Would you spend £150K on a car?
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- Опубліковано 2 лип 2024
- Now that I'm getting close to being able to buy my next dream car, I'm starting to wonder if I actually want to spend that much money on it...
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My drifting channel: / chrisdriftvideo
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I personally don't think you should spend that much on a car unless you have millions in the bank and live in a mansion. If 150 is your life savings then that probably wouldn't be too wise.
Bang on.
In my area supercars are common and most supercar owners are making 5-10 times the country's average salary just off interest alone.
Yeah that's kind of how I'm seeing it now
It's a tough decision. Obviously we would love to see you in a 458 but only buy it if you think you can afford it in the long run. Keep in mind 155K is just the start, servicing costs will be much bigger than the R8.
Yeah I forgot to even mention that. Plus if I'd spent that much money on it, I wouldn't be taking it on track days as often and thrashing it around as much as I do in the R8
DedicationBlog that's true to. It would be great to see you in a 458 but obviously money is the issue. What about an F430? Still a great car and costs less, or is it a 458 or nothing?
I'd prefer to buy a few cars instead of one supercar.
thats just stupid he already has a m4 and a gt86 so wtf?
statesidesupercars agreed
I think he was just answering the question in the title:')
Yeah I get that, but like CarPassion said I do already have multiple cars so I'm only really talking about what I'd replace the R8 with as one single car
Buy an r34 gtr a rare one for 80 grand watch it just go up in money
I completely agree with you Chris. You genuinely come across like a down to earth bloke, and its all relative. Never commented on the UA-cams but felt like replying to your vid. Keep enjoying the cars that you enjoy. I agree that people spending £200k+ on a supercar probably have a fair safety net on top.
Seen Through Glass appears to have gotten himself in a problem, he thinks he needs a better car but I don't know about you but he doesn't appear he can actually afford it. It is tempting to do what the comments say but end of the day it's your money, honestly I prefer the R8 to the 458.
S Miller Totally agree I wouldn't even consider a 458 endless I was a millionaire. Then I probably still wouldn't get one
I agree... STG is in a bind and is giving into the pressure of the guys he films with. I thought initially he had another job other than YT but if he's relying solely on adsense then i guess he has to keep it fresh and change it up.
chuckbassification Honestly he must have a decent outside job to even be able to afford the Jag and I don't think he is the type to live off his parents either.
he plans on financing his latest car which is somewhat stupid, I bet his abarth is on finance as well.
The boy likes his cars Nothing wrong with finance tbh, I wouldn't want to sign myself up to something like that but each to their own
I'm a young business owner myself and I have to say I really can't understand why you are paying cash? You're taking all that money out your business in one go? Paying tax on it all at higher rate in one year? Seems crazy. Why not just finance it on pcp, pay minimal deposit, and keep your capital in the business untaxed (after corporation tax of course) With a car like the 458 you won't even lose that much in depreciation and should come out with positive equity at the end of it.
Honestly people freak out about debt and I guess I can understand that if you are on a salary, but the way you seem to be paying for your cars makes zero sense to me.
Really appreciate your great vids and down to earth attitude btw
Buy houses, its a much better investment. You can easily make at least £20k a year from a small amount of houses. Plus its something that will always hold some kind of similar value, or even go up.
houses aren't quite as profitable as people make out. I bought 2 houses that I rent out, and judging by the profit I make on them I'd need to buy 10 or 11 houses to be making 20 grand a year. Buying 10 or 11 houses requires a hell of a lot of money even with minimum deposits. If I had enough money to buy 10 houses I don't think 20 grand a year would make much difference to me
We currently have 6, we make about £400 profit per house/per month. I guess it depends on the area you're in. However, they all have reasonably small mortgages on them, with repayments of like £160 at most.
Yeah like you say that's with big deposits and small mortgages. But to buy 6 houses with small mortgages I'd need like 300 grand...
I guess so, ours are just things that my parents have bought to pass down to us, so if you want kids it kinda makes sense. You could always go into the whole "Buy -> renovate -> sell" but that takes up a lot of time and can be super costly if you dont know what you're looking for when buying, or the best prices for the area. You could always put it towards renting out some kind of commercial area, depending on your credit, you could get a few £££k more and then look into buy to develop land. I know that a lot of people who we are close with need land for their business (warehouses, offices) and just can't find any.
But, cars are much more fun :D
You make pretty much nothing selling cars. Unless you're selling exotics but thats still a £300k investment and you make like £5k per car.
You've really conveyed the reality of potentially owning a supercar for somewhat of a regular person in this video. Really enjoy the realness of this channel, if that makes sense :)
You're so honest in this video and it's a nice difference to others on UA-cam. You obviously really appreciate any cars that you do buy/ own so do what you like!
Very down to earth - a lot of other youtubers don't give this realistic perspective. Sensible lad
You are definitely the most down to earth car UA-camr! I see your point with the other UA-camrs changing their cars every 6 months to a year, it is ludicrous, it should be up to the owner when they want to upgrade their car, not their viewers
I'd only buy one that wouldn''t depreciate anymore or even appreciate. I think that's the only 'smart' way of buying one.
I see what you're saying mate, and completely agree.
Just use your R8 as a deposit and finance the 120k. I'll use a 170k 458 for example.
R8 deposit = 50k? (low end)
5% interest on 120k = 126k (face it, you'll probably never misss that 6k anyway)
126k/24 = £5,250 per month
You'll still have all your money in your bank. If trouble comes, just sell the 458 and pay off the finance as it's currently appreciating so you'll probably cover the 5% interest anyway. Plus you'll get your deposit back as you used your R8 as your deposit anyway (only worst case scenario anyway).
Plus if you get one that's approved that has warranty etc, you'll not need to spend any money on repairing it like the R8 has needed recently.
If it's been your goal, just do it. You only live once so why not?
I probably sound ludicrous to you though so idk
This is why your channel is so good Chris. Real world views, from a down to earth guy. Just a suggestion, if you're "bored" of the R8 after having it for a few years, have you considered wrapping it, changing wheels, rear spoiler etc to renew your excitement for it?
I'd buy property with a bit more money and fund a finance plan with the rent income
I've already bought 2 properties to rent out. Personally I think most people seriously over estimate how much money you make off small numbers of rentals. You need A LOT of money to put in to buying houses, to get any kind of serious income from rentals each month. Want to make £20K a year from rental income? You're going to need to buy 9 or 10 houses, which means spending over £200K on mortgage deposits (obviously these numbers vary depending on the houses and locations etc but you get the idea).
DedicationBlog Houses on my road sell for 300k ish and rent out for 1600-2000, I assume you buy houses out of London as they naturally rent out alot cheaper
Yeah I live in Lincolnshire, so I'm buying houses round here not down south
DedicationBlog Whatever you do, keep us updated! :)
In your position I would just clear all debts (mortgage etc). It maybe isn't the optimal financial decision whilst rates are cheap etc but you can live happily in the knowledge that you own your house.
I agree with your thoughts not to buy the Ferrari but one point you didn't really mention (though I'm sure you have considered) is residuals/depreciation. A 458 may (or may not) hold its value well and so in the worst case (e.g. business goes bust) you could cash in your chips.
I've never owned a supercar but I have found that the more exotic/expensive cars are not necessarily more fun; fun is most important to me.
loving your work Chris. keep it real pal.
1. Pay off mortgage.
2. if you are still serious save again. if the business falls through (which is unlikely like you say) at least you own your house and cars and can figure out another method of earning to retain them.
Dull i know. but. sorry
Lots of people lease/finance supercars in America. Almost nobody ever pays in cash here
Yeah I just don't like the idea of it cos you don't really own the car so I wouldn't be able to do whatever I wanted with it. Plus you're just costing yourself even more money in interest over the long term
A pilot friend of mine who at one time had an F355 told me he needed to be able to afford at least two of them in order to comfortably purchase one, though I don't know if that pertained more to their engine-out services. I agree that 150k is a vast amount of money to spend on a car but if it is something you still want perhaps save up a bit more and see if the prices come down slightly. I wouldn't worry about some people labelling it 'a bit old' or 'a bit boring' anyone spouting that to you on youtube is just a troll whos likely driving around a Nissan Micra.
It just comes down to what you want to prioritise, I've got my eyes on a 430 scud in the not too distant future (a year or two rather than months mind). Best of luck with your decision and the drift car. Keep up the good videos.
i have always liked how realistic you guys are
"DowntoearthBlog"... and that's how you differentiate yourself from "the others" living in dreamland. This seems less about your next car and more about your personal circumstances. You're in limbo. IMO...
Keep the V10 'charged R8 (stupidly quick, already taken depreciation hit, oh and V10!!!). Keep the cash. Take 6 months living costs, double it and put to one side (rainy day fund). With the remaining cash (£130/140k?), take £10k a year and dedicate [ ;) ] that to travel/hols/experiences.
Do that for next couple of years. During that time your business will continue to provide an income (assuming all ok) at which point the supercar market will have progressed/developed and you'll have another two years of knowledge of the market, price fluctuations, future releases etc to ultimately make a better informed decision. Can Si's site help with forecasts/trends of supercar prices? Also, waiting increases likelihood of getting a "better" price on say what will then be (for example) a 1/2 year old 570s (this over 458 surely) or other car to be released AND combined with business income, you're cash pile will likely be > today. Thoughts welcome and GL...
TL;DR: Chris has almost enough money to buy 458 but not enough to be in a position of fuckyoumoney
I'll let all the other comments give the 'advice' but just have to say you have done very well for yourself mate 👍🏼
I can see you want it but can see you're smart enough to realise its not the best decision, not that it would be stupid to buy it but from a point of, you enjoy all your cars anyway and having the money there allows you to have piece of mind with any up coming costs that may occur.
Have you ever done a video on your full car history? If not it would be interesting to see!
I mentioned it in one of the QnA videos ages ago but yeah I guess could do a more detailed video on it
I have to say that I prefer watching your channel to other bigger channels because it's down to earth and because you are honest with the people who watch your videos. And I like that you have worked for your money and don't own it because of YT.
And my absolute favourite car is a manual R8 :D (but in blue and with the lights of the facelift model)
If you can't afford two, dont buy one. seems something I might aspire to. Personally for me I have no problem waiting for the perfect color/options for ME. I most likely wouldn't sell the car if I had it.
I think there are loads of cars both cheap and expensive that offer unique and fun driving experiences. One big hurdle would be storage for most and also what region you live in. I sure wouldnt want a supercar in Chicago...
I can certainly understand your point, and I agree dropping £150k on something if you aren't sue how things in the future will be is risky.
However I know most people (with the exception of multi millionaires) tend to invest in cars which are more likely to appreciate and finance them rather than buy cash, that way you don't spend all your cash but you can spread it out, and then after a couple of years you can sell the car again for either the same or sometimes more money to clear the finance.
Even in the absolute worst case scenario if it gets written off then that'd be an insurance case, but that's a risk with any car no matter what.
I'd seriously look into the finance deals available and look more into the future residual value you'd likely get back on a 458.
As an R8 fan, it's not worth it. But serious, just wait for the correct moment for YOU. If it doesn't feel 100% right, then don't. There will be a moment in the future you feel the need to upgrade.
This is the rules I use when I buy my cars
If you cant afford to buy and maintain 3 of them, then you cant afford it....
Yeah you're completely right with the thing about people becoming numb to how much things really are, only recently I've realised that shit costs fucking loads. Got a job and desperately wanting to get a new car, like desperately. The car I'm looking at is £11,989 and before I would have thought ha easy that's cheap, lol nope. It's going to take my 2+ years to get anywhere near close to that and I never would have thought that before, and in that time the car will be sold and a newer one will be available also the other cars available at the time will age and a decent used one will be possibly hard to find when I'm looking at buying. Plus that car has £2410 off the list price so it could be hard to get ahold of one with that deal.
I could take out a loan or finance the car however in the position I'm in I can't dropping everything I have on that one car especially if I'm going to be stuck for 2+ years paying it off just in case I need the money, plus insurance will rinse a fair bit of my money so I don't know where I would find that money on top of getting the car.
If I were you Chris I wouldn't drop £150k on a 458, there are other alternatives to a 458, like something new and up to date which could cost less than £150k. Maybe even a new R8 those are going for decent prices at the moment (I think) but a 458 seems a little pricey considering its age and performance just it could be a let down and that's not a risk I'd take especially at £150k.
Yeah its a bit of a shock when you sit down and work it out isn't it lol but don't forget you'll probably be getting paid more in a couple of years too (no idea what you do or how old you are, but generally your pay only goes up the more experience you get and longer you've been in a job). Of course you could just learn to write computer software and get rich overnight m8, cos that's how it works
DedicationBlog Very true, getting a rise in April to £8.50 an hour which should speed the process up but still frustrating that 12k is far out of reach. Yeah teach me to write that shit and I'll get that car in no time
You want to buy my beach buggy M8 £5000
I always love your logic on this channel. Owning an R8 and dogging it on trackdays etc is what we all dream about. I also have a funny thing with finance on cars, especially if its something you are using and abusing. I have a classic rally car that i run and can afford to run/fix/enter events. While it has a residual value, i would hate to be paying monthly for something that i regularly break and could potentially wrap it around a tree in a forest...
Hey Chris. Love your videos.
Coming from a fellow business owner and oddly enough R8 owner, I think you are viewing this the wrong way. I like to apply business logic to cars and my personal life (think P&L reports, balance sheets, cashflow). The actual cost of the car is it's depreciation plus running costs, over time. It isn't £150k. It is actually more like ~£5-10k/year as an estimate (depending on how soon it is resold, because the biggest hit is the loss in selling it on to a dealer).
I've been through the same thought processes myself and my conclusion is always following: Ultimately, if you're okay with the yearly cost as explained above, then unless it is going to cause cashflow issues (i.e. stop you buying something else, or stunt business growth), go for it!
To many of the other comments: there's more to life than investing and squeezing every penny. Gotta enjoy yourself.
Good content, reading through some of the comments you can tell who ignored your perspective of it all completely lol
Agree with you on this Chris. There is one thing just about buying a car and one thing buying it comfortably. I bought my house first then I bought the toys after I could afford the easily.
On another note I can relate to the fact that when you have something nice at a young age people say family or parents money. TBH I would have loved my parents to have bought everything for me. However the feeling once you achieved a huge goal in life and you worked for it is amazing.
Yeah definitely better in the long run to earn it yourself. But yeah I bought a house before buying the R8 (even though I was so tempted to do it the other way around)
458 is definitely worth the experience, just keep investing and growing your bank account till you can comfortably buy one
I get what ur sayin... I had the same on feeling on a much smaller scale when moving from a 350z to my gt86... I opted to take the plunge early, which I kind of regret as, there is loads more work I would like to do to the gt86, but instead I'm trying to save up my money again!
This video was great, been watching for ages and I remember you chatting about the 570s at first as a potential upgrade. I don't think if I was in your position I'd put 150k down on a depreciating asset, especially when you already have the M4 and GT86. I can't see a 458 really adding that much for you other than the initial short lived thrill of having a new toy. I also think the 458 is a bad choice it does look slightly dated already and it'll look much more so in 2/3 years
Hi Chris. You know we crave for new content even more on great channels like yours, but if that goes against your life aims, please, do what you feel it's best for you. By the way, I am a total petrolhead but far from a rich one, and I have one rule, only invest (spend) 1/3 of your money on cars. So if you have 30k of savings spend 10k and you are left with a good budget for anything that happens. Back to your case, there are so many cars and car related things you can do with that money that raise views and interest. Have a look at Mighty Car Mods videos. They don't spend crazy money but what they do to cars (and having cheap cars being improved and moded) will make the channel grow and give you new goals.
Keep us close with new 50-80k cars!
Nice to see that even though u have a bit more money than us ur still down to earth 👍🏻 and here where are you always driving too?? 😂 just for a vlog or are you actually going somewhere??
Respect for saying how you feel, I actually enjoyed this video more than some of your other content because of how relatable it was. Only you can really make the call, as we don't know the ins and outs of your financial situation and I'm sure you wouldn't want it spread all over the Internet. If I was you from what I've seen I'd pay your mortgage off then anything you earn can go towards living costs and hobbies. All the time you were saving did you always think you'd spend it on a supercar and when did the doubt cross your mind?
Totally agree with your logic. You need a caterham! Be cool to see you test drive an evora / exige v6, Chris.
I'm in a similar situation as well where I'm thinking of spending around £15k on a car and although I have around £15k in cash altogether I would never lump that all into the car. I would either wait till I had £20+k in the bank or fund £10k myself and loan £5k so I still had my £5k as contingency. Even so, it would still feel like a big leap from my current £2k fabia vrs which is a car I can leave anywhere because it goes unnoticed and I could buy another tomorrow if anything happens to it I've got the funds. However if anything happens to the £15k car I would be screwed. but then again you're only young once lol, so it's a tough one.
Personally, I'm with you, I feel the satisfaction you get from buying something outright is so greater than if you jump into it too hastily and finance or something like that, but the thing is, and what I would suggest is (as cheesy as it sounds) think about what makes you happiest, seeing the progress of your 86 and your other channel ChrisDrift it seems like you love doing that and doing the work yourself. As a business owner you take pride in your work and doing it yourself, so maybe an idea would be to use that money on a new project but something BIG, maybe not build it all yourself because of time and other things but I think you'd take more satisfaction from that and you'd feel as if it would be a better investment than dumping it all in one drop. Just an idea, sorry for the paragraph!! :')
it's that classic rule of thumb with cars where buying them tends to be the cheapest bit! When you consider the costs involved in running a Ferrari it's soon stacks up. Servicing/parts are going to be a lot more than the R8 and chances are it will be less reliable. Plus when you spend that much money on something it leaves you paranoid about what might happen to it when you leave it anywhere and you would be less likely to want to drive it hard. It has to be your hearts desire for it to make any sense and it seems to me that you don't love it enough to put that much money into it.
TBH chris you already have the luxury to own a super car like the r8 with a supercharger on it, as well as a daily drive m4 and a track car like the gt86, there is nothing wrong with that and spending even more money a car that is not even that much more special then a r8 that has over 700 hp seems like a waste i would just sit on that money and enjoy with what you got most people can only dream to own that you can ALWAYS in the future buy your next supercar be happy with the idea that you are able to get it and you choose not to thats the devenision of power!
Excellent point mate. 150K on a 458 is considerable. 150K on any car in the current bubble - i''ll let you be the judge of that.
I totally agree. As much as we would all love for you to get a Ferrari 458, I've always been taught that for crazy expensive things like a 458 is that I can't let myself buy one unless I can crash it and buy another the next day. i.e. If it costs £150K I better have £300K first.
Then thats when I've properly "earned it".
I probably would not… but having said that, it does make a difference if a car is an investment or not. Some cars, since you’ve mentioned Shmee, are limited production runs and in high demand, they increase in value almost immediately after they’re sold out. It will always be a gamble, but if it works out then it's the cheapest form of motoring. I could easily get over the whole idea of spending that much money if there was a business case for it, if you know what I mean.
Buy the right car at the right price, and it shouldn't really cost you much overall. Shouldn't. And some form of finance is probably the better option. Excited to see what you end up doing!
For the people that have the notion of "Ahh, you can afford it so just get it" have 0 idea of actually making and saving money. For a successful regular person like yourself, putting all your savings into an asset of such volatility (can be crashed, stolen, vandalized, depreciate + more) is just idiotic. If I were in your shoes, I would just continue to save and make more money so 150k becomes on a scale of relativity a lot less to you than it is now. Great video, btw :)
I know exactly what you mean. If I was you I would just save the £150K and try and grow your business.
I worked for years like a slave in a major supermarket and saved all my wages. No chance am I going to waste that money because of how hard I worked for it. It's like it had added value because of how hard I worked. I'm saving it for a house deposit after I finish university, so no chance is it being blown on something that will be meaningless in 5/10 years time.
Been following you guys for a while now, love the videos!
150k is a lot of money, i would buy a few cars or upgrade the ones i already have. When you have worked years to save for that money putting it all down on one thing sounds crazy to me, the car collectors, Shee, MrJWW ect leave them guys to it
Think we use one of your apps in work, adtidy?
991 Turbo S! Nearly 600hp out the box! Ultimate weapon!
You already have great cars and that is a lot of money. Pay off some of your mortgage and keep the rest for a rainy day. If you do change the R8 get a GT3 as they hold their value
Maybe part ex the r8 for the new 2017 r8. That thing looks awesome.
Depends on the financial situation.
fer me to spend £150K on a car, I would have to own a house that I completely comfortable with living in for a longer period of time, I would have to own another daily driver that I don't mind driving every day (and get the Ferrari out on the special occasions ) and then would be financially stable enough to live my normal life without really worrying about the money tooo much....
like if I would be living in a small apartment, driving Toyota and had 150K in the bank, I would not consider buying a Ferrari,
but if I already had a house or nice apartment that I really like, I would be driving BMW or mercedes, and had 200k in the bank I would strongly consider getting one... Because lets be honest, its a big dream of many of us and at the end of the day the Ferrari doesn't depreciate as much as an M4 for example...
all it comes down to is a personal preference 😁🏎🏎🏎
What about a Cayman Gt4 (cheaper and less risk of depreciation) or a 430 scud ( expensive but only mileage with affect price)? At least with a scud you know you're buying an older car, and won't feel you're spending £150k for a slightly out of date model. However you'll need £175k for a good scud atm...
What about the f430 or the California?
Or try something completely different like a litchfield GTR?
Best of all get an R8 V10 Plus.
after sitting in a 430 a while ago, it just feels a bit too dated to me now to spend all that money on (they're still pretty expensive too)
Well I’m back here three years later...I’m actually saving for a 2016 GT86 which will be somewhere in the region of €25,000 and that to me is a shit load of money. I’m eager to buy one but like Chris in this video, now that I’ve got the money saved up for it I’m thinking “well should I?” I am going to go ahead anyway because I’ve all the math done and it’ll work out good. Buying your favourite car should something to look forward to not a financial burden.
You don't need to justify to us Chris. You do what you want because at the end of the day it's your money, which you worked hard for. Of course seeing you drive around in a 458 would be cool but so is driving an supercharged R8.
I would only spend that much money if i knew that the car would hold its value
The reason those channel flip cars so often is because they'll lose their views otherwise. That's their selling point and their pattern. If you did the same thing you'll have more views and subs but the type of viewer would be very different.
If you're happy with your car, be happy. My views have totally changed with what a car is to me and what I see people spending on them (as a % of their earnings). Can't put food on table but spends £400 a month on a Audi S3 lease. It's suspiring what people are like. Still loving the vids from the sub 1k sub days. Keep on it!
I would definitely just keep your money and grow it. Despite what some people say an Audi R8 is a supercar, especially at 700bhp. A more sensible route may be a 2017 Honda NSX. At least it's not dated like the 458, they're around £130k and you get lots of F1 and hybrid supercar technology.
What about a 570s or 650s?
Tricky because you have a fun car, a fast saloon, and they're both good for their class, so got to be a supercar!
you should buy a really cheap car that you think would look awesome as a drift/track car then customize the hell out of it. That's always been my dream
Keep the r8. You would not treat the Ferrari the same way the way you drive LOL !
Yeah I meant to mention that in the video - that if I'd spent 150 grand on a Ferrari I wouldn't be driving it like I drive the R8. Which is another reason not to bother lol
Fair play for even being in the position you're in. I say do what makes you happy. What you're saying makes tons of sense though regards keeping the R8 as the logical option, VS saying fuck it and 'upgrading' to another supercar. Side note as a guy who works in IT myself I am beyond curious what software you've developed
Thanks, and as for the software I'd love to share it with you guys but I try not to give out too much info as some people in youtube comments like to be assholes and try cause problems (which could be quite harmful considering my business is purely online and advertised purely through word of mouth and forum posts etc). Plus it doesn't look very professional if my customers find our videos lol I'd rather there was just no link between the two.
DedicationBlog yeah fully understood, I think I remember you saying that in a previous video and don't blame you at all. Can't fault you finding a niche and continuing to make it work in what from experience is a fairly cut throat environment (always some company saying they can do it better for cheaper, usually turns out to be bollocks).
I like these videos that i can just put on while doing other things, kinda like a podcast :^)
You mean you don't want to stare at my beautiful face for 20 minutes? I'm hurt
I know exactly where you're coming from. Personally I dream of a Mk2 Focus RS, they go for 20-30K and Id love to get one but the money id spend I could put into something more clever, buy another house for instance. Some times no matter how big the dream is the brain just doesn't agree.
Happy medium? A cheaper supercar than the 458 (100k mark) and invest the rest in your business/property?
If you have time on your side, why not get a new GT3? You could own it for a year or so and sell it with out making a loss? Then, by the time you've had fun with the GT3, you will have had another 18 months or so, and a new experience to help make-up your mind on a "458".
Getting on the list for a GT3 wont be easy, but had you planned it a year a go, or for some time in the future, it could work.
Honestly save most of it, don't spend all of it. By a project car and just build that up and just rag the r8 into the ground. And the money you have left invest it. E.g. you have 150k spend 20k on project car, 10k for mods for now, 10k left for bills and such in case you need it, invest the last 100k into your business or make a investment portfolio or something. Then again I've never really been drawn to exotic cars. For me an R8/GTR second hand are worth getting or maybe a 911.
Keep enough money in your bank account so you can survive for 6 to 12 months. Put the rest into an investment account, on average if you spead your stock portfolio you wil get 8/10% each year. Keep reinvesting, and in 10 years you could retire, or keep working and buy a new super car every few years.
Car is a depreciated asset, as much as its fun to change cars every now and then you should only spent on cars when you have some extra money that you can live without. I wouldnt even count it as my asset , because as you mentioned it might crash, it might loose its value drastically.. About making videos with new cars, I was wondering cant you partner up with some car dealers or company to do reviews on their cars ? or maybe some yearly lease if you like changing your cars pretty often, but it might not come cheap either.
Couldn't agree more. No point in blowing that money on a super car unless it's an investment. I would buy a house with that so I don't have mortgage worries. :p
I'm with you. If you have the urge to spend some money, buy some less expensive fun cars and try them out.
Id be struggling to, i've always been good at saving but now that ive got spare cash the thought of spending it I end up going into full sensible mode and try and figure out how long im gonna get it back and question whether I really need stuff.
Stupid being an adult.....
Oh and no, if the R8's still fun to drive and you get out of it what you want theres no point spending more on something that will just handle a bit better.....you could spend a lot less probably making the R8 handle better.
Well if you hadn't spent £40k on a GT86 then you would've been in a position to easily buy this car! I say it's your fault for spending a bit too much on the 86 and other needed enhancements. Although they seem like a cool addition to the car, the long-term value is pointless.
Imagine the house you could buy with a 150k down payment.
Save the money and buy a 458 engine for the GT86...sorted!
While watching this video I realized a few things. If you think about this much to spend or not to spend (please don't take it in a rough way) Is it really your dream car? Like with me currently I have a lot of dream cars but I categorize them. Like the more realistic dream car. Plus a 150k £ is a lot of money yes it's your dream car but imagine this you buy your dream spec 458 and then you will be disappointed cause you realize what you've got for that. You could get a very nice shop with a lift and all the air tools etc. Or get a nicer house or start a new business or travel. There's soo much thing to do with all that money. If I would be you I wouldn't get it. And my biggest reason is I wouldn't want to spend that much money If like you said Chris wouldn't have like a decent amount of money in the bank. What would I do with a 150k? Build up my E30 as a professional drift car get a trailer get a smaller shop where I can work on it and still make money as a mechanic cause that will be my job once I finish school. Get a trailer and a 5000 or max 10000 £ car that I can tow with. I would still have soo much money left too. I wouldn't spend it I would keep that to really concentrate on my (possibly) biggest goal of becoming a professional drift car driver in like Formula Drift USA or King of Europe. Both in the pro rounds. Sorry for rambling a lot. But hopefully this will help you decide Chris if you will end up seeing/reading this.
Well to be realistic most luxury/supercars are leased or financed at least here in germany and with the down payment you could make you could get a „big“ supercar easily, but it probably is a wise decision not to do this.
If you want to do something better with your money invest in a mix of real estate, stocks... and use the passive income you generate there for fun things
Diminishing returns except on a mad scale. Personally, I love so many cars in the 10k range that I'd buy a fuck load of those over time, all the 90s JDM cars, at a push right now what I'd like to do ultimately is get a kit car Stratos put together (though I'd rather buy one second hand since they instantly tank in value...).
Even were I in your position, I'd be much more likely to sink that money into a nicer house than a car, or as I said, have lots of cars I really like. It's a poor investment as well as little more in terms of performance than you get out of your R8.
I do like a lot of cheaper cars too, but I don't have any more space for any more cars lol and plus I wouldn't want loads of cars that are all pretty similar. As for the house, I'm not that bothered about having a bigger house... just more rooms to clean (and I'm bad enough at cleaning the small number I have now).
I'm not saying you should get cheaper cars, just saying that sort of mentality could apply to you too, find other cars similar to the R8 to swap out for? Not necessarily often either, something you could do every few years.
Or don't at all and call this your end game for the forseeable future :P
Keep the R8 and do some unique cool modifications...
I think you should buy a limited supercar, like the 911R or Mclaren 675LT. Keep it for a few months (or years), have fun with it and if you're tired of the car you can sell it with a profit. Shmee is doing this as well ;)
yeah but buying those limited supercars requires WAY more money than I'll ever have lol a 911R is like half a million quid right now. A 675LT is over 300 grand.
some people buy cars that are 2 years old and sell them within a year without having lost much money on them.
yeah but most supercars do lose a lot of money over a few years. So if you limit yourself to ones that probably won't lose as much, I feel like I'd just end up buying one I don't REALLY want. Like I'd only be buying it cos it wouldn't lose much, rather than buying a car of my dreams. Plus then I'd always be worried about mileage and track days etc and wouldn't really be able to use it how I wanted, if I was always thinking of resale value.
Do what you like Chris, but remember the one BIG point of buying a Ferrari, It's a fantastic balance of achievement/fun/best supercar investment and you can always sell it and get your £150k back. It's really just the cost of ownership to consider.
Yeah but the cost of me owning it would be pretty high lol I'd put a lot of miles on it, thrash it at track days, probably damage something...
Would be to scared to use it only appear once a year
hell yes you only live once and cant take that shit when you die.. you will only regret not buying it if you do the sensible thing and invest it or buy houses
Many drivers who buy cars are not drivers. You're a driver. Buy the car.
its stupid to buy car in cash,tie up all your cash that can be invested conservatively and earn 10% easy and more if you do some research.Rich ppl don't buy in cash cars n expensive toys like that..
Raivons R1 10?! Where?
lol yeah show me somewhere you can easily make guaranteed 10% return on an investment (that doesn't take like 15 years to give you the return). I've lost count of the number of times people have suggested things to me but then when I look into it its actually nowhere near as good or easy as they make out
I would look at buying something cheaper just because u like to upgrade your cars like gt86 and r8. i think u probably would be disappointed with the 458 just because of power and it will probably break more.
Wouldn't you think you want at least 50 grand left over so therefore you 150 and you trade the r8 in meaning you still have 50 to comfortably afford the car then invest in property or diversified portfolio of stocks and shares
I think your money is safe with a Ferrari 458. Maybe you'll even make money. Not that it should be about that but it helps to know your money will still probably be there in a years time or if shit hits the fan with your business
Then what next after the Ferrari once that dream is realised? The R8 shows what can been achieved in a real supercar killer (and faster than the 458)....treat yourself to a 4 post garage lift and continue with the car mods (that i see you enjoy doing) that brings a reality that most can relate to.