Coming into some money - what should I buy?
Discussion
Yes, there's thousands of these threads, I'm sorry 
I'm inheriting a (for me) large amount of money and whilst this would normally go straight on buying a house (as we rent) the raise in interest rates etc make this a pretty bad decision to make for the next year or two.
Therefore, I would like to get something fun, rare, and potentially appreciating in value. There are a couple of caveats;
I live in Germany, which means prices are very different to UK prices.
Related to the above - I'm not really a fan of BMW / Mercedes so whilst there are a lot of them about, I'm not really into them
It wouldnt have to be anything practical at all, and I have a garage where I can leave it.
A couple of the thoughts I've had so far are:
The money is from my Dad, his favourite car was always the E-Type but he never had a license. I thought of getting a LHD from the UK and bringing it over (I've seen a few S3's for around £50k)
Honda NSX (from around €75k)
Escort Cossie (€45k)
Maserati GranTurismo or Cambiocorsa (though parts / service prices terrify me)
Porsche 911 996 / 997 - I admittedly know nothing, but it seems the price can't drop MUCH lower than they already are.....
Any ideas or suggestions?
I'm inheriting a (for me) large amount of money and whilst this would normally go straight on buying a house (as we rent) the raise in interest rates etc make this a pretty bad decision to make for the next year or two.
Therefore, I would like to get something fun, rare, and potentially appreciating in value. There are a couple of caveats;
I live in Germany, which means prices are very different to UK prices.
Related to the above - I'm not really a fan of BMW / Mercedes so whilst there are a lot of them about, I'm not really into them
It wouldnt have to be anything practical at all, and I have a garage where I can leave it.
A couple of the thoughts I've had so far are:
The money is from my Dad, his favourite car was always the E-Type but he never had a license. I thought of getting a LHD from the UK and bringing it over (I've seen a few S3's for around £50k)
Honda NSX (from around €75k)
Escort Cossie (€45k)
Maserati GranTurismo or Cambiocorsa (though parts / service prices terrify me)
Porsche 911 996 / 997 - I admittedly know nothing, but it seems the price can't drop MUCH lower than they already are.....
Any ideas or suggestions?
Ok, I know this is PH but if you don’t own a house, I wouldn’t spunk it on a car!
What you pay in rent is dead money, and probably more expensive than a mortgage. Have you looked at using this money as a deposit on a property and compared monthly repayments to what you currently pay in rent?
By all means, enjoy a little but the sensible answer is buy your own property.
What you pay in rent is dead money, and probably more expensive than a mortgage. Have you looked at using this money as a deposit on a property and compared monthly repayments to what you currently pay in rent?
By all means, enjoy a little but the sensible answer is buy your own property.
If you want something nice and will hold its money , either the Etype ( S1 3.8 flat floor) or 60's Alfa or Maserati.
Germans seem to rent rather than buy . It's different to the UK ( as you're obviously aware) with government laws in place with price caps to prevent landlords charging as they wish.
Germans seem to rent rather than buy . It's different to the UK ( as you're obviously aware) with government laws in place with price caps to prevent landlords charging as they wish.
Edited by Draxindustries1 on Sunday 7th August 20:14
Yep, I have researched it a lot. I'm quite lucky in that I have a big rented house at a good price until July 2024 when they want to knock it down and build flats, and anything remotely big enough for 2 kids and a dog in my area is c. €7-800k. That would leave me with a 4-500k mortgage still, and the monthly costs on that are more than I pay currently by a big distance.
That's why I'd prefer to put some money into a car for a year or two so that when the time does come to buy (and hopefully interest rates have dropped back down again) I can sell up at a profit, unless i've stuck whatever it is in a hedge.
That's why I'd prefer to put some money into a car for a year or two so that when the time does come to buy (and hopefully interest rates have dropped back down again) I can sell up at a profit, unless i've stuck whatever it is in a hedge.
Jon556 said:
From the list (and I would probably have suggested it anyway) the NSX.
Something more modern but cheaper and just as special - and likely to retain value - Alfa 4C
I hadn't thought about an Alfa (other than the GTV6) - the 4C is VERY sexy. The idea of owning an Alfa terrifies me thoughSomething more modern but cheaper and just as special - and likely to retain value - Alfa 4C
Carfield said:
Leaving aside the obligatory advice to buy a house, the NSX must be the best combination of lowish running costs and retaining value.
And of course, you get the best car of all, for a while
One of about 3 for sale in Germany atm... https://www.ebay-kleinanzeigen.de/s-anzeige/honda-...And of course, you get the best car of all, for a while
Pica-Pica said:
Maximise your pension payments for the year, and you may be able to use unclaimed allowance from three previous years. Not exactly PH, but best today, assuming in your situation you can claim tax relief.
I don't live in the UK at all, unfortunately. And you wouldn't believe how bad the pensions are in Germany
Your choices of 911 or NSX should be a safe place to put your money,
These seem reasonable at the moment, and I don't think should loose much more.
First generation Audi R8
Nissan GTR
Aston Martin V8 Vantage
Maserati 3200 (although the running costs could be fun!!)
S3 Lotus Exige V6
Lotus Elise
These seem reasonable at the moment, and I don't think should loose much more.
First generation Audi R8
Nissan GTR
Aston Martin V8 Vantage
Maserati 3200 (although the running costs could be fun!!)
S3 Lotus Exige V6
Lotus Elise
Edited by jamesbilluk on Sunday 7th August 20:26
Edited by jamesbilluk on Sunday 7th August 20:27
What makes you think property prices will fall but car prices will stay high?
Don't throw away what could possibly be your only chance of getting on the property ladder.
It's a big risk, what if the car is a dud and you get a big bill, or if the car is already at peak value and then falls. With ever increasing fuel cost and government restrictions I wouldn't bet against this.
If house prices do go down a bit in the short term you've lost nothing as you don't need to sell and have already saved thousands in rent.
Inflation eats away at your debits if you take on a mortgage.
Don't throw away what could possibly be your only chance of getting on the property ladder.
It's a big risk, what if the car is a dud and you get a big bill, or if the car is already at peak value and then falls. With ever increasing fuel cost and government restrictions I wouldn't bet against this.
If house prices do go down a bit in the short term you've lost nothing as you don't need to sell and have already saved thousands in rent.
Inflation eats away at your debits if you take on a mortgage.
I think you could be buying at peak prices. I’d hold off a little while, see how things go. Apart from the usual GT/RS Porsche, is anything appreciating at the moment? I’d sit tight until the New Year (usually cheaper prices, post Christmas) and see where the market is at/state of the world!
The Hiphopopotamus said:
Jon556 said:
From the list (and I would probably have suggested it anyway) the NSX.
Something more modern but cheaper and just as special - and likely to retain value - Alfa 4C
I hadn't thought about an Alfa (other than the GTV6) - the 4C is VERY sexy. The idea of owning an Alfa terrifies me thoughSomething more modern but cheaper and just as special - and likely to retain value - Alfa 4C
Similarly a Lotus Elise, Exige or Evora?
On the Jaguar theme an F-Type coupe or cab V6 or V8 - although I’m not suggesting these will hold value!
GR86 said:
What makes you think property prices will fall but car prices will stay high?
Don't throw away what could possibly be your only chance of getting on the property ladder.
It's a big risk, what if the car is a dud and you get a big bill, or if the car is already at peak value and then falls. With ever increasing fuel cost and government restrictions I wouldn't bet against this.
If house prices do go down a bit in the short term you've lost nothing as you don't need to sell and have already saved thousands in rent.
Inflation eats away at your debits if you take on a mortgage.
All fair points and taken on board. With the current interest rate however, it's not a buyer's market. Leaving it until Christmas as the poster beneath you said might also be a good ideaDon't throw away what could possibly be your only chance of getting on the property ladder.
It's a big risk, what if the car is a dud and you get a big bill, or if the car is already at peak value and then falls. With ever increasing fuel cost and government restrictions I wouldn't bet against this.
If house prices do go down a bit in the short term you've lost nothing as you don't need to sell and have already saved thousands in rent.
Inflation eats away at your debits if you take on a mortgage.
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