Anyone else get cold feet buying a new car...
Discussion
I think it's normal to have doubts whenever spending a lot of money.
Ignoring the fact that I have been saving a long time to buy something nice for the weekend, Selling all my other toys and consolidating my fun into one machine rather than half a dozen.
Ignoring the fact I know how much I would love something special on my driveway and how it would make me feel behind the wheel.
I am now at the stage where the little voice in my head is saying "seriously?.... that's more than the deposit on your house?..."
I am trying to quiet it by reassuring myself that insurance and warranties are there for when the unfortunate happens. So the only real enemy I guess is depreciation. All cars can lose money, but the smiles and memories should at least equal or outweigh this.
I can always sell the car if I need cash urgently for something.
I could get hit b a bus tomorrow and would hate the fact I never took the leap.
I hate this stage, I wish I was less sensible with money - getting older isn't fun!
I'm just rambling now..... lol
Ignoring the fact that I have been saving a long time to buy something nice for the weekend, Selling all my other toys and consolidating my fun into one machine rather than half a dozen.
Ignoring the fact I know how much I would love something special on my driveway and how it would make me feel behind the wheel.
I am now at the stage where the little voice in my head is saying "seriously?.... that's more than the deposit on your house?..."
I am trying to quiet it by reassuring myself that insurance and warranties are there for when the unfortunate happens. So the only real enemy I guess is depreciation. All cars can lose money, but the smiles and memories should at least equal or outweigh this.
I can always sell the car if I need cash urgently for something.
I could get hit b a bus tomorrow and would hate the fact I never took the leap.
I hate this stage, I wish I was less sensible with money - getting older isn't fun!
I'm just rambling now..... lol
As CB rightly says nothing wrong with questioning your decision.
With more upside than downside value wise for a selection of interesting ICE cars at all price categories atm plus financial markets likely to show falls buying the right car really is a no brainer and could very well pay you well over the next few years plus you obviously get the added advantage of driving your dream car whenever you want.
I would much rather have money tied up in appreciating ££ nice cars atm than sitting on cash the value of which is being seriously eroded by rampant inflation.
Win win.
With more upside than downside value wise for a selection of interesting ICE cars at all price categories atm plus financial markets likely to show falls buying the right car really is a no brainer and could very well pay you well over the next few years plus you obviously get the added advantage of driving your dream car whenever you want.
I would much rather have money tied up in appreciating ££ nice cars atm than sitting on cash the value of which is being seriously eroded by rampant inflation.
Win win.
It's slightly different for people who are in a home they expect to outgrow soon, with limited disposable income who are PCP'ing themselves up to their eyeballs.
You've worked hard for the money, it's going in to a car that would hopefully have minimal depreciationg and you're expecting to enjoy the vehicle. It seems like a no-brainer to me, so long as you're happy with the price and accepting of the potential cost of buying and selling to a dealer within 6months if you changed your mind then I'd say that's all the boxes ticked.
You've worked hard for the money, it's going in to a car that would hopefully have minimal depreciationg and you're expecting to enjoy the vehicle. It seems like a no-brainer to me, so long as you're happy with the price and accepting of the potential cost of buying and selling to a dealer within 6months if you changed your mind then I'd say that's all the boxes ticked.
It's a used car, so try and think of the immediate stressed resale, the difference between that price and what you are paying is what's at risk.
My first expensive and desirable (to me at the time) car I financed but had a deposit that meant in a distressed sale I would have just lost the deposit, I weighed that amount up against the desire/experience to own it and that won.
All I would argue in your case is the getting rid of all the others? there could be regret there if the AMG is not going to be a very long term car?
What is the fleet?
My first expensive and desirable (to me at the time) car I financed but had a deposit that meant in a distressed sale I would have just lost the deposit, I weighed that amount up against the desire/experience to own it and that won.
All I would argue in your case is the getting rid of all the others? there could be regret there if the AMG is not going to be a very long term car?
What is the fleet?
I've done this a couple of times... doubted the up-and-coming purchase, and then, in the end, yes 
regretted it. It's frustrating not being able to knock that feeling afterwards, and it's meant I've sold them on within 6 months, but! I don't regret buying them as such. Never lost a lot and had fun in the process. Figured it's just not for me, and I enjoy throwing a cheap car around much more 
regretted it. It's frustrating not being able to knock that feeling afterwards, and it's meant I've sold them on within 6 months, but! I don't regret buying them as such. Never lost a lot and had fun in the process. Figured it's just not for me, and I enjoy throwing a cheap car around much more 
Mirinjawbro said:
i thought that about an older 987 i need to get rid of.
not the same level of course but in 6 months i've lost 4k on it after assuming it was pretty much depreciation proof.
Wow - tbh the 987 is usually pretty good. I went from that to a potential 997, but looking at prices it was hard not to just go for the newer 991 at the similar price point.not the same level of course but in 6 months i've lost 4k on it after assuming it was pretty much depreciation proof.
I'd say that Porsches have probably benefitted most in the last two years with price increases, especially the "ugly" 996 with values doubling in some cases.
ninjag said:
You only live once and we pretty much get used all our lives providing for others, so nothing wrong with treating yourself properly. Besides, a new toy can be great for mental wellbeing; something which can creep up on guys.
I completely didn't even think about that. Of course we buy things because they make us happy, but I forget how much I love having a "pride and joy" vehicle. Something that makes the long working hours worth it, and gives you a real escape and reward :-) Scootersp said:
It's a used car, so try and think of the immediate stressed resale, the difference between that price and what you are paying is what's at risk.
My first expensive and desirable (to me at the time) car I financed but had a deposit that meant in a distressed sale I would have just lost the deposit, I weighed that amount up against the desire/experience to own it and that won.
All I would argue in your case is the getting rid of all the others? there could be regret there if the AMG is not going to be a very long term car?
What is the fleet?
The fleet was two Westfields (V8 Seight and Zetec FW), half a dozen bikes, with the one remaining Honda SP2 up for sale at the moment. It was great to be able to say "I have one of these" but multiple insurance policies, maintenance and taking up space started to make less financial sense.My first expensive and desirable (to me at the time) car I financed but had a deposit that meant in a distressed sale I would have just lost the deposit, I weighed that amount up against the desire/experience to own it and that won.
All I would argue in your case is the getting rid of all the others? there could be regret there if the AMG is not going to be a very long term car?
What is the fleet?
Thanks for all the input, I guess its just like pre wedding jitters! lol
Like many have said, I'd rather regret buying it than not buying it. The regulations may mean we don't get these beasts for much longer.
Besides the end goal has always been save up and get something special. I just didn't expect to reach that goal.
As very poignantly said, any loss on depreciation to resale value is the only real loss. It's easy to forget this, which is actually quite small. It's easy to think that you are spending all that you have saved, and will never see it back.
Besides, above anything else, I work very hard and I bloody deserve it! :-)
Like many have said, I'd rather regret buying it than not buying it. The regulations may mean we don't get these beasts for much longer.
Besides the end goal has always been save up and get something special. I just didn't expect to reach that goal.
As very poignantly said, any loss on depreciation to resale value is the only real loss. It's easy to forget this, which is actually quite small. It's easy to think that you are spending all that you have saved, and will never see it back.
Besides, above anything else, I work very hard and I bloody deserve it! :-)
I love cars, I love detailing/cleaning, fixing, buying them but just never feel I am being sensible when it comes to which ones I buy.
Finances are a lot of the subconscious reason, if I buy something and I pay the loan off it feels like less of a financial hit with depreciation. Little different when its money you've saved up.
Finances are a lot of the subconscious reason, if I buy something and I pay the loan off it feels like less of a financial hit with depreciation. Little different when its money you've saved up.
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