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  • Property-a-holics

    Car or house ? Hmmmmmm

    Keep thinking about getting a car. The car i want will cost me around 28 k . My dilema is that that is quite a bit of cash and could go towards a deposit on a buy to let or a part payment if i buy property in cash.

    I could buy car on finance ? Never done that before always bought them outright as APR is usually quite high.

    If i buy car cash it will slow down future aquisitions . Hmmm

    If i finance car it will be high APR  Hmmmm

    Should i buy another property  and use as a vehicle to pay finance on new car . Hmmmmm

    What have you done ?

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    Cars via contract leasing ( like mobile phone contracts) have become firmly established in the modern psyche as the way to go - as you get the latest product in an affordable manner - subject to usual credit checks etc.

    Whether such things make sense for an individual in longer term depends on individual circs and personal aims.

    Anyone who aims to acquire another property but uses the money to buy a new car is an idiot - unless they are say a millionaire and able to buy both via click of a mouse.

    We could debate whether now is a good time to increase a portfolio and there are differing views on former PT threads.

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    Car Finance is "bad debt".

    Buy a car for 2 grand and invest the other 26k !!

    Delay gratification.

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    How long do you delay gratification for ? I keep delaying it and buying houses . Cashflow is good  hence thinking bout finance . Its a strange 1

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    Delay until your business grows to a stage where one month's net profit will buy the car outright, then fill your boots!

    There you go,  I've set you a challenge!

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    Buy the car mate ...

    dont buy it out right , put a deposit down between 25 / 50 % max and look at Sainsbury’s for a personal loan or lombards a specialist finance company who I have just used myself with an interest rate of 4.3% .

    I was in a similar delema myself as always put the property first as it too gives me a buzz and extra income which is important especially if you want to buy a car !

    2018 for me was a slow starter in property but towards the end I secured 2 properties at auction within a few weeks of each other so therefore have decided to buy a Porsche a 991 which I gave plenty of thought to just like you ,but by putting a sizeable sum down the monthly payments are not a problem .

    fimally I would like to add that an old school friend of mine passed away earlier in the year with a terrible illness and another friend had a serious potential life threatening issue therefore life Is short so go for it and get the car ...

    all the best with the car and your property for 2019 ??

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    I would agree but if you delay gratification until after your death then what is the point . I believe that providing sufficient capital to your children is important but only if they know how to handle it and respect it - in my case my capital will go into a discretionary trust and funds advanced to my children will depend on how focused and hard working they are

    i would acquire the car putting as little as you can into the deal . The monthly payments being a reminder to keep working and also a reality check on what a car is costing

    if you don’t enjoy some of the fruits of your labour it may demotivate you in the long run

    £26k is not an obscene amount to spend on a car



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    My kids get nothing, when I retire, I'm spending the proceeds on Guinness and Whiskey!

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    On a serious note,  I'm not suggesting delay gratification for ever, I certainly don't drive a 12 year old Golf !

    We don't know the OP's circumstances, so none of us can really advise.

    If they already own 100 houses and doesn't take them long to make 28k, then sure, buy the car, if they are just starting out in life and not yet high net worth , then delay gratification and invest.

    It depends it depends it depends!!!


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    The success of a business based more on the decisions or the idea. I totally agree with your points. 

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    Don’t buy the car. Buy it from the income from a btl even then buy an 10 year old Maserati a car is only new for one minute. Btl will go until after you die.

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