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Hold on you own a range rover sport and a Mercedes s65. Are you really in a position to talk about people 'wasting' money on cars.
I know someone who bought a brand new TOTR Jaguar by walking into a showroom, pointing out the one she liked, saying 'I'll take that one please'; no test drive, nuffink. Paid in full on the spot. Drove away in it just a few minutes later.
She chose it cos she liked the colour. 😯
Class. 8)
Bought my wife's car outright last year, pre reg focus with sub 100 miles on clock so effectively new. Got s good chunk off list price and will probably keep it until it dies. That's the most we have ever spent on a car. Mike are always 1-2k mark and bought cash.
Yep, once. Integra Type-R. They dropped the list price at the end of the run so a new one was same price as year old ones I'd been looking at. Didn't walk into a dealer though, just phoned them.
Kept it 5 years. Still miss it!
I bought my last one £25k on finance, because the interest rate was so low it was cheaper to take the loan rather than forego the interest on my savings. Not sure I could negotiate the same deal in the current climate.
However, even if that were not the case I would have still financed it, as you never know when you need access to your savings / liquid assets and £25k is a shit1 load of cash.
Last 4 cars have all been new, kept for 5-6 years. Happy to accept the depreciation for the benefit of a new car and it hasn't proven too painful. I can't live with unreliable cars.
Honda x2 perhaps £1.5k per annum, Golf £2k per annum, Audi probably nearer £3k per annum, which I guess is about my limit before re-evaluating my options.
I think generally I would go 50% cash/px 50% finance, but I don't like huge loans so would probably not wish to borrow much more than £10-12k
My diesel had 5k off the list price (paid 7500 for it)
Less than a year old with 23k on it when i bought it. I was happy with the saving. 10 years on with hardly any faults and a huge mileage.. i`m even more delighted. The other car cost me £2700 but ive spent a lot more on it than that. Still dont regret it and the 3k loan i took out for it cost me £3321 total amount payable so it hardly broke the bank.
I would never buy a brand new car unless i could really afford to. Even then when buying brand new it would have to be fresh from the showroom. None of this 100 miles on it by god knows who. I would never pay full price for something with that mileage on it from new. I would be running it in as easy as possible no matter what they tell us nowadays on how tough engines are. That is something i would want to do myself having shelled out 20k+. Edit: even 8k!
but I don't like huge loans so would probably not wish to borrow much more than £10-12k
my mind boggles at the idea of £10k being a 'small' loan*
*it doesn't boggle at the idea of £10k being small or resonable money to people, I just dont think I could ever bring myself to [b]borrow[/b] $10k from anyone, for anything apart from my mortgage, which is an entirely different kettle of fish.