To be honest I would go a little higher, and take out something which will hold its value, like a GTR
Or a Focus RS. If he didn't say he didn't want another Focus... or another hatchback...
Chance for a nice new motor
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Or a Focus RS. If he didn't say he didn't want another Focus... or another hatchback...
Just redone the WBAC thing and they offered me £7650, so yes I am expecting £7-£8k in p/ex a 1.6 titanium is not close to the same thing as a 1.6 Ecoboost Titanium X
Don't forget though thats just the online quote and isn't guaranteed its based on your car being absolutely perfect.
Once you turn up they will start picking your car to pieces and reducing the offer with every little scratch and stone chip they find, even if it smells funny to the inspector they will knock money off........
Are you really sure you want to blow a 25k inheritance on something like a car, seems a bit disrespectful to me to blow someone else's life's earnings on something that depreciates faster than a brick falling from a sky rise! But each to there own I guess!
I tend to agree on the face of it but you don't know whether the person leaving that inheritance would want some money to be used for something fun etc so it's maybe a bit disrespectful of the OP to suggest.
Plus pick the right car and you could minimise any loss over the term. Alternative is to use say £10k of it over two years to lease something you'd be unlikely to buy outright. Again so long as it's reasonable vs the depreciation of buying it could work out
Plus pick the right car and you could minimise any loss over the term. Alternative is to use say £10k of it over two years to lease something you'd be unlikely to buy outright. Again so long as it's reasonable vs the depreciation of buying it could work out
WBAC prices can be a bit of a joke online, took an Aygo 62 reg, didnt owe me much so plugged the details into WBAC and they offered 3300 online, which wasnt bad. Took it over to them and by the time the greasy salesman sucked his teeth the offer was down to 2150!
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
i'd be very inclined to spend less on the car and keep an extra £9k to max out your mortgage overpayment again next year - nice car is nice but ultimately will just lose money but over paying annother year of your mortgage will save you so much on interest in the future.
It'd be interesting to do the sums as to what a £40k overpayment reduces your monthly repayment amounts by and then what you could lease with that saving...
I'm with fox. If 30k is a large percent of your savings it's mad to spend that much on a car.
Fox has posted twice in this thread, once to clarify BMW models and once about WBAC. Is this what we're doing now? "I'm with fox, I think gerbils should be banned on Tuesdays"
Anyway I do agree with the sentiment, I couldn't bring myself to spend 30k of inherited money on a rapidly depreciating asset when there's only 9k (well, 19k with the kitchen) going onto the house. I wouldn't go as far as to say it's disrespectful as we don't know who left it but it does seem like a poor decision. I'd personally keep it in savings until the mortgage is at the end of its fixed term and use the increased equity to keep payments the same as they are but reduce the term.
When you're 50, you'll be cursing young pepp77 if he used such a good opportunity on a car, but you'll thank him if your living comfortably mortgage free. Thats just my 2p and one reason my car is only worth about 3-4% of my annual income!
Soldato
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So he could put it into the mortgage where it's essentially gone or he could buy a nice car to drive about in that he may never get the chance to again...I know I'd want whoever I left my money to to do what they like with it tbh!
Anyway for 30k buy something more fun like an atom and keep the focus
Anyway for 30k buy something more fun like an atom and keep the focus
So he could put it into the mortgage where it's essentially gone or he could buy a nice car to drive about in that he may never get the chance to again...I know I'd want whoever I left my money to to do what they like with it tbh!
Anyway for 30k buy something more fun like an atom and keep the focus
Gone? I don't think you really understand how mortgages work
Of course he can do what he likes with it, like I said it's just my 2p
I think the only way you'll get £8k p/x is if you aren't getting a good discount on the new car. To be honest if you can genuinely get £7650 from WBAC (i.e. they don't knock money off for cosmetic issues or fees) then that could be the way to go.
If it was me I'd plough most of it into the house and save the rest, that's what I did with my inheritance despite us having a worse car than your current one. However, it is your decision.
edit: as for the money being 'gone' in a mortgage, I would argue it is 'more gone' in a car. Pretty much any of the cars he gets will depreciate in value whereas paying off the mortgage will avoid interest payments (effectively a positive return on investment rather than negative). Essentially putting money into a car loses money (with a few exceptions obviously) whereas putting money into a mortgage usually gains money.
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Thanks for all the replies, but still not one saying which car they would go for
I have planned out the spending and yes the person who passed on to leave the money (I am only getting about 10% of the inheritance) would want us to spend it both sensibly and with fun in mind. After all has been spent I will have put about 40% into the car and about 60% into the house - which I do not think is a bad mixture and leaves my personal savings untouched.
Insurance on the Focus is £330 a year. The quote I had on the 235 was £360 for the year.
I have planned out the spending and yes the person who passed on to leave the money (I am only getting about 10% of the inheritance) would want us to spend it both sensibly and with fun in mind. After all has been spent I will have put about 40% into the car and about 60% into the house - which I do not think is a bad mixture and leaves my personal savings untouched.
Insurance on the Focus is £330 a year. The quote I had on the 235 was £360 for the year.
Stick it on the mortgage IMO.
"Not particularly"?
You took a shed, didn't you?
Conversely my experience with WBAC was that they picked up on a couple of chips/imperfections on my car and knocked about £200 off. Overall VERY easy to deal with, no awkwardness at all.
"Not particularly"?
You took a shed, didn't you?
Conversely my experience with WBAC was that they picked up on a couple of chips/imperfections on my car and knocked about £200 off. Overall VERY easy to deal with, no awkwardness at all.
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So I have now have the cash in the bank and am actively looking for cars. I have set aside £20k from the inheritance and a couple of thousand from my own savings to give me a £22k budget plus my car.
I have seen the following car which they say includes the remaining BMW warranty and the remainder of a 5 year service plan.
Price seems okay, but it appears to be a one man band jobbie selling from a house rather than an actual forecourt trader (also not sure I want to get a newish car not direct from BMW).
http://www.autotrader.co.uk/classified/advert/201605314468222/usedcars?logcode=visc
It is about 100 miles from me, which isnt super far but enough to make it not one I can just pop in and have a look at.
I have seen the following car which they say includes the remaining BMW warranty and the remainder of a 5 year service plan.
Price seems okay, but it appears to be a one man band jobbie selling from a house rather than an actual forecourt trader (also not sure I want to get a newish car not direct from BMW).
http://www.autotrader.co.uk/classified/advert/201605314468222/usedcars?logcode=visc
It is about 100 miles from me, which isnt super far but enough to make it not one I can just pop in and have a look at.
I don't think it matters if he is selling from home. if he is a real trader then the same rules apply no?
Looks very nice too.
