How do people afford nice cars?
- Thread starter dougguk
- Start date
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
Soldato
My salary hasnt risen at the same rate. If I bought my house now then Id be worse off 
Im talking about first homes really.
Either way, a car is nothing to be jealous of. You dont know the drivers situation at all.
They could be loaded and they bought it will pocket change. On the other hand, maybe they saved for years to buy it, or maybe they are paying on finance and its making them poor for ages.
Im talking about first homes really.
Either way, a car is nothing to be jealous of. You dont know the drivers situation at all.
They could be loaded and they bought it will pocket change. On the other hand, maybe they saved for years to buy it, or maybe they are paying on finance and its making them poor for ages.
something like 80% of new ferraris are bought on finance.
thats probably not because they dont have 100k available. its because the 100k they have has been put into an investment which returns 10%, 12%, 15%, 20% etc. and they are paying 5% finance.
so...
option a/ buy car outright.
option b/ buy car in finance, pay 5% year, invest 100k in something that returns 10%pa. make 5% on the difference.
you decide
thats probably not because they dont have 100k available. its because the 100k they have has been put into an investment which returns 10%, 12%, 15%, 20% etc. and they are paying 5% finance.
so...
option a/ buy car outright.
option b/ buy car in finance, pay 5% year, invest 100k in something that returns 10%pa. make 5% on the difference.
you decide
Soldato
Zip said:While some markets in some areas climb some areas plumet. You by the area that has just dropped but is starting to rise again
People make millions out of doing that
Actually homes fell in value last month according to one of the major mortgage lenders.
Halifax
I think that anyone expecting to make millions out of UK property has sadly missed the opportunity.
Suspended
So you remortgage the house and buy that nice little AMV8. Cheapest way to borrow money. Up the monthly payments on the mortgage to offset the extra.[TW]Fox said:
D4VE said:
Very true. Reminds me about a guy i know who goes to the same sandwich bar as me for lunch sometimes. I always used to see him driving around in a knackered 1980's Hyundai that was seriously rusting and really not good.
I used to wonder how he could even afford a sandwich, let alone ever have a good car, till about 12 months ago when the same guy pulled up in a brand new Nissan 350Z.
I guess he'd been driving around an old knacker whilst saving up.
Im the same now, ive gone from nearly new car, to 80's volvo, but its saving me a small fortune in running costs and finance payments every month. People might look at me and think i have no money at all, but hell, i know different and im kinda happier now with my volvo than i was with a nearly new car.
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TomO said:something like 80% of new ferraris are bought on finance.
thats probably not because they dont have 100k available. its because the 100k they have has been put into an investment which returns 10%, 12%, 15%, 20% etc. and they are paying 5% finance.
so...
option a/ buy car outright.
option b/ buy car in finance, pay 5% year, invest 100k in something that returns 10%pa. make 5% on the difference.
you decide
Might have to get some advice off you in due course
Soldato
dougguk said:
Countless victim of fraud, Nigeria scam, working and claim benefit, Compensation culture, Blackmail, Bootlegging.........
Seriously, i save up for my car (drives a sexy fto) and i put in the extra hours. On top of that i sometimes get money from home.
I dont fancy finance as i dont feel comfortable driving in something that is technically not mine/african mentality....
Soldato
I don't think I'll ever buy a brand new car, despite the wage I might be on in the future (unless it's £100K+ )
As much as I like cars, I'd be happy investing a few K in something old yet in good working condition. I think my 96 Clio will serve me well for a few years.
)As much as I like cars, I'd be happy investing a few K in something old yet in good working condition. I think my 96 Clio will serve me well for a few years.