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Cars aren't all the same. Some are more comfortable to drive than others, which matters on long journeys. I have only had three cars I have found comfortable. The first was a Ford Puma (the original one) but they did not make them for very long. The second was the first MX-5 I got. But then I hurt my leg and getting stuck in traffic jams would aggrevate my knee. So now I have another one but this time an automatic. It is also comfortable.
This was by far the most expensive car I have ever bought, but was still well under £20k. I hope to keep it for at least the 12 years I had the previous one. I am wealthier than most people but not in the top 1%. Still have more than enough to live on so a nice car that at times can be fun to drive is worth it. (The most fun comes when the weather allows me to lower the top - so only a few days each year).
I used to love cars but my love for them has all but disappeared with the congestion on the roads.
I can not bring myself to spend money on a car now and I know I could afford pretty much any.
My favurite vehicle is a 1991 Pajero 2.5 Super Exceed LWB which is pretty immaculate and really stands out. I do keep it gleaming. I bought it for £700 4 years ago and it is very very comfortable and solid and virtually unmarked.
My wife drives an 03 Golf gti 180 which I bought 3 years ago for £500 and she has done 15000 miles in and loved. It is very tidy and we are only the 2nd owners.
I have a 20 year old modified Jaguar XJR which is too fast for the roads and I now keep garaged. This was the last expensive car I bought 12 years ago. It is currently sorn and the engine has only covered 15000 miles.
I have a 28 year old Porsche 944 S2 cabrio which is now also garaged and increasing in value. I just can't be bothered to drive them.
This year I have put 13000 miles on my 18 year old transit looking after my properties. I love this vehicle. I look as rough as anything in it though and the minute I pull up anywhere I get discount!
I just can't comprehend the sort of money people talk about spending on cars here. Why? I wish I could see the enjoyment in them again but I am surrounded by average speed cameras and all my vehicles do 50mph just the same as Ferraris, Aston Martins etc.
Flashy cars really are the last pretence. They could not be less fit for their real purpose.
If you are looking to enrich your life, perhaps buy a motorhome and then you can rent it out as Air BnB static accommodation when you are not using it? You can buy a decent motorhome for £25 to £35K and rent it out for £40 to £60 per night. Better returns than BTL ... but you need to have somewhere on your premises to park it. People like the novelty of staying in a motorhome, which is self-contained accommodation where they can come and go without disturbing the home owner.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Yes, we are aware of that. It's only for new motorhomes and is not retrospective. It will affect the new motorhome sales, but it may actually boost the second hand market.BTW - we would never buy a new motorhome anyway - the second hand, low mileage ones are a much better buy and depreciate far less.Please sign the petition against this new motorhome tax
Readers of this thread might be interested in these two archive discussions:The Problem with Delayed Gratification Future landlord ... frugal landlord?
Cars are expensive no matter which way you look at it. IMO if you want something new then PCH is the way forward.
Lease - £300/mth. Brand new car, no servicing, get a new car every 2 years.
Used - £230/mth in Depreciation/Servicing/MOT/Tax/Opportunity Cost. Loads of cash tied up.
I just gave back my leased Audi and bought a cheapish Porsche instead which I love. It's not too old, looks pretty cool and I'm happy to run it into the ground. I'm expecting it to cost me £250/mth which I'm more than happy to pay.