Something went wrong, ordered a Mustang, yet ended up in a British hotrod, I blame OcUK!

Just to add, I've found this thread extremely helpful and insightful to the financing world of cars. It's letting me plan my next moves at least and know what deals are available/attainable. Thank you for being open & honest in this regard.
 
Yurka said:
Just to add, I've found this thread extremely helpful and insightful to the financing world of cars. It's letting me plan my next moves at least and know what deals are available/attainable. Thank you for being open & honest in this regard.
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It’s a weird phenomenon.

All of a sudden everyone is like ‘yes finance!’. On another thread people were having a go because I choose to finance a car I want (completely unrelated to the actual thread).

I feel like the 458 is a better bet depreciation wise, though I do like the V10.

I also saw the Huracan spider link on the last few pages. They look amazing but sadly I don’t fit in terms of leg room - you lose so much of it with the soft top, I could just about sit in it but it wasn’t comfortable where the pedals were.
 
Blackhawk47 said:
It’s a weird phenomenon.

All of a sudden everyone is like ‘yes finance!’. On another thread people were having a go because I choose to finance a car I want (completely unrelated to the actual thread).

I feel like the 458 is a better bet depreciation wise, though I do like the V10.

I also saw the Huracan spider link on the last few pages. They look amazing but sadly I don’t fit in terms of leg room - you lose so much of it with the soft top, I could just about sit in it but it wasn’t comfortable where the pedals were.
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458 is not dismissed but a few owners have warned me though reliable that they typically cost 5-10k per year to service with a warranty simply because of none service items needing replacing typically that cost extra so is something to budget for upto 10k year in service and repairs that warranty won’t cover.

I’d love a Spyder but the soft top kills it for me if they were metal hard tops that looked like coupe when closed I’d probably go for one but just dislike a soft top when it’s up which is a large percentage of the time.
 
@Blackhawk47, I always find the majority of those who are so against finance are just morons who are against anyone being happy and despise the fact that people are able to buy things that make them happy

Providing the repayments are a small or manageable percentage of your monthly income, and you’re not at risk. Then why not?

A lot of people still live in the past and hate anything other than purchases made with the cash stored under their mattress
 
Yeah I'll likely never have this sort of money to chuck about but I don't see the issue reading about it. He's musing about how to spend his cash not shoving it in our faces and going "LOL I CAN BUY A LAMBO" so it's fine by me. I just look forward to seeing it go up the strip at Pod :D don't often see proper supercars there.
 
Rossi~ said:
**** that mate :eek:
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Kind of my thinking because these are owners who don’t use as a daily and I’d be driving it daily so a good chance of needing that service/repair bill budget. Could get lucky and it not cost a penny but I’d hate to be driving a car that I thought felt fragile.

It’s also why a GT3 is the most sensible choice as modern ones super reliable and servicing is good price for type of car.

If it was not Lambo because of well Lambo and the emotion and fun and grin factor a GT3 would be easy choice due to their driving excellence but also a GT3 on the road is maybe a tad annoying to use as 7500rpm plus in 2nd is breaking speed limit.
 
Blackhawk47 said:
All of a sudden everyone is like ‘yes finance!’. On another thread people were having a go because I choose to finance a car I want (completely unrelated to the actual thread).
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People have a poor grasp of financial responsibility.

Finance is fine as long as you go in eyes open, its not fine when people are putting themselves in risky situations because of it.
 
A lot of the time a car left standing will end up needing more preventative repair maintenance than one use (outside of normal service work), seals etc deteriorate terribly when not used / lubricated.

The Ferrari does sound more fragile in general though.
 
kindai said:
People have a poor grasp of financial responsibility.

Finance is fine as long as you go in eyes open, its not fine when people are putting themselves in risky situations because of it.
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Exactly!
I’ve shared my findings to help others and to show the options as I was not aware of interest only option which for me not only means paying less interest but a lower monthly that allows more cash to be saved towards balloon.

For me options are:

1. Sensible and easy!
130-150k, 70-80k down, interest only of around £250-300 a month with 70k end balloon, save 1k a month, over pay by 8k per year leaving a 54k balloon with around 30k saved, then open up some funds or bank loan for 15k and own the car. Probably be worth 110-120k and sell privately giving 120-130k deposit for next car. At which time EVO’s will have come down or if Performante drop head there or another brand or realise owning a super car is a real pain and just drive Clio everywhere. :D Plus of course this option is also great should earnings not go so well or even if the car throws a big repair bill that warranty does not cover, something else to consider.

2. Achievable but but not ownership at end and a gamble:
200k, 80k down, interest only of around £650 per month with 120k end balloon. Make over payments and get that down to 90-100k end balloon. Unless a miracle happens like crypto goes 5x fold I won’t have 100k saved to pay that balloon. Could get it down to maybe 70k and refinance it but monthly would be over 2k. Worse case it’s worth 150k so I get 30k back most likely it’s worth 170-180k so 50-60k back and if they go same way as Speciale and Pista then it’s worth 300k plus so I get 180k back. That is the gamble, I hate losing money it’s why I don’t gamble or extremely rare I do and if I lose even a tenner I’m in a bad mood. Advantage newer car, there should be no big bills and potential of making some monies.


First choice is sensible try to get an epic deal on right car or some extras thrown in that increase it’s value, cough race exhaust.

My thinking is if I could get that green Lambo for 135k I’d then put 85k in to only be financing 50k, over pay and under £200 a month at which point end balloon is paid off with no issue. Seems better than dropping 200k on something I can’t own at the end and gives me a level of progression for next car.
 
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Berger said:
I thought your limit was max 130k only a week ago?

Getting a bit boring now, boy who cried wolf scenario almost.

You have a nice car already. Be happy with it and post a thread when you get a new one.

We don’t need a blow by blow account of a specific set of financial circumstances and moon alignment which will allow you to buy it.
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Surely his limit varies once different opinions are put forward which in turn opens his eyes to other avenues?

I’m finding this thread incredibly informative tbh, not about Gibbo’s circumstances - he’s clearly doing well for himself - but about how you actually do fund something like a Ferrari / Lamborghini or whatever.

As for him almost being the boy who cried wolf that’s just crap.

I recall threads where he discussed Mustangs - bought and hugely modded one, M3 CSL - bought one, Porsche 911 - bought one, M3 Track car - had bought it prior to the thread, another Mustang etc etc etc not much wolf crying there wouldn’t you agree?

It’s a Motors forum for motoring enthusiasts, had you met Gibbo (which I’m assuming you haven’t) you’d soon see he lives and breathes Cars, isn’t up himself in the slightest and has a passion for sharing his interest in cars - hence the OC/UK meetings he’s been organising for example.

That he’s willing to actually put down all the figures for us to understand - and if need be apply to maybe a lesser vehicle- is great in my opinion and somewhat unusual but extremely useful and educational in many ways.

The flash twonks of this world are the ones who just say “hey look at me and what I’ve got” they want the world to think their loaded and don’t want the reality of how they’ve financed their house / car / whatever to come out.

That imo isn’t Gibbo at all, I’m afraid you come across as somewhat jealous to put it mildly!
 
Gibbo said:
458 is not dismissed but a few owners have warned me though reliable that they typically cost 5-10k per year to service with a warranty simply because of none service items needing replacing typically that cost extra so is something to budget for upto 10k year in service and repairs that warranty won’t cover.

I’d love a Spyder but the soft top kills it for me if they were metal hard tops that looked like coupe when closed I’d probably go for one but just dislike a soft top when it’s up which is a large percentage of the time.
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You wouldn’t fit in a Huracan spider... you’re too tall :)
 
Scania said:
Surely his limit varies once different opinions are put forward which in turn opens his eyes to other avenues?

I’m finding this thread incredibly informative tbh, not about Gibbo’s circumstances - he’s clearly doing well

That he’s willing to put down all the figures for us to understand - and if need be apply to maybe a lesser vehicle- is great in my opinion and somewhat unusual but extremely useful and educational in many ways.

The flash twonks of this world are the ones who just say “hey look at me and what I’ve got” they want the world to think their loaded and don’t want the reality of how they’ve financed their house / car / whatever to come out.

That imo isn’t Gibbo at all, I’m afraid you come across as somewhat jealous to put it mildly!
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Except that without total transparency of all expenditures, assets etc which you’ll never get it is impossible to compare or provide advice on what is the best investment to make.

Without a huge spreadsheet of costs to track and compare the different deals offered.

I’m sure the blokes in the video were jumping up and down to loan you money at what seems like a high rate.

Given it seems like Gibbo has a massive excess of spare income (if he can pay finance, interest, overpay & save for a huge balloon payment) I’d just sit on it for 9-12 months and turn that 90k deposit into a much larger one.
 
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