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Bandit

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    Chasing Interest

    in Off Topic Discussion

    Posted

    I have a quick question ATTAK, if you buy a car say for £25k on 0% finance and you keep it for a year or so and you sell it

    you will get £18k for it if your lucky depending on the car. How do you factor in the £7k loss or am I missing something..?

     

    No I didn't say I was buying it as an investment so you're quite right if you thought I was ... the only way to make money on a NEW car is to be on the Ferrari or Porsche mega-customer list. Which I am definitely not.

     

    The car I bought is for Mrs ATTAK, will do few miles and WILL depreciate. It will probably be the only car we have when I can't justify/afford having more than one car.

     

    I have a pet hate of loosing money on cars, so I have a budget of about £10k for a car, so I look around and

    buy something I like at that price that I can keep for 2 years and sell for the same amount as I paid for it, has worked up to now. It just seems a lot of work and afford to accumulate say £2k or £3k PA on interest and then loose it on a car via depreciation.

    But that's just me, also every couple of years or less you can get a reasonably nice car that somebody else has taken a big hit on.

    Chasing Interest

    in Off Topic Discussion

    Posted

    It's a good game this ... I recently bought a car through CarWow ... I got 20.7% off list, so a good deal ... the discount included £1k manufacturer's contribution if I took out 0% finance deal which I will do.

     

    I now have to put down about £5K deposit which I'll do with a new 0% credit card and I'll invest the cash I would have used in a 5% interest account. The monthly payments for the next year will also be paid by said credit card and I'll invest that money in a 5% interest account too. At the end of 12months I'll do the same again and (hopefully) get a bonus for switching the current account and get another 0% credit card. At the end of that period I'll probably pay off the car with cash and interest earned ...

     

    The car's for Mrs ATTAK Z so she's happy, I've saved money and will make money on the investment, so I'm happy, and I've sold the old car privately for a good price which has already been invested. Also the new car is zero road tax if it's registered before April (which it will be)

     

    So that's a WIN WIN WIN WIN WIN WIN situation if my calculations are correct ...happy days

     

     

    ETA and I get 0.5% cash back on all credit card purchases ... ;)

     

    I have a quick question ATTAK, if you buy a car say for £25k on 0% finance and you keep it for a year or so and you sell it

    you will get £18k for it if your lucky depending on the car. How do you factor in the £7k loss or am I missing something..?

    Who will win???

    in Media

    Posted

    I think you're massively overestimating the 370. I think the times may be closer, but the Megane would still win.

     

     

    Rarity is the most pointless reason for owning a car ever.

     

    Wonder if all the driver aids were fully OFF on both cars..???

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