Poll: Do you actually own your car?

[Gibbo]

Perhaps for normal joe cars, but right now some people with really expensive stuff can't get out of them because even dealers who sold them it new 6 months ago won't take them into stock or even bid on them and you can be sure a WBAC would not go close to it. To my thread about car prices the market is in free fall at the moment and with 349 McLarens for sale on Pistonheads, it's not surprising. Oversupply is great for the new buyer, but come resale then BOOM. At least on a 3 year PCP you can give it back, if you own it, you are roger'd with a big roger.

Great though for you mate if Mclaren is your next choice, at the current freefall the idea of 570S be out the window and you'll be dropping into a 720S.
Mclaren used is not appealing to so many because there are no specialist because of the silly rules Mclaren set unless things have changed now, so there decisions to not support used and aftermarket is really going to end up biting them so hard in the backside.

Next year, especially if you wait I can see you landing an insane deal, if we think things are looking good now and I can see Mclaren been hit insanely hard next year, especially if they also release another 4-5 new models as expected as well.

Not that I like them but MP4-12C's are swapping hands for 70k, reason been because they are pushing and selling so many, then the after support is truly lacking on used stuff and without warranty they will prove very expensive to run and the people I know who owned 12C's all had issues with them, bloody quick cars though.

 

[Kenai]

The flip side is when those investments don't go to plan, like a chap at work who tried the same game and has successfully turned his resulting £10k into £8k

 

[[ui]ICEMAN]

The flip side is when those investments don't go to plan, like a chap at work who tried the same game and has successfully turned his resulting £10k into £8k

If you’re thinking short term then yes, but over a 10 year period I can count on 10% on the stock market averaged. Investments are only lost if you can’t afford to stay in the market. Depreciation isn’t realized either until you sell the asset.

 

[Gibbo]

If you’re thinking short term then yes, but over a 10 year period I can count on 10% on the stock market averaged. Investments are only lost if you can’t afford to stay in the market. Depreciation isn’t realized either until you sell the asset.

This, I sold my CSL at wrong time, so lets not talk about that, but if I'd have kept it I'd have doubled my money.

 

[Tee Hee Johnson]

We own both of ours, I would hate more payments coming out other than the mortgage and basics.

A 2010 Fiesta and a 2014 Fiesta.

 

[Kenai]

If you’re thinking short term then yes, but over a 10 year period I can count on 10% on the stock market averaged. Investments are only lost if you can’t afford to stay in the market. Depreciation isn’t realized either until you sell the asset.

Very true but in the context of normal people buying normal cars, short term is a very real potential if that money is expected to help contribute to the next car in the sequence.

 

[[ui]ICEMAN]

This, I sold my CSL at wrong time, so lets not talk about that, but if I'd have kept it I'd have doubled my money.

You win some, and lose some, but this is also a bit of a misnomer with cars and boats, as you’re not factoring in the cost to keep it over that time. My 430 doubled in value too, due to being manual, but what would it have cost me to keep it running during that time? Would I have still made a profit? Probably so, but not as large as the “value” may suggest.

 

[[ui]ICEMAN]

Very true but in the context of normal people buying normal cars, short term is a very real potential if that money is expected to help contribute to the next car in the sequence.

Without meaning to seem insensitive, if you can’t afford to “lose” an investment, you shouldn’t be doing it. Now I understand risks need to be taken, but you have to be aware of that, and the potential that that risk will bite you. It’s nothing more than gambling if you’re doing high risk stuff in short term.

This is a good discussion though, and highlights that different situations afford different options. Some people will deem cash as king, and therefore want to maintain as much liquidity as possible. Others will minimize their savings and investments for the security of owning outright.

 

[Skillmister]

I’m so bad I’d forgotten I also own a VW Up too, though I purchased it outright for my mother as a gift so I guess it’s technical hers.

It must suck to "forget" you bought a car

 

[Kenai]

Without meaning to seem insensitive, if you can’t afford to “lose” an investment, you shouldn’t be doing it. Now I understand risks need to be taken, but you have to be aware of that, and the potential that that risk will bite you. It’s nothing more than gambling if you’re doing high risk stuff in short term.

That was precisely my point, in response to the 'Finance it and invest the rest, that's the clever thing to do' posts.

That's all very well if you can afford to take that risk but for Dave Smith buying his latest 2.0TDI Focus, he's unlikely to be able to achieve much with his £10k without engaging in some risk and as has happened to a colleague, it has bitten him and now come the time he wants a new car, he's got less money than planned.

 

[Gibbo]

It must suck to "forget" you bought a car

Well in fairness I don't drive it, I just maintain it and like a Polo, the Up is to be feared so I try to blank it from memory.

In reality bloody superb car!

 

[[ui]ICEMAN]

That was precisely my point, in response to the 'Finance it and invest the rest, that's the clever thing to do' posts.

Indeed, I was agreeing with you and just expanding upon the point

 

[Housey]

720 is what I would like most I think. Time and market will determine that, but not in a rush as my R8 is hardly a hardship.

 

[Django x2]

If so what do you drive?

By own I mean, no PCP, HP, leasing of any sort.

Could a mod turn this into a poll please? Be interesting to see the results.

This isn't a dig at anyone who chooses to finance their car btw, I understand that the only way for most people to afford a new car is to go on PCP.

So finance by any other method is ok?

Then yes, own one, lease another.

 

[Housey]

"know all, know **** alls"

I tried to create a hash tag thingy for that line as I like to use it too. We have many on this forum like any forum (no inference to people on this thread I add) but when I tried on Twitter after a long day, it all went to #crap with my #NIANFA attempt. It helps to be clever with this stuff....so I gave up

 

[NathWraith]

Personally, I always put down 20-30% on cars to make sure they’re always positive. I financed the GT4 at 1.9%, and make 9-13% on the invested money.

This is what I am alluding too RE finance, makes perfect sense in this scenario.

 

[Housey]

That was precisely my point, in response to the 'Finance it and invest the rest, that's the clever thing to do' posts.

That's all very well if you can afford to take that risk but for Dave Smith buying his latest 2.0TDI Focus, he's unlikely to be able to achieve much with his £10k without engaging in some risk and as has happened to a colleague, it has bitten him and now come the time he wants a new car, he's got less money than planned.

To be fair Dave's got a BMW

Oh wait, you mean a different Dave

 

[Mal X]

Great though for you mate if Mclaren is your next choice, at the current freefall the idea of 570S be out the window and you'll be dropping into a 720S.
Mclaren used is not appealing to so many because there are no specialist because of the silly rules Mclaren set unless things have changed now, so there decisions to not support used and aftermarket is really going to end up biting them so hard in the backside.

Next year, especially if you wait I can see you landing an insane deal, if we think things are looking good now and I can see Mclaren been hit insanely hard next year, especially if they also release another 4-5 new models as expected as well.

Not that I like them but MP4-12C's are swapping hands for 70k, reason been because they are pushing and selling so many, then the after support is truly lacking on used stuff and without warranty they will prove very expensive to run and the people I know who owned 12C's all had issues with them, bloody quick cars though.

if nobody buys those Mclarens then yes they will drop in price far more than now, it's just stock that they cant get rid and becoming ever DESPERATE to do so .................mega expensive to maintain and nobody around her will do it? yes this is the killer.

349 Mclarens for sale is one hell of a lot of cars that's more than the entire range of Subarus on Pistonheads .........WOW, my God i never realised it was this bad, last time i looked, about a year ago the Mclarens were only 4 pages.

 

[Kenai]

To be fair Dave's got a BMW

Oh wait, you mean a different Dave

He might have to go for an SE this time round, the horror

 

[Housey]

In my experience hardly anyone without proper money invests the car money when not buying a car outright. They typically put it on other stuff like TV's, holidays, presents, food, fuel, houses etc. Nothing wrong with that, finance is a nuanced thing that is different for everyone but hardly anyone outside of cash rich will invest their 80K they chose not to spend on that GT3 into porn stocks or whatever is 'still' big these days.