reasonably quick, good looking, flash car.
£20k gets you all sorts - Porsche Boxsters, Merc CLS, various BMW 530 Sport's which look almost identical to the M5, 330i Coupe's, etc etc.
Alternatively £25k gets you something like an Audi A5 3.0 - 0-60 in 6 seconds, so not slow, yet easily worth the saving over the S5.
An M6 seems abit much for someone who isn't really a car enthusiast and just wants a nice car. An M6 is the type of car that only few people know what a machine it is and that you've actually spent £85k on it!
A normal 6-series would be nice.
Have to agree, M6 would be near the top of my list, lot of car for the money.
However, probably not suitable for the op. He still needs to clarify more preciously how much he wants to spend and what sort of car he is looking for.
A5 is good but wouldn't really call it 'flash' if that is what he really wants. But any flash car is going to have the associated running costs which the OP doesn't seem to want.
Edit // Normal 6 has, what i'd call, fairly high running costs though.
He dont want beauty he wants flash.
There is a lot of it about, i get asked 6 times a week whats the biggest diamond i can get for 1500 quid, twice as often as i get asked whats the best one for the same money.
There is a lot of it about, i get asked 6 times a week whats the biggest diamond i can get for 1500 quid, twice as often as i get asked whats the best one for the same money.
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If i were spending >20k on a car it would either be a jag xf or a mustang.. considering the limited milage you do a year it'd be the mustang! http://www.pistonheads.com/sales/1478437.htm