Car Thread II

[Victor Mildew]

Helps me see at night

Are you one of those people who has fog lights on all the time?

[Death's Head]

Helps me see at night

Are you one of those people who has fog lights on all the time?

These people are professional rally drivers, shut the strawberry float up.

[Rightey]

My friend who works for Ford recently got a new Explorer, it's the top end model and I got to test drive it. 3.5L twin turbo engine which produces 365hp. It was very nice with almost no turbo lag.

Sadly for him it's already been in the shops 3 times because of some engine problems. He was worried it might have been a lemon, but it seems to be ok now.

I was surprised when he told me only about 40% of cars that are assembled pass quality control in their first go. But I guess with how complex they are now a days it's just inevitable that more things can go wrong.

[Oblomov Boblomov]

I never come in this thread, so sorry if it's already been discussed at large.

Anyone thinking of picking up a Tesla Model 3? I am hoping to have one by the end of next year, which means I probably need to put a reservation in at some point over the next few months.

I'm thinking black:

[Death's Head]

Anyone thinking of picking up a Tesla Model 3?

I've never considered a Tesla before as I'd assumed they would be very expensive. This seems to be priced at $35K which doesn't seem terrible, but we will have to see whether this becomes £35K or something lower. I'll probably be thinking about changing a car in around 2-3 years so I may throw this into the mix, although 215 miles range per charge seems very limiting.

[Oblomov Boblomov]

Anyone thinking of picking up a Tesla Model 3?

I've never considered a Tesla before as I'd assumed they would be very expensive. This seems to be priced at $35K which doesn't seem terrible, but we will have to see whether this becomes £35K or something lower. I'll probably be thinking about changing a car in around 2-3 years so I may throw this into the mix, although 215 miles range per charge seems very limiting.

Don't forget the green subsidy! I can't remember exactly what it'll be but I think we'll be looking at around £6-7k off. If this comes in closer to £30k, you could be picking one up sub-£25k.

[rinks]

Does that include VAT?

[Oblomov Boblomov]

I think so. Can't say for certain...

Just found this link on pricing: http://www.techradar.com/news/car-tech/elon-musk-reveals-tesla-model-3-uk-price-1313970

[Lagamorph]

I'll probably be considering a Tesla Model 3 in about 2 years or so.
My TT is only just under a year old, but it's Diesel which they're starting to crack down on now. I work in Leeds as well and Leeds Council are hugely anti-car, so if anyone is going to start introducing Diesel taxes to drive to cities then they'll probably be amongst the first. So 2 years is the plan, but if Leeds Council start hammering Diesel before then I might have to move things up a bit.

My commute to work is 75 miles each way, but there are electric charging points at the car park I use. So long as I can comfortably get at least 200 miles out of it, then I should be fine to get to work and back on a single charge, then will probably get a charging point fitted at my house for fast charging each night. I can't rely on definitely getting a charge point at work after all, especially if uptake of the Tesla is fairly good as there's only 2 or 3 spaces. Really gutted that I didn't take up a government scheme a few years ago where they were giving away free charging points. I always meant to call up and organise it as it was right after I moved into my house, but never got around to it.

[Rightey]

I have a friend who is planning on getting one, but apparently is holding off pre-ordering for now as they are set to come out with some big updates to it fairly soon.

Also my search for a car continues. I think I've narrowed it down though. Basically looking at either a Mazda CX-5, Subaru Outback, or the Chevy Equinox.

The Chevy only makes the list because it is on a pretty big discount right now, I count get one new for about $22K, whereas I'd be looking at a 2015 Mazda and an even older Subaru.

Quick question, how do people normally calculate their car budgets when buying with cash? I've looked online and found suggestions but they're only for financing (total car costs should not exceed 20% of your monthly pay, always put down at least 20% of the cost of the car, never finance for more than 4 years etc.). Is there anything like this for when buying with cash?

[Death's Head]

Not sure I understand the question. If paying with cash, cost of car must be less than the amount of cash you have. [emoji1]

[Kezzer]

In most cases cash is usually supplied via finance - e.g. a bank loan

At the end of the day when paying with cash, the main principal is: can you afford it? / do you have the capital to spend all at once ?

The only difference with finance is you spread the cost ( ... and pay a bit more for the privilege )

Edit: Also there is no rule on how long you should finance, it is all down to the individuals circumstances.

- However, in the UK you can only finance a car up until it is 10 years old e.g. buy a car from 2010 - you can only finance it for 3 years Max.

[Rightey]

What I meant is that I want to buy the car with money I've saved up. But I wanted to know if there is a general rule about roughly how much you should spend as a percentage of your income/rate of saving.

For example lets say you are able to put away $1000/month in savings. You already have some savings from before, say $40,000. In that case how much should you spend on a car?

I don't think it would be smart to spend your entire savings on a single purchase as you always want to keep something in reserve.

Scenario two: You have a lower rate of savings ($300/month) and have a larger sum saved up, lets say it's $100,000. Is it wise then to say you can safely spend $60,000? Again I think it wouldn't be a good idea, as it would take you so long to build your savings back up.

So my question is if there is a calculation to figure out where the sweet spot is. Something to help you figure out how much you should spend based on your rate of saving and your total saved up.

[Death's Head]

I think that needs to be down to each individual. You know what your monthly outgoings are and you know what the minimum is you'd like to save each month. The difference is your budget....

[Kezzer]

tbh Righty there never is a 'sweet spot' when it comes to cash or finance - as deaths head has said; it's down to the individual.

In principal, if you have the money in hand use it. Don't get stuck into a finance agreement when you don't need to.

[rinks]

Shall we make up a rule to help Rightey? My opening bid: Don't spend more than your annual salary on a car.

[Poser]

Shall we make up a rule to help Rightey? My opening bid: Don't spend more than your annual salary on a car.

Poser's rule: never buy a car that is less powerful than your previous car.

My cars' bhp, in chronological order: 54, 72, 85, 168, 168, 225, 227, 300...

[rinks]

Admirable, but where do you go next? And then after that? I can imagine you in 20 years, driving around in something out of Mad Max.

[BOR]

Shall we make up a rule to help Rightey? My opening bid: Don't spend more than your annual salary on a car.

Poser's rule: never buy a car that is less powerful than your previous car.

My cars' bhp, in chronological order: 54, 72, 85, 168, 168, 225, 227, 300...

Hmm... I sort of agreed with you.

Mine was -

70, 150, 120, 182, 190...

[False]

89, 150/185, 225/270, 200, 180, 210, 305