What are your thoughts on buying an Exige and having 5-7k Finance? my situation is as follows:
Im 19 years old and have a secure job netting around �1k completely disposable income every month - Insurance is not a problem, i can get insured no problem at a reasonable rate.
I would be looking at an S2 exige 190 around the value of 20k with a view to raising around 15k selling my current car, The other option is to save up, however im not very good at this always find a way to spend the spare cash!
Can anyone whos been in a similar situation offer advice?
no, I�m not in a similar situation - but my advice is: only buy what you can afford. Only buy if you have the cash. Don�t let a bank finance your car (unless it�s for business purpose, then it might be different depending the country you�re living in)
To avoid spending the 1k each month for (whatever) give it to your dad and tell him to keep it for you - make a contract with him and plan at what date he has to give it back to you and for what purpose.
You’ll have much more fun with your Lotus if you can say ‘‘that’s the car I’ve saved my money for the last 2 years for’’. Because then you�ll know �THIS car belongs to ME, not to the bank�…
I have a loan on mine, as it is a S1 I am betting on minimal depreciation with my mileage so for me it makes financial sense.
Investing is an Exige seams a good bet, at least you will have fun and an asset at the end of it all.
I did a similar thing with a Lotus sunbeam when I was 18 and I still have it. I could have spent this money on Drink and Girls Actually, may be worth a second thought!!
Dave, give you an idea using my old R32 as an example, it was 18 months old (57) when I bought it April/09 2nd hand. I put �1k down which left a balance of �17k at �389 monthly so I say go to a Lotus dealer and get them to number crunch, you’ll know what you’ll be able to afford. Post some figurse by all means…
[quote=jonnyfox]Dave, give you an idea using my old R32 as an example, it was 18 months old (57) when I bought it April/09 2nd hand. I put �1k down which left a balance of �17k at �389 monthly so I say go to a Lotus dealer and get them to number crunch, you’ll know what you’ll be able to afford. Post some figurse by all means…
NA ROCKS [/quote]
I would think upto �400 a month would be affordable…
[quote=lotus_fatboyii]I have a loan on mine, as it is a S1 I am betting on minimal depreciation with my mileage so for me it makes financial sense.
Investing is an Exige seams a good bet, at least you will have fun and an asset at the end of it all.
I did a similar thing with a Lotus sunbeam when I was 18 and I still have it. I could have spent this money on Drink and Girls Actually, may be worth a second thought!!
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Drink and girls - thats where my disposable usually goes lol!
Are you willing to hint how much your loan is for?
Actually, may be worth a second thought!!
