grahamc Posted May 8, 2007 Share Posted May 8, 2007 I don't have a Supra that explains everything Quote Link to comment Share on other sites More sharing options...
Wayney 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!! LOL, Cheeky Quote Link to comment Share on other sites More sharing options...
Wayney Posted May 8, 2007 Share Posted May 8, 2007 The car has been the worst decision I have ever made though - FACT. Mate it really hits u hard when u think about the level of debt u are in!! LOL From reading other threads I understand u brought a bad egg, but y didn't u just cut your losses and flog it on rather than folk out and try and get it all sorted? It would of been far cheaper to spend a bit more and get a good on in da 1st place. Lastly mate where did you source yours from, so I know where to stay away from in future? LOL Quote Link to comment Share on other sites More sharing options...
Wayney Posted May 8, 2007 Share Posted May 8, 2007 I've always wondered how some of the guys seem to have an endless supply of cash to mod there cars. I'd love to go Single Turbo & NOS at some stage, but u gotta be realistic, and think u need stability. It's simple. 1) Build a career, get a decent job that pays well with security 2) Pay off existing debts 3) Once your finances are in tack then think about buying the super car. Do it in that logical order and you'll be fine. I'm 27 and this is my first sports car ever. When I was broke as F**k at uni and watch lads my age driving M3, MR2 Turbos, Golf GTI. It made me green with envy, but you gotta do it the right way or else u'll end up seriously in debt!!!! [sAD][/sAD] My main aim now is to raise enough cash for a deposit of a flat or a house in London. So Mods on my car has been put on hold for at least the next 24 months Quote Link to comment Share on other sites More sharing options...
AndrewOW Posted May 8, 2007 Share Posted May 8, 2007 Perhaps not when you calculate it year by year but there's always the chance that you might win a one off 5k, 10k or a mill. Fingers crossed! Quote Link to comment Share on other sites More sharing options...
AndrewOW Posted May 8, 2007 Share Posted May 8, 2007 It's simple. 1) Build a career, get a decent job that pays well with security 2) Pay off existing debts 3) Once your finances are in tack then think about buying the super car. Do it in that logical order and you'll be fine. I'm 27 and this is my first sports car ever. When I was broke as F**k at uni and watch lads my age driving M3, MR2 Turbos, Golf GTI. It made me green with envy, but you gotta do it the right way or else u'll end up seriously in debt!!!! [sAD][/sAD] My main aim now is to raise enough cash for a deposit of a flat or a house in London. So Mods on my car has been put on hold for at least the next 24 months In theory thats sounds good! Mods on hold? How long will that last?! Have Supra = no money! Great! Quote Link to comment Share on other sites More sharing options...
Sheefa Posted May 8, 2007 Author Share Posted May 8, 2007 It's like anything in life with my car. OK, I had a couple of problems at first and got them sorted properly, I didn't expect another load to crop up though as the car drove mint and looked in very good nick. Plus after just having a full engine replacement and brand new hybridturbos under warranty at a cost of £6k, I purchased it for £8k btw, wouldn't you of thought that was a good deal and a good setup for reliability for the future>? How wrong I was. I got it from a member who used to be on here btw. I am now obviously cutting my losses, but unlike some people, I DONT like to sell a bad car with problems to buyers, especially first time ones like me as I was caught out. Quote Link to comment Share on other sites More sharing options...
Wayney Posted May 8, 2007 Share Posted May 8, 2007 In theory thats sounds good! Mods on hold? How long will that last?! Well I'll be doing small tweaks here & there, mainly cosmetic (like dials & gages, but noting drastic like going Single! My main priority is to get my foot on the property ladder. 400 BHP is enough for cruising around London Town!! But only time will tell, if I end up giving into temptation! LOL Quote Link to comment Share on other sites More sharing options...
Havard Posted May 8, 2007 Share Posted May 8, 2007 It's like anything in life with my car. OK, I had a couple of problems at first and got them sorted properly, I didn't expect another load to crop up though as the car drove mint and looked in very good nick. Plus after just having a full engine replacement and brand new hybridturbos under warranty at a cost of £6k, I purchased it for £8k btw, wouldn't you of thought that was a good deal and a good setup for reliability for the future>? How wrong I was. I got it from a member who used to be on here btw. I am now obviously cutting my losses, but unlike some people, I DONT like to sell a bad car with problems to buyers, especially first time ones like me as I was caught out. Good post Greg!! I admire the fact that you didn't give up on your car and just pass the problem on to the next numpty....... I must admit though, the more I hear about your story the better I feel about getting a NA. If mine ever cocks up to the point where it is going to cost me 2 or 3K to repair, I will just scrap it!! I only paid 5K for mine and the three months of enjoyment I have had were worth 5k to me anyway!! I have also got the thought of having a Supra out of my system. Any further enjoyment is a bonus!! H. Quote Link to comment Share on other sites More sharing options...
Mas Posted May 8, 2007 Share Posted May 8, 2007 I've always wondered how some of the guys seem to have an endless supply of cash to mod there cars. I'd love to go Single Turbo & NOS at some stage, but u gotta be realistic, and think u need stability. It's simple. 1) Build a career, get a decent job that pays well with security 2) Pay off existing debts 3) Once your finances are in tack then think about buying the super car. Do it in that logical order and you'll be fine. I'm 27 and this is my first sports car ever. When I was broke as F**k at uni and watch lads my age driving M3, MR2 Turbos, Golf GTI. It made me green with envy, but you gotta do it the right way or else u'll end up seriously in debt!!!! [sAD][/sAD] My main aim now is to raise enough cash for a deposit of a flat or a house in London. So Mods on my car has been put on hold for at least the next 24 months Yeah ......................................... Quote Link to comment Share on other sites More sharing options...
Pete Posted May 8, 2007 Share Posted May 8, 2007 Good work Havard and Pete - some great stories there and looks like you've got things well under control too. Yeah, it only took 15 years though! You'll work it out, try not to worry about it too much. It's only money at the end of the day and as long as you don't affect your credit worthiness you'll get straight in the end. The big step is what you're doing now and saying right, that's it. No more. Then take some action to resolve it. Quote Link to comment Share on other sites More sharing options...
Sheefa Posted May 8, 2007 Author Share Posted May 8, 2007 Thanks Havard, and Pete. Indeed, I wnder why there were quite a few 'older generation' owners out there and now I know why - they're more well off than me! If it all gets too much at least I can top myself - that's a good a get out clause as any........right? No in all seriousness, it really hit me today. Especially when I hate my job so much and would love to leave, but the chances of getting another job with a similar salary with my lack of industrial experience are quite weak, despite being degree educated. Plus, touch wood off to the RAF after my assessment in June so I should hopefully be playing with Rocket Propelled Grenades and SA80s instead of Supras. Thanks all and keep debt free........or don't rack up as much as me anyway! Quote Link to comment Share on other sites More sharing options...
Need4Speed Posted May 8, 2007 Share Posted May 8, 2007 Don't want to sound doom and gloom, but interest rates are set to rise again http://today.reuters.co.uk/news/articleinvesting.aspx?type=personalFinanceNews&storyID=2007-05-08T081012Z_01_HIL438946_RTRUKOC_0_BRITAIN-BANK-RATES.xml. How many people reading this thread had mortgages when the rate was 13.5%? Quote Link to comment Share on other sites More sharing options...
Wayney Posted May 8, 2007 Share Posted May 8, 2007 Don't want to sound doom and gloom, but interest rates are set to rise again http://today.reuters.co.uk/news/articleinvesting.aspx?type=personalFinanceNews&storyID=2007-05-08T081012Z_01_HIL438946_RTRUKOC_0_BRITAIN-BANK-RATES.xml. How many people reading this thread had mortgages when the rate was 13.5%? More Doom & Gloom, interest rates slowly creeping up With petrol rocketing....is recession really on the cards? Coz we ain't had one since the early 90's Quote Link to comment Share on other sites More sharing options...
lexsum Posted May 8, 2007 Share Posted May 8, 2007 people be smart, 1) never pay interest on credit cards - always switch for 0% for 12 months. 2) defer your student loan as long as possible (inflation eats this debt over time!) 3) become self employed, most car "repairs" and parts are tax deductable, same with a big chunk of petrol! Quote Link to comment Share on other sites More sharing options...
juanchan Posted May 8, 2007 Share Posted May 8, 2007 Seeing as I can't afford to get a mortgage on my own just yet I went for the fast car option with the Supra So just a 3k loan for me at the moment. I generally don't count my student loan as a "debt" as such, since the money for it goes before I get to see it, just like tax does. Quote Link to comment Share on other sites More sharing options...
mathew Posted May 8, 2007 Share Posted May 8, 2007 i owe a massive £20 to my mom for last weeks rent and thats it:) although im sure she thinks im still an apprentice and takes pity on me lol got quite a large deposit for my own place but ive got a feeling now aint the best time to buy so im gona hold my horses and chill here for a bit. Quote Link to comment Share on other sites More sharing options...
RedM Posted May 8, 2007 Share Posted May 8, 2007 I just worked out that, if I sold 'our' Supra and didn't spend anything other than the rent, bills, food and didn't go out at all or buy anything unnecessary (magazines, DVDs etc) or by another car then, by living like a hermit, I could be debt free in about 7 years. Quote Link to comment Share on other sites More sharing options...
SteveR Posted May 8, 2007 Share Posted May 8, 2007 I'm debt free as of 8 days ago (Supe loan and Student loan paid off - never had a credit card/etc), but I don't have a mortgage (rent a nice place v cheap from friends) and have bugger all chance of affording a place of my own, probably ever! Stuff it; got my health and a Supra so who cares, for now, eh? Obviously now I've said that the Supra will go badly wrong and cost me a fortune. Doh! Greg - you always have my sympathies! Quote Link to comment Share on other sites More sharing options...
Sheefa Posted May 8, 2007 Author Share Posted May 8, 2007 Thanks steve lol! Good man. How old are you pal if you dont mind me asking and how the feck did you pay your student loan off so quick?! Quote Link to comment Share on other sites More sharing options...
JamieP Posted May 8, 2007 Share Posted May 8, 2007 F**k me greg, you need to get rid of that car sharpish and if i was you id not be taking it on the dragonball, what if something else goes wrong with it? get ya self out of debt asap and get on the property ladder is my advice and later in life when you can afford it get back into cars then;) Quote Link to comment Share on other sites More sharing options...
tbourner Posted May 8, 2007 Share Posted May 8, 2007 F**k me greg, you need to get rid of that car sharpish and if i was you id not be taking it on the dragonball, what if something else goes wrong with it? get ya self out of debt asap and get on the property ladder is my advice and later in life when you can afford it get back into cars then;) That's my plan, sold the supe, bought a house, now living with no cash until it's paid off!! Quote Link to comment Share on other sites More sharing options...
Dragonball Posted May 8, 2007 Share Posted May 8, 2007 Don't want to sound doom and gloom, but interest rates are set to rise again http://today.reuters.co.uk/news/articleinvesting.aspx?type=personalFinanceNews&storyID=2007-05-08T081012Z_01_HIL438946_RTRUKOC_0_BRITAIN-BANK-RATES.xml. How many people reading this thread had mortgages when the rate was 13.5%? Yep I was there... £35000 mortgage (it was a lot in those days!) with missus pregnant and earning £13500... We got through... so will you.. just STOP BORROWING Quote Link to comment Share on other sites More sharing options...
colsoop Posted May 8, 2007 Share Posted May 8, 2007 That's my plan, sold the supe, bought a house, now living with no cash until it's paid off!! Thats my plan for next year Quote Link to comment Share on other sites More sharing options...
Wayney Posted May 8, 2007 Share Posted May 8, 2007 F**k me greg, you need to get rid of that car sharpish and if i was you id not be taking it on the dragonball, what if something else goes wrong with it? get ya self out of debt asap and get on the property ladder is my advice and later in life when you can afford it get back into cars then;) Greg how about sell the Supra and get good old Jamie P to build u a house on the cheap, after all he is the expert! LOL Quote Link to comment Share on other sites More sharing options...
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