Opinions/Advice

[j.owen]

I said it was boring, but it's also true. Wrong forum but people of my age and above really have had it relatively lucky with wages, work related pensions, an element of job security and the like.

Prospects for people your age are much less secure. Add in culture of spend it now think about it later and it's a recipe for a long and hard working life, unless you manage to make a packet, which most do not.

Amazing job to have 15k savings at 21.

BTW interest rates on savings in real terms (i.e. factoring in inflation) are better than they have ever been.

No I completely agree with all of your points, I think the exact why you do, compared to all of my mates I'm a saint in that respect.

I get a good pension where I work (which so happens to be DWP) So I'm not too worried about the long term as much as others my age may be, just make sure I bank a fair portion of my wage each month no matter what to ensure I have the money for a mortgage and decent car for the future!

Cheers haha, regarding the interest rates on savings, why do you mean by that?


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[nicknameless]

Cheers haha, regarding the interest rates on savings, why do you mean by that?


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Inflation currently at 0.3% according to the Consumer Price Index. Has been running between this and 1% last 2-3 years.

If you are savvy saving rates of 3-5% have been available on savings making a real return on savings of 2-3%ish depending on amount of savings. Approaching rates of returns for equity investment without the inherent volatility. Most people just see headline interest rates without actually understanding that without factoring inflation in it means nothing.

Rates are about to change for the worse due to recent BOI interest rate cut, cheap supply of funds to banks from non retail customer sources, and the cost of the BOI cuts to the banks.

Now back to cars!

 

[j.owen]

Inflation currently at 0.3% according to the Consumer Price Index. Has been running between this and 1% last 2-3 years.



If you are savvy saving rates of 3-5% have been available on savings making a real return on savings of 2-3%ish depending on amount of savings. Approaching rates of returns for equity investment without the inherent volatility. Most people just see headline interest rates without actually understanding that without factoring inflation in it means nothing.



Rates are about to change for the worse due to recent BOI interest rate cut, cheap supply of funds to banks from non retail customer sources, and the cost of the BOI cuts to the banks.



Now back to cars!

Ahhh interesting, my current bank offers me 0% interest on my money, I'm just too nervous to switch (stupid I know). The best account for my circumstances that I've seen is the Santander 123 account. I've been debating switching for awhile but as I said, too scared

Anyway, as you said... Back to cars


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[bretth1974]

Ahhh interesting, my current bank offers me 0% interest on my money, I'm just too nervous to switch (stupid I know). The best account for my circumstances that I've seen is the Santander 123 account. I've been debating switching for awhile but as I said, too scared

Anyway, as you said... Back to cars


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123 is about to reduce its headline 3% interest rate to 1.5℅. Still the best out there if you have £10k or more in savings but certainly far less attractive.

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[Curtly]

Have you considered heading down the Fr route? The 1.8 petrol is fast enough and you can pick one up for a lot less than 18-19k?

 

[YerMaw]

Protect capital.

Please don't spend the whole 15k on a depreciating asset. Keep it in the bank or buy premium bonds with it and slowly add to it while you enjoy a sensibly priced cupra lease.

 

[j.owen]

Have you considered heading down the Fr route? The 1.8 petrol is fast enough and you can pick one up for a lot less than 18-19k?

I have, but the only way I'd go for one is with all of the extras (styling kit, panoramic roof etc) and then they're my too far off 280 prices, MY16 Ibiza Cupras are also cheaper and more powerful desirable (for me personally)


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[j.owen]

Protect capital.



Please don't spend the whole 15k on a depreciating asset. Keep it in the bank or buy premium bonds with it and slowly add to it while you enjoy a sensibly priced cupra lease.

Yeah I think you're right to be honest, after speaking about it on here and with my girlfriend/family I think another lease is the best way forward for the time being, maybe forever


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[kiddo]

Protect capital.

Please don't spend the whole 15k on a depreciating asset. Keep it in the bank or buy premium bonds with it and slowly add to it while you enjoy a sensibly priced cupra lease.

Wise words

 

[Jarre]

I agree. Can't see me ever owning a car out right again - and why would I want to? It depreciates. I'd never have the money to go buy my £26k Cupra black 290 that I've just ordered. But PCP is easily affordable.


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[mardon]

Put a deposit on a house if you don't already have one. Wish I'd done that.

I know it's the boring answer but I bought a 16K Bocanegra a few years back. If I hadn't done that back then I'd have a house now and be around £500/600 a month better off.

I bought a 2014 Cupra with 5K miles on it for 17k which works out at £265 a month for 4 years with 7k balloon at the end. Wish I'd gone lease now seeing some of these deals.

 

[CupraUK]

Just paid £12,600 for my FR, which would have been £26k with the options it has two years ago new. Mega money loss.

 

[j.owen]

I found some really good deals a few weeks ago for 290 Black Editions, after a quick look around on my dinner in work I couldn't find anything close. Lease4less who always tend to be the best when I look have stopped leasing Cupra's all together for some reason!

Hopefully some more good deals come back around in the coming months for me

 

[nicknameless]

I found some really good deals a few weeks ago for 290 Black Editions, after a quick look around on my dinner in work I couldn't find anything close. Lease4less who always tend to be the best when I look have stopped leasing Cupra's all together for some reason!

Hopefully some more good deals come back around in the coming months for me

Works out at 257ish a month including fees, but on 5k miles. Worth enquiring with them;?

Damn I can't post a link until 15 post (WT.....F?).

Try Central (UK) vehicle leasing.

 

[BrettS]

Why own a depreciating asset??? Lease is the far better way to run brand new cars aslong as what you pay is close to the depreciation.

Capital in the bank and pay the lease

 

[Mickle]

I found some really good deals a few weeks ago for 290 Black Editions, after a quick look around on my dinner in work I couldn't find anything close. Lease4less who always tend to be the best when I look have stopped leasing Cupra's all together for some reason!

Hopefully some more good deals come back around in the coming months for me

Same boat as you, 21 and have been saving, though I managed to snap up a 290 black from CVL.

Seat Warrington are advertising them on their site still, I can't post the link, but go onto Seat Warrington, then the Contract Hire tab. Seem to be the cheapest you can get at the moment, they seem to have 3dr/5dr man, 3dr dsg.

The cheapest of them, a 290 Black 3dr is £1,194 deposit then £199 p/m inc vat.