depressed! - just realised i can't afford the car i want...
24 May 2003, 12:56 PM
#1
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*****.
for any group 20 car costing around 20k here is what i came up with for the monthly costs
per month
---------
20k car loan 5 years = 400
tax = 160 / 12 = 13
insurance = 6700 / 12 = 558
petrol 8000 miles / 12 = 666 / 16mpg = 44gals = 200litres * .779 = 155
servicing (tyres, etc) = 1000/12 = 83
total per month = *£1209* per month!!!
arghrgrhr. insurance is a real sting (22 yr old, NI), but even with no insurance it really does add up.
steven
for any group 20 car costing around 20k here is what i came up with for the monthly costs
per month
---------
20k car loan 5 years = 400
tax = 160 / 12 = 13
insurance = 6700 / 12 = 558
petrol 8000 miles / 12 = 666 / 16mpg = 44gals = 200litres * .779 = 155
servicing (tyres, etc) = 1000/12 = 83
total per month = *£1209* per month!!!
arghrgrhr. insurance is a real sting (22 yr old, NI), but even with no insurance it really does add up.
steven
24 May 2003, 01:06 PM
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looked at insurance on tvr's, lotuses, mercs and ranges from 4400 (TP) to 6700 (FC) and most won't insure. i can buy the car i want but just can run it argrhrghrgrhrgrhgrhrgrhrgrhrgrhr
argrhrghrgrhrgrhgrhrgrhrgrhrgrhr
24 May 2003, 01:32 PM
#5
you will have to wait, like the rest of us.
There is a lot of fun to be had in low insurance/cost cars, especially at your age, just build up your experience/claims record sensibly, what's the rush?
There is a lot of fun to be had in low insurance/cost cars, especially at your age, just build up your experience/claims record sensibly, what's the rush?
24 May 2003, 01:45 PM
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I would argue that if you have to borrow 20k over 5 years you actually *can't* afford to buy the car. Also you forgot to factor in depreciation. Add that to the figures and the true cost becomes apparent.
UB
UB
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24 May 2003, 01:54 PM
#8
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22 yrs old.....
I had a X reg maxda 1.5l GT when i was 22 and only got rid of it when the rust was too bad
I was 32 before i could afford my first scoob and still have it now...my00
For the price of your insurance you could get a really nice car....
Simon
all good things come to those who have to wait for them
I had a X reg maxda 1.5l GT when i was 22 and only got rid of it when the rust was too bad
I was 32 before i could afford my first scoob and still have it now...my00
For the price of your insurance you could get a really nice car....
Simon
all good things come to those who have to wait for them
24 May 2003, 02:17 PM
#9
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yes, but i'm an impatient git
got 4 years NCB - just my age is the problem. the value of the car (insurance group) doesn't really matter, i.e. anything half decent will hammer the insurance, nevermind a group 20 car.
no wonder young peeps don't pay insurance, if your caught you just get like a few hundred quid fine. wish i was dishonest enough to be one of the million people we are told that don't tax/insure their cars..
got 4 years NCB - just my age is the problem. the value of the car (insurance group) doesn't really matter, i.e. anything half decent will hammer the insurance, nevermind a group 20 car.
no wonder young peeps don't pay insurance, if your caught you just get like a few hundred quid fine. wish i was dishonest enough to be one of the million people we are told that don't tax/insure their cars..
24 May 2003, 02:31 PM
#10
what are you talking about here??
20k on a car?
If you want something with some guts why not get a GTi-R for £4,500?, insurance isn't the same on any group 20 car
As I understand the gti-r is 20 and the wrx is 20, i've had both and the insurance on the wrx cost me a lot more
20k on a car?
If you want something with some guts why not get a GTi-R for £4,500?, insurance isn't the same on any group 20 car
As I understand the gti-r is 20 and the wrx is 20, i've had both and the insurance on the wrx cost me a lot more
24 May 2003, 02:33 PM
#11
<<<<no wonder young peeps don't pay insurance, if your caught you just get like a few hundred quid fine. wish i was dishonest enough to be one of the million people we are told that don't tax/insure their cars..>>>
Have to agree with you here, avoiding £6700 insurance looks like a good deal if you get caught, and end up fined £400 or so.
Unfortunately, there ARE a lot of dishonest people out there, starting with HM Government:
Just bite the bullet, and wait until you're 25......time passes quicker than you think, and it's worth waiting for......who knows, you could be one of the first owners of the B111, or an STi version 11, Type UK?
Alcazar
Have to agree with you here, avoiding £6700 insurance looks like a good deal if you get caught, and end up fined £400 or so.
Unfortunately, there ARE a lot of dishonest people out there, starting with HM Government
:Just bite the bullet, and wait until you're 25......time passes quicker than you think, and it's worth waiting for......who knows, you could be one of the first owners of the B111, or an STi version 11, Type UK?
Alcazar
24 May 2003, 02:42 PM
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already blown 13k on my current car, of which it is worth maybe 5k on a good day. no plans to sell it, i realise cars are an expense.
20k = something like lotus esprit, e55 merc, etc. something nice and fast. mileage wont be high so not too worried. as for maintaince & repairs there is little i couldn't do myself. it would be a car i would keep for 5 years so i might as well get a good 'un. just need to try and get more competitive insurance quotes but i doubt i'll see the happy side of 3k
funny how i know lots of people paying 2k+ for ford fiestas and old astras, so 4k for something serious isn't that bad (relatively speaking). one of the joys of living in northern ireland
20k = something like lotus esprit, e55 merc, etc. something nice and fast. mileage wont be high so not too worried. as for maintaince & repairs there is little i couldn't do myself. it would be a car i would keep for 5 years so i might as well get a good 'un. just need to try and get more competitive insurance quotes but i doubt i'll see the happy side of 3k
funny how i know lots of people paying 2k+ for ford fiestas and old astras, so 4k for something serious isn't that bad (relatively speaking). one of the joys of living in northern ireland
24 May 2003, 04:52 PM
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you can afford the car if you have the cash to pay for it now, not rely on a loan. I would have thought at 22 yrs old, you would have better things to spend your money on.
24 May 2003, 04:58 PM
#14
you must be crazy to even consider spending 6k on insurance!
like someone else says, whats the rush? Im 27 soon and have a list as long as my arm on the cars Id love to own, I am gradually working my way through it, it went 106 rallye 1.3, 306 GTI 6, Honda Integra Type R, Impreza, next is a Boxster. Ive worked my way up but I wouldnt have missed the 106 for anything even if it was comparibly slow compared to say the scooby. They have all been new and valuable driving experiences, and its paid off! I now have a decent ncb, an MSA competition licence and consider myself to be pretty handy in a car. I dont think I would be as good if Id jumped into a supercar at 22.
AP
like someone else says, whats the rush? Im 27 soon and have a list as long as my arm on the cars Id love to own, I am gradually working my way through it, it went 106 rallye 1.3, 306 GTI 6, Honda Integra Type R, Impreza, next is a Boxster. Ive worked my way up but I wouldnt have missed the 106 for anything even if it was comparibly slow compared to say the scooby. They have all been new and valuable driving experiences, and its paid off! I now have a decent ncb, an MSA competition licence and consider myself to be pretty handy in a car. I dont think I would be as good if Id jumped into a supercar at 22.
AP
24 May 2003, 05:03 PM
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there's no way i'm spending 6k on insurance. though, a friend of the same age has a mistubshi GTO and he's paying over 6k. that thing flies!
i think 3k will be the most i'll spend - which sounds mad, but i'm paying 1700 at the moment on a 1.3 ford fiesta!!! friend just insured a 10 year old saab worth 2 grand for....2 grand (third party only!! nearly 4k for fully comp). insurance in NI is a joke.
i've driven some quick cars, like the ferrari 355 etc and i just *need* that mental acceleration
<<you can afford the car if you have the cash to pay for it now, not rely on a loan. >>
i thought most people took out finance on cars? i guess i think, why wait 5 years to save up if i can get it now...
<<I would have thought at 22 yrs old, you would have better things to spend your money on. >>
like what?
[Edited by midget1500 - 5/24/2003 5:09:18 PM]
i think 3k will be the most i'll spend - which sounds mad, but i'm paying 1700 at the moment on a 1.3 ford fiesta!!! friend just insured a 10 year old saab worth 2 grand for....2 grand (third party only!! nearly 4k for fully comp). insurance in NI is a joke.
i've driven some quick cars, like the ferrari 355 etc and i just *need* that mental acceleration
<<you can afford the car if you have the cash to pay for it now, not rely on a loan. >>
i thought most people took out finance on cars? i guess i think, why wait 5 years to save up if i can get it now...
<<I would have thought at 22 yrs old, you would have better things to spend your money on. >>
like what
?[Edited by midget1500 - 5/24/2003 5:09:18 PM]
24 May 2003, 06:41 PM
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something which doesn't lose money every minute of the day??
£20k is a lot of mney to spend on the one thing. Even though we had the cash sitting there to pay for our scooby, and we really wanted it, a part of me still thought that spending £23k on a car was a bit mad.
Personally I think you should be a bit more patient before crippling yourself in debt but its your life
£20k is a lot of mney to spend on the one thing. Even though we had the cash sitting there to pay for our scooby, and we really wanted it, a part of me still thought that spending £23k on a car was a bit mad.
Personally I think you should be a bit more patient before crippling yourself in debt but its your life
24 May 2003, 06:43 PM
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Expensive cars are overrated anyway.
You are forever worrying about it getting scratched.
You can't dump it outside the pub doorway and leave the keys in it.
You pay rip-off prices for insurance.
You lie in bed worrying about your hard earned cash melting away rapidly in depreciation.
Everyone wants to drive it. Including joyriders and thieves. Those that dont will take pleasure in running keys down the paintwork in little fits of envy.
Hence a 205GTi now sits in the space that a Bugeye used to occupy on the drive.
You are forever worrying about it getting scratched.
You can't dump it outside the pub doorway and leave the keys in it.
You pay rip-off prices for insurance.
You lie in bed worrying about your hard earned cash melting away rapidly in depreciation.
Everyone wants to drive it. Including joyriders and thieves. Those that dont will take pleasure in running keys down the paintwork in little fits of envy.
Hence a 205GTi now sits in the space that a Bugeye used to occupy on the drive.
24 May 2003, 07:34 PM
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You want to jump from a 1.3 Fiesta into a Lotus Esprit?!
Mate, you need a few cars inbetween a Fiesta and a Lotus! Do what the others day, build your way up. A GTi-R was suggested somewhere, I don't think they're group 20 though? Can be had for about 5k, decent acceleration and reasonable running costs.
Rich
Mate, you need a few cars inbetween a Fiesta and a Lotus! Do what the others day, build your way up. A GTi-R was suggested somewhere, I don't think they're group 20 though? Can be had for about 5k, decent acceleration and reasonable running costs.
Rich
24 May 2003, 07:36 PM
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i'd kill myself on a bike. the R1 is a ***WILD*** machine.
looks like i need to start paying stupid person tax again (the lottery - nicked from markus?
looks like i need to start paying stupid person tax again (the lottery - nicked from markus?
24 May 2003, 07:58 PM
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Just find something that will go round the corners and handles well. That will teach a lot about car control and be worthwhile. Even if it is underpowered it's not so important as it also makes you conserve energy.....no heavy use of brakes when you do not have the power.
24 May 2003, 11:04 PM
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rich & ariel - i have something underpowered (well, not that underpowered anymore!) that goes round corners like a bloody go-kart!!!
i need something more sensible with straight line ooooomph (not as a replacement but in addition).
as i mentioned before, it's not going from a 1.3 fiesta to supercar without experience of fast cars. i've done a lot of track days in my MG and driven beasts like the ferrari 355, single seaters, quick mercs & bmws, GTO, (lowly mx5/mgf) etc...
just worried that although now i can (albeit at a young age) afford the car i really want - lotus esprit (don't start with the reliability issues!), the insurance is gonna make it impossible
steven
edited to say - and the with MG being RWD running an LSD and weighing about as much as a paper bag not much else is as difficult/fun to drive in the wet
[Edited by midget1500 - 5/24/2003 11:59:14 PM]
i need something more sensible with straight line ooooomph (not as a replacement but in addition).
as i mentioned before, it's not going from a 1.3 fiesta to supercar without experience of fast cars. i've done a lot of track days in my MG and driven beasts like the ferrari 355, single seaters, quick mercs & bmws, GTO, (lowly mx5/mgf) etc...
just worried that although now i can (albeit at a young age) afford the car i really want - lotus esprit (don't start with the reliability issues!), the insurance is gonna make it impossible
steven
edited to say - and the with MG being RWD running an LSD and weighing about as much as a paper bag not much else is as difficult/fun to drive in the wet
[Edited by midget1500 - 5/24/2003 11:59:14 PM]
25 May 2003, 12:07 PM
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