What modern car as an investment?
25 September 2008, 01:04 PM
#61
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Mini Cooper would be the safe bet at this money if you're just buying a car. Stay away from any large uber-diesels, I think they'll tank in a couple of years. 4x4s are a liability even at £10k. Hot-hatches will be surprisingly good.
In terms of "investment" go for E30 M3s, E39 M5s and if you're feeling a bit brave the cleanest, least molested, lowest mileage R32 Skyline GTR you can find. But as you said, you shouldn't be driving them daily.
In terms of "investment" go for E30 M3s, E39 M5s and if you're feeling a bit brave the cleanest, least molested, lowest mileage R32 Skyline GTR you can find. But as you said, you shouldn't be driving them daily.
25 September 2008, 01:13 PM
#62
If you look back in my posts,my brother in law was trying to sell his mini cooper chilli pack..I advertised it on here for him...
There now a bad seller as there going wrong so much,he really struggled to get rid of his.Had it advertised for ages,ended up taking a grand under book..
They used to be good news,not anymore though... Apparently Audi A2's and Merc A classes are the best buys my trader mates tell me..Not my kinda thing,but they know there trade..
All the cars you have suggested are excellent motors.. The E39 M5 is dropping like an anchor ATM tho ,my frend has lost 6k in 18 months on his...And its a lovely example,i may be buying it myelf if i can shift my E39 sport..The other 2 are good buyers,but daily use will kill any value right out of them,especially if your buying at the 10k point...
Ok...buy scruffy ones and maybe your money will be safer,but them maintainance bills will need watching.
Think the OP wanted "modern" cars anyway,not 15-20 yr old reptiles..
There now a bad seller as there going wrong so much,he really struggled to get rid of his.Had it advertised for ages,ended up taking a grand under book..
They used to be good news,not anymore though... Apparently Audi A2's and Merc A classes are the best buys my trader mates tell me..Not my kinda thing,but they know there trade..
All the cars you have suggested are excellent motors.. The E39 M5 is dropping like an anchor ATM tho ,my frend has lost 6k in 18 months on his...And its a lovely example,i may be buying it myelf if i can shift my E39 sport..The other 2 are good buyers,but daily use will kill any value right out of them,especially if your buying at the 10k point...
Ok...buy scruffy ones and maybe your money will be safer,but them maintainance bills will need watching.
Think the OP wanted "modern" cars anyway,not 15-20 yr old reptiles..
25 September 2008, 08:11 PM
#63
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Right now, it can't be that much more expensive to put the 10k in the savings account and hire a car at £100 per week in the short term. No tax, no insurance, no servicing, no tyres and when the market returns to normality then spend what's left of the 10k. My guess is that the market will get a little better next Spring. For example, a 3 year old Discovery 3 HSE has lost £1100 a month since May.
Another ploy is to buy a 2 year old car (therefore with balance of manufacturers warranty) that's already gone round the clock because of 'motorway miles' and drive it for up to a year. Won't gain in value but you'll get a newish car for less than half price.
Another ploy is to buy a 2 year old car (therefore with balance of manufacturers warranty) that's already gone round the clock because of 'motorway miles' and drive it for up to a year. Won't gain in value but you'll get a newish car for less than half price.
25 September 2008, 09:36 PM
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Right now, it can't be that much more expensive to put the 10k in the savings account and hire a car at £100 per week in the short term. No tax, no insurance, no servicing, no tyres and when the market returns to normality then spend what's left of the 10k. My guess is that the market will get a little better next Spring. For example, a 3 year old Discovery 3 HSE has lost £1100 a month since May.
Another ploy is to buy a 2 year old car (therefore with balance of manufacturers warranty) that's already gone round the clock because of 'motorway miles' and drive it for up to a year. Won't gain in value but you'll get a newish car for less than half price.
Another ploy is to buy a 2 year old car (therefore with balance of manufacturers warranty) that's already gone round the clock because of 'motorway miles' and drive it for up to a year. Won't gain in value but you'll get a newish car for less than half price.
26 September 2008, 07:53 AM
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Right now, it can't be that much more expensive to put the 10k in the savings account and hire a car at £100 per week in the short term. No tax, no insurance, no servicing, no tyres and when the market returns to normality then spend what's left of the 10k. My guess is that the market will get a little better next Spring. For example, a 3 year old Discovery 3 HSE has lost £1100 a month since May.
.
.
26 September 2008, 08:07 AM
#67
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My opinion on this is: Bank the ten large in a fixed return bond (Say 7.2% at the halifax ATM), and get a 3 yr PCP on a small diesel, EG Polo (£250 deposit and 7.9% apr)
If you left your £10,000 in the bank, you'll get £720 interest in the first 12 months, and then compounded interest of just under £800 for the second year, and then over £850 for your 3rd year (pre tax, and assuming the 7.2% is still available!) giving you around £2370 interest over the 3 years (no calculator handy, but this is fairly accurate at 7.2%!)
You'll pay less than £200 a month for the car (std 3 door Match model with air con,15" alloys, fog lights, electric windows, electric heated mirrors, colour coded trim), and circa £3-400 a year to insure (if you have decent NCD). Service plan for 3 years/30,000 miles is £225 inclusive. I wouldn't expect you to buy tyres for at least 2 years (prob need a set of fronts after 20k if it's mostly town driving) plus it's band B for tax (£35 a year!)plus the car does 47mpg around town/67mpg on the motorway!
Downside is it's a 3 year term, but you can hand it back at the end if the market is dead and walk away.
That'd cost you appx £8000 for 3 years, BUT you've STILL got 12k in the bank (your original 10k plus interest!)
The fact is that you've got a decent, reliable, WARRANTIED car to drive around in that WON'T cost a bomb to run. Ride out the crunch safe in the knowledge that it's not costing you a packet and that you'll still have money at the end of it!
On a serious note, if anyone would like a precise quote PM me.
If you left your £10,000 in the bank, you'll get £720 interest in the first 12 months, and then compounded interest of just under £800 for the second year, and then over £850 for your 3rd year (pre tax, and assuming the 7.2% is still available!) giving you around £2370 interest over the 3 years (no calculator handy, but this is fairly accurate at 7.2%!)
You'll pay less than £200 a month for the car (std 3 door Match model with air con,15" alloys, fog lights, electric windows, electric heated mirrors, colour coded trim), and circa £3-400 a year to insure (if you have decent NCD). Service plan for 3 years/30,000 miles is £225 inclusive. I wouldn't expect you to buy tyres for at least 2 years (prob need a set of fronts after 20k if it's mostly town driving) plus it's band B for tax (£35 a year!)plus the car does 47mpg around town/67mpg on the motorway!
Downside is it's a 3 year term, but you can hand it back at the end if the market is dead and walk away.
That'd cost you appx £8000 for 3 years, BUT you've STILL got 12k in the bank (your original 10k plus interest!)
The fact is that you've got a decent, reliable, WARRANTIED car to drive around in that WON'T cost a bomb to run. Ride out the crunch safe in the knowledge that it's not costing you a packet and that you'll still have money at the end of it!
On a serious note, if anyone would like a precise quote PM me.
Last edited by RJM25R; 26 September 2008 at 08:12 AM.
26 September 2008, 09:48 AM
#68
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I've just put this same scenario into the system at work for an exact quote, and you'd be looking at £198 in a flat colour or £206 in metallic! I'm most impressed at how accurate I was with my original "guesstimate!
It translates to 7.4% APR as well
It translates to 7.4% APR as well
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