Sheefa Posted May 8, 2007 Share Posted May 8, 2007 On and off-topic and I'm sure it's been covered before. I'm selling mine to clear a lot of debt in July and wondered how other owners have funded their machines and what level of financial craziness they have got them in. Does NOT include Mortgage debt, but all other debt including student loans is applicable. My story as follows: £12k Student Loan £14k Direct Line Loan for Supra an to Clear Credit Cards (£10k outstanding) £8k credit card debt (mainly on the car!) £2k overdraft to the mx. Total Debt as of today near £32k. Now someone make me feel better! Quote Link to comment Share on other sites More sharing options...
Guest Nicholas Posted May 8, 2007 Share Posted May 8, 2007 Greg watch spendaholics next time it's on! always makes me feel great! Quote Link to comment Share on other sites More sharing options...
grahamc Posted May 8, 2007 Share Posted May 8, 2007 I bought my supra cash, with broken engine... Most of the parts I have been collecting for a while now, and storing under the dining room table, in the lounge, behind doors, etc. Turbofit engine build is coming to £3500 ECU and mapping £1500 KnightRacer Exterior work £700 Most of this is going onto the credit cards. Looking at buying a house now... However I did arrive in this country with a shed load of debt in SA, and spent the first 9 months playing catchup. Now that is sorted, its time to buy a house here... So I doubt I am going to cheer you up... but about to take on a £250K mortgage!! WTF am I thinking?? Quote Link to comment Share on other sites More sharing options...
colsoop Posted May 8, 2007 Share Posted May 8, 2007 Blimey Greg thats some serious debt, i can see why you are selling her Quote Link to comment Share on other sites More sharing options...
chilli Posted May 8, 2007 Share Posted May 8, 2007 hmmm no debt on my car(s) no loans approx half equity in my house but I'm finding myself running half a months salary into my overdraft at the moment (but there has been a lot to pay out for recently on home improvements and other things). To think I was feeling bad about that too. Sorry I can't cheer you up though. Quote Link to comment Share on other sites More sharing options...
tooquicktostop Posted May 8, 2007 Share Posted May 8, 2007 My Supra will never cost me as much as my ex wife !! but it is having a dam good try at it Quote Link to comment Share on other sites More sharing options...
GeordieSteve Posted May 8, 2007 Share Posted May 8, 2007 Financially the Supra was my worst decision... around 50k spent in 3 year Quote Link to comment Share on other sites More sharing options...
dibbleyuk Posted May 8, 2007 Share Posted May 8, 2007 Thats not good mate hope you get it sorted i really try to only spend what i have, I have one loan which i used to buy the car but have the money sitting there in my saxo to pay it off if needed. Quote Link to comment Share on other sites More sharing options...
gaz1 Posted May 8, 2007 Share Posted May 8, 2007 Financially the Supra was my worst decision... around 50k spent in 3 year snap:( Quote Link to comment Share on other sites More sharing options...
Gaz Walker Posted May 8, 2007 Share Posted May 8, 2007 My Supra will never cost me as much as my ex wife !! but it is having a dam good try at it Lmao Dean - just sent your latest delivery to TF Gaz. Quote Link to comment Share on other sites More sharing options...
tbourner Posted May 8, 2007 Share Posted May 8, 2007 Mine's more because of the MGZR, bought for £14,500, sold 18 months later for £6,500!!! Mortgage is £145k, house is worth about £130k. Loan on top for £17k - so about £32k same as you really. Quote Link to comment Share on other sites More sharing options...
Guest NINJYA Posted May 8, 2007 Share Posted May 8, 2007 oh my god, im so glad im on top of all my bills, only owing a small £3000 loan which i got to pay for some of the car, no credit cards, i privately rent and pay for things with cash instead of credit. I would hate to be in that sort of debt - no wnder you are selling! Quote Link to comment Share on other sites More sharing options...
tooquicktostop Posted May 8, 2007 Share Posted May 8, 2007 Lmao Dean - just sent your latest delivery to TF Gaz. Cheers Gaz Quote Link to comment Share on other sites More sharing options...
mikeyb10supra Posted May 8, 2007 Share Posted May 8, 2007 mortgage and thats it for me oh and student loan which is around 7k I believe, cant really remember car is all paid for now so owe nout on it Quote Link to comment Share on other sites More sharing options...
Nick Posted May 8, 2007 Share Posted May 8, 2007 Christ, 32K ! I hate the thought of debt, that would keep me awake at night. Quote Link to comment Share on other sites More sharing options...
gregsupra4 Posted May 8, 2007 Share Posted May 8, 2007 This is personel debt on my car nothing to do with the company and only mine and sam's savings. £11k to buy car and have few bits done £6.5k in first year to cover single and mapping £28k in second year this was for Turbo, manifold, fueling, AEM, sensors, tyres, mapping, clutch's. £10.5k in this the 3rd year for new engine, gearbox, turbos, plus a shit pile of other things, this still does not include paint and mapping, tyres and fuel So total for car in 3 years to date £50k. Has it been worth it ? Yes and No. Yes: Lot's of fun, meeting some great people and pusing things to the limit and beyond. No: frustration, headache, no holiday's, always skint, lot's of debt. Question is would I do it again ? YES:) Quote Link to comment Share on other sites More sharing options...
jazz1 Posted May 8, 2007 Share Posted May 8, 2007 me debt free:d gave back my student loan and also i dont do credit cards Quote Link to comment Share on other sites More sharing options...
Guest Phillw454 Posted May 8, 2007 Share Posted May 8, 2007 Thankfully sweet fa!! Quote Link to comment Share on other sites More sharing options...
AndrewOW Posted May 8, 2007 Share Posted May 8, 2007 For me its a £154,000 mortgage, and an £8,000 loan. No credit cards anymore, and I'm a few hundred quid into my overdraft. No problems really, but I do fear the end of the fixed term on my mortgage! Supra's costs are petrol, and anything else I want to spend on it, but never over the top really, oh and servicing. Quote Link to comment Share on other sites More sharing options...
Ark Posted May 8, 2007 Share Posted May 8, 2007 What debts? Car bought for cash, no outstanding CC bills - I just don't spend more than I earn. I always wondered how come some of the youngsters on here could afford to modify their cars so much. Now I know - you can't!! Quote Link to comment Share on other sites More sharing options...
wallace9 Posted May 8, 2007 Share Posted May 8, 2007 Mine's more because of the MGZR, bought for £14,500, sold 18 months later for £6,500!!! Mortgage is £145k, house is worth about £130k. Loan on top for £17k - so about £32k same as you really. I had a mgzs which I sold for 3k when I still owed 9k on it so had to get a loan for the supra plus the remainder for the zs. Quote Link to comment Share on other sites More sharing options...
jazz1 Posted May 8, 2007 Share Posted May 8, 2007 What debts? Car bought for cash, no outstanding CC bills - I just don't spend more than I earn. I always wondered how come some of the youngsters on here could afford to modify their cars so much. Now I know - you can't!! i can:p thanks to my dad:( Quote Link to comment Share on other sites More sharing options...
tbourner Posted May 8, 2007 Share Posted May 8, 2007 I could easily afford it when I was living at home - this first year of mortgage ownership has been tough. Quote Link to comment Share on other sites More sharing options...
neil tt Posted May 8, 2007 Share Posted May 8, 2007 No debts on credit cards, very small mortage about £25,000. It is amazing how quickly you can spend money on a car though, I have had the Soarer about 4 years and got through at least £25,000, and thats without the cost of the car, but its been fun (Ithink) Quote Link to comment Share on other sites More sharing options...
Sheefa Posted May 8, 2007 Author Share Posted May 8, 2007 Thanks guys - that really cheered me up! Not!!!!!! At least Greg's story has though, he's in more debt than me. It's not a case Ark of spending more than I earn matey. OK, I got the loan of £14k to pay off crap student credit card debt and buy the car, but was all clear except for my student loan repayments too (which don't really count - so I tell myself). Trouble is, as I bought a bad egg of a car, that's put me straight back into the Red, £6k in fact, and now it's really taken it's toll. The latest bill I'm awaiting from Turbofit for the VSOS and bits will put me into the £7k mark - await Greg to confirm!!! I live at home, earn £26k, with bonus etc about £28k per annum and only pay £300 a month rent so I'm actually quite financially stable. The car has been the worst decision I have ever made though - FACT. Quote Link to comment Share on other sites More sharing options...
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