MK5 Golf GTI
General => Random Chat => Topic started by: garrardrj on February 19, 2015, 09:20:31 am
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Right ... We have near on £100k in two ISA's that mature in May this year . If we re invest it in another ISA then we might get 1.5% over 2 years and we are seriously thinking of buying a car as an investment .... Oddly this is sort of what the Classic Car Show Channel 5 tonight is all about with Quentin Wilson and Jodie Kidd .
What we would do is put it into a local car showroom as an attraction to customers but would keep it dry and secure for us . We would also want to use it in the summer months .
What would you do ? Would you do it or what would you do with your £100k ?
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If you're looking to buy a car that'll only go up in value (provided use is kept to a minimum or none) then a fully restored mk1 Golf GTI is the way to go. Mk2 Golf GTI's in full original condition are also going up year on year, last year I was looking at mk2's for around £2000 and this year the same level of condition is now selling for £2500. Mk1's are increasing in value even more.
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I wouldnt gamble 100k on a car.
Why not use that as a deposits and buy a few BTL houses/flats? Market is creeping up slowly, so it would be a long term thing. The tenants pay your mortgage on the properties and you make some money back in 10/15 years when you sell them
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10 year government savings bonds? I don't know about the UK but in Ireland a 10 year bond with the post office yields 25% tax free interest in 10 years. Can you wait that long though? If you take it out before 10 years the interest is terrible!
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Sod cars, 100k has to go into bricks and mortar!
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Property !
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http://www.pistonheads.com/classifieds/used-cars/nissan/gt-r/nissan-gt-r-r35b-1000hp-black-edition-2009/3672443
Lol
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I wouldnt gamble 100k on a car.
Why not use that as a deposits and buy a few BTL houses/flats? Market is creeping up slowly, so it would be a long term thing. The tenants pay your mortgage on the properties and you make some money back in 10/15 years when you sell them
I hate BTL's and the money making involved around Houses . Houses are homes and many of our children will fail to own their own homes because of it (unless parents stump up large amounts of cash . I believe that house prices are over inflated due to the false demand created by BTL Landlords and also that the stock market is due a correction (because traditional savers in financial institutions have also invested in stocks and shares to get a reasonable return they will want to get out at some stage) and EU problems adding to the problems .... Hence wanting a different way of accumulating a little bit extra ....
There are many cars in this market which are vastly overpriced as can be seen when searching the internet .... I quite like Mercedes SL's from around the 50's ... also some older Porsche's like the 356 . E Types are also a good investment but finding a really good one is a struggle.
I could buy a MK1 Golf as they are an appreciating classic but i need to be putting £50k plus into the car , i don't want 5/6 plus !
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Old Porsches are the way to go, my step dad just spent 30k on a 964 C2 that was worth half that about 4 years ago and they're still climbing rapidly. 993 turbos have also nearly doubled in a few years. If you can try to find the trend it's a risk but with that money you could make 50k in a few years if you get it right.
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Old Porsches are the way to go, my step dad just spent 30k on a 964 C2 that was worth half that about 4 years ago and they're still climbing rapidly. 993 turbos have also nearly doubled in a few years. If you can try to find the trend it's a risk but with that money you could make 50k in a few years if you get it right.
Well thats the gamble with cars... it could end in tears.
If you don't want to do property then I would suggest doing nothing and just sitting on the 100K. A bird in the hand.....
You should have bought a RS4.0 when they came out. They are worth a fortune now.
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Missed the boat on 997 GT3 RS's, too. They're heading towards £200K these days...
What about an E46 M3 CSL?
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Missed the boat on 997 GT3 RS's, too. They're heading towards £200K these days...
What about an E46 M3 CSL?
Maybe... but i doubt you'd make serious money on it.
Why not put the 100K into a new home for yourself?
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There are some safe bets out there that will make you a few
££, but if you're going to risk it in cars then you might as well go big and try to make more or as many others have suggested go for property which is safer.
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Mk1 Golf GTI
Mk2 Golf Rallye
Mk2 Golf G60
Ford Escort Cosworth
Ford Sierra Costworth
Ford Fiesta RS Turbo
Porsche 911 (Pre/Early-1990's)
Buy a fleet of these classics and you'll quickly spend £100K. Keep them all dry and safe and in a few years you'll easilly see 10-20% return on original costs.
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Porsche 911 Turbo 964 the last of the air cooled and the best looking IMO
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You can make a bit on some new cars if you get on the order lists early. Happened with the new focus rs a few years ago.
Supply and demand thing
Also the pound is really strong at the minute. Could get some euros.
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+1^
The new Honda NSX will make money for anyone who's got one ordered to be stored for investment purposes!
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It also happened with the BMW i8. Just under 100k asking price, easily sell for 110k now!
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Hmm tricky one.
I'd go for property if I wanted to make money.
Cars and classic cars can be a money pit, but are good fun. However, if you buy a mint classic and use it - it will rust. You'll then have to invest money in getting it back to mint condition. If you wash a classic, it will rust. Drainage in older cars isn't the best, water hangs around. Oh, they can leak too! :-) If you don't use them, things will seize up. If you need to repaint a classic, unless you can do the work yourself you'll be looking at a fair few 000s. But that goes for any car really.
If you can find one that appreciates then that's a bonus! The classic Fords - Cortinas modified by Lotus, Ford Sierra Cosworths with race heritage are worth good money and going up. The odd barn find can be sold for good money, but it's always mint examples that command the money. And if you use those cars, they won't be mint.
But good luck with whatever you decide to do.
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If your not comfortable with the markets and feel they are too much of a risk, then I would say that Investing as you call it in a car is a very niche market and even more of a gamble/risk than the stock markets.
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RS500 :happy2:
Always going up in value.
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But left wing old split screen camper 23 window they are going up and up
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I wouldnt gamble 100k on a car.
Why not use that as a deposits and buy a few BTL houses/flats? Market is creeping up slowly, so it would be a long term thing. The tenants pay your mortgage on the properties and you make some money back in 10/15 years when you sell them
I'm sorry but I don't really like the whole BTL thing.
Means people get often untaxed income from tenants, owning multiple houses at high prices to rent and people like me won't ever be able to own my own house.
If you want to rent out rooms other than in your primary house (eg you have 2 houses one in Manchester and one in Dorset coast) then you must register as a company and have all your rent taxed.
I agree with Rich, £100k on a car is DAFT.
Maybe take £20k out of that £100k, put the £80k back into ISAs and speak to an Investment banker who can play with the 20k on a more high risk/reward basis..
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I wouldnt gamble 100k on a car.
Why not use that as a deposits and buy a few BTL houses/flats? Market is creeping up slowly, so it would be a long term thing. The tenants pay your mortgage on the properties and you make some money back in 10/15 years when you sell them
I'm sorry but I don't really like the whole BTL thing.
Means people get often untaxed income from tenants, owning multiple houses at high prices to rent and people like me won't ever be able to own my own house.
If you want to rent out rooms other than in your primary house (eg you have 2 houses one in Manchester and one in Dorset coast) then you must register as a company and have all your rent taxed.
I agree with Rich, £100k on a car is DAFT.
Maybe take £20k out of that £100k, put the £80k back into ISAs and speak to an Investment banker who can play with the 20k on a more high risk/reward basis..
Thats correct.... over a certain amount then you do have to pay tax on any rental income you get. No big deal
You could say the same about spending 100K on a car and leaving it in a garage to make money... Someone else could have bought that and be enjoying it.
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I agree with the sentiment, but IMO it's different buying say a Jag e type and locking it away to taking a house off the market and then charging people a lot of money to stay in it.
Maybe like buying an E-type and then charging people to sit in it for a little while :signLOL:
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I don't see the big hang up with renting or BTL... and this is coming from someone who was paying 1100PCM in harrow for a 2 bed flat for 4 years. Yes its expensive compared to a mortgage payment, but then there is a lot less to worry about when you rent.
People need rental accommodation, thats not gonna change. It would be worse if people bought houses and left them empty.
Slight digression from the actual thread...
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I assume you are already mortgage free?
I had 100k once, (2006 and 24 years old)
(https://www.mk5golfgti.co.uk/forum/proxy.php?request=http%3A%2F%2Fdaz.co%2Fmedia%2Fc197%2Fpt82%2FDSC00213.jpg&hash=b2cf174b9264542c5c38abf41d1cb0d87c29f5dd)
It was spent as follows if anyone is interested lol
Bought a low mileage limited edition Escort Cosworth for £18,500.
Enjoyed it for two summers and sold it for what I paid. (The very same car was up for £36,000 last year)
Went travelling for a year and spent 10k. Saw amazing things, got drunk and chased girls. Good times! Came home and saved back up to 100k
Put 75k down as a deposit on my house, put 25k on a BTL.
Bricks and mortar is where it needs to be.
If you REALLY want a car I would try and get your name on a Cayman GT4. Enjoy for a year and not lose a penny imo.
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Housing market is due a correction in values again in our area as they are too high for the salary/wages earn't by the majority . There are hundreds of BTL's in our area too that have been bought up by landlords who have pushed up prices and there are loads of flats that are empty and some that were built in 2007 that have never been lived in ....... There were buy 3 pay for 2 offers off plan for these flats/apartments on the waterfront in Ipswich .... Investors paid £440 - £460k approx for 3 in 2006/7 . There are selling now for around £120k each (they were selling 2 years ago for £80k each) , hardly a massive profit! More like a £100k loss .... There are tons of these around the University and they will become student accommodation and you know what that will cause for the area ...I digress
If i did not have the view that the housing market was going to slump i may consider becoming a landlord (but i don't want the hassle) .
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I can imagine being a landlord in certain areas could be a right pain. My wife's sister and husband live in ours, Moved in a week after we got the keys, we are very lucky.
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Buy gold, the price is low at the moment. the price will only ever go up :happy2:
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I can imagine being a landlord in certain areas could be a right pain. My wife's sister and husband live in ours, Moved in a week after we got the keys, we are very lucky.
Having been a Police Officer for 30 years unfortunately gives me a tainted view of alot of things , rented housing being one of them and everything relating to it !
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No effin' chance of getting a GT4 unless buying from a prospector who already has a firm order in the book. Porsche UK only have an allocation of 124 cars for this year and I'll bet they're all sold 10 times over.
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Don't know if you said or not
are you debt free ie no mortgage?
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Invest in Canada's economy.
All this craze for healthy sweetener alternatives to processed sugar means the demand for honey and maple syrup, which canada has lots of, is going to go through the roof :popcornsoda:
or if getting a car an old ferrari or lambo maybe?