Help me spend my money
Discussion
Hello, I'm kind of young and have an S3 which I like allot. It's got a few scratches but it's not bad. I'd keep it but...
I also drive a crappy everyday Proton which I don't like, but plan to spend about 2k on a daily drive again September when insurance goes down a little. (I can insure a TVR cheaper than a 323 BMW with MSM insurance via kit car policy, which is ridiculous). In the meantime, driving a TVR all the time when the weather is good between March and September is my cunning plan.
Shall I use most my savings, the S3 and even if needed a small loan from my keen father to
1) sell S3, buy the best, newest, 450/500 Chimaera I can afford + lending a few k from the old man (will still have enough for a nice everday car in September)
2) sell S3, buy a prefacelift earlier 400 Chimaera but in good condition without taking a loan of the old man and playing it safer
3) keep S3, sports exhaust and a respray for the ultimate gokarty fun runabout which is mint (but in turn I may be too afraid to use, not as good everyday, not as fast, but raw)
I am in between 1 and 3 but keep liking 2 at the same time. I am absolutly useless at making decisions and it's driving me mad...help me make a good decision. I ideally want to buy a car I'm going to keep for some time.
The only option is selling the S3 to my dad cheap (loose about 1k) and then buying a Chimaera so kind of keeping it in the family, but won't be able to afford a really decent Chim without spending pretty much most my hard earned money on cars.
LOL open to all your opinions
I also drive a crappy everyday Proton which I don't like, but plan to spend about 2k on a daily drive again September when insurance goes down a little. (I can insure a TVR cheaper than a 323 BMW with MSM insurance via kit car policy, which is ridiculous). In the meantime, driving a TVR all the time when the weather is good between March and September is my cunning plan.
Shall I use most my savings, the S3 and even if needed a small loan from my keen father to
1) sell S3, buy the best, newest, 450/500 Chimaera I can afford + lending a few k from the old man (will still have enough for a nice everday car in September)
2) sell S3, buy a prefacelift earlier 400 Chimaera but in good condition without taking a loan of the old man and playing it safer
3) keep S3, sports exhaust and a respray for the ultimate gokarty fun runabout which is mint (but in turn I may be too afraid to use, not as good everyday, not as fast, but raw)
I am in between 1 and 3 but keep liking 2 at the same time. I am absolutly useless at making decisions and it's driving me mad...help me make a good decision. I ideally want to buy a car I'm going to keep for some time.
The only option is selling the S3 to my dad cheap (loose about 1k) and then buying a Chimaera so kind of keeping it in the family, but won't be able to afford a really decent Chim without spending pretty much most my hard earned money on cars.
LOL open to all your opinions
Edited by The Lukas on Thursday 19th February 22:09
Your S3 is worth what you paid for it until the day you sell it. If you like it so much then why change?
A Chimaera is more common, and not that much faster in the real world. You'd have similar problems with both cars (rust, things wearing out, leaks etc.).
Why not keep the S3 for a bit and enjoy it - maybe swap the Proton for something slightly less crappy to keep you smiling on non-TVR days?
The decision is yours alone though - don't let Internet warriors make the decision for you.
A Chimaera is more common, and not that much faster in the real world. You'd have similar problems with both cars (rust, things wearing out, leaks etc.).
Why not keep the S3 for a bit and enjoy it - maybe swap the Proton for something slightly less crappy to keep you smiling on non-TVR days?
The decision is yours alone though - don't let Internet warriors make the decision for you.
Sadly I am not as old and sensible as the others on this post so lets hurl a spanner in the works!
Keeping the S3 and throwing money at it is one idea but I know from bitter experience that in terms of spending money on a car it is nearly as inefficient as burning it. £1000 for a respray? £300 on the value. £500 for a gearbox rebuild? £0 on the value!
A 400 Chim? Really why when the difference in price between the models is so small? Bear in mind that there is a huge difference in performance. The 500 has a power to weight ratio around 40% higher than a 400... Medium term you will start to get itchy feet and want to swop again which costs money
TBH at the present price I'd go for a 450 or a 500 and enjoy it. It will keep you entertained for longer and if you do start to think about the quest for greater pace you will have a much better start point.
In terms of the money I would definitely spend on the Tiv and save on the Proton- who cares what the daily smoker is like when you have a Tiv in the garage?
Also given the price of these cars now I would seriously suggest using the Tiv as the smoker anyway. By having one car you save on insurance, tax, servicing etc. Even if you drive 20k miles a year the fuel is only £1,400 more pa (£27 per week- or less than the depreciation on a modern let alone the other costs).
I think that there is a good chance that given the typical seasonal lull for such cars and (hopefully) the freeing up of the consumer credit markets in the next 12 months it is unlikely that we will see the cars this cheap again for some time. At the very least you will be buying at the bottom of the curve.
All this is on the basis that you are young (the one thing that you and I can be assured of is that in another few years the only certainty is that we won't be able to do any of this...) and that you have good prospects. I have had great cars and am completely debt free so it is possible.
If on the other hand you can't pay your dad back or will be lumbering yourself with debt that you can't see a way out of then be very careful!
Keeping the S3 and throwing money at it is one idea but I know from bitter experience that in terms of spending money on a car it is nearly as inefficient as burning it. £1000 for a respray? £300 on the value. £500 for a gearbox rebuild? £0 on the value!
A 400 Chim? Really why when the difference in price between the models is so small? Bear in mind that there is a huge difference in performance. The 500 has a power to weight ratio around 40% higher than a 400... Medium term you will start to get itchy feet and want to swop again which costs money
TBH at the present price I'd go for a 450 or a 500 and enjoy it. It will keep you entertained for longer and if you do start to think about the quest for greater pace you will have a much better start point.
In terms of the money I would definitely spend on the Tiv and save on the Proton- who cares what the daily smoker is like when you have a Tiv in the garage?
Also given the price of these cars now I would seriously suggest using the Tiv as the smoker anyway. By having one car you save on insurance, tax, servicing etc. Even if you drive 20k miles a year the fuel is only £1,400 more pa (£27 per week- or less than the depreciation on a modern let alone the other costs).
I think that there is a good chance that given the typical seasonal lull for such cars and (hopefully) the freeing up of the consumer credit markets in the next 12 months it is unlikely that we will see the cars this cheap again for some time. At the very least you will be buying at the bottom of the curve.
All this is on the basis that you are young (the one thing that you and I can be assured of is that in another few years the only certainty is that we won't be able to do any of this...) and that you have good prospects. I have had great cars and am completely debt free so it is possible.
If on the other hand you can't pay your dad back or will be lumbering yourself with debt that you can't see a way out of then be very careful!
MnS said:
Lukas, would you not rather be kind of young with no debt than lots of debt.... If you enjoy what you have keep it, make it mint, you will never be afraid to use it.......and the grass isn't always greener 
.
Very tempting. I just don't want to think 1/2 way through summer: 'I wish when I had the money, before I spent it on getting her to show condition, I had gone the extra mile and got something newer and faster...'.gifdy said:
Sell the S3 to your dad, continue to use it and spend the money on beer and girls.
Beer yes. Girls can wait, car comes first!George 500 said:
Sadly I am not as old and sensible as the others on this post so lets hurl a spanner in the works!
Keeping the S3 and throwing money at it is one idea but I know from bitter experience that in terms of spending money on a car it is nearly as inefficient as burning it. £1000 for a respray? £300 on the value. £500 for a gearbox rebuild? £0 on the value!
A 400 Chim? Really why when the difference in price between the models is so small? Bear in mind that there is a huge difference in performance. The 500 has a power to weight ratio around 40% higher than a 400... Medium term you will start to get itchy feet and want to swop again which costs money
TBH at the present price I'd go for a 450 or a 500 and enjoy it. It will keep you entertained for longer and if you do start to think about the quest for greater pace you will have a much better start point.
In terms of the money I would definitely spend on the Tiv and save on the Proton- who cares what the daily smoker is like when you have a Tiv in the garage?
Also given the price of these cars now I would seriously suggest using the Tiv as the smoker anyway. By having one car you save on insurance, tax, servicing etc. Even if you drive 20k miles a year the fuel is only £1,400 more pa (£27 per week- or less than the depreciation on a modern let alone the other costs).
I think that there is a good chance that given the typical seasonal lull for such cars and (hopefully) the freeing up of the consumer credit markets in the next 12 months it is unlikely that we will see the cars this cheap again for some time. At the very least you will be buying at the bottom of the curve.
All this is on the basis that you are young (the one thing that you and I can be assured of is that in another few years the only certainty is that we won't be able to do any of this...) and that you have good prospects. I have had great cars and am completely debt free so it is possible.
If on the other hand you can't pay your dad back or will be lumbering yourself with debt that you can't see a way out of then be very careful!
Yes very true, I keep thinking: 'Do it now! Before the wife, before the kids (before I need a buy a Cerby...) before I may not be able to afford later on in life, but can afford now and could keep a very long time!' That's the idea anyway. Keeping the S3 and throwing money at it is one idea but I know from bitter experience that in terms of spending money on a car it is nearly as inefficient as burning it. £1000 for a respray? £300 on the value. £500 for a gearbox rebuild? £0 on the value!
A 400 Chim? Really why when the difference in price between the models is so small? Bear in mind that there is a huge difference in performance. The 500 has a power to weight ratio around 40% higher than a 400... Medium term you will start to get itchy feet and want to swop again which costs money
TBH at the present price I'd go for a 450 or a 500 and enjoy it. It will keep you entertained for longer and if you do start to think about the quest for greater pace you will have a much better start point.
In terms of the money I would definitely spend on the Tiv and save on the Proton- who cares what the daily smoker is like when you have a Tiv in the garage?
Also given the price of these cars now I would seriously suggest using the Tiv as the smoker anyway. By having one car you save on insurance, tax, servicing etc. Even if you drive 20k miles a year the fuel is only £1,400 more pa (£27 per week- or less than the depreciation on a modern let alone the other costs).
I think that there is a good chance that given the typical seasonal lull for such cars and (hopefully) the freeing up of the consumer credit markets in the next 12 months it is unlikely that we will see the cars this cheap again for some time. At the very least you will be buying at the bottom of the curve.
All this is on the basis that you are young (the one thing that you and I can be assured of is that in another few years the only certainty is that we won't be able to do any of this...) and that you have good prospects. I have had great cars and am completely debt free so it is possible.
If on the other hand you can't pay your dad back or will be lumbering yourself with debt that you can't see a way out of then be very careful!
If I sell the S3, I'd have dads loan paid off by April/May if I spent about 8-9k...
Edited by The Lukas on Friday 20th February 13:54
If you are going to be pennyless as a result of this purchase then don't do it. The weather is crap at the moment so you're not missing out on anything by waiting a month. Try going the next 4 weeks without buying anything. And by 'anything' I mean anything. No clothes, CDs, DVD, nights out....Then see how you feel. I am not saying a TVR is a money pit (I've convinced myself of that), but you're going to find yourself with no savings at all and more debt. This will affect your lifestyle.
On the subject of a respray, that'll be 2 grand to you sir. I've asked loads of bodyshops and unless you want magnolia a proper job is going to cost.
And finally, put your savings into property if you haven't done so already. In a year's time when prices start going up again you'll find that buying the TVR will have really cost you a fortune as it will have deprived you of a bargain home.
On the subject of a respray, that'll be 2 grand to you sir. I've asked loads of bodyshops and unless you want magnolia a proper job is going to cost.
And finally, put your savings into property if you haven't done so already. In a year's time when prices start going up again you'll find that buying the TVR will have really cost you a fortune as it will have deprived you of a bargain home.
SonicHedgeHog said:
If you are going to be pennyless as a result of this purchase then don't do it. The weather is crap at the moment so you're not missing out on anything by waiting a month. Try going the next 4 weeks without buying anything. And by 'anything' I mean anything. No clothes, CDs, DVD, nights out....Then see how you feel. I am not saying a TVR is a money pit (I've convinced myself of that), but you're going to find yourself with no savings at all and more debt. This will affect your lifestyle.
On the subject of a respray, that'll be 2 grand to you sir. I've asked loads of bodyshops and unless you want magnolia a proper job is going to cost.
And finally, put your savings into property if you haven't done so already. In a year's time when prices start going up again you'll find that buying the TVR will have really cost you a fortune as it will have deprived you of a bargain home.
I will have spending money, I won't be pennyless. Stuff that, no car is worth being pennyless for a few months. Damnit 2k respray, that may be that out the window too. On the subject of a respray, that'll be 2 grand to you sir. I've asked loads of bodyshops and unless you want magnolia a proper job is going to cost.
And finally, put your savings into property if you haven't done so already. In a year's time when prices start going up again you'll find that buying the TVR will have really cost you a fortune as it will have deprived you of a bargain home.
Property? Worth a look but living at home saving my money at the moment ain't a bad thing.
rev-erend said:
Option 1)
Live the life others only dream about.
You are only young once.
Exactly. But Sonic has a point. Live the life others only dream about.
You are only young once.
SonicHedgeHog said:
And finally, put your savings into property if you haven't done so already. In a year's time when prices start going up again you'll find that buying the TVR will have really cost you a fortune as it will have deprived you of a bargain home.
Err?? History would appear to disagree with you. Preceeding crashes have taken a significant quantity of time to reverse and until all of those who are on fixed rates have come out there can be no certainty. Finally if unemployment continues to rise (at the same time as mortgages becoming more expensive) there will be a further depressing affect on property valueThe very concept of property perpetually rising is a 20th century phenomoneon anyway and besides property can only increase in line with salaries (we have to be able to afford it). Hence the correction NEEDS to be made to bring things back into line. This is therefore a return to where proprty prices SHOULD be and NOT a fall from the true value.
Finally we have constructed the most unbelievable quantity of housing over the last ten years. People carp on about a shortage of supply but why is it that in a time when people can't buy there is no sky rocketing in rental income? There are entire appartment blocks in Surrey Quays and the city centre of Leeds (to name but two) with sub 50% occupancy levels.
So fella the obvious and sensible thing to do would actually be to invest money in oil company shares as they are depressed at the moment due to the low price of crude. This will correct itself as the one certainty that we do have is that there is an increasing demand for a resource with a diminishing supply. Stock markets tend to rebound sooner and they pay you a tidy dividend at the same time.
No scratch that what you should do is go and buy a Tiv!
Edited by George 500 on Friday 20th February 16:00
George 500 said:
SonicHedgeHog said:
And finally, put your savings into property if you haven't done so already. In a year's time when prices start going up again you'll find that buying the TVR will have really cost you a fortune as it will have deprived you of a bargain home.
Err?? History would appear to disagree with you. Preceeding crashes have taken a significant quantity of time to reverse and until all of those who are on fixed rates have come out there can be no certainty. Finally if unemployment continues to rise (at the same time as mortgages becoming more expensive) there will be a further depressing affect on property valueThe very concept of property perpetually rising is a 20th century phenomoneon anyway and besides property can only increase in line with salaries (we have to be able to afford it). Hence the correction NEEDS to be made to bring things back into line. This is therefore a return to where proprty prices SHOULD be and NOT a fall from the true value.
Finally we have constructed the most unbelievable quantity of housing over the last ten years. People carp on about a shortage of supply but why is it that in a time when people can't buy there is no sky rocketing in rental income? There are entire appartment blocks in Surrey Quays and the city centre of Leeds (to name but two) with sub 50% occupancy levels.
So fella the obvious and sensible thing to do would actually be to invest money in oil company shares as they are depressed at the moment due to the low price of crude. This will correct itself as the one certainty that we do have is that there is an increasing demand for a resource with a diminishing supply. Stock markets tend to rebound sooner and they pay you a tidy dividend at the same time.
No scratch that what you should do is go and buy a Tiv!
Edited by George 500 on Friday 20th February 16:00
One tip I was given with regard to share dealing is never try and predict the bottom of the market. Look at the value of the share/commodity/whatever and buy it on the basis of it's value. At the moment houses look good value and that is where my money would be going in this case.
One final thought from me before I am banned from PH for being too boring. To the OP, don't get overwhelmed by the "you only live once" brigade. While that statement is true it should not be used as an excuse for stupid decisions. If you desperately want this car and can afford it then go for it. But if you just have itchy feet and/or like changing your car regularly then you're probably going to have the same sense of needing a change relatively soon after you get used to the TVR. The only difference will be your bank account will be empty.
Hope that helps to keep your feet on the ground.
I'm more than happy with my S3.
Just fancy something a bit faster and a better ride. It also depends how much I can get for it. Both of you have valid and true opinions, property is certainly something to look at but by the time I'll be able to spend this kind of money on a car again, I would be about 50.
But I still ain't decide to save my life.
Just fancy something a bit faster and a better ride. It also depends how much I can get for it. Both of you have valid and true opinions, property is certainly something to look at but by the time I'll be able to spend this kind of money on a car again, I would be about 50.
But I still ain't decide to save my life.
rev-erend said:
You are only young once.
......but you can be immature forever. When you are older what would you rather have regrets about - the things you did do or the things you didn't do, ....does that make sense????
. Do whats feels right now, don't get older and think i wish i'd done that . But then again once you've sold the S .......i haven't helped any have i 
MnS said:
rev-erend said:
You are only young once.
......but you can be immature forever. When you are older what would you rather have regrets about - the things you did do or the things you didn't do, ....does that make sense????
. Do whats feels right now, don't get older and think i wish i'd done that . But then again once you've sold the S .......i haven't helped any have i ) since. That's despite marriage, children and everything that brings. You don't get to practice life, live it. Wouldn't buy a Chim tho....
Edited by Englishman on Friday 20th February 22:02
Go on then....one more opinion from me. To the OP again....everyone's personal circumstances are different. Just because people are telling you it can be done because they have done it does not mean it is right for you. For all I know some of the posters could be living in corrugated iron sheds next to the coal mine where they send their children to work as soon as they can crawl. You might have a different view of sports car ownership.
One thing that has perhaps been forgotten is you could decide on the middle ground option. Buy the car today, make sure it is a good one and not just one that fits your budget and then sell it at the end of the summer. That might not be as easy as it sounds given how much some people fall in love with these cars, but it will allow you to scratch that itch and buy the house I think you should buy.
One thing that has perhaps been forgotten is you could decide on the middle ground option. Buy the car today, make sure it is a good one and not just one that fits your budget and then sell it at the end of the summer. That might not be as easy as it sounds given how much some people fall in love with these cars, but it will allow you to scratch that itch and buy the house I think you should buy.
keep the s3 and save for a house, then think about what u want parked in the drive!
I know exactly how u feel I'm 23 and always loved cars and always looking for something new, drive's me crazy lol, currenty have a e46 M3 (boring)
But I bought my house before the car! Best thing I ever did!
I hate having to save to, but now I'm saving untill Xmas for a sagaris!
P.s not daddys money before anyone says anything! Lol (not that you would of course)
Started my own company at 18.
I know exactly how u feel I'm 23 and always loved cars and always looking for something new, drive's me crazy lol, currenty have a e46 M3 (boring)
But I bought my house before the car! Best thing I ever did!
I hate having to save to, but now I'm saving untill Xmas for a sagaris!
P.s not daddys money before anyone says anything! Lol (not that you would of course)
Started my own company at 18.
The best 500 money can buy could cost you more than £15k. Personally I would orientate yourself more towards looking for one that has the best balance of being in good visual and mechinical nick whilst being used very often. Don't go for a low miler unless it has been put back in action and used a fair bit recently
Blown2CV said:
The best 500 money can buy could cost you more than £15k. Personally I would orientate yourself more towards looking for one that has the best balance of being in good visual and mechinical nick whilst being used very often. Don't go for a low miler unless it has been put back in action and used a fair bit recently
Eh? There are some absolute corkers and I went to look at a '95 Taraka before xmas (in very tidy nick and with only 55k-ish miles) that eventually sold for £8.4kSonic- we can agree to differ on this one. Perhaps in a few years time I shall be weeping into my whisky but lets wait and see... If any of us knew that the 9-5 would probably become rather less necessary or significantly more remunerative!
To the Op I have a serious point... Don't for God's sake buy a house before you decide which female is going to spend you money... You know it will only be wrong anyway
!Gassing Station | General TVR Stuff & Gossip | Top of Page | What's New | My Stuff