WFH, sold car during lockdown - no motivation to replace?
Discussion
Pre Covid I had a 2015 GT86 that I used to commute to work. Quit my job end of 2019 and then lockdown happened, sold the GT86 as soon as WBAC re-opened because I was living off savings without any job interviews on the horizon. (it's probably worth more now lol)
Set up my own business and have been working from home for 3 years. I have a supermarket 5 mins walk away. My gym is 5 mins walk away. If I need to go into town then it's 30 minutes walk and I like the exercise.
I've had a recent side hustle overtake my business, and that side hustle occasionally requires me to travel. I can get a train to London and I have rented a car on 4 occasions in the past year for business trips to Birmingham, Swindon, Cheltenham. I am in Hampshire.
I am now thinking I need a car, partly to break myself out of a rut where I am used to walking everywhere but mostly within my own city. I am early 40s, single, no kids and having a car would expand my boundaries.
After using all my savings during Covid (I travelled a lot) I did think I was in the save and invest as much as possible mindset. But since I've started looking at cars I find myself looking back in that range of 15-20k at buying another GT86, Audi TT or similar. I could probably take out a loan for that amount and then significantly overpay using money designated for my ISA and then just keep that car for as long as possible. Or look at a business lease option.
I live in an apartment and my designated space is too far from the building to have an EV charger installed - so a full EV for 2% bik tax is not an option.
But then I start thinking about how much I would really use the car and whether I can justify spending that much, or if I even need a car at all.
Was anyone else in a similar position?
Any other similar cars I should consider at the 10-15k range?
Set up my own business and have been working from home for 3 years. I have a supermarket 5 mins walk away. My gym is 5 mins walk away. If I need to go into town then it's 30 minutes walk and I like the exercise.
I've had a recent side hustle overtake my business, and that side hustle occasionally requires me to travel. I can get a train to London and I have rented a car on 4 occasions in the past year for business trips to Birmingham, Swindon, Cheltenham. I am in Hampshire.
I am now thinking I need a car, partly to break myself out of a rut where I am used to walking everywhere but mostly within my own city. I am early 40s, single, no kids and having a car would expand my boundaries.
After using all my savings during Covid (I travelled a lot) I did think I was in the save and invest as much as possible mindset. But since I've started looking at cars I find myself looking back in that range of 15-20k at buying another GT86, Audi TT or similar. I could probably take out a loan for that amount and then significantly overpay using money designated for my ISA and then just keep that car for as long as possible. Or look at a business lease option.
I live in an apartment and my designated space is too far from the building to have an EV charger installed - so a full EV for 2% bik tax is not an option.
But then I start thinking about how much I would really use the car and whether I can justify spending that much, or if I even need a car at all.
Was anyone else in a similar position?
Any other similar cars I should consider at the 10-15k range?
Edited by famasfilms on Wednesday 13th March 12:10
Do you feel you need to expand your horizons?
Get out more further afield in your spare time?
Visit places, go walking, camping trips, visit places of interest etc..?
If so then a car would give you that freedom and flexibility.
A £10k car would do that very easily.
MX-5, TT, GT86, best E46 330 M Sport coupe you can find,
Get out more further afield in your spare time?
Visit places, go walking, camping trips, visit places of interest etc..?
If so then a car would give you that freedom and flexibility.
A £10k car would do that very easily.
MX-5, TT, GT86, best E46 330 M Sport coupe you can find,
Why spend 10k?
I did the same, sold my 10k car during lockdown, WFH started - banked the money, overpaid my mortgage (still am) and went shedding for £1500.
Still WFH on the occasion when needed at my desk - but work is very busy now, quite often travelling alot with work, lots of mileage with my job....and yep still shedding, wont have an expensive car (too me) again now.
My whole financial outlook on things changed over that period.
Slightly different situation probably, but car related.
I did the same, sold my 10k car during lockdown, WFH started - banked the money, overpaid my mortgage (still am) and went shedding for £1500.
Still WFH on the occasion when needed at my desk - but work is very busy now, quite often travelling alot with work, lots of mileage with my job....and yep still shedding, wont have an expensive car (too me) again now.
My whole financial outlook on things changed over that period.
Slightly different situation probably, but car related.
famasfilms said:
...I have rented a car on 4 occasions in the past year...
This is probably the 'sensible' thing to do if there's a convenient rental car location near you.I pretty much only drive my car at weekends due to WFH or commuting by train, so have been similarly unmotivated to upgrade since the Covid era price increases.
It's interesting (not a criticism), that someone on Pistonheads (i.e. presumably a petrol head) has been happy without a car for so long, but sounds like there's been other priorities.
I like to walk or cycle whenever it's practical, l but I just couldn't imagine not having a car of my own, a GT86 as it happens
I like to walk or cycle whenever it's practical, l but I just couldn't imagine not having a car of my own, a GT86 as it happens
7 5 7 said:
Why spend 10k?
I did the same, sold my 10k car during lockdown, WFH started - banked the money, overpaid my mortgage (still am) and went shedding for £1500.
Still WFH on the occasion when needed at my desk - but work is very busy now, quite often travelling alot with work, lots of mileage with my job....and yep still shedding, wont have an expensive car (too me) again now.
My whole financial outlook on things changed over that period.
Slightly different situation probably, but car related.
Nah sounds very similar situation. You sound like you drive a lot more than me.I did the same, sold my 10k car during lockdown, WFH started - banked the money, overpaid my mortgage (still am) and went shedding for £1500.
Still WFH on the occasion when needed at my desk - but work is very busy now, quite often travelling alot with work, lots of mileage with my job....and yep still shedding, wont have an expensive car (too me) again now.
My whole financial outlook on things changed over that period.
Slightly different situation probably, but car related.
Reason for thinking I should spend a bit more is to get something fairly new, lowish mileage (my prev GT86 only had 20k miles on it IIRC) and reliable that I can keep for a decently long time.
My car prev was a 2002 merc c-class coupe for £3k that was a money sink. My concern would be breaking down during a 2-4 hour motorway drive
(although you'd prob get better returns putting those mortgage overpayments into a S&S isa and/or pension?)
If I was in that position I think I'd be inclined to get a Porsche Boxster or a Cayman. Not sure where you live and if there's any good roads around you, but having a lovely 6 cylinder engine should encourage you to pick up the keys to just go for a leisurely drive. Although I've had car(s) since passing my test, I did find sometimes I just fell out of love with driving and only did the necessary. But being a bit of a petrolhead I actually love to drive, so picked up a 986 a few years ago just so when I woke up on a Sunday morning and the weather was good I wanted to just pick up the keys and go.
I started working from home in lockdown and never went back into the office. I should have sold my car in 2020 but hung on to is a it's almost worthless.
Do 1000 mile/year to the gym. Any other travel is by bike or walking (when i dont have to use wifes car) as its so much more enjoyable than driving these days.
I no longer tolerate driving in rush hour or busy weekend traffic. Still a petrol head but I have no interest in anything until I can afford a porsche/Lotus (~£60k)... which even if i could afford it would be pointless as I don't do the miles.
Not stuck in a rut - I just think the future will be more green (more wfh, better public transport, supermarket deliveries).
Do 1000 mile/year to the gym. Any other travel is by bike or walking (when i dont have to use wifes car) as its so much more enjoyable than driving these days.
I no longer tolerate driving in rush hour or busy weekend traffic. Still a petrol head but I have no interest in anything until I can afford a porsche/Lotus (~£60k)... which even if i could afford it would be pointless as I don't do the miles.
Not stuck in a rut - I just think the future will be more green (more wfh, better public transport, supermarket deliveries).
Not having a car must limit your social life though, plus it would be handy if you needed to go to town when it was raining!
I couldn't visit family or friends without a car and it's essential for days out at race circuits or visiting places like Gaydon with mates.
You could probably get a Nissan 350Z or a BMW Z4 for around £5K if you prefer not to borrow/borrow much whichever applies.
I couldn't visit family or friends without a car and it's essential for days out at race circuits or visiting places like Gaydon with mates.
You could probably get a Nissan 350Z or a BMW Z4 for around £5K if you prefer not to borrow/borrow much whichever applies.
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