How to finance an exotic car

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  • How to finance an exotic car
  • Premier Icon flange
    Subscriber

    My friends car is a Diablo…in white. It’s flipping cool though.

    4 tyres on my Q7 were £1200 and it’d do a set in 10K miles. The brakes on my rs4 were well north of £1500 for oem ones. The rebuild on my M6 is over 9k. Go in with your eyes open and research forums. I’d have never have bought the M6 if I had.

    Properly fast cars are cool though. I dream of the day when mine is fixed and I can go back to Spa….the spar would be nice right now.

    All this talk about monetary cost, what about the environmental cost? Do none of you care?

    As already mentioned, the cost of reusing an existing car will be far more environmentally friendly than even cleanest new car.

    But back to the original question, the finance of supercars is much harder nowadays as already said due to the reduction in appetite by lenders.

    Generally I’d say (based on buying them in the past), if you cannot afford to buy the car twice then you can’t afford it.

    If you get the right one at the right time they can be wonderful, I have broken even on Exiges, 911’s and 355’s, and made money on Vantages. But you can’t guarantee, and if it’s your main car you will be putting miles on it so value will go down. As a second car you don’t have to rely on an old exotic is great – but you will need to put aside 5k each year to keep it on the road (£1k service, £1.5k consumables, £1k insurance, £500 tax).

    Hopefully you never need the slush fund so you will have spare cash and won’t need to put it all aside each year, but if you don’t put it aside you can bet you’ll need it.

    Premier Icon geoffj
    Subscriber

    I dream of the day when mine is fixed and I can go back to Spa….the spar would be nice right now.

    😆

    Premier Icon nixie
    Subscriber

    I’ve thought about this quite seriously, and I only lust after a slightly exotic car (Elise S1).

    Buy one. You won’t regret it. Bought mine in 2008, now worth more than I paid :).

    Premier Icon tonyg2003
    Subscriber

    The only problem with buying some exotics at the moment is that there have been huge increases in their value over the last few years and that makes them either very expensive or possibly at the top of their value for now, hence it’s hard to see the gains of the recent years happening again for a while.

    Premier Icon ravingdave
    Subscriber

    Haha! The Ved was just intended as an example of how model research can potentially save some money. But interesting to hear people’s good and bad stories, keep email coming

    Premier Icon Tiger6791
    Subscriber

    Was chatting to one of the chaps round our way. Loads of silly cars round us.

    He was saying the really nice stuff is going up in price and going abroad. Mainly India & China where they didn’t have many 355s sold orginally but now loads of people want them for ‘thier collection’

    One of these fine modes of transport is mine 😉


    Although all 4 of my last ‘fun’ cars have gone up in value and have been very cheap to run

    thesurfbus
    Member

    Pre March 2006 VED is £295 not £500

    plyphon
    Member

    I didnt realise Audi RS5’s were now considered “normal”

    Premier Icon takisawa2
    Subscriber

    Do you think my Galaxy falls into this exotic category ?

    ScottChegg
    Member

    All this talk about monetary cost, what about the environmental cost? Do none of you care?

    Odd to come on an exotic car thread to spout this handwringing nonsense.

    I did 35,000 in my (diesel) car at 120g CO2. I did 3,500 miles at 254g CO2 in my Boxster. Which was worse for the environment?

    I did more than 3,500 miles on my bike last year. Using the power of offsetting, I must be a fully fledged earthmuffin?

    mindmap3
    Member

    £1000 for 4 tyres isn’t out of the ordinary for ‘normal’ cars these days.
    A builder friend was paying north of £300 for one tyre for his Q7

    That’s not that outrageous really – a set of tyres for our old 330 wasn’t far off this and those wheels were on 318 M Sports.

    Premier Icon aracer
    Subscriber

    ScottChegg wrote:

    I did 35,000 in my (diesel) car at 120g CO2. I did 3,500 miles at 254g CO2 in my Boxster. Which was worse for the environment?

    Building two cars so one can sit on your drive?

    ScottChegg
    Member

    Neither was bought new. So they were already built when I came along. And I only drive them one at a time, so the impact isn’t double, whatever your schoolboy maths might tell you.

    And I have 4 bikes, should you only have one at a time? Or am I destroying the ozone layer with my insatiable lust for variety?

    wzzzz
    Member

    Don’t do it, invest the money in your pension pot so your kids don’t have to pay for your care.

    Get a 911 996 for £12k, more real world usable. And it will still be worth that when you sell it.

    Premier Icon Northwind
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    stumpy01 – Member

    and a TVR ‘project’ car that seems to have been a ‘project’ as long as I’ve known him (about 4.5 yrs).

    Clever man- worst thing you can do with a project is finish it, then all you’ve got is a car.

Viewing 16 posts - 41 through 56 (of 56 total)

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