another car vs house deposit

Soldato
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there is an S4 i want to go see this afternoon, basically the biggest thing ive got against getting is that the money ive got put aside is in this wild hope ill be able to cobble together the deposit for a place soon

the audi is only £5k-£6k but obviously is a fair chunk of the deposit ive saved for

car or house

i already have a car and tbh only want to change because im getting a bit bored of it
 
Associate
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there is an S4 i want to go see this afternoon, basically the biggest thing ive got against getting is that the money ive got put aside is in this wild hope ill be able to cobble together the deposit for a place soon

the audi is only £5k-£6k but obviously is a fair chunk of the deposit ive saved for

car or house

i already have a car and tbh only want to change because im getting a bit bored of it

Only you can decide what is more important ;-)

But - there are good mortgages available at the moment, so if you can afford to buy it can be a good time to buy. And in 3 years time, you'll be able to get an even nicer S4 ;)
 
Soldato
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With the house prices being a bit lower now I would suggest getting a house, Im in the same situation as you, we just bought a flat so the girlfriend and I are both sharing one decent car and one old Mondeo instead of having a nice car each.

Oh and I forgot to say buying a 5k S4 is crazy the running costs are going to be huge !
 
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Associate
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I just had the same dilema. Has some money saved for house deposit, but really wanted new car too. You have to go for the house/flat, nice cars can come later.
 
Soldato
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I love the S4, but your own house is always going to be better and getting on the property ladder now might be a good idea with the house prices being low.

Remember, that with the S4, it's going to cost a LOT to maintain, so you may not be saving as much for your house deposit.
 
Soldato
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It doesn't matter how epic a car is, your own pad is better!

yup. thats what my head keeps saying. my heart is saying other things that im desperately trying to ignore

house prices are OK at the moment, but i wanted them to drop further. i think ill be making hte jump in 5-6 months

as for the s4, the running costs would be like any other 300bhp saloon for 10 years ago, i can justify all that, but not when im on the brink of getting on the property ladder. burning money through renting sucks and ive been saying for years theres going to be another recession. ive spent less on rent in 2 years than other people i know have lost on negitive equity though
 
Man of Honour
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house prices are OK at the moment, but i wanted them to drop further. i think ill be making hte jump in 5-6 months



Unlikely. They may stagnate (and probably will) until after Xmas, but the prices are unlikely to fall: there are too few properties still on the market to drive prices down. Buy the house.


M
 
Associate
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as for the s4, the running costs would be like any other 300bhp saloon for 10 years ago

No, they really won't. By now most are getting tired and need some fettling to get back to top running order, plus to have 300bhp it'd have to be chipped as they're 265 std.
The 2.7 biturbo was never a cheap motor to maintain as it has 2 of everything to go wrong.

I'd give MRC a call to see how much a 5-6k car could cost you to correct. They are one of the few real 2.7TT specialists that really know their stuff

At a minimum I'd be looking for one that's had all the preventative work done (new n75's, replaced oil feeds, new dv's, boost pipes etc)
Worth paying more for one with replaced turbo's, although you won't get K04's for that sort of money it saves you the cost of having it done in future (engine out job)

The rest of the car should be no more expensive than similar cars
 
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Soldato
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having looked into mortgages the last few months unless you have a 20% you'd be hard pushed to get a good deal. they're less eager to lend due to the mess the banks got into hence loads of repossessed houses around.

the wrong reason to get married but unless i am i can forget a house.:(:o

it's all relative. with loads of people jobless its cheaper but as the economy gets back to how it were the houses will pick up again.
 
Soldato
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Plenty of decent 90% mortgages at the moment, HSBC are doing one at 3.89% fixed for two years, decent deal. Plus if you can scrape together the rest of a deposit by the end of the year you could get in before the stamp duty threshold gets reverted.

Oh and if you haven't guessed forget about the car and get a house bought asap ;)
 
Soldato
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What is that old saying?

You can live in your car, but you can't drive your house.
 
Permabanned
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Depends on your stance with house prices. If your views are bearish, you will believe house prices are still high compared to salaries, and have further to fall once all the artifical economic stimuli has stopped. If you are bullish, you will believe house prices are now at their lowest, and will increase again, so now is the time to jump in.

The majority of the country are bullish, but that has little relevance to the end result.


Buying a car now is a bad idea period. Used prices have increased by 30%, and the market has been temporarily been manipulated.


My advise is to continue saving, and buy nothing.
 

Jez

Jez

Caporegime
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House, the car is a silly idea in this situation. Plenty of time to be buying cars later
 
Soldato
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the thread says exactly what i thought it would. i could replace the missing money in 8-9 months or whatever but in 8-9 months that wedge would have an S4 sized lump missing.

looking after the car would be no issue at all, im not worried about two of everything breaking or 25mpg, ive had all that before, but in the past id never have had a chance to get on the property ladder (sensibly)

anyway, im keeping the golf. i might experiment with tyre pressures or get new suspension to sort the ride out, and itll be getting some paint this winter

have to wait and see what house prices do. im relatively clueless about that sort of thing, but i still feel theyre high compared to what stuff cost when i left uni
 
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