Best First Car for under £20k for 19 Year old?

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abc dribble
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#41
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#41
(Original post by FakeNobody)
well at the time I did say I willing be putting 5k aside for insurance? I'm pretty sure that would have covered it.
You do realise how insanely high £5k pa is for insurance, right? An absolute max of £2k is reasonable insurance on a first car, obviously depending on where you live, and even that's for a Golf. Something like a Fiesta will be a few hundred less.
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FakeNobody
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#42
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(Original post by RogerOxon)
I commute in my McLaren. I can't say that it's cheap, but plenty of smiles per gallon.
a Mclaren? damn you must be loaded lol . congrats on such a nice car buddy. I one day want to get a 720s
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FakeNobody
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#43
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(Original post by abc dribble)
You do realise how insanely high £5k pa is for insurance, right? An absolute max of £2k is reasonable insurance on a first car, obviously depending on where you live, and even that's for a Golf. Something like a Fiesta will be a few hundred less.
yeah 5k it kind of ridicolous in hindsight but I was kind of expecting a high price
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hotpud
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#44
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(Original post by StriderHort)
I'd disagree personally, they can do far more than A to B, My sportyish car has been my all time favourite thing for the last 18 months, it's like owning my own roller coaster... the experience i get in terms of joy, comfort, pride... a budget vanilla hatch simply cannot compete. The mopey faces I see on some drivers...

My philosophy is broadly to invest in the things you use most, so an everyday car is 100% something i'll spend on. a driving exp might be a dream for some, but a different thing to ownership. So far my car has cost me less than 1 days rent of a Ferrari or Lambo and I've got waaaay better value.
I completely agree. But when you think about how much it costs you each year in loan payments, depreciation, servicing, tax and petrol, in the long term I reckon you could have much more fun by spending it elsewhere.

But I agree that owning nice things that give you joy is good. But spending £20k on something that will lose half that value in a few years time? No thank you.
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hotpud
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#45
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(Original post by RogerOxon)
Or A to A with a big smile, if you buy the right one ..


That's for each person, who's lucky enough to be able to, to decide for themselves.
Agreed. I smile every time I get in my £250 car. Cheapest motoring I've ever had and if it gets scratched I don't care. Someone drove into the back of my once and cracked my number plate. I asked if he was ok and then went on my way. He had all manner of damage to deal with. I spent £20 on a new number plate. The scratches now tell a fun story. Still works a charm though.
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Final Fantasy
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#46
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#46
(Original post by FakeNobody)
would you say a Mazda 3 is a good choice?


thanks actually a really nice car . I might keep that in mind.thanks!
No worries bro. So far I've had a 530D, M135i, A3 and A4 with the S Line trim and also Mercedes S500, but that one might be a bit too expensive as a first car. Would definitely recommend the new model 1 series, very reliable cars and it'll last you several years, low maintenance.
Last edited by Final Fantasy; 2 weeks ago
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StriderHort
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#47
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(Original post by hotpud)
I completely agree. But when you think about how much it costs you each year in loan payments, depreciation, servicing, tax and petrol, in the long term I reckon you could have much more fun by spending it elsewhere.

But I agree that owning nice things that give you joy is good. But spending £20k on something that will lose half that value in a few years time? No thank you.
Well that's where living within your means comes in. Can be a huge difference between a nice car and a new car.

My car loan payments = £0, I own it
My car depreciation = N/A due to age (02)
Servicing = I do it mostly, saves money and gains knowledge
Tax - Maybe £300/yr
Insurance - £800/yr
Petrol...pretty much universal expense

I think you'd agree i'm in a far more sustainable and better value position than a teen sap who's just walked into an Audi showroom and grabbed 20 plate A5 in Drug Deal Grey on finance... that's lost about £10000 by the time they get it home assuming the police don't pull them
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ReadingMum
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#48
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#48
(Original post by FakeNobody)
yeah 5k it kind of ridicolous in hindsight but I was kind of expecting a high price
£5k on insurance would be an unnecessary annual waste. Stick to something basic and sound which you can insure for a reasonable amount and use the money saved for more interesting things (once anything interesting is allowed again).
My daughter has a VW Polo (the UP! was just too small) which is really nippy and fun to drive. Insurance as a new driver at 17 was £850 but renewal came down to £500.
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mnot
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#49
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Id get a second hand fiesta, Corsa or Golf.

A lot of lease cars are 6 months old, end up getting loaded up with lots of things that add up on new cars but are very useful such as: Carplay, lane change assist, reversing cameras, blind spot monitor etc.

So you can get one of these 6 months old loaded up spec wise and it will be checked over by an official dealer before sale. Its new enough not to need anything mechanical for some time after sale but still has some miles so you wont have a big depreciation dent like with a new car.

But should you wish to spend all £25K on a beamer, thats your choice.
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hotpud
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#50
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(Original post by StriderHort)
Well that's where living within your means comes in. Can be a huge difference between a nice car and a new car.

My car loan payments = £0, I own it
My car depreciation = N/A due to age (02)
Servicing = I do it mostly, saves money and gains knowledge
Tax - Maybe £300/yr
Insurance - £800/yr
Petrol...pretty much universal expense

I think you'd agree i'm in a far more sustainable and better value position than a teen sap who's just walked into an Audi showroom and grabbed 20 plate A5 in Drug Deal Grey on finance... that's lost about £10000 by the time they get it home assuming the police don't pull them
Agreed. But the OP was talking about spending £20k on a car. So after 3-5 years, we are looking at £10k depreciation assuming he doesn't buy a classic in which case he will spend another £10k on servicing.
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StriderHort
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#51
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#51
(Original post by hotpud)
Agreed. But the OP was talking about spending £20k on a car. So after 3-5 years, we are looking at £10k depreciation assuming he doesn't buy a classic in which case he will spend another £10k on servicing.
Yeah but your reply sounded more directed at me, you said 'You' a lot I can obv only reply from my own perspective. My position is essentially that you can get the best of both worlds on a budget if you're smart about it.

There's a lot of space between 'brand new' and 'classic'. My car is the best part of 20 years old and generally tipped to be a classic if maintained... but i'm at a total loss where this £10'000 servicing cost is coming from? How did you arrive at that number? Like if you're specifically buying some 60/70's restoration project that needs a new engine/body or something yeah, but that's at the extreme end of the scale. And you'd need to be a 100% lunatic to invest in something like that as a first car with no restoration skills.
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FakeNobody
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#52
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#52
(Original post by StriderHort)
Yeah but your reply sounded more directed at me, you said 'You' a lot I can obv only reply from my own perspective. My position is essentially that you can get the best of both worlds on a budget if you're smart about it.

There's a lot of space between 'brand new' and 'classic'. My car is the best part of 20 years old and generally tipped to be a classic if maintained... but i'm at a total loss where this £10'000 servicing cost is coming from? How did you arrive at that number? Like if you're specifically buying some 60/70's restoration project that needs a new engine/body or something yeah, but that's at the extreme end of the scale. And you'd need to be a 100% lunatic to invest in something like that as a first car with no restoration skills.
exactly , I feel that other guys reply also came off as kinda bitter.
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FakeNobody
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#53
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#53
(Original post by mnot)
Id get a second hand fiesta, Corsa or Golf.

A lot of lease cars are 6 months old, end up getting loaded up with lots of things that add up on new cars but are very useful such as: Carplay, lane change assist, reversing cameras, blind spot monitor etc.

So you can get one of these 6 months old loaded up spec wise and it will be checked over by an official dealer before sale. Its new enough not to need anything mechanical for some time after sale but still has some miles so you wont have a big depreciation dent like with a new car.

But should you wish to spend all £25K on a beamer, thats your choice.
very constructive feedback , thank you
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FakeNobody
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#54
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#54
(Original post by Final Fantasy)
No worries bro. So far I've had a 530D, M135i, A3 and A4 with the S Line trim and also Mercedes S500, but that one might be a bit too expensive as a first car. Would definitely recommend the new model 1 series, very reliable cars and it'll last you several years, low maintenance.
awesome
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Ooef
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#55
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(Original post by FakeNobody)
who said I only have 25k ?

I'm just very very good at predicting stuff.

I predicted the cineworld stock
I predicted the gamestop fall
I predicted the amd stock
I predicted blink (unreal profits from that btw)
I kinda predicted tesla (brought at $156)
I predicted bitcoin
I predicted eth


this is just off the top of my head , I know I have a few stocks that have also blown insane profits but they are penny stocks so these companies are mainly the more known stocks/crpyto That I have invested in.

I will also hopefully buying a property with no mortgage for my parents by this year and thats my ultimate goal.

But again , Im simply explaining how I got my funds. I AM NOT BRAGGING
So basically you're saying that you became rich because of stocks? Wish I could do that lol but gotta study instead oof.
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FakeNobody
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#56
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#56
(Original post by Ooef)
So basically you're saying that you became rich because of stocks? Wish I could do that lol but gotta study instead oof.
I think its more mindset honestly than just stocks.

You could make 1k from stocks and spend that on a Gucci watch and in 10 years you would have made £0 from that 1k

Or you could reinvest that 1k and make 2k and then reinvest that over 10 years and you could maybe make 500k from that 1k

Obviously, it's not as black and white as this and obviously, you could even lose money.

infact I have this 80/20 rule.

I spend 80% of profits on more stocks

and 20% of fun stuff and living costs.


Also I also buy high-quality food as I believe health is more important than any amount of money but that's a different discussion.

thanks for the reply buddy.
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StriderHort
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#57
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(Original post by FakeNobody)
exactly , I feel that other guys reply also came off as kinda bitter.
Meh, If they've planted their flag in the 'cheapest motoring possible' camp that's it's own set of motivations, I share some of their thoughts towards financed new vehicles... the depreciation + cost of credit kills it for me, and it would grate on me that I didn't own my car.
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Ooef
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#58
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#58
(Original post by FakeNobody)
I think its more mindset honestly than just stocks.

You could make 1k from stocks and spend that on a Gucci watch and in 10 years you would have made £0 from that 1k

Or you could reinvest that 1k and make 2k and then reinvest that over 10 years and you could maybe make 500k from that 1k

Obviously, it's not as black and white as this and obviously, you could even lose money.

infact I have this 80/20 rule.

I spend 80% of profits on more stocks

and 20% of fun stuff and living costs.


Also I also buy high-quality food as I believe health is more important than any amount of money but that's a different discussion.

thanks for the reply buddy.
Cool, I mean it's worked out for you at least but a lot probably lose out like you said. My dream is to get a tesla one day lol it's expensive but I'm gonna work for it cos I just want to experience an amazing car like that.
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FakeNobody
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#59
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(Original post by Ooef)
Cool, I mean it's worked out for you at least but a lot probably lose out like you said. My dream is to get a tesla one day lol it's expensive but I'm gonna work for it cos I just want to experience an amazing car like that.
majority lose money as these people treat investing as gambling, thats why 90% lose money because they think they can invest in anything and get big returns.
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