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Post by uncletone on Oct 30, 2015 11:56:08 GMT
My car related claim to fame: two years ago I replaced a ten year old Yaris with a two year old car much more fitting to the inheritance the child bride graciously shared with me.
It was quite a bit later I realised it had cost £45 more than the four bedroomed semi we live in! Mind you, the two purchases were separated by 36 years....
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pom
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Post by pom on Oct 30, 2015 12:02:38 GMT
Well it's a new strategy for us, and kinda accidental (had other money priorities for quite a while) but having somewhere got the impression over the years that after a few years cars start costing huge amounts to keep going and get thru MOTs we were pleasantly surprised to discover that it simply isn't the case any more.
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pom
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Post by pom on Oct 30, 2015 12:03:59 GMT
Something tells me that those of us on this thread aren't typical consumers....and that if the rest of the country were like us the car industry would be in big trouble....
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Oct 30, 2015 12:43:31 GMT
Something tells me that those of us on this thread aren't typical consumers....and that if the rest of the country were like us the car industry would be in big trouble.... I suspect the typical customer uses finance deals, HP or credit cards to purchase a new car. They get spanked on the depreciation, spanked on the borrowing costs, and if they fail to meet the repayments it's another spanking.
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Post by bracknellboy on Oct 30, 2015 12:46:07 GMT
Buy and hold is a strategy I apply to cars and to P2P (though I am less likely to break my 'strategy' in respect to cars by doing a quick fire sale becausae of a bad credit event than I am with my P2p assets).
I have to fess up that I have bought one new car in my life: though that was a 'grey import' from europe in the days when it made some sense to do that. I had that for about 5 1/2 years. My replacement was a 'nearly new' i.e. ex demo vehicle at a considerable discount to new price. I had that for more than 7 years (and about 115k on the clock). My current one was acquired @ 15 months old and low mileage.
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jonno
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nil satis nisi optimum
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Post by jonno on Oct 30, 2015 12:56:33 GMT
Something tells me that those of us on this thread aren't typical consumers....and that if the rest of the country were like us the car industry would be in big trouble.... I suspect the typical customer uses finance deals, HP or credit cards to purchase a new car. They get spanked on the depreciation, spanked on the borrowing costs, and if they fail to meet the repayments it's another spanking. Oooooh ding dong! Think I might try it
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Oct 30, 2015 13:00:27 GMT
I suspect the typical customer uses finance deals, HP or credit cards to purchase a new car. They get spanked on the depreciation, spanked on the borrowing costs, and if they fail to meet the repayments it's another spanking. Oooooh ding dong! Think I might try it jonno - BEHAVE
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paulgul
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Post by paulgul on Oct 30, 2015 13:19:15 GMT
(is there a way to quote from multiple posts in a single one? If there is I don't know it so will be back in a sec.....) Easiest way is go to the first post you want to quote, hit <quote> then change to <BBCode> view and copy the coded version of the quote. Hit back in the browser, hit <quote> on the second post, change to <BBCode> view, and paste in the coded quote from the first post either above or below the second coded quote. Make sure there are a few blank lines between them, then hit <Preview> to switch back to the WYSIWYG editor. Simples If that's the easy way could you now explain the complicated way
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woodie
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Post by woodie on Oct 30, 2015 13:32:27 GMT
I don't need any facts and figures reassuring me about the viability of these loans: they are already clear enough for me. What I need is a 50% LTV maximum. I have invested in both supercars and will continue to do so but at 70% LTV I consider it high risk and am frustratingly having to invest cautiously, whereas I would rather throw £thousands at them. I think the high LTV is the crucial factor here
I agree, although I'm investing in both I would be much happier with a LTV of 50% but I suppose with lending to the same business it doesn't make much ( if anything ) difference.
Anyway I've just come in from the garage after spending 2 hours trying to get a bolt undone on my 41 year old car, and I find all this talk of supercars very depressing
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Post by pepperpot on Oct 30, 2015 13:47:26 GMT
Easiest way is go to the first post you want to quote, hit <quote> then change to <BBCode> view and copy the coded version of the quote. Hit back in the browser, hit <quote> on the second post, change to <BBCode> view, and paste in the coded quote from the first post either above or below the second coded quote. Make sure there are a few blank lines between them, then hit <Preview> to switch back to the WYSIWYG editor. Simples If that's the easy way could you now explain the complicated way The complicated way is to 'select post' from the drop down cog menu on the posts you want to include. Going the BBcode route is useful to shuffle the order of the quotes, but it's somewhat long winded.
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ablender
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Post by ablender on Oct 30, 2015 14:01:24 GMT
The real fools in this business are those who buy "normal" cars fresh off the production line. (with apologies to anyone who always insists on buying brand new). Might as well park your bank account over a drain and open up the taps. . . . I just inherited a whole bunch of cash of which I've spent very little . . . If you need any help with this, just give me a shout.
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Post by Deleted on Oct 30, 2015 14:29:21 GMT
Bought a Renault brand new for less than I thought you could buy a car (shows how out of touch I am) included four years annual service (and breakdown) in the deal and since I ride a bicycle to most places only manage to get 8k on it a year (which is mainly wine buying in Europe). Makes the wine pretty expensive but what the heck. Live a little I say. A bit worried that a car can enhance your social standing. I'd have thought some councelling might help...and would be cheaper.
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stevio
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Post by stevio on Oct 30, 2015 15:16:00 GMT
Can you can tell its Friday by the way everyone is digressing?
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james
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Post by james on Oct 30, 2015 18:15:12 GMT
My only question is - what is the purpose of these funds for the borrower? Presumably going out and buying more supercars and advertising them for sale? Are they using this cash as a rapid way to expand their overall stock and grow the business? One of the things that the business is doing is building a new showroom specifically for their needs. I don't know how much of the loan money is for this purpose but it may well be a lot of it if that project has not yet been completed.
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paulgul
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Post by paulgul on Nov 3, 2015 18:06:38 GMT
Morning, Having just got back into the office this morning from my recent UK tour, I will be sending an email out later today to investors to give a quick update on Supercars & Property, however will just make a couple of notes here regarding supercars in advance. Kind regards, Ed Did this email get sent out, I can't remember seeing it, the last email I can find is regarding the new partner (BPF). If anyone has a copy perhaps they could post it here - if contents permit
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