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Bit of a car change dilemma

6K views 67 replies 29 participants last post by  Quattrodave 
#1 ·
Afternoon all,

I currently find myself in a bit of a car based dilemma.

I've got my 40th this year and I was planning on buying myself something nice. I was originally looking at a rather nice Hublot watch but as expected before too long I got thinking about cars.

When originally choosing my car in 2016 I had two cars in the final running. The M140 I chose and the V8 mustang which came a close second.
Nearly three years down the line I find my eyes wandering to the mustang again, especially as they have a limited edition Mustang Bullitts. Now this was easy to fend off as I called up about the Bullitt only to be told all 350 sold in a day in 2018 and even those buyers had a years wait!

Just for fun I arranged a half day with a mustang from another Ford dealer (something the original dealer refused to entertain even so much as a small detour from their 5 mile route!). In short it was bloody great, the V8 sound is nothing short of epic and the seats are about the most comfortable car seats I've ever sat in, combined with the looks and on my test run of my commute along 50mph average speed camera'd motorway it managed 31mpg! Oh and the cost of insurance is approximately half that of my M140!

I'd more or less decided that I'd look to get an ex-demo or new one in six or so months time.

Dropped the car back to the dealership and as I was chatting with the sales guy he dropped a brochure infront of me. What did it have on the cover, a bloody Bullitt!

"You're taunting me" I say, "You know that's the one I really want". The sales guy stands up and asks me to follow him. We walk out to the back of the building and what did they have there, a Bullitt delivered just the day before.

He tells me that they called the buyer that morning only for him to say he can no longer afford the car and if I wanted it it's mine. Literally the only unsold Bullitt in the country and I happened to wander into the place that had it!

Course I want it but the issue is I was hoping to order one with a decent lead time so I can pull together a decent chunk of the cars cost and to sell my M140 to fund it.

As it stands though I either need to find £50k in the next week, take out Ford finance at some silly rate or let it go and buy a used one when I have the funds. I'm generally debt averse hence buying my current cars cash.

These are currently selling second hand for 5-10k above list so waiting and buying second hand won't actually save any money and it won't be quite so special being second owner.

Really not sure what to do! :S
 
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#3 ·
Will need to check that. Taking their finance would be £600pm with £12k down and £22k after 38 months, meaning £7k interest!! Think I just need to rationalise it. Another thing to factor is if I buy this I'll need to fund a new kitchen that my wife wants! :p
 
#5 ·
sir richard large said:
If it's about Hublot vs a car, always the car.

Now maybe it was IWC, Glashuette, Dornblueth, Breguet, or something of that ilk....tougher decision
Haha - it's one of their more subtle ones. Their classic fusion titanium green with steel bracelet (not the rubberised alligator skin!). Frustratingly the colour would match the Bullitt almost exactly!
 
#6 ·
If there's no early prepayment penalty, then it won't hurt to take the loan now, and pay off in big chunks later ... by selling your M140, kidneys, meth, or whatever other means you would have taken.

Interest assessed should always be on current balance.

So your only "hit" from the high interest is from the higher initial balance for whatever duration you had planned for this lead time.
 
#10 ·
The Bullitt is a sensational car and you are exceptionally lucky if you can buy one with little or no markup. Go for it! :)

It will depreciate alot less than an M140i. Screw Ford's finance. Speak to a company like Magnitude finance or others that specialise in premium/prestige cars. They will give offer mudh more attractive APR than Ford. You can also use an interest free credit card or low interest low to finance some of the car's value.
 
#12 ·
Are you saying you could buy this for £50k now and sell it for £60k next week if you wanted to?

If so, and you don't want to buy it, where is it? :D
 
#16 ·
Quattrodave said:
Will need to check that. Taking their finance would be £600pm with £12k down and £22k after 38 months, meaning £7k interest!! Think I just need to rationalise it. Another thing to factor is if I buy this I'll need to fund a new kitchen that my wife wants! :p
Don't be silly now. Do you think Steve McQueen would have given a ****e about a new kitchen :D
 
#17 ·
Turns out my own bank will do car loans at 4%, so the difference between the small loan I have now and the one for the Bullitt is just shy of £300/month. If I cancel my company share save scheme (as it's doing rubbish at the mo that makes it only £200/month more...

I'll see if it's still available in the morning!
 
#19 ·
Quattrodave said:
Turns out my own bank will do car loans at 4%, so the difference between the small loan I have now and the one for the Bullitt is just shy of £300/month. If I cancel my company share save scheme (as it's doing rubbish at the mo that makes it only £200/month more...

I'll see if it's still available in the morning!
Do it. It's clearly meant to be.

The 140 is a nice car, but a rare Mustang that you seem really taken with is something your heart needs. Get it bought.

Sod the kitchen....it's easier to ask forgiveness than permission! :lol2:
 
#21 ·
Quattrodave said:
Turns out my own bank will do car loans at 4%, so the difference between the small loan I have now and the one for the Bullitt is just shy of £300/month. If I cancel my company share save scheme (as it's doing rubbish at the mo that makes it only £200/month more...

I'll see if it's still available in the morning!
Some great man-maths going on there - you make me proud to be a fella :)
 
#26 ·
Quattrodave said:
Hawaii-Five-O said:
Quattrodave said:
Well that Bullitt is no longer for sale...
Shame..... unless you've bought it?

Absolutely cracking looking car. My mate has the V8 in black. Big b*stard (e.g. it's no MG Midget) :lol2:
Maaaaaaaaaaaaaaybe :eek2:
Get it :thumbs:
 
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