Author Topic: The Car Thread  (Read 286950 times)

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Offline HTT

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Re: The Car Thread
« Reply #6425 on: Monday 18 May 2020, 03:56:38 PM »
Ah cheers mate, it's a 2017. Done all the checks and fine. Had one owner who personalised the reg, tbf it looks like a Shotters motor but decent dealer. I just love it and test drive tomorrow. Let you know how I get on but thanks for the advice.

Good luck with the test drive :thup:

Some w***** from Cumbria paid a deposit over the phone for it. Gutted. Everything was perfect for what I wanted and others I've been looking at pale in comparison. Set my heart on it like a div 😢

Gutted for you mate as it happened to me once, lesson here is to put down a small refundable deposit to secure the car for viewing/test driving. Can’t blame the dealer accepting another offer, they should have given you the option to do so, however, yourself, from the start and after they had reviewed another offer. Just keep looking, I’m sure one will come up soon that’s right for you :thup:
Wee Hughie - the greatest centre-forward Newcastle United ever had

Offline HTT

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Re: The Car Thread
« Reply #6426 on: Monday 18 May 2020, 04:00:00 PM »
Finally got myself in a position to get my dream car; 2005 Subaru WRX STI. (Hawkeye style).



It's a Japanese import so has the stronger 2.0 litre engine vs the UK 2.5 and it's had some work done, culminating at 340bhp.

I'm using it as my "fun/weekend" car and it's everything I could have wanted and more.

Only thing is that it still has the original head unit, so everything is in Japanese :lol:

Not my cup of tea, but kudos for going after and getting your dream car, hope it lives up to your expectations and dreams. Looks lovely the colour btw :thup:
Wee Hughie - the greatest centre-forward Newcastle United ever had

Offline TheHoob

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Re: The Car Thread
« Reply #6427 on: Monday 18 May 2020, 04:07:22 PM »
Not sure on this leasing thing.  Essentially you've just rented a car for 2 years or so, paid £5.5k and got nothing to show for it at the end.

If I bought a car for £42k cash how much do you think it would have depreciated by in that time?

A hell of a lot more than the lease cost is the answer. 

Why would you buy a car for £42k cash if you can't afford it?

I paid 52k cash for mine, negotiated down from 60k (about £6k) and I'll be able to sell it for at least 40k in five years or so when I'm done with it.

Get a decent second hand one and sell it off when you're ready to upgrade.

What do you have out of interest? Typical depreciation after 5 years would be at least 50% I'd think so leasing would make more sense in that context.

Online loki679

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Re: The Car Thread
« Reply #6428 on: Monday 18 May 2020, 04:34:44 PM »
Not sure on this leasing thing.  Essentially you've just rented a car for 2 years or so, paid £5.5k and got nothing to show for it at the end.

If I bought a car for £42k cash how much do you think it would have depreciated by in that time?

A hell of a lot more than the lease cost is the answer. 

Why would you buy a car for £42k cash if you can't afford it?

I paid 52k cash for mine, negotiated down from 60k (about £6k) and I'll be able to sell it for at least 40k in five years or so when I'm done with it.

Get a decent second hand one and sell it off when you're ready to upgrade.

What do you have out of interest? Typical depreciation after 5 years would be at least 50% I'd think so leasing would make more sense in that context.

It's a Honda City.  3 years old when I bought it, 9 year old cars of the same type are going for that price.

Not flashy or cool, admittedly, but it gets us from A to B, has enough space for everything and a decent boot and I don't owe anyone a penny for it.
Comfy chairs, beer, and doom. Humanity's future is an early 90s LAN party.

Offline HTT

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Re: The Car Thread
« Reply #6429 on: Monday 18 May 2020, 04:51:54 PM »
You paid 52k cash for a Honda? Please tell me you paid in Yen?
Wee Hughie - the greatest centre-forward Newcastle United ever had

Online loki679

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Re: The Car Thread
« Reply #6430 on: Monday 18 May 2020, 04:56:17 PM »
Chinese Yuan brother.
Comfy chairs, beer, and doom. Humanity's future is an early 90s LAN party.

Offline HTT

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Re: The Car Thread
« Reply #6431 on: Monday 18 May 2020, 05:13:44 PM »
:lol:

52k would get you a concourse Honda NSX
Wee Hughie - the greatest centre-forward Newcastle United ever had

Online loki679

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Re: The Car Thread
« Reply #6432 on: Monday 18 May 2020, 05:25:52 PM »
Can I get my kids in the back of one of them?
Comfy chairs, beer, and doom. Humanity's future is an early 90s LAN party.

Offline Tyne81

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Re: The Car Thread
« Reply #6433 on: Monday 18 May 2020, 05:29:36 PM »
Ah cheers mate, it's a 2017. Done all the checks and fine. Had one owner who personalised the reg, tbf it looks like a Shotters motor but decent dealer. I just love it and test drive tomorrow. Let you know how I get on but thanks for the advice.

Good luck with the test drive :thup:

Some w***** from Cumbria paid a deposit over the phone for it. Gutted. Everything was perfect for what I wanted and others I've been looking at pale in comparison. Set my heart on it like a div 😢

Gutted for you mate as it happened to me once, lesson here is to put down a small refundable deposit to secure the car for viewing/test driving. Can’t blame the dealer accepting another offer, they should have given you the option to do so, however, yourself, from the start and after they had reviewed another offer. Just keep looking, I’m sure one will come up soon that’s right for you :thup:

Only seen it on Sunday night, rang them first thing this morning only to find that out. They have had the car for a while and out the blue that bloke just beat me to it. Can't see anything online that ticks the box now. Frustrating.

Offline HTT

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Re: The Car Thread
« Reply #6434 on: Monday 18 May 2020, 05:34:17 PM »
Can I get my kids in the back of one of them?

Would you want to?! :D

Make them walk.

My sis once owned a Honda CR-V, 05 plate, she reckons it’s the best family car she’s ever owned. Mind she doesn’t have a clue about cars.

Love these in terms of looks mind:

https://www.carandclassic.co.uk/car/C1227195
« Last Edit: Monday 18 May 2020, 05:49:05 PM by HTT »
Wee Hughie - the greatest centre-forward Newcastle United ever had

Offline HTT

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Re: The Car Thread
« Reply #6435 on: Monday 18 May 2020, 05:48:41 PM »
Ah cheers mate, it's a 2017. Done all the checks and fine. Had one owner who personalised the reg, tbf it looks like a Shotters motor but decent dealer. I just love it and test drive tomorrow. Let you know how I get on but thanks for the advice.

Good luck with the test drive :thup:

Some w***** from Cumbria paid a deposit over the phone for it. Gutted. Everything was perfect for what I wanted and others I've been looking at pale in comparison. Set my heart on it like a div 😢

Gutted for you mate as it happened to me once, lesson here is to put down a small refundable deposit to secure the car for viewing/test driving. Can’t blame the dealer accepting another offer, they should have given you the option to do so, however, yourself, from the start and after they had reviewed another offer. Just keep looking, I’m sure one will come up soon that’s right for you :thup:

Only seen it on Sunday night, rang them first thing this morning only to find that out. They have had the car for a while and out the blue that bloke just beat me to it. Can't see anything online that ticks the box now. Frustrating.

Get yourself on a BMW M owners forum, I’m on an AMG one, some of the best AMG examples around often end up for sale there/other marques can be found on owner forums, better prices than at the dealer too and far more peace of mind knowing your potential car belonged to an enthusiast and whose car is known in that kind of community.

If you’re paying for your car via finance, there are many independent high performance car finance companies our there that offer good deals and rates in line with the likes of MotoNovo or Close Brothers and way better than any bank offering personal loans to purchase a car.

A classic car I was tempted to once buy a few years back from a private seller I simply couldn’t afford the cash to pay for it, I ended up finding a finance company who would have loaned me the money at a better rate than any of the big name finance companies mentioned above, but I chickened out of it.

One in particular offered a one stop shop type package including finance, insurance, breakdown and servicing.

Look through BMW used and approved stock too, if like MB, they should offer a decent proper warranty, in house finance packages and service packages too.

I got a decent package with my AMG from Mercedes, it was worth paying a dealer premium over private for that, their service and the car which was showroom conditions despite being used, a low mileage, one owner, fully loaded example only a few years old. That depreciation hit the first owner took though man, ouch!

Almost 3 years on, I’m itching to replace it and nearly did for an S63 before lockdown. I need to be more sensible and think about the long-term family needs now though and thanks to the current world climate, in future we plan to be more out doors, camping, walking, bike rides etc, euro road trips etc. so I fancy a Mercedes Viano 7/9 seater thing which I believe in the next few years will come with 4-matic making it a luxurious limo van on wheels with all wheel drive and a huge area at the rear for carrying bikes and stuff.

That and I want to get into coaching for my boy and need to be able to carry training equipment.

I’m not one for a Range Rover or some SUV, I’d rather have a van which is what I drive for a living every day anyway.

In truth, I’d rather have a f***ing Ferrari, Porsche, AMG M BMW or something high performance, but sometimes you have to be sensible I suppose... :(
Wee Hughie - the greatest centre-forward Newcastle United ever had

Offline HTT

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Re: The Car Thread
« Reply #6436 on: Monday 18 May 2020, 06:34:36 PM »
Regarding finance, PCP, leasing or buying a car outright for cash, they are all money pits, but a car isn’t some safe investment or placeholder for your money. It’s all about buying/paying out what you can afford or what you can’t afford. Some can afford to buy for cash and take the hit, some can afford a bigger deposit for lower repayments, some can afford bigger repayments for a lower deposit or afford to put down a big deposit and be happy for having a car for 2 years where they hand it back.


The vast majority buy cars based on such a scale of affordability vs use/need based on finances.

My current car, it’s previous owner paid over 90k for it and 3 years later I paid 40k, that was some huge hit he took. Nearly 3 years later under my ownership its been valued between 23-28k and truthfully, in a private sale, I’d get 25k. A 15k hit.

I part financed mine with cash which I could take the hit in future and could afford. But only because I do know that come the end of my finance agreement, I’ll be sitting on a car that I can cash in for 20k at least and get whatever cash I put in back and some extra change. If I keep it for another 3 years, I’ll get just my money back in terms of the cash I put in. If I keep it for 15 years, I could get all of that back and the interest I’ve paid in payments and some extra change. Keep it for 30 years and I could be quids in up on my purchase.

I couldn’t or rather didn’t want to pay big monthly payments, couldn’t afford 40k cash (nor would I have paid that if I could) so I worked out I’d get my cash back after 4 years easily, maybe some extra and that will allow me to buy a similar priced/type of vehicle again and if I have some more extra cash to throw in, something bigger and better maybe.

That’s how I buy my AMG E63.

Classic cars/runarounds I pay cash because I can afford to and although I’ll not get that back, unless I buy a car that will somehow increase in value the older it becomes of course, I reason paying 2k cash for a car over paying for it on finance will end up saving me 1k in interest which I could use and will need to maintain the f***er.

With the family/wife’s car, if we are buying new which we did for the first time ever back in 2016, every major detail comes into play, cost, depreciation, value, payments, part ex, deposits, future value, all finance deals and options. But it goes back to affordability vs use and that’s the scale I work on ultimately.

Nissan X-Trail 7 seater, 32k, new from factory, 1.5k PX, VAT back, friends and family deal, 3 years, servicing included. Less than 300 a month. We now own it outright and it’s worth about 12/15k. That’s why we bought it and not a similar priced, but used Range Rover. Because financially, it was too good to be true in many ways, thanks to VAT and friends and family discount. I think I worked it out, excluding interest, the car cost us 12k. It’s worth that now if not a bit more.

She will keep it for maybe 2-3 more years and we’ll get 7k PX for it. If we PX to Nissan and get VAT back and family and friends discount again, we get a 32k new car for 200 a month or something which in 3 years we’d own outright. I’m tempted, but right now we are a few hundred a month better off having paid it all off.

I’d personally never buy a new car for cash even if I could afford it, I’d never PCP a car, and I’d never put more cash in as a deposit/part payment than what I’d get back once finance has been paid in full and I own the car outright for a costly car.
Wee Hughie - the greatest centre-forward Newcastle United ever had

Offline Tyne81

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Re: The Car Thread
« Reply #6437 on: Monday 18 May 2020, 08:05:28 PM »
Ah cheers mate, it's a 2017. Done all the checks and fine. Had one owner who personalised the reg, tbf it looks like a Shotters motor but decent dealer. I just love it and test drive tomorrow. Let you know how I get on but thanks for the advice.

Good luck with the test drive :thup:

Some w***** from Cumbria paid a deposit over the phone for it. Gutted. Everything was perfect for what I wanted and others I've been looking at pale in comparison. Set my heart on it like a div 😢

Gutted for you mate as it happened to me once, lesson here is to put down a small refundable deposit to secure the car for viewing/test driving. Can’t blame the dealer accepting another offer, they should have given you the option to do so, however, yourself, from the start and after they had reviewed another offer. Just keep looking, I’m sure one will come up soon that’s right for you :thup:

Only seen it on Sunday night, rang them first thing this morning only to find that out. They have had the car for a while and out the blue that bloke just beat me to it. Can't see anything online that ticks the box now. Frustrating.

Get yourself on a BMW M owners forum, I’m on an AMG one, some of the best AMG examples around often end up for sale there/other marques can be found on owner forums, better prices than at the dealer too and far more peace of mind knowing your potential car belonged to an enthusiast and whose car is known in that kind of community.

If you’re paying for your car via finance, there are many independent high performance car finance companies our there that offer good deals and rates in line with the likes of MotoNovo or Close Brothers and way better than any bank offering personal loans to purchase a car.

A classic car I was tempted to once buy a few years back from a private seller I simply couldn’t afford the cash to pay for it, I ended up finding a finance company who would have loaned me the money at a better rate than any of the big name finance companies mentioned above, but I chickened out of it.

One in particular offered a one stop shop type package including finance, insurance, breakdown and servicing.

Look through BMW used and approved stock too, if like MB, they should offer a decent proper warranty, in house finance packages and service packages too.

I got a decent package with my AMG from Mercedes, it was worth paying a dealer premium over private for that, their service and the car which was showroom conditions despite being used, a low mileage, one owner, fully loaded example only a few years old. That depreciation hit the first owner took though man, ouch!

Almost 3 years on, I’m itching to replace it and nearly did for an S63 before lockdown. I need to be more sensible and think about the long-term family needs now though and thanks to the current world climate, in future we plan to be more out doors, camping, walking, bike rides etc, euro road trips etc. so I fancy a Mercedes Viano 7/9 seater thing which I believe in the next few years will come with 4-matic making it a luxurious limo van on wheels with all wheel drive and a huge area at the rear for carrying bikes and stuff.

That and I want to get into coaching for my boy and need to be able to carry training equipment.

I’m not one for a Range Rover or some SUV, I’d rather have a van which is what I drive for a living every day anyway.

In truth, I’d rather have a f***ing Ferrari, Porsche, AMG M BMW or something high performance, but sometimes you have to be sensible I suppose... :(

Cheers again mate. Regarding finance I run a company so eligible for the 25% of income interest free 12 month loan. 2.5% for the following 5 years, ideal time to jump on board as was looking for a new motor from next year anyway. Had my current car the longest I've ever had one, been a solid workhorse for babies etc but they are now at an older age so can get a nice car again.

I'll check out those forums as there isn't much about through the usual channels.

Offline HTT

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Re: The Car Thread
« Reply #6438 on: Monday 18 May 2020, 08:47:07 PM »
Ah cheers mate, it's a 2017. Done all the checks and fine. Had one owner who personalised the reg, tbf it looks like a Shotters motor but decent dealer. I just love it and test drive tomorrow. Let you know how I get on but thanks for the advice.

Good luck with the test drive :thup:

Some w***** from Cumbria paid a deposit over the phone for it. Gutted. Everything was perfect for what I wanted and others I've been looking at pale in comparison. Set my heart on it like a div 😢

Gutted for you mate as it happened to me once, lesson here is to put down a small refundable deposit to secure the car for viewing/test driving. Can’t blame the dealer accepting another offer, they should have given you the option to do so, however, yourself, from the start and after they had reviewed another offer. Just keep looking, I’m sure one will come up soon that’s right for you :thup:

Only seen it on Sunday night, rang them first thing this morning only to find that out. They have had the car for a while and out the blue that bloke just beat me to it. Can't see anything online that ticks the box now. Frustrating.

Get yourself on a BMW M owners forum, I’m on an AMG one, some of the best AMG examples around often end up for sale there/other marques can be found on owner forums, better prices than at the dealer too and far more peace of mind knowing your potential car belonged to an enthusiast and whose car is known in that kind of community.

If you’re paying for your car via finance, there are many independent high performance car finance companies our there that offer good deals and rates in line with the likes of MotoNovo or Close Brothers and way better than any bank offering personal loans to purchase a car.

A classic car I was tempted to once buy a few years back from a private seller I simply couldn’t afford the cash to pay for it, I ended up finding a finance company who would have loaned me the money at a better rate than any of the big name finance companies mentioned above, but I chickened out of it.

One in particular offered a one stop shop type package including finance, insurance, breakdown and servicing.

Look through BMW used and approved stock too, if like MB, they should offer a decent proper warranty, in house finance packages and service packages too.

I got a decent package with my AMG from Mercedes, it was worth paying a dealer premium over private for that, their service and the car which was showroom conditions despite being used, a low mileage, one owner, fully loaded example only a few years old. That depreciation hit the first owner took though man, ouch!

Almost 3 years on, I’m itching to replace it and nearly did for an S63 before lockdown. I need to be more sensible and think about the long-term family needs now though and thanks to the current world climate, in future we plan to be more out doors, camping, walking, bike rides etc, euro road trips etc. so I fancy a Mercedes Viano 7/9 seater thing which I believe in the next few years will come with 4-matic making it a luxurious limo van on wheels with all wheel drive and a huge area at the rear for carrying bikes and stuff.

That and I want to get into coaching for my boy and need to be able to carry training equipment.

I’m not one for a Range Rover or some SUV, I’d rather have a van which is what I drive for a living every day anyway.

In truth, I’d rather have a f***ing Ferrari, Porsche, AMG M BMW or something high performance, but sometimes you have to be sensible I suppose... :(

Cheers again mate. Regarding finance I run a company so eligible for the 25% of income interest free 12 month loan. 2.5% for the following 5 years, ideal time to jump on board as was looking for a new motor from next year anyway. Had my current car the longest I've ever had one, been a solid workhorse for babies etc but they are now at an older age so can get a nice car again.

I'll check out those forums as there isn't much about through the usual channels.

Not to be a t***, but is that the wisest way to utilise the bounce back money, on a car?

Hey if you’ve paid your taxes and contributed towards the system like a good lad, you’ve probably paid more than enough in to take a little back out, I just worry many will take advantage of and use the money to spend on themselves rather than use it for proper business purposes in order to bounce back if hit by this...

We, as a test really, applied for the bounce bank money and to our astonishment, following a simple online 10 minute form filling type exercise, we were told to expect the money to be paid into our account within 24 hours, and a day later, there it was.

We don’t need the money as such to keep going, and we are in two minds what to do with it, we may even just send it back if we can, but that 50k could pay off a few outstanding finance and therefore improve our monthly cash flow and for 12 months at least means less money going out and more of the money coming in, actually staying in. That and we save massively on interest on finance payments, add actual assets to the business because we would now own them and at 2.5% over 6 years, it’s a great deal and kudos to all those who make it work.

Ultimately though we all pay for that money the most personally, me, you, everyone of us and it will have to show up in the nation’s accounts eventually and while it may ease my cash flow, it won’t ease the nation’s cash flow and given how our government run business, some poor c*** be it a school or some other publicly funded operation will be taxed the most/funded less in order to cover it.

And I guarantee it will affect my own business too, my own income, in the future and only make some others rich and better off in parliament or a businessman with an offshore account.

As long as you pay it back and if you employ people, run a business and make it work for yourself, your staff and in taxation contributing to the coffers though, here, good luck to you man :thup:

I wouldn’t be using it to buy a car though even at 2.5% :lol: Buy 50k of gold, buy a flat to rent out or something.

As a business, we’ve said if we do use it to pay off some finance, we will still pay those outgoings into another account if we can so in 12 months time, we can be in a position to pay the 50k back in full and save on 5 years of interest at 2.5% and use this simply to eventually ensure that after all this, every penny that comes in 12 months from now, stays in and after costs, we have enough to ride out anything without ever again needing a bounce back loan or to finance this or that and most of all guarantee we can pay our staff which we have thankfully been able to do and can do for several more months even without any work on, bounce back loan or not.

An M3 though... what a car. Sometimes in life money can’t buy you these things. My car, money doesn’t come in to it, rich or poor, I’d still want to buy an AMG and hopefully always will. The day that isn’t the case, I’d rather honestly walk everywhere and give up driving or even communing unless essential.
« Last Edit: Monday 18 May 2020, 09:02:47 PM by HTT »
Wee Hughie - the greatest centre-forward Newcastle United ever had

Offline Tyne81

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Re: The Car Thread
« Reply #6439 on: Monday 18 May 2020, 10:25:39 PM »
Ah cheers mate, it's a 2017. Done all the checks and fine. Had one owner who personalised the reg, tbf it looks like a Shotters motor but decent dealer. I just love it and test drive tomorrow. Let you know how I get on but thanks for the advice.

Good luck with the test drive :thup:

Some w***** from Cumbria paid a deposit over the phone for it. Gutted. Everything was perfect for what I wanted and others I've been looking at pale in comparison. Set my heart on it like a div 😢

Gutted for you mate as it happened to me once, lesson here is to put down a small refundable deposit to secure the car for viewing/test driving. Can’t blame the dealer accepting another offer, they should have given you the option to do so, however, yourself, from the start and after they had reviewed another offer. Just keep looking, I’m sure one will come up soon that’s right for you :thup:

Only seen it on Sunday night, rang them first thing this morning only to find that out. They have had the car for a while and out the blue that bloke just beat me to it. Can't see anything online that ticks the box now. Frustrating.

Get yourself on a BMW M owners forum, I’m on an AMG one, some of the best AMG examples around often end up for sale there/other marques can be found on owner forums, better prices than at the dealer too and far more peace of mind knowing your potential car belonged to an enthusiast and whose car is known in that kind of community.

If you’re paying for your car via finance, there are many independent high performance car finance companies our there that offer good deals and rates in line with the likes of MotoNovo or Close Brothers and way better than any bank offering personal loans to purchase a car.

A classic car I was tempted to once buy a few years back from a private seller I simply couldn’t afford the cash to pay for it, I ended up finding a finance company who would have loaned me the money at a better rate than any of the big name finance companies mentioned above, but I chickened out of it.

One in particular offered a one stop shop type package including finance, insurance, breakdown and servicing.

Look through BMW used and approved stock too, if like MB, they should offer a decent proper warranty, in house finance packages and service packages too.

I got a decent package with my AMG from Mercedes, it was worth paying a dealer premium over private for that, their service and the car which was showroom conditions despite being used, a low mileage, one owner, fully loaded example only a few years old. That depreciation hit the first owner took though man, ouch!

Almost 3 years on, I’m itching to replace it and nearly did for an S63 before lockdown. I need to be more sensible and think about the long-term family needs now though and thanks to the current world climate, in future we plan to be more out doors, camping, walking, bike rides etc, euro road trips etc. so I fancy a Mercedes Viano 7/9 seater thing which I believe in the next few years will come with 4-matic making it a luxurious limo van on wheels with all wheel drive and a huge area at the rear for carrying bikes and stuff.

That and I want to get into coaching for my boy and need to be able to carry training equipment.

I’m not one for a Range Rover or some SUV, I’d rather have a van which is what I drive for a living every day anyway.

In truth, I’d rather have a f***ing Ferrari, Porsche, AMG M BMW or something high performance, but sometimes you have to be sensible I suppose... :(

Cheers again mate. Regarding finance I run a company so eligible for the 25% of income interest free 12 month loan. 2.5% for the following 5 years, ideal time to jump on board as was looking for a new motor from next year anyway. Had my current car the longest I've ever had one, been a solid workhorse for babies etc but they are now at an older age so can get a nice car again.

I'll check out those forums as there isn't much about through the usual channels.

Not to be a t***, but is that the wisest way to utilise the bounce back money, on a car?

Hey if you’ve paid your taxes and contributed towards the system like a good lad, you’ve probably paid more than enough in to take a little back out, I just worry many will take advantage of and use the money to spend on themselves rather than use it for proper business purposes in order to bounce back if hit by this...

We, as a test really, applied for the bounce bank money and to our astonishment, following a simple online 10 minute form filling type exercise, we were told to expect the money to be paid into our account within 24 hours, and a day later, there it was.

We don’t need the money as such to keep going, and we are in two minds what to do with it, we may even just send it back if we can, but that 50k could pay off a few outstanding finance and therefore improve our monthly cash flow and for 12 months at least means less money going out and more of the money coming in, actually staying in. That and we save massively on interest on finance payments, add actual assets to the business because we would now own them and at 2.5% over 6 years, it’s a great deal and kudos to all those who make it work.

Ultimately though we all pay for that money the most personally, me, you, everyone of us and it will have to show up in the nation’s accounts eventually and while it may ease my cash flow, it won’t ease the nation’s cash flow and given how our government run business, some poor c*** be it a school or some other publicly funded operation will be taxed the most/funded less in order to cover it.

And I guarantee it will affect my own business too, my own income, in the future and only make some others rich and better off in parliament or a businessman with an offshore account.

As long as you pay it back and if you employ people, run a business and make it work for yourself, your staff and in taxation contributing to the coffers though, here, good luck to you man :thup:

I wouldn’t be using it to buy a car though even at 2.5% :lol: Buy 50k of gold, buy a flat to rent out or something.

As a business, we’ve said if we do use it to pay off some finance, we will still pay those outgoings into another account if we can so in 12 months time, we can be in a position to pay the 50k back in full and save on 5 years of interest at 2.5% and use this simply to eventually ensure that after all this, every penny that comes in 12 months from now, stays in and after costs, we have enough to ride out anything without ever again needing a bounce back loan or to finance this or that and most of all guarantee we can pay our staff which we have thankfully been able to do and can do for several more months even without any work on, bounce back loan or not.

An M3 though... what a car. Sometimes in life money can’t buy you these things. My car, money doesn’t come in to it, rich or poor, I’d still want to buy an AMG and hopefully always will. The day that isn’t the case, I’d rather honestly walk everywhere and give up driving or even communing unless essential.

My business is operating as usual, I'm an accountant specialising in contract workers. The vast majority are in critical construction or key workers in oil and gas. They work, I get paid. After the last financial collapse in 2008, contracting rocketed and expect the same from this. Pretty secure as you can be so using the money on something I would have paid alot of interest on next year. Alot of contractors operating limited companies are getting crazy loans much higher than the legislation has stated, there is no checks going on which is mental. They are using it for down payments on second homes and such. Alot of people can make a killing from all this but alot are going to f*** themselves over big style.

Offline HTT

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Re: The Car Thread
« Reply #6440 on: Friday 22 May 2020, 08:49:50 PM »
Ah cheers mate, it's a 2017. Done all the checks and fine. Had one owner who personalised the reg, tbf it looks like a Shotters motor but decent dealer. I just love it and test drive tomorrow. Let you know how I get on but thanks for the advice.

Good luck with the test drive :thup:

Some w***** from Cumbria paid a deposit over the phone for it. Gutted. Everything was perfect for what I wanted and others I've been looking at pale in comparison. Set my heart on it like a div 😢

Gutted for you mate as it happened to me once, lesson here is to put down a small refundable deposit to secure the car for viewing/test driving. Can’t blame the dealer accepting another offer, they should have given you the option to do so, however, yourself, from the start and after they had reviewed another offer. Just keep looking, I’m sure one will come up soon that’s right for you :thup:

Only seen it on Sunday night, rang them first thing this morning only to find that out. They have had the car for a while and out the blue that bloke just beat me to it. Can't see anything online that ticks the box now. Frustrating.

Get yourself on a BMW M owners forum, I’m on an AMG one, some of the best AMG examples around often end up for sale there/other marques can be found on owner forums, better prices than at the dealer too and far more peace of mind knowing your potential car belonged to an enthusiast and whose car is known in that kind of community.

If you’re paying for your car via finance, there are many independent high performance car finance companies our there that offer good deals and rates in line with the likes of MotoNovo or Close Brothers and way better than any bank offering personal loans to purchase a car.

A classic car I was tempted to once buy a few years back from a private seller I simply couldn’t afford the cash to pay for it, I ended up finding a finance company who would have loaned me the money at a better rate than any of the big name finance companies mentioned above, but I chickened out of it.

One in particular offered a one stop shop type package including finance, insurance, breakdown and servicing.

Look through BMW used and approved stock too, if like MB, they should offer a decent proper warranty, in house finance packages and service packages too.

I got a decent package with my AMG from Mercedes, it was worth paying a dealer premium over private for that, their service and the car which was showroom conditions despite being used, a low mileage, one owner, fully loaded example only a few years old. That depreciation hit the first owner took though man, ouch!

Almost 3 years on, I’m itching to replace it and nearly did for an S63 before lockdown. I need to be more sensible and think about the long-term family needs now though and thanks to the current world climate, in future we plan to be more out doors, camping, walking, bike rides etc, euro road trips etc. so I fancy a Mercedes Viano 7/9 seater thing which I believe in the next few years will come with 4-matic making it a luxurious limo van on wheels with all wheel drive and a huge area at the rear for carrying bikes and stuff.

That and I want to get into coaching for my boy and need to be able to carry training equipment.

I’m not one for a Range Rover or some SUV, I’d rather have a van which is what I drive for a living every day anyway.

In truth, I’d rather have a f***ing Ferrari, Porsche, AMG M BMW or something high performance, but sometimes you have to be sensible I suppose... :(

Cheers again mate. Regarding finance I run a company so eligible for the 25% of income interest free 12 month loan. 2.5% for the following 5 years, ideal time to jump on board as was looking for a new motor from next year anyway. Had my current car the longest I've ever had one, been a solid workhorse for babies etc but they are now at an older age so can get a nice car again.

I'll check out those forums as there isn't much about through the usual channels.

Not to be a t***, but is that the wisest way to utilise the bounce back money, on a car?

Hey if you’ve paid your taxes and contributed towards the system like a good lad, you’ve probably paid more than enough in to take a little back out, I just worry many will take advantage of and use the money to spend on themselves rather than use it for proper business purposes in order to bounce back if hit by this...

We, as a test really, applied for the bounce bank money and to our astonishment, following a simple online 10 minute form filling type exercise, we were told to expect the money to be paid into our account within 24 hours, and a day later, there it was.

We don’t need the money as such to keep going, and we are in two minds what to do with it, we may even just send it back if we can, but that 50k could pay off a few outstanding finance and therefore improve our monthly cash flow and for 12 months at least means less money going out and more of the money coming in, actually staying in. That and we save massively on interest on finance payments, add actual assets to the business because we would now own them and at 2.5% over 6 years, it’s a great deal and kudos to all those who make it work.

Ultimately though we all pay for that money the most personally, me, you, everyone of us and it will have to show up in the nation’s accounts eventually and while it may ease my cash flow, it won’t ease the nation’s cash flow and given how our government run business, some poor c*** be it a school or some other publicly funded operation will be taxed the most/funded less in order to cover it.

And I guarantee it will affect my own business too, my own income, in the future and only make some others rich and better off in parliament or a businessman with an offshore account.

As long as you pay it back and if you employ people, run a business and make it work for yourself, your staff and in taxation contributing to the coffers though, here, good luck to you man :thup:

I wouldn’t be using it to buy a car though even at 2.5% :lol: Buy 50k of gold, buy a flat to rent out or something.

As a business, we’ve said if we do use it to pay off some finance, we will still pay those outgoings into another account if we can so in 12 months time, we can be in a position to pay the 50k back in full and save on 5 years of interest at 2.5% and use this simply to eventually ensure that after all this, every penny that comes in 12 months from now, stays in and after costs, we have enough to ride out anything without ever again needing a bounce back loan or to finance this or that and most of all guarantee we can pay our staff which we have thankfully been able to do and can do for several more months even without any work on, bounce back loan or not.

An M3 though... what a car. Sometimes in life money can’t buy you these things. My car, money doesn’t come in to it, rich or poor, I’d still want to buy an AMG and hopefully always will. The day that isn’t the case, I’d rather honestly walk everywhere and give up driving or even communing unless essential.

My business is operating as usual, I'm an accountant specialising in contract workers. The vast majority are in critical construction or key workers in oil and gas. They work, I get paid. After the last financial collapse in 2008, contracting rocketed and expect the same from this. Pretty secure as you can be so using the money on something I would have paid alot of interest on next year. Alot of contractors operating limited companies are getting crazy loans much higher than the legislation has stated, there is no checks going on which is mental. They are using it for down payments on second homes and such. Alot of people can make a killing from all this but alot are going to f*** themselves over big style.

:thup: rule of thumb I’ve learned, do what’s best for yourself and your business together whenever if you can, as long as it doesn’t f*** over your staff. A lot of big businesses and so-called big and successful entrepreneurs could learn a thing or two from SMEs and the little businessman.


I know a few people this has been a godsend too, a few who are gonna blow it on their lifestyle while they can f***ed either way economically short and long term in business because of Covid-19.

We’re are still weighing our options up right now as to whether we use the bounce back money or transfer it straight back. Im sure whatever decision we do eventually go with, we won’t regret it or ends up a mistake of ours.
Wee Hughie - the greatest centre-forward Newcastle United ever had

Offline HTT

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Re: The Car Thread
« Reply #6441 on: Friday 22 May 2020, 08:59:57 PM »
I might be getting this next week...





In the end I didn’t even test drive it as by the time I was in a position to do so. someone was coming to view it with the intention of buying it which by the time I turned up, was signing the log book. Kudos to the seller for keeping me informed and letting me know there was a good chance it would be gone. Truth be told, I’d Have been daft buying it and know nowt about these cars which the bloke who did buy it seemed to having owned several. Glad it went to a good home, it sounded lovely pulling away, not a turbo though, just a V6 which I’m told are better engines and don’t cause as many problems but are obviously less valuable. It went for 3k in the end.

Meanwhile my trusty 28 yea old retro BMW has clocked up another 1k + miles this week, taking my total since I got it last August to over 10k, not bad for a 2k car. I’ve done less than that in 2.5 years in the AMG.

Could have done with the AC working this week mind and a decent stereo, it still has its original tape one. Old BMWs, proper machines, proper engineering.
Wee Hughie - the greatest centre-forward Newcastle United ever had

Offline Hughesy

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Re: The Car Thread
« Reply #6442 on: Today at 11:18:26 AM »
Quick question on tyre insurance - we ended up taking out tyre and alloy insurance when we bought our car 1 year ago.  It was our first decent car so we thought we might as well take out the insurance for peace of mind.  Ended up with a nail in my tyre last week so rang the insurers to get a claim in.  My dealership isn't open at the moment so the insurers said I could take the car to Kwikfit and, having looked at the tyre, the insurer authorised a new tyre.

I turn up to Kwikfit and, despite the authorisation, they insist on plugging the tyre rather than fitting a new one.  I queried this at Kwikfit and they said it would be fraudulent to change a tyre if it could be plugged.  This doesn't feel right?  I appreciate I should have known this, but it feels odd that you pay a decent amount of money for an insurance policy where all you receive in return is a plugged tyre if something goes wrong.

Offline Gorilla

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Re: The Car Thread
« Reply #6443 on: Today at 01:06:39 PM »
Quick question on tyre insurance - we ended up taking out tyre and alloy insurance when we bought our car 1 year ago.  It was our first decent car so we thought we might as well take out the insurance for peace of mind.  Ended up with a nail in my tyre last week so rang the insurers to get a claim in.  My dealership isn't open at the moment so the insurers said I could take the car to Kwikfit and, having looked at the tyre, the insurer authorised a new tyre.

I turn up to Kwikfit and, despite the authorisation, they insist on plugging the tyre rather than fitting a new one.  I queried this at Kwikfit and they said it would be fraudulent to change a tyre if it could be plugged.  This doesn't feel right?  I appreciate I should have known this, but it feels odd that you pay a decent amount of money for an insurance policy where all you receive in return is a plugged tyre if something goes wrong.
Yeah but if it does fail then they'll just replace it