Replacement car

[Angelus666]

Buying in cash is the cheapest way to buy the car, unless you can use the £32k for an investment that will generate you £600 a month return and then it's a free car.

 

[mr wilks]

Buying in cash is the cheapest way to buy the car, unless you can use the £32k for an investment that will generate you £600 a month return and then it's a free car.

Lets be realistic investing £32k to return £7k pa is worthy of a BBC Watchdog 60min special only the guys on the phone from Nigeria can offer those kind of numbers

 

[bazzab]

Buying in cash is the cheapest way to buy the car, unless you can use the £32k for an investment that will generate you £600 a month return and then it's a free car.

Lets be realistic investing £32k to return £7k pa is worthy of a BBC Watchdog 60min special only the guys on the phone from Nigeria can offer those kind of numbers

Just had a phone call about a car for sale, looks to be a bargain, he’s asked if he can send it to me as he’s working away on an oil rig

 

[mr wilks]

Buying in cash is the cheapest way to buy the car, unless you can use the £32k for an investment that will generate you £600 a month return and then it's a free car.

Lets be realistic investing £32k to return £7k pa is worthy of a BBC Watchdog 60min special only the guys on the phone from Nigeria can offer those kind of numbers

Just had a phone call about a car for sale, looks to be a bargain, he’s asked if he can send it to me as he’s working away on an oil rig

 

[john-e89]

Buying in cash is the cheapest way to buy the car, unless you can use the £32k for an investment that will generate you £600 a month return and then it's a free car.

Don’t forget the other 100k needed on top of that to buy the rental house....kinda important you know..... :lol:

 

[Angelus666]

It’s very realistic to use that £32k as a deposit on a rental property, with a £150k mortgage on an interest only option that’ll return you £600 a month after the mortgage payment. Not sure what’s confusing about that?

 

[Mr Tidy]

Don’t forget the other 100k needed on top of that to buy the rental house....kinda important you know.....

You must inhabit a different part of the world to me John.

Last time I bought a house in SE England for less than £100K was in 1996! There is a 1 bedroom end of terrace on my estate listed at £235K. :roll:

 

[bazzab]

John-e89, surprised you voted for Bmw, didn’t you have a 718 boxster?
Might be confusing you with another member though.

 

[john-e89]

It’s very realistic to use that £32k as a deposit on a rental property, with a £150k mortgage on an interest only option that’ll return you £600 a month after the mortgage payment. Not sure what’s confusing about that?

175k house bringing in £900pcm sounds a little optimistic to me. Add in non rented months which you will get from time to time, repairs, plus agents fees unless you’re dealing with it all yourself...all adds up, I wouldn’t be putting any stock in seeing a regular £600pcm on that tbh. Anyway £32k is a nice deposit, I was being little tongue in cheek.

 

[bazzab]

It’s very realistic to use that £32k as a deposit on a rental property, with a £150k mortgage on an interest only option that’ll return you £600 a month after the mortgage payment. Not sure what’s confusing about that?

175k house bringing in £900pcm sounds a little optimistic to me. Add in non rented months which you will get from time to time, repairs, plus agents fees unless you’re dealing with it all yourself...all adds up, I wouldn’t be putting any stock in seeing a regular £600pcm on that tbh. Anyway £32k is a nice deposit, I was being little tongue in cheek.

You little scamp you
Tbf the money could be put to better use but you only live once.
Just hope I get to drive it

 

[john-e89]

John-e89, surprised you voted for Bmw, didn’t you have a 718 boxster?
Might be confusing you with another member though.

It’s because I had a 718 that I voted for the beemer bazzab.....! :lol: I didn’t get on with the engine....I draw the line at having a 1956 Massy Ferguson tractor sound eminating from the back of a convertible... :roll:

Voted for the Zed over the Jag pretty much purely for the boot space, just not big enough to be practical is all.

 

[Angelus666]

Of course there are variables that might come about, but the point is valid though...you can easily invest that £32k and use the return to pay for that M40i...very do-able!

 

[john-e89]

Of course there are variables that might come about, but the point is valid though...you can easily invest that £32k and use the return to pay for that M40i...very do-able!

Easily is not the right word when it comes to buying and renting houses, not the right word atall..! However if you’re brave and stupid yes it’s income, but £600 pcm on those figures is folly, and if you expect to sit back and let it roll in on easy street you’re very very deluded. I don’t mean you personally, I mean in general. Tread carefully.

 

[bazzab]

Of course there are variables that might come about, but the point is valid though...you can easily invest that £32k and use the return to pay for that M40i...very do-able!

I agree with you angelus666
Right now though she’s never had any real savings up until this point and since going self employed over the last couple of years she’s finally seen some fruition from her hard work.
I don’t begrudge her spending the money but personally I’d have done something different.
No joy in banks or isa’s, and I think after selling her old e89 to invest in the business it’s kicked off well for her so to treat herself is fine with me.

Looking like the Porsche is still out in front, thinking about it I can vote as well seeing as it’s not going to be mine

 

[john-e89]

Don’t forget the other 100k needed on top of that to buy the rental house....kinda important you know.....

You must inhabit a different part of the world to me John.

Last time I bought a house in SE England for less than £100K was in 1996! There is a 1 bedroom end of terrace on my estate listed at £235K. :roll:

I do Mr Tidy yes..! The days of buying low and selling high after a refurb are few and far between now, but you can still pick up some worthy properties if you get in damn quick! A 2 bed terrace in need of some work here for 80k do pop up, but there are a lot of factors which make an initial easy sounding buck soon turn into nope, doesn’t stack up.

 

[Angelus666]

Of course there are variables that might come about, but the point is valid though...you can easily invest that £32k and use the return to pay for that M40i...very do-able!

Easily is not the right word when it comes to buying and renting houses, not the right word atall..! However if you’re brave and stupid yes it’s income, but £600 pcm on those figures is folly, and if you expect to sit back and let it roll in on easy street you’re very very deluded. I don’t mean you personally, I mean in general. Tread carefully.

Nothing is easy in life, but I’ve bought and rented houses for 20 years and all things considered it’s the easiest money I’ve earned over the years. Given the current economic situation that £32k in cash will put you in a huge position to move quickly on a good 2 bed place, with a 2% interest only mortgage you’ll return £600 a month and get some capital return out the other end. There will be a lot of inventory dumped quickly, so for those who can move quick there will be bargains to be had.

With that as a viable option, you’d have to be bonkers to put all that cash into one of those cars right now IMO. The old Warren Buffet quote, when everyone around you is fearful, that is the time to be bold!

 

[john-e89]

Of course there are variables that might come about, but the point is valid though...you can easily invest that £32k and use the return to pay for that M40i...very do-able!

Easily is not the right word when it comes to buying and renting houses, not the right word atall..! However if you’re brave and stupid yes it’s income, but £600 pcm on those figures is folly, and if you expect to sit back and let it roll in on easy street you’re very very deluded. I don’t mean you personally, I mean in general. Tread carefully.

Nothing is easy in life, but I’ve bought and rented houses for 20 years and all things considered it’s the easiest money I’ve earned over the years. Given the current economic situation that £32k in cash will put you in a huge position to move quickly on a good 2 bed place, with a 2% interest only mortgage you’ll return £600 a month and get some capital return out the other end. There will be a lot of inventory dumped quickly, so for those who can move quick there will be bargains to be had.

With that as a viable option, you’d have to be bonkers to put all that cash into one of those cars right now IMO. The old Warren Buffet quote, when everyone around you is fearful, that is the time to be bold!

Like I said if you’re brave....two of mine fit the criteria here perfectly, 140k Interest only between them sees £635pcm, however that’s before insurance, repairs that I do myself, no agents fees, time empty, which is good for me but unfortunately is rare as people can’t get the deposit needed to buy, but when I’ve factored in the initial refurb expenditure and ongoing costs I wont see that £635 for a while yet. Anyway it’s still the place to put money but if there was anything else to put it in I would..!

 

[john-e89]

Not sure we are usually privvy to seeing how we vote but at least the right choice is out front

See that silly metal curved thing over thar heed..that don’t let no sunshine in that don’t.....

 

[Argyll Andy]

Of course there are variables that might come about, but the point is valid though...you can easily invest that £32k and use the return to pay for that M40i...very do-able!

Easily is not the right word when it comes to buying and renting houses, not the right word atall..! However if you’re brave and stupid yes it’s income, but £600 pcm on those figures is folly, and if you expect to sit back and let it roll in on easy street you’re very very deluded. I don’t mean you personally, I mean in general. Tread carefully.

I had 4 buy to lets until recently - most definitely not easy. There wouldn’t be any income because the income is going to pay the repayments on the circa £150k you borrowed.

In 12 years for all 4 I don’t think I broke £10k profit before tax in that whole time. That was almost no vacant periods - longest was 4 weeks. Would never do again even if I could buy the properties outright.

By a new car with the money, enjoy and take the financial hit

 

[john-e89]

Of course there are variables that might come about, but the point is valid though...you can easily invest that £32k and use the return to pay for that M40i...very do-able!

Easily is not the right word when it comes to buying and renting houses, not the right word atall..! However if you’re brave and stupid yes it’s income, but £600 pcm on those figures is folly, and if you expect to sit back and let it roll in on easy street you’re very very deluded. I don’t mean you personally, I mean in general. Tread carefully.

I had 4 buy to lets until recently - most definitely not easy. There wouldn’t be any income because the income is going to pay the repayments on the circa £150k you borrowed.

In 12 years for all 4 I don’t think I broke £10k profit before tax in that whole time. That was almost no vacant periods - longest was 4 weeks. Would never do again even if I could buy the properties outright.

By a new car with the money, enjoy and take the financial hit

True enough indeed Andy but just in this case were talking about interest only mortgages.