Leon sale options – Please help me decide

[snifta]

in a way, try to get back as std as possible, even switch revo off, and try to sell as standard.

I have kept all my old parts for this reason, so that i can aim the car at other buyers not just the modified scene.

 

[paullec]

well tbh i could say im in the same situation as im looking for a pad myself. I.d keep the car as your'll never be happy again with a sub replacement and it will work its way to you emotionally and your'll probably end up buying a new car and losing more money. If you really need to get another place ASAP i would reckomend working 2 jobs it will kill you but after 6months your'll know why you did it

 

[Mitchy]

Scotty i've had similar thoughts in the past but i've ploughed too much money into this car now to realistically get rid of it!

Im going to keep it for a good couple of years yet, the main reason being i still like the looks of it, its very well equipped, the performance at the spec its in at the moment is very very good. Its only the highly modified and the £50k+ cars that will show their heels to me, The insurance is still fairly cheap, the petrol consumption is still good and apart from the odd rattle here and there its a very reliable car with a bullet proof engine/transmission.

I couldn't replace it with something better, i really dont think i could without spending big money on a car say £30k+

Im not interested in losing the money ive spent on mods either and these are the main reasons why i will keep it for a good while longer.

We all need cars, downspec to a cheaper 1 but you've still got the fuel/insurance/tax/MOT/servicings and most importantly if downspeccing the car to something cheaper, age, mileage and reliabilty problems. Turbos need replacing, exhausts need replacing/electrics get shoddy, the paintwork is terrible.

Fu*k that, i'd rather keep the car i have and get a 125% mortgage. Saying that i wouldn't buy a house as a 1st time buyer at the moment. They cannot keep going the way they have been, as in 10-15yrs time the 1st time buyer will have to get a mortgage of around 15-20 times their salary. Its already at about 7-8 at the moment. 5-10yrs ago it was around the 4 times mark.

But hey thats a whole new kettle of fish and a seperate discussion.

Scotty, i think your mad to get rid of it now mate after all the £££ you've ploughed into it. I cant see you getting the £££ for it you want either.

 

[Fidge]

I agree, I would look at the best options of keeping the car, to save regrets later! Get a mortgage where you can pay off more every month without penalty and get a lodger in the spare room!? You can then chip away at the mortgage every month and that'll take it from expensive to affordable!

 

[warren_cox]

Get an interest only mortgage in the short term until your income goes up, then switch after 3 years or so to full repayment. Then you can save a couple of hundred quid a month and keep your pride and joy.

 

[m0rk]

I guess (from reading above) he needs the cash as a deposit.....

And taking a loan out (for the deposit) might reduce teh maximum available?

I might be shooting fish in a barrel

 

[p1tse]

sounds like the right option is to sell up and get the flat, drive around in a beater which still gets you to A to B and sorted for the time being.

while you can chill with a roof over your head which is yours! get yourself a decent big flat screen hook it up to playstation or xbox and enjoy the driving games.

hard choice, but would be worth it in the long run.
as if you don't sell up, loose more money on the car, stay where you are (assuming not your own) and say in three years time the car has depreciated to loads and only have the car to show.

or sell up (bite the bullet on driving a beater)
watch the house price go up, save a bit of money each month, and then buy something later equivalent or better to the LCR

 

[Tallpaul]

The car is a money pit and the house is an investement; it's a no-brainer for me.

The smart man knows when to cut his losses

 

[Fidge]

True but taking into account all the money thats been spent on the car and the general rule with depreciation etc... The car is worth more in possesion than in a sale! Its eay to get 100% mortgages nowadays! Your doing right by jumping on the ladder tho! I bought my LC new in 2003 for cash, money I could have used in buying a place, whilst I thought house prices were going to drop but they didn't they just kept climbing! so a year later in 2004 I bought a place and had managed to save up the £7500 deposit needed in that time. Glad I didn't sell the LC, I deffo would have regretted it! Still only you know your financial situation so you do what you thinks best!

 

[si-mate]

You can get 100% + mortgages but you won't get lent anywhere near as much as you will if you have a good deposit - or get such a good rate.

 

[warren_cox]

I guess (from reading above) he needs the cash as a deposit.....

And taking a loan out (for the deposit) might reduce teh maximum available?

I might be shooting fish in a barrel

from reading back you're right - I was thinking affordability rather than deposit.

 

[ajoellew]

Realisitically how much is your income going to rise in the next few years? If it's not likely to change much then if you stretch yourself with a 100% mortgage now you'll never have any money to enjoy yourself and have to live off beans on toast.

If you're on a proper career path with the potential for a steadily rising income then what might sem like a stretch now will be comfortably affordable in a few years time.

It's not just the here and now you need to think about when making your decision, but your standard of living in the future. Also bear in mind that with a 100% mortage not only will you be borowing more, but the rate on interest you pay will be higher so your monthly outgoings will be higher as well.

Best of luck whatever you decide.

 

[Scotty_b]

Its not a question of one or the other its that i need the cash and its the only form of capital i have.

Things just keep getting worse at the mo.

Ow and m0rk audi phoned me today with more info on that a8, it was a cat D so not the deal i was hopeing for

Found this too, http://www.jabbasport.com/product_fulldetail.asp?ProductID=178 , makes mine look dirt cheap!