Another "what should I buy?" thread (NLC)

[tuscan_thunder]

I'm not a 350Z fan: very thirsty and just a bit 'built down to a price' for my liking.

M3 (especially a CSL, despite it's paddle shift box) would work for me.

Spanner-in-works-time: Boxster S? Image issues I know but a very impressive car.

RX8 was a wee bit 2 dimensional for me.

Z4 has a very poor ride: it lifts wheels all the time which leads to traction issues, hindering decent progress and it also feels very uncomfortable. I know of some who suffer from motion sickness in it (as with modern Audis etc). Good engine, nice box: looks aren't my cup of tea.

[gorrie]

Get a T350... it was on your original list, and will remain one of the lowest to tax in your list, regardless of the fact you are getting a 2003 or later car.

[robin]

Get something boring, put the money in the bank - bad times ahead!!

Only for those in debt!

I think it will stretch a little further than that ... e.g. "only for those who aren't independently wealthy"

Cheers,
Robin

[campbell]

Yep our Classifieds section might get a bit busier before it's over...until we realise no-one else has any cash to buy our prides n joys here either

[kenny]

Get something boring, put the money in the bank - bad times ahead!!

Only for those in debt!

I think it will stretch a little further than that ... e.g. "only for those who aren't independently wealthy"

Cheers,
Robin

Hmmm, can you expand? I am currently house shopping, would you say this is a bad time to buy? Bearing in mind I am selling too.


Feel free to split this into a new topic mods.

[BiggestNizzy]

Hmmm, can you expand? I am currently house shopping, would you say this is a bad time to buy? Bearing in mind I am selling too.

The way I see it and I am an engineer not a financial wizz, it's only a little bit mopre difficult to get a mortgage as the banks are no longer throwing money at you. I also recon your house price won't be as good (my parents are selling a lovely house in Kilmarnock 3 bedroom, garage, fishpond, study etc.) but that is swings and roundabouts as the person you buy from won't either. although I fear the "luxury" end of the market will suffer more.

As for cars (and on topic) stop thinking about sensible ones and go get that bonkers thing you have always wanted

[ed]

Id love a scooby at some point. Bring the noise!

ps Kenwood, I would say if you are looking to buy a better place; sell now and think about buying in a year or so! According to the reports ive heard we are in for a 25% decrease in average house price, with the end of the tunnel being 2010.

[campbell]

In an ideal world, that is also what I'd suggest. Depends if you have flexibility to switch to rented accom for short term...look for good deals on rents just now as well while jittery landlords scramble to ensure their now depreciating assets are at least bringing in SOME income

But overall, it is just about "battening down a few hatches" I think. Particularly where stock market investments are concerned. Those closely approaching retirement need to be worried, sadly, but for everyone else...it's "long term hold" I think!

It's basically more a time to focus on necessity rather than luxury I suppose. So long as you are not overcommitted on your mortgage (high loan to value rates were all to easy to come by until Northern Rock), there is every reason to be able to ride it out.

Start switching off some lights, insulate your attic, get used to the flavours of Sainsbury's Basics, Tesco Value etc, drive with a lighter right foot, turn the heating down one degree, close the curtains, put on an extra sweater, don't let the fridge fill up with out of date foods - use 'em up on time. Etc etc etc!!!!!

[robin]

My personal opinion is that unless you are either in, or selling to, the oil industry you should not commit to any increase in expenditure that is not vital. If you are an investor/speculator/gambler, you already know not to risk money you cannot afford to lose; that said there will be opportunities to make money if you have the skillz and the time to keep your eye on the ball (not me!).

I would guess that we'll see a lot of redundancies and a steep rise in unemployment; the wave of redundancies will trigger a rise in repossessions (or similar; e.g. sales to "community/government" landlords) which will be what forces the drop in house prices - people looking to buy will pick up bargains, so like Ed says, if you have the ability to rent for a few years, that's going to make a lot of sense. I also think it's going to be harder to sell your house for something that you think is fair, so a lot of people will simply do as Campbell says and batten down the hatches and ride it out, praying they don't end up without a job along the way.

Cheers,
Robin

[Edin430]

Major problem we're experiencing at HBOS is -

Lending criteria has got much, much tighter, and costs have went up a lot...
House prices are still falling. Therefore whatever you pay for one now, it will more than likely drop below that price (a good bit below) before it picks up again.
Negative equity. People aren't putting down a higher enough deposit (our analysts are saying 20% should be bare minimum right now in case of recession) therefore when the house prices fall, people owe more to the bank, lose their deposit - and if they need to get out for any reason i.e. redundancy - they are in a catch 22.
General market stability. As Robin pointed out - it is a big risk right now. Majority of people are currently looking at their outgoings thinking they are too high already, and therefore dont want to take on any more debt/risk they dont need.
And general scare factor seems to be another big problem. People are scared of the current climat and its actually in turn making things worse.

Oh what a great time to work for the bank eh?!

Not..

[gorrie]

Start switching off some lights, insulate your attic, get used to the flavours of Sainsbury's Basics, Tesco Value etc, drive with a lighter right foot, turn the heating down one degree, close the curtains, put on an extra sweater, don't let the fridge fill up with out of date foods - use 'em up on time. Etc etc etc!!!!!

Wash your mouth out !!!!

[Edin430]

Get a T350... it was on your original list, and will remain one of the lowest to tax in your list, regardless of the fact you are getting a 2003 or later car.

Oh btw..

Ding.

[robin]

Yes, a T350 would be the correct response to the current situation

But it's all going to be OK - they're going to kick Brown out and get in a new leader - that'll sort it all out - I heard someone say "Bring back Blair" - hmm, that'll work ...

Cheers,
Robin

[Tom]

If it's of any interest, I have a friend in Oxford who's selling a Z3M Roadster. The softtop with the huge straight 6. Well looked after, and he'll prob be open to offers... Fast and comfortable with a softtop

http://www.scottishelises.com/phpbb/vie ... =7&t=17128

[graeme]

Cheers Tom, and everyone for suggestions.

At the moment I'm worried that nothing suggested so far (except the risky TVR options) has any soul, so the decision has been made.

I don't technically NEED to replace my car now. I'm going to share Victoria's Aygo for a few months and watch what car/house/market prices are doing. Also it stops me rushing out now with money in my pocket and buy something just because I can. I'll wait until there's something which really tugs at the old heartstrings. Meanwhile, I'll have some test drives, watch prices, and keep my cash locked away to avoid impulse buys.