QP GTS available (briefly)

outrun

Member
Messages
5,017
SEIS/EIS - Whats that - I am sure you tried to explain it to me on first Le Mans night but I am thick and was ******, so how could an average Joe invest...

Give me a bell on Monday and I'll explain it. If you have a tax bill looming, it's a great way to offset it and potentially make a bunch of money.
 

CatmanV2

Member
Messages
48,539
Stop it...lol, no we will have to take out mortgage(s),

You see my point, though. You're ideologically opposed to borrowing money. Except when you aren't.

The human mind is a fascinating and wonderful thing, to be sure.

C
 

rockits

Member
Messages
9,167
Which surprises me for someone who lives in a house the size of yours.
I've only got a 4 bed detached cottage the size of which is the same as many other normal folks I guess. I'm certainly not rich or anywhere close. The financial world seemes bit too happy to support people like me & I'm happy not to support them where possible. It is one of those love hate relationships!
 

D Walker

Member
Messages
9,827
You see my point, though. You're ideologically opposed to borrowing money. Except when you aren't.

The human mind is a fascinating and wonderful thing, to be sure.

C

Borrowing money for cars!!!!!!
I've paid cash for all of mine since my XR2 in 86,,,,
I've never been able to afford a house without a mortgage.
 

rockits

Member
Messages
9,167
Your in the same camp as me Dave. We seem to be in the minority it seems.

My problem is not necessarily financing stuff or cars. I just don't trust any of the people or companies that offer it. There often to be a twist or small print or something to try to catch you out.
 

rockits

Member
Messages
9,167
I need a car and I can't obtain credit......I have no cash either......if anyone knows a lender which accepts average credit scores let me know.....
I might have the Alfa GT coming back soon that you can borrow for a while if you want Dem. What happened to your Alfa...sold it?
 

rockits

Member
Messages
9,167
It won't work as the GTS is only worth £35k say and the deposit on it is around £17k. If I get that back at the end of he finance I would need to find another 33k to get to the £50k deposit. If my shares come in then it's entirely plausible but I do t want to count my chickens. My plan is to get into a Strad next (4 seater) so it will take some man maths as they are around £80k start. First World problems eh?
Sounds like a good plan. A Strad is where I think I should be as well I just don't think I would get to use it enough so seems a little silly.
 

D Walker

Member
Messages
9,827
Yep,
But I am starting to see the benefits (If I buy a higher end car) rather than a daily run around as I can put that extra money somewhere else to hopefully gain some rather than have it in a car that is losing money, all the time. if the extra invested could balance the scales of the interest on the financed vehicle then its neutral and I am happy...
Was similar when we bought last house, I had enough to buy outright but meant we couldnt renovate it, I found a mortgage @ 0.7 above Bank of England base rate which was 5.4 at the time so i was paying 560 a month i think, when the rate started dropping i fixed the payment at the 560 as that was what we were used to, well, however many years at 1.2% meant i was overpaying tons on my repayment mortgage, net result when we sold up was a hefty profit + the cash I never sunk in to buy it in first place.
And now we are in an Aluminium can and loving it, and more importantly....life, my only debt is 2 brats at Uni, but I am glad I can give them the opportunity, even if I was bright enough it would not be the environment i would achieve in..
 

D Walker

Member
Messages
9,827
Yep,
But I am starting to see the benefits (If I buy a higher end car) rather than a daily run around as I can put that extra money somewhere else to hopefully gain some rather than have it in a car that is losing money, all the time. if the extra invested could balance the scales of the interest on the financed vehicle then its neutral and I am happy...
Was similar when we bought last house, I had enough to buy outright but meant we couldnt renovate it, I found a mortgage @ 0.7 above Bank of England base rate which was 5.4 at the time so i was paying 560 a month i think, when the rate started dropping i fixed the payment at the 560 as that was what we were used to, well, however many years at 1.2% meant i was overpaying tons on my repayment mortgage, net result when we sold up was a hefty profit + the cash I never sunk in to buy it in first place.
And now we are in an Aluminium can and loving it, and more importantly....life, my only debt is 2 brats at Uni, but I am glad I can give them the opportunity, even if I was bright enough it would not be the environment i would achieve in..
 

rockits

Member
Messages
9,167
I do see the benefits & do agree. I come from a very simple working to upper working class background with no family of any professional background or of much academia. The thought of spending 50k+ on a car is very foreign to me.

My life & finances are complex enough & I would like them simpler. I have done all the things like d1ck around with ISA's & investments then finding you have to keep bl+%dy moving them around as they keeping changing rates/charges/goalposts.

It would be much simpler to live in a flat & not have anything, p1ss it all up the wall each week & have no worries. I just can't be like that.

I might come around to all this mullarky a little after you but the trust thing is a real problem for me. I see insecurity in IT & tech system every day of the week. The banks & other alike are all very insecure much of the time & this does genuinely scare me. Driverless connected cars....receipe for disaster.

Best thing we can do is slow down tech, rewind 10 years, make it secure from the ground up the try again. I don't see this insecurity getting fixed as the companies are too big, the issues are too big & the attitudes are wrong.

That is all nothing really to do with the finance methods were are discussing directly & certainly nothing to do with Ewan selling his car. Sorry Ewan!
 

D Walker

Member
Messages
9,827
Agreed, Sorry Ewan,
But, surely you have just identified your very own market - banking security - if you can see it from where you are placed now,
My BIL is like way up in Yorkshire Bank, he wants out, hates it, but they wont pay him off as he has written a load of their systems and programs, they've paid off and sacked loads of the guys around him who then walk away and contract on double money (at least) But he is holding for redundancy, its mad, he nearly earns as much through his ebay business, now you may work out where I found the money making mortgage.....
 

SPX

Junior Member
Messages
271
What happens at the end if I don't want to pay the balloon?

You give them the car back and you're left with diddly squat!

Seriously though, if you've been a cash buyer all your life I'd recommend sticking to that mantra; I know loads of people who've thrown say a six year old car in as a deposit then paid £500 monthlies and at the end of three years are sat with nothing. So, in numbers, they've put down £5,000, paid £18,000 in rent, total £23,000 to end up with nada.

In my experience those that push the idea of finance are one of two things; they're either in or around the finance world or they have their own vehicle on finance and like to subconsciously justify their own decisions by trying to convince others to do the same...
 

D Walker

Member
Messages
9,827
I hear you,
Where we live, North Yorkshire, farming area there are tons of RR Sports and brand new XC 90's, and I mean shed loads so I am thinking they must be on pcp deals,

I have the means for cash but can see the sense in using it elsewhere to make some more instead of sinking it into a car,
Lots of good advice and sensible discussion so I think i know where I am headed,
Luckily I am not the type to buy a high end car just so i "look" like I can afford it, there will always be the means to cover it should things go belly up..
 

mjheathcote

Centenary Club
Messages
9,033
Interestingly the head of Ford GB was on the radio earlier this week, mainly over their scrappage scheme.
He did say that 85% of their new car sales were on PCP.
I was surprised, but at the same time, not!