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Charlie Don't Surf

How Much Would You Spend On A Car?

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As for cars being a credit fuelled bubble - maybe, but so long as you don't buy cars on credit - only spend money you can afford to lose - then where's the problem? Only car I ever got on credit was my first car - was a gamble, but it paid for itself in the end as it allowed me to do on-call work on my first job which turned out to be quite profitable.

Nothing worng with leasing cars on credit whatsoever.

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As posted previously, if I want to go quicker than the speed limit, I go to a runway.

In that case the marginal benefits you are receiving for this car's "superior ride" do not justify the money you are willing to pay for it.

Moreover, although I've always liked you, your answer lays you open to a Cameron moment for whic I will refuse to apologise. To claim you aren't buying a car for its bragging value in one breath, only to then claim you "go to a runway" to break the speed limit (fly a plane) strikes me as "phony" epitomised.

Edited by Sledgehead

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I spend way too much on cars and would spend as much as most who have posted. I buy in cash and I can afford them.

Now houses... I dont have one because I cannot afford one which I would want. I dont need to own one and it is cheaper not to do so.

I dont think that this goes against the HPC ethos at all - yes, I lose money on a car but it is something I can afford. I would do the same if i could get the house I wanted and could afford it. Hence, bring on the crash so that may become the case!

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Nothing worng with leasing cars on credit whatsoever.

Sorry, perhaps I should clarify. I'm talking about private individuals taking out unsecured loans for the entire value of the car that's going to be in 'negative equity' as soon as it roles off the forecourt. Nothing wrong with leasing deals you can get out of when you like if you've got the money to spend - in fact for business users who can dodge the VAT it can make a lot of sense.

Edited by impatient_mug

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Here is Tunisia it is bizzare as cars do not depreciate as much as the UK and people are totally image obsessed (probably as no money) and they buy cars on finance 30% higher priced than Europe and levels akin to 2 years wage + as they assume that they can sell for 80% of the alue after 3 years.

Can you tell us more about the image obsession, and how it's reflected in cars and other possessions, please?

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I spend way too much on cars and would spend as much as most who have posted. I buy in cash and I can afford them.

Now houses... I dont have one because I cannot afford one which I would want. I dont need to own one and it is cheaper not to do so.

I dont think that this goes against the HPC ethos at all - yes, I lose money on a car but it is something I can afford. I would do the same if i could get the house I wanted and could afford it. Hence, bring on the crash so that may become the case!

Yeah - that sums up my attitude too.

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Why do you need the ultimate drivers car at a runway? Surely a track would be better.

P.S. NSX looks incomplete without underbody neon lighting.

You don't have to be going at license threatening speeds on a good A road to enjoy a drive and appreciate the car (steering, noise, balance, acceleration etc). TBH, I would get a Caterham for track work as it would be cheaper to fix when my limited talent runs out.

Going at 160+ on a runway isn't actually that exciting, but it is good to see how fast the car will go (within 1.7 miles)

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I still bought a flat tho - My timing was just very very very wrong :-)

If you buy into a credit fuelled asset with cash, you get to lose exactly the same amount of money as somebody who bought in with debt. In fact, you don't even get to benefit from the fall in fianancing costs many mortgagees now see. As long as you don't get repo'd buying an asset with credit can be less financially damaging than buying it with cash. So if you want to call heavily mortgaged buyers mugs you have a logic problem. You are both suffering from equity destruction but they are benefitting from cheap finance.

As for cars being a credit fuelled bubble - maybe, but so long as you don't buy cars on credit - only spend money you can afford to lose - then where's the problem?

Same as above.

You might as well call the army of green horns that marched into dotcom wise because they did so with their own money.

Edited by Sledgehead

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Sorry, perhaps I should clarify. I'm talking about private individuals taking out unsecured loans for the entire value of the car that's going to be in 'negative equity' as soon as it roles off the forecourt. Nothing wrong with leasing deals you can get out of when you like if you've got the money to spend - in fact for business users who can dodge the VAT it can make a lot of sense.

Its even better than that for me as well as no VAT on purchase or ownership costs(GST where I live in oz). My full running and ownership costs even though I am a private individual are dedcuted from my pre-tax salary as a salry sacrifice. This effectively reduces the payments by 45% as that is the tax threshold I would have to pay if I took the repaymenst as income post tax.

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In that case the marginal benefits you are receiving for this car's "superior ride" do not justify the money you are willing to pay for it.

Moreover, although I've always liked you, your answer lays you open to a Cameron moment for whic I will refuse to apologise. To claim you aren't buying a car for its bragging value in one breath, only to then claim you "go to a runway" to break the speed limit (fly a plane) strikes me as "phony" epitomised.

But the benefits are not marginal IMO. As I said, if I wanted a car for bragging rights, I would've bought an Italian car. Most people (non car nuts), when ask what I drive have no idea what the NSX is.

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Going at 160+ on a runway isn't actually that exciting, but it is good to see how fast the car will go (within 1.7 miles)

Oh? How disappointing. I thought you meant you went to a runway to actually fly.

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never knew they existed, but reading about it now

Took me two years to find one, the 99+ series 8 are the best. I drove one back in 1994 and thought I'd get one of those one day, only took me 12 years, probably the same amount of time I'll have to wait for house prices to drop far enough! I know of one Spirit R for sale at £20K, the best one they ever made.

Have you ever had yours on a dyno?

Just my gtech, measured 275bhp at the wheels on a couple of runs on a cold day , more than I would have expected. I think they are supposed to be around 300bhp at the flywheel but spec'd at 280 for the Japanese limit at the time.

The single tubby boys get theirs up to 450bhp, not bad for a 1.3 litre engine!

VMR.

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If you buy into a credit fuelled asset with cash, you get to lose exactly the same amount of money as somebody who bought in with debt. In fact, you don't even get to benefit from the fall in fianancing costs many mortgagees now see. As long as you don't get repo'd buying an asset with credit can be less financially damaging than buying it with cash. So if you want to call heavily mortgaged buyers mugs you have a logic problem. You are both suffering from equity destruction but they are benefitting from cheap finance.

Same as above.

You might as well call the army of green horns that marched into dotcom wise because they did so with their own money.

In addition to this there is the loss of opportunity on the cash you dont have to invest, and the loss of the benefit or inflation eroding your debt that was taken out on yesterdays money.

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Its even better than that for me as well as no VAT on purchase or ownership costs(GST where I live in oz). My full running and ownership costs even though I am a private individual are dedcuted from my pre-tax salary as a salry sacrifice. This effectively reduces the payments by 45% as that is the tax threshold I would have to pay if I took the repaymenst as income post tax.

.. and they still say that this whole economic disaster occured because of the failure of the free market. :lol:

Forget that bulls!t.

The nano and its bigger and better brothers are coming. That's the free market. Give it a cheer and stop pandering to all of this command / protectionist crap.

That huge ***** extension is depreciating fast - ie cheaper cars. Like cheaper houses. You do want cheaper cars, don't you? ;)

Edited by Sledgehead

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If you buy into a credit fuelled asset with cash, you get to lose exactly the same amount of money as somebody who bought in with debt. In fact, you don't even get to benefit from the fall in fianancing costs many mortgagees now see. As long as you don't get repo'd buying an asset with credit can be less financially damaging than buying it with cash. So if you want to call heavily mortgaged buyers mugs you have a logic problem. You are both suffering from equity destruction but they are benefitting from cheap finance.

I agree that even if you were one of the few that bought with 100% cash you've still lost a ton of money. If you couldn't afford to lose that money you wouldn't have spent it to start with. Correct me if I'm wrong, but it's not people who bought items with cash that are causing the problems, is it? It's people who over-extended themselves and now can't keep up with their commitments.

Secondly, I did buy my flat on credit (mortgage), and as I fixed am not getting the advantages of the current cheap rates, so yes, I am a mug :-) I'd still rather be on a 6% 2.8x mortgage rather than a 0.5% 6x mortgage.

If someone with cash wants to set fire to large chunks of money then I can't see the problem. If someone sets fire to a load of borrowed money instead of paying it back, then there be problems...

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Well, I think this thread has been pretty telling.

Essentially half the people here who think were are in deep financial trouble due to excessive credit, also don't mind paying over the odds for credit-bubbled depreciating toys. Well done peeps, you've well frucked the integrity of the site! :lol:

Well, I bought my £50k one with cash. It was either that or sink it into a 3 bed-semi. In terms of value for money, I made the right decision. I have had lots of enjoyment out of it, whereas if I had bought the house I would have had nothing but financial worry. Have i lost a lot on it? Yes, but I would have lost a lot more on the house.

I posted 2 years ago about houses near me that were up for sale for ridiculous money but that had crap cars outside. I thought at the time that just emphasised how out of sync house prices were with the rest of the economy and I stick by that. Car prices have barely risen in the last few years, hence you see people with Vectras living in houses that are supposedly worth £600k.

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Aren't most "posh" car company cars though, I mean DH's car is worth about £40k but costs us very little in tax because of the emissions but would I physically hand over £40,000 for a car, never in a million years.

Am about to pay £3,000 for a 2004 one and it's going to break my heart :)

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I posted 2 years ago about houses near me that were up for sale for ridiculous money but that had crap cars outside. ... hence you see people with Vectras living in houses that are supposedly worth £600k.
story.jpg

'the end is nigh' shows us how it should be

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Guest DisposableHeroes
story.jpg

'the end is nigh' shows us how it should be

I don't view much media. Is that Fred Goodwin?

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The Aston was 90K and costs me 1173 a month + running costs etc so maybe about 1500 all in. That is 6% of my monthly Net take home pay.

What do you do that allows you to net £25,000 a month?

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These HPC surveys are becoming more frequent. Best to set up a database

with everyone's details. Here are mine, so I don't need to respond to any more :-

Abbey Building Society a/c 100-234-678365 £26,700

Premium Bonds 334523456 issue 278946533-279894897 £30,000

Visa Card 4929 2031 8976

Mastercard 5301 6228 1098

Shoe size 10 G

Chest 40"

Inside leg 29"

Penls 9.5" (erect)

Collar 16

Salary £32,500 + tips

Washing machine - Hotpoint 200 variflux

Favourite colour - Lilac

favourite meal - haggis and coleslaw

favourite position - anything that leaves me still solvent

Edited by PotNoodle

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stop worrying about what everyone else is driving - they're probably all 'owned' by Ocean Finance anyway...

I really miss their adverts.

Plenty of excellent value 3-5 year-old cars out there if you look hard enough.

Ocean Finance are back advertising on TV agin...you must be sleeping :)

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These HPC surveys are becoming more frequent. Best to set up a database

with everyone's details. Here are mine, so I don't need to respond to any more :-

Abbey Building Society a/c 100-234-678365 £26,700

Premium Bonds 334523456 issue 278946533-279894897 £30,000

Visa Card 4929 2031 8976

Mastercard 5301 6228 1098

Shoe size 10 G

Chest 40"

Inside leg 29"

Penls 9.5" (erect)

Collar 16

Salary £32,500 + tips

Washing machine - Hotpoint 200 variflux

Favourite colour - Lilac

favourite meal - haggis and coleslaw

favourite position - anything that leaves me still solvent

Sex?

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  • 317 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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