Fabioso

A few years ago I was so worried about interest rates going up I decided to try and set aside as much money as poss per month to pay off the mortgage early. That was in 2007......fast forward to 2013 and interest rates don't seem to be going anywhere fast and in about a months time I will have a nice pot of money (just under 50k) to go towards the mortgage.

But it got me thinking....could I buy a "once in a lifetime ownership" car as a second car to run for a year and not lose too much in depreciation and running costs? Putting this into context the savings represent a lot of money to me and so I can't afford to chuck away thousands on a whim but on the other hand you only live once

The cars that spring to mind are V8 R8/GTR/911 but not sure about the depreciation/running costs on these for a 12 month all in stint. Thoughts?

dazzaturbo

Ariel atom.....

Brun

What about still paying of a shed load of your mortgage and join one of the supercar hire clubs?

dazzaturbo

If its low depreciation the atoms are pretty much depreciation free

Although a gtr is not really going to lose much but will cost more to run than the atom
Thought about an r34 gtr??

rossyboy

iTrader: (8)

F355. Zero depreciation and actually highly likely to appreciate.

Not a modern car, but you get to tick the box of owning a Ferrari and one of the best looking ones ever made. If I had £50k to invest right now, that's where it'd go.

BurtyBurg

iTrader: (2)

M3 CSL, 22b or a 996 gt3rs for me, they don't seem to have dropped in years!

Brun

CSL or 22B are great but are not once in a lifetime cars by any stretch!

BurtyBurg

iTrader: (2)

maybe not the 22b but the CSL is certainly up there with the 996 GT3RS pal, amazing cars out the box

Brun

Regardless of it's ability, it will never be a once in lifetime car. It's still a 3 series which ever way you cut it!

P1Fanatic

A CSL will probably not lose any value over a year but its a car you can only truly appreciate if you take on a track imho.

Didn't someone else on SN already do a similar years ownership with a yellow Gallardo or similar? Probably a good person to be speak to but I cant recall the username.

500

What about buying a car or 3 that will appreciate?

Recently cars that have shot up in value are : Integrale, E30 M3, Mercedes Cosworth, Sierra Cosworth. I'm sure that there are many more!

There was an article in Evo a couple of months ago about this.

FWIW, Nick Mason paid 37k for his Ferrari 250 in the late 70's and it's now worth a few million!

dazzaturbo

Rs500 cossie

500

I'd still class that as a Sierra Cosworth

Brun

Great cars but not once in a lifetime cars.
Once in a lifetime cars: Ferrari, Aston, Lambo etc!

Fabioso

Thanks for the replies guys! Given me a lot of food for thought!!

I think I gotta work out what I want....from your suggestions there are many cars out there that will give me lowish depreciation but as Brun has pointed out as nice as they are perhaps they are not quite a "once in a lifetime" kinda car.

Unfortunately the Ariel Atom is out cos to get to my house I have to negotiate speed humps and I am pretty sure the atom wouldn't go over them....

The reason I was looking at the level just below supercars is because supercars feel a bit out of my league to get a good one on the budget I have.

Low mileage Skyline R34 would be a great choice but I would be concerned about owning a car 13+ years old (same goes for the 22B).

Paralysis by Analysis it would seem

May be I should just carry on saving until I can get a newish (<10 yrs) low mileage Lambo/Fezza?

What about 996 GT2/3? Do they hold their value?

ditchmyster

iTrader: (7)

911 3.2 RS, own it for 3yrs and make a few quid too. probably do better than paying the mortgage off too, wish i'd have got something like this a few years back when I had some serious wedge, mind you I can't grumble i'm doing quite well with houses, only problem I can't drive a house.

zip106

You won't get a good, straight 996 GT3 RS for £50k.
£60-£70k perhaps.

My money would go on something like this -
http://www.pistonheads.com/classifie...l-1995/1345317


996 GT2 are pretty steady value wise, but as an acquired taste their values could go either way.
A very niche market to be honest, and they hang about for sale.

The 6 GT3 will eventually appreciate, but I think we're a few years off them showing any decent returns.

Brun

I don't think an Atom would have any issues with speed bumps myself!

ditchmyster

iTrader: (7)

Or this.http://www4.autotrader.co.uk/classif...ge/2?logcode=p

zip106

Too cheap - I believe this one has a bit of history.

Found it.
Not pretty....

http://www.pistonheads.com/gassing/t...4904&mid=78229

This is the problem - very, very few available without history.
As I said, £60- 70k at least for a straight one.

Shaid

Hey OP.

I'm probably going to be the elephant in the room here but considering it has taken you a lot of hard work to save the money do you really want to plough it into a lump of metal that costs money to keep on the road, servicing, insurance, not to mention a different kind of target for car criminals.

Maybe spend a couple of £k hiring a few super cars for Lin weekends. All the fun of driving them and non of the headache of associated with being an owner.

Plus that way most if your money is safe :-)

zip106

Shaid - stop being so bloody sensible!

ditchmyster

iTrader: (7)

Ouch crashed twice. looks like a good un at the ring, love the line on ph.

"Apparently enthusiasm overtook talent at the Karussell"

zip106

Due diligence is very much required when buying one of these!

ditchmyster

iTrader: (7)

Where's the fun in that, no polishing, no swaggering about and dropping the keys on the bar in the pub, no envious glares from blokes, and worse of all no admiring glances off the ladies.

Plus that's a few grand down the bog, this way if he chooses carefully he could make a few quid, whilst having the JOY of ownership.

Fabioso

The sort of scenario Zip has highlighted is exactly the kind of thing I am trying to avoid.......Shaid I want to hear all views and what you are saying is exactly what the "sensible voice" in my head is telling me.

Quite like the NSX but would want to try and get hold of a 3.2V6 Popup and fear the prices have already risen in recent years.......and so I have somewhat missed the boat on that one!

At this point in time no choice seems like the best option and carry on saving.....or do what Shaid suggests and be sensible

Either way thanks all for giving me the reality of the situation as opposed to me dreaming in my head about possibilities that aren't as great as they would first appear.....

ditchmyster

iTrader: (7)

Forget sensible, it's a chance in a life time thing, you'll lie on your death bed with money in the bank and wish you'd just gone for it.

Fabioso

Ditch.........it's good to hear both sides of the argument cos believe me both have been spinning round my head for the past few weeks.......

.......but True

you guys are meant to be making it easier for me to decide.....not worse

ditchmyster

iTrader: (7)

Something like my first suggestion is pretty much cast iron investment, and you can enjoy it too, nothings going to happen with interest rates for a little while as the new governor of the bank of england wants to keep inflation under control so that we don't end up like japan.

There is also the fact that you don't have to spend it all, a quick scout of auto trader and there are a few porkas for 20/30k that will hold their money too.

Life is too short not to follow your heart once and a while.

Matteeboy

Think I'd go for an Aston V8 Vantage or possibly a very tidy 997 Turbo S.