How did you fund your ISF?

[lex28]

Hello all...

owning a lexus for the past 9 years, from the IS200 to IS220 and now for past 5 years the IS250 i constantly find myself autotrading/ebaying ISF's and having day dreams of owning one..

im in no position to have £20k in my back pocket, but do main dealers offer attractive finances to purchase one?

What made you guys part with your hard earn cash? a good salary or just pure saving from a normal wage?

to own a 5.0 v8 is been a big dream and to be part of this exclusive league...

i am 35 next month and im having a pre mid life crisis and thinking life is about risk and also enjoyment...a car, especially a Lexus says alot about you, even more so when its a ISF

 

 

[rayaans]

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[Stuno1]

i was fortunate enough to be able to buy mine out right. When I bought my lotus and previous cars I got loans from my own bank as their interests rates were always lower than other lenders and dealers. Also, my bank lend for 7 years so low repayments and I can clear earlier when needed. As long as finance or outright doesn't leave you with little no money left over then which ever works for you. 

[steveledzep]

4 hours ago, rayaans said:

Usually, people buy these cars in cash - finance would work out expensive especially with the interest.

Yes, a Lexus does say something about you but if you're financing it what does that say? It says you're getting too big for your boots really doesn't it?

This is for everything - the only thing I have financed is my house and thats because its 10x more than my salary after tax.

Save up, spend wisely :)

 

How patronising !!

[lex28]

Thanks for your input so far guys 

not sure about the comment of being to big for your boots as a lot of people seem to be financing details on new cars or of high value. 

If people couldn't afford the petrol to run it then i agree with the comment..

 

[GibletPH]

5 hours ago, rayaans said:

Usually, people buy these cars in cash - finance would work out expensive especially with the interest.

Yes, a Lexus does say something about you but if you're financing it what does that say? It says you're getting too big for your boots really doesn't it?

This is for everything - the only thing I have financed is my house and thats because its 10x more than my salary after tax.

Save up, spend wisely :)

 

More cars are financed and not bought outright in cash. A recent trip to an Audi dealer showed that the majority of the people buying a car on the day were using finance. We were offered finance but went for the cash option.  

Still, it can't be as bad as driving around with a misplaced numberplate. 

[rayaans]

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[toffee_pie]

most cars you see on the roads are on a finance shchem one way or another.

There is nothing wrong with getting a car on finance, anyway its not like you need to get finance for the entire cost of the car, you can always chip in with 10k or whatever yourself and get finance for the rest.

 

[Stuno1]

Many people can afford finance without it causing any issue. It gets them in to nice cars they can't afford buy outright. I don't see any issue with that as its their choice how they spend there money. Very few people have the type of spare cash required to buy a car outright. Also, is that the best use of funds? Cars are depreciating assets. If you can lodge money elsewhere and get a low APR deal for car finance it may not be sensible to chuck it all at a car. 

[toffee_pie]

31 minutes ago, rayaans said:

I know they are - but essentially they're owned by people who cant really afford them.

I could finance a new Bentley Bentayga no problem - they're only like £1400 a month. Could probably even stretch to 458 at £3k a month, but WTH imagine if I turned up to my workplace in a Ferrari! Essentially some of it will be running through expenses anyway.

Hmm I presume you enjoy blasting personal comments around on the forum? My number plate is deliberately mis-spaced to separate the the name and the word. Its completely readable and have had no issues with police (even after being stopped a few times in the past few years) or in the MOT. Its been like that since 2004.

The whole point is that finance is really for people who cant afford to actually BUY the car, instead they just rent it, somewhat like property renting (which IMO is also a bit weird)

Having a mis spaced number plate is better than rolling around in a £50k Audi parked outside a little house.... or maybe its just me

Next we'll have finance options for jeans and haircuts, or TV's and Sofas.... OH WAIT, forgot about BrightHouse for a second.....

With regard to financing - I can't really see the problem in saving up - its like people have no patience whatsoever. Its not like I just forked out £54k on an RX and £24k on a used IS overnight! It does require some planning but hardly much.

you will be telling us you forked out for your Rolex in hard cash next.

[Krise]

24 minutes ago, rayaans said:

I know they are - but essentially they're owned by people who cant really afford them.

I could finance a new Bentley Bentayga no problem - they're only like £1400 a month. Could probably even stretch to 458 at £3k a month, but WTH imagine if I turned up to my workplace in a Ferrari! Essentially some of it will be running through expenses anyway.

Hmm I presume you enjoy blasting personal comments around on the forum? My number plate is deliberately mis-spaced to separate the the name and the word. Its completely readable and have had no issues with police (even after being stopped a few times in the past few years) or in the MOT. Its been like that since 2004.

The whole point is that finance is really for people who cant afford to actually BUY the car, instead they just rent it, somewhat like property renting (which IMO is also a bit weird)

Having a mis spaced number plate is better than rolling around in a £50k Audi parked outside a little house.... or maybe its just me

Next we'll have finance options for jeans and haircuts, or TV's and Sofas.... OH WAIT, forgot about BrightHouse for a second.....

With regard to financing - I can't really see the problem in saving up - its like people have no patience whatsoever. Its not like I just forked out £54k on an RX and £24k on a used IS overnight! It does require some planning but hardly much.

 

Resident cash buyer from Pistonheads on every forum

 

use whatever means work for you but don't assume that finance is a bad option it works for some and not others

[lex28]

So you paid £78k cash for 2 Lexus models? If so not many people would be in a position to have that sort of cash.

i ask regarding finance as rates are pretty low at the moment via banks.

Your comment regarding you can afford a Bentley at £1500 a month is the point I'm making, as you can afford that a month but you wouldn't have £300k in your hand to buy it outright..by the time you save £300k your dreams by then would change to another super car! 

 

[Tom24]

1 hour ago, rayaans said:

I know they are - but essentially they're owned by people who cant really afford them.

I could finance a new Bentley Bentayga no problem - they're only like £1400 a month. Could probably even stretch to 458 at £3k a month, but WTH imagine if I turned up to my workplace in a Ferrari! Essentially some of it will be running through expenses anyway.

Hmm I presume you enjoy blasting personal comments around on the forum? My number plate is deliberately mis-spaced to separate the the name and the word. Its completely readable and have had no issues with police (even after being stopped a few times in the past few years) or in the MOT. Its been like that since 2004.

The whole point is that finance is really for people who cant afford to actually BUY the car, instead they just rent it, somewhat like property renting (which IMO is also a bit weird)

Having a mis spaced number plate is better than rolling around in a £50k Audi parked outside a little house.... or maybe its just me

Next we'll have finance options for jeans and haircuts, or TV's and Sofas.... OH WAIT, forgot about BrightHouse for a second.....

With regard to financing - I can't really see the problem in saving up - its like people have no patience whatsoever. Its not like I just forked out £54k on an RX and £24k on a used IS overnight! It does require some planning but hardly much.

Just because you don't have the cash in your bank to buy it outright doesn't mean you can't afford it. If that was the case then you can't afford the Bentley or Ferrari you mentioned, or the house you live in. 

Comes across that you have just used this topic to show off how much you earn. 

[The-Acre]

Wow, am I glad I'm not in that league.  I'm so appreciative of all you people who spend vast amounts of money on cars so the likes of me can enjoy them years later for the cost of a nice holiday.  You do us a great service.  Keep it up, we're relying on you!

[rayaans]

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[Shahpor]

Rayaan, you have not done yourself any service in this thread, so perhaps leave it there?

As for showing off, regardless of how long you may have saved for your cars, you say that financing a Bentley for 'only' £1400 a month and you could manage £3k does sound a little like boasting.

For most people, a car is their second biggest purchase after a house, so it is somewhat different from financing a tv, or other goods.

As far as I am concerned, if the person can afford to run the car and pay the finance every month, then why shouldn't that person buy the car if they want it?  It's their money and they do what they want with it.

[Tom24]

Saved what since 1990? You were bragging about financing cars for 3k a month and having a house that cost 10x your salary. 

Just doesn't come across that well pal. 

If no one took out finance the car market would fall flat on its arse. 

[Shahpor]

1 minute ago, Tom24 said:

Saved what since 1990? You were bragging about financing cars for 3k a month and having a house that cost 10x your salary. 

Just doesn't come across that well pal. 

If no one took out finance the car market would fall flat on its arse. 

Beat you to it

[lex28]

so say I have 250k in the bank is it best to pay for a whole house for a buy to let or use the cash to put down deposits to buy 5 houses?  

Buying something outright isn't always the best decision even with cars. 

 

[emjay82]

I thought this topic was likely to result in some pretty sad replies. It has. If you can afford it cash or 100% finance doesn't matter......

[rayaans]

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[GibletPH]

2 hours ago, rayaans said:

Hmm I presume you enjoy blasting personal comments around on the forum? My number plate is deliberately mis-spaced to separate the the name and the word. Its completely readable and have had no issues with police (even after being stopped a few times in the past few years) or in the MOT. Its been like that since 2004    

I was on a wind up as I assumed you were too with your earlier comments but it seems maybe you were being serious. Ah well, maybe people financing cars to look good really is as bad as people misplacing plates just so everyone know that they are a doctor. :-)

[rayaans]

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[GibletPH]

Just now, rayaans said:

Most people would think you're stalking me......

Not really, I'm sat bored on a train and I figured if you were going to come across as a crass arse with your comments then I'd try to wind you up. All the best 

[rayaans]

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