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Discussion Starter · #1 ·
OK guys, here's the situation: the girlfriend and I have been living together for a few years now and everything is going fine [:)] We both want to buy a place, but house prices are hideous down here, so we are being patient and just looking for now. Also my girlfriend is only on a temporary contract until August, chances are it will be made permanent, but we aren't sure yet.

Now, we have both wanted a R32 for ages and now she is working in one place and not having to travel miles somwhere different every day, we could go down to one car. Meaning we could trade in my Golf and her 6N2 Polo against a R32. But, is this really wise?! We could manage logistically with one car, obviously running costs are going to go up over the gold and the polo and we would have to borrow the remainder (about 5k).

Some people are saying do it now before you get a mortgage, others are saying just save and dont get the car. We realise that the R32 would have to go when mortgage time arrives, but that could be a year or 2 yet. We are both saving some every month and should still be able to if we are splitting the running costs of the R32. I see that if we buy one for for 14/15k and keep it for a couple of years, it should still be woth 8/9 maybe 10k. That would allow us to go back to a nice sensible diesel and have some left to back towards deposit/fees etc. If a house becomes available sooner, then the car should be worth more and we can pay off the loan and still be in a reasonable position.

Sorry for the long post, just wanted to get some more ideas! Are we crazy? Or are you only young once?! [<:eek:)]
 

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You could save for a house but...

Life is too short and you only get one crack at it (well down here anyway lol) as long as you can afford it and put some money away for mortgage/deposit and have a bit of savings, id say go for it!

My two cents (for what its worth)

Noel
 

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Do it. You live once. You could spend another 2 years saving and not enjoying the money you work for and find that houses have gone up 30% and your still in the same position as you are now, i.e. your savings have gone up, but so has the price.

Savings always a catch 22 situation when your saving for a deposit as over the past 4-5 years, people have seen their 10% deposit drop to 8% then to 7% and then to 5% even though they have been adding to it.

I went out in mine earlier and had a good drive, theres nothing quite like it to be honest until you come up the backside of a nissan micra! I always bought mine with the intention of keeping it for 6 months - 1 year and selling on and the intention is still there after 4 months as its simply not a car that you can shut the door on and forget about. I did look at many other cars, both myself and a mate spent pretty much a day looking for others, but on our way home, an R32 came past on the motorway and I just couldnt think of anything else that pulled me quite as much. There are things about it that annoy you. I would really advise a test drive in one. Over sensitive throttle, light clutch with a minimal biting point and very harsh ride can get to you when you just want to get home, but on the other hand, like earlier, the grin on my face was massive! I'm hoping for some snow and an empty carpark [:D]

Have you been in one yet and more importantly has your wife / girlfriend?
 

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Get a house. Are R32's really worth the prices they command? I think not, but depends what floats your boat. A tuned 1.8T will be as fast and look the same for much less.

You will lose money on a car which could help put a bigger downpayment on a place = lower repayments.
 

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Get a house. Are R32's really worth the prices they command? I think not, but depends what floats your boat. A tuned 1.8T will be as fast and look the same for much less.

You will lose money on a car which could help put a bigger downpayment on a place = lower repayments.
A tuned 1.8T may be as fast, but still will not be 4 wheel drive, will not look like one, will not have the same suspension setup, will not have the same sound, will not have 3.2 litres, will not have the interior etc....

Its a completely different car, I've owned both.

Try taking your tuned 1.8T round a wet corner at speed, then I will do the same in the R32 but go 20mph faster. Guess who will hold the road!

If it was solely due to the speed, I would have bought a cheaper honda civic.

And no, not having a pop mate! [;)]
 

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a car over a house??????????????????????you really need to ask?!?house  EVERY time mate! not many cars go up in price!
 

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Get a house. Are R32's really worth the prices they command? I think not, but depends what floats your boat. A tuned 1.8T will be as fast and look the same for much less.

You will lose money on a car which could help put a bigger downpayment on a place = lower repayments.
A tuned 1.8T may be as fast, but still will not be 4 wheel drive, will not look like one, will not have the same suspension setup, will not have the same sound, will not have 3.2 litres, will not have the interior etc....

Its a completely different car, I've owned both.

Try taking your tuned 1.8T round a wet corner at speed, then I will do the same in the R32 but go 20mph faster. Guess who will hold the road!

If it was solely due to the speed, I would have bought a cheaper honda civic.

And no, not having a pop mate! [;)]
4wd or not, you are not going to go round a corner any faster in an R32 than a 1.8T (with reasonable suspension) in the wet due to lateral grip. Where an R32 will make gains over a 1.8T on a wet corner is when traction pulling out of a corner becomes a factor. 4x4 does not mean more lateral grip.Therefore an R32 will corner at similar speed, but be able to pull out of the corner faster.

Also, an R32 will win on 1st and 1nd gear grip in the wet. Look at this to see a V6 4 mo nail a mapped 1.8T Golf at the line in the wet, and how the 1.8T thereafter wastes the V6 (including Keith missing 3rd gear in the 1.8T for the 63rd time that day [:p])

All you need for a 1.8T to look like an R32 are the bumpers and wheels. Sound, well granted not much can be done there nor straight line grip in the wet, but if you want a fast 4x4 on a budget, get a Subaru.

Still reckon a house is better than any car though tbh.
 

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I'd say that although its highly likely you can corner faster in an R32 than a 1.8t , you would be easily over the speed limit in the 1.8t before the grip became an issue so it depends how fast you want to drive.

Save the money and continue to run two cars, if circumstances change and you or your partner endup changing jobs then you will need asecond car again, you would be reluctant to let an R32 go once you had one and would then need to get a further loan for a second car.
 

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To be asking the question in the first place suggests that you don't have an ounce of common sense, but as others have said it is a no brainer.

Agree with Allen, my tractor engined golf has held it's own against various R's on windy, wet roads, on quite a few occasions.

Plus R's and quattro's are for pussies. Give me an LSD equipped fwd car anyday over a 4wd.
 

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Yes but you have put a standard car next to a modded car. That 1.8T, whats been done to it? And more importantly, how much have the mods cost including insurance?

Why spend money trying to make a 1.8T look and feel like an R32 when they can have the real deal?

A house is most definately a very good purchase. However, as they are not looking to purchase for 2 years, things are a bit different. He is not saying 'House or R32'. He's saying can we afford an R32 while we save towards getting a house in a couple of years.

I do knwo someone virtually (ie online) that has saved for 3 years, but like I say, he saw his savings going backwards, i.e. he was saving as hard as he could to get a 10% deposit (talking 18k) and the stamp duty and solicitors fee's. Every month, his savings were worth less in terms of buying a house as house prices rose a lot faster than he could ever save. Last time I spoke to him he was at 15k. He now need 25k JUST for the 10% deposit on the same house (well not the same one, but same road and same kind of build etc). So will need 30k and not his original 21k.

So he's been saving all this time, and he's only half way there instead of nearly there. All this time, he's renting....

He wanted to go on holiday with his now ex but wouldn't because it would have taken a grand of those savings. And now wishes he hadn't been so stubborn with his money as like he says, you only live once and hsi insistance on not going on holiday was part of the break down of his 4 year relationship.

So what's he got for all his saving for 3 years? Money in the bank, and an ever further away prospect of a 10% deposit. BUT he won't go for a 95 or 97% mortgage. So he's wasting his time really, so his problem.

Like I say, you live once. If you were looking to buy a house in the next 6 months, then fine, my answer would be no save the money for doing it up.
 

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Is there a house owners club on the web ? do they discuss things like"can i tune my central heating" "is a dfs sofa better than a leatherland one " ? If you don't get the R32 now you'll be wondering in a few years time IF ONLY & looking enviously at the R32 driver going past you.I had the house & a boring car now i've got my Golf 1.8t i love driving it & being out in it could never say the same bout my house.btw i'm no youngster either so i'd say enjoy the R32 now and save for the house you'll enjoy driving round in it looking at houses
 

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That 1.8T was Star mapped with a full Milltek and a K&N panel filter.

I agree you would not make a 1.8T in to an R32, and we all know the individual merits of both cars. ? for ?, you are gonna get a faster 1.8T than an R32, period.

Don't get me wrong, I am not a killjoy and spent ?10k on a new R1 and some tuning parts almost 2 years ago, but that ?10k would have made one heck of a dent in to my mortgage. In hindsight I would have been better with the extra money in the mortgage, but boy, I have had fun on that bike. However, I now think I should have got the weaker/slower R6 which realisitically, is every bit as fast as the R1 from A to B. Money saved would have helped with the downpayment. This is the same deal here - Yes an R32 has grip, noise and one or two other benefits over a 1.8T, but you can get a cheaper version which is just as fast for much less - a happy medium.

However, if plans are being made to buy a house, it would be unwise to take on the financial burden of a car that is likely to lose money when it could be used to increase a deposit. Prices are rising at a steady rate upward with no sign of stopping. Get on the ladder as soon as possible. My property increased by 50% in just over 1 year, and it looks like it is heading for 100% increase in 3.

[/?0.02]
 

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One mans opinion. Maybe they will crash, but maybe they wont. If they dont, they will be renting for a long long time. Not a thing I would like to be doing especially as a mortgage can be had for the price of renting.
 

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One mans opinion. Maybe they will crash, but maybe they wont. If they dont, they will be renting for a long long time. Not a thing I would like to be doing especially as a mortgage can be had for the price of renting.
Depends where you live. I know for a fact as I looked into it that I could not rent for the same price as a mortage. Rent would be around ?600. The mortgage at 10% would be around ?987. This was when I last looked before I bought.

If prices do crash which I personally believe they will within the next 2 years (just personal belief) then imagine buying at the peak and 2 months later your house is depiciating. Your then stuck in negative equity and unless your willing to ride the wave, your knackered.

Anyway, this is digressing a bit!

So, imagine buying a house at the peak ,it depriciating and you never ever being able to get the R32 and stuck owing 200k on a house worth 160k [:D]

Get the R!

Theres 2 ways to think of this.... prices could still continue to rise along with inflation and interest rates, which with you saving for the deposit, would leave your money in percentage value would be worth less than it is today. But you would have an R32 and at least that saving has paid for something you obviously want.

The other way is that interest rates continue to go up, inflation does, buy to letters start pulling out (which has already started happening), more properties on the market, people needing places to live, but cannot afford the mortgage which ends up in empy properties, which means less demand. Developers will no longer be buying to develop, house prices dont go up because of that. All of that means prices fall and a crash happens.

In this scenario you would have the R32 and your savings would equal a higher percentage. You can release the R32 cash and put a bigger deposit down on a cheaper (if they crashed) house.

The only way you'll really lose if you did buy the R3 is if prices stayed flat, as you would have decreased the percentage of your deposit. But, they has NEVER since about 1950 been a period where house prices have stayed flat.

I'm also looking to buy in 2 years time roughly (already got one) which is why I feel I can put this angle on it. I can buy now, but risk it, or risk it and buy later cheaper, or again, not buy and watch prices fly up and no longer be able to buy a second home.

I still have the R32 though and do enjoy it. If and when kids come along etc etc etc, I will have to be sensible, but at least I will have done it.
 

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Depends where you live. I know for a fact as I looked into it that I could not rent for the same price as a mortage. Rent would be around ?600. The mortgage at 10% would be around ?987. This was when I last looked before I bought.

If prices do crash which I personally believe they will within the next 2 years (just personal belief) then imagine buying at the peak and 2 months later your house is depiciating. Your then stuck in negative equity and unless your willing to ride the wave, your knackered.
On the other hand, you will have spent ?600 x 24 (?14,400) for nothing over 2 years renting and frittered away that ?387 x 24 (?9288) on something like a car.

What if 2 years became 4 years? That would quickly become ?30,000 lost on renting and ?50,000 that could have been in a mortgage.

Say houses fall in 4 years by 25%. A ?200,000 house is now worth ?150,000. Who is worse off?

Speculation is a wonderful thing and nobody is right or wrong. I would still get on the ladder. All the immigrants need places to stay therefore demand for houses is high and prices will remain high as a result. I would be surprised if there is a crash, but even if there is, property will always bounce back up in value.

The situation you pointed out above is very common with cars and loans. Most people pay a lot more for there car than it is worth toward the end of their loan.
 

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Depends where you live. I know for a fact as I looked into it that I could not rent for the same price as a mortage. Rent would be around ?600. The mortgage at 10% would be around ?987. This was when I last looked before I bought.

If prices do crash which I personally believe they will within the next 2 years (just personal belief) then imagine buying at the peak and 2 months later your house is depiciating. Your then stuck in negative equity and unless your willing to ride the wave, your knackered.
On the other hand, you will have spent ?600 x 24 (?14,400) for nothing over 2 years renting and frittered away that ?387 x 24 (?9288) on something like a car.

What if 2 years became 4 years? That would quickly become ?30,000 lost on renting and ?50,000 that could have been in a mortgage.

Say houses fall in 4 years by 25%. A ?200,000 house is now worth ?150,000. Who is worse off?

Speculation is a wonderful thing and nobody is right or wrong. I would still get on the ladder. All the immigrants need places to stay therefore demand for houses is high and prices will remain high as a result. I would be surprised if there is a crash, but even if there is, property will always bounce back up in value.

The situation you pointed out above is very common with cars and loans. Most people pay a lot more for there car than it is worth toward the end of their loan.
There were some interesting statistics out. Immigrants cater for 0.8% of the total market. And immigrants were classed as anyone entering the country, not just people looting it on a train! Most rent.

Also, immigrants are mostly based in certain areas of the country, London, Yorkshire being an example. Immigrants will make no difference whatsoever to the state of the houses in cornwall.

Again not having a pop! But this is the last time I'm gonna say it! [;)] (Can you see how on edge you got me!!) Jst healthy debate!

Yes its all a gamble, in the long term house prices will rise and car values will fall, thats a given.

But it's the same with anything. If you love holidays for instance do you not go ever because of commitments back home? Or do you enjoy your life which you have once and have a bit of fun sometimes? I honestly think if both the poster and his girlfriend want this, then it's something they should do.

I wouldn't agree so much on the one car thing though and that would be my downfall. Maybe consider paying less for the R and getting a 500 quid decent engined diesel runaround (like a MK3).

Theres actually for instance an R32 on ebay at the moment with 108k on the clock. In 2 years time, a lot more R32's will be approaching this mileage, so could be a cheap R32 if you don't do too much mileage. I don't know enough about how those kind of miles on an R would effect it in other ways though.

So theres always different angles to look at it. Should think it will go for about 11k which means the 500 quid diesel is well within sight. Best of both worlds? (apart from the obvious mileage)
 

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Discussion Starter · #19 ·
Wow - this really has raised a debate! Once we got the 2wd vs 4wd thing out the way there are some really interesting points
there guys, thanks. W36 EJ0, I can see clearly which corner you are
sitting in and you back it up with some very good arguments/factors.
Looks like the majority of other members think I must be off my head
even considering this! [:O]

I think some people are missing the point though, I'm not asking R32 vs house, because that IS stupid and I would be off my head considering it. What I'm saying (some people have understood me [;)]) is that we both keep saving, cut back to one car and run the R32. I've done some budgeting and calculations already and on paper we should be able to afford it! eek!

Obviously not having owned before I am a bit of a novice when it comes to the housing market, I know that we need to put money away for a deposit and we already have some saved up; that is staying exactly where it is and will continue to be added to, we're hoping to have around 10% deposit for something cheap down here within a year/18 months. IMO house prices are just plain scary right now, some people are saying they will go up, others that they will crash. I couldn't bare to spend 150k on somewhere small down here in a years time and end up in negative equity, but on the other hand the longer we wait, the more they could go up. It really is a gamble, but I do get the feeling that we should get on the ladder as soon as possible.

Back to the car, yes I have been out in one! But it was AMD stage2 with 19 inch BBS LMs [:O] The noise was terrific, and the force with which you're trown back into the seat was something else. Yes the torque of my diesel is pretty high now, but the sheer speed of acceleration in the R32 was something else. W36 EJ0, did you drive many? Were you simply blown away by it? My girlfriend hasn't been out in one yet! I hope it doesn't scare her off, I think she will get a shock after a 1.4 16V Polo!
 

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My 2p worth.....

I personally would get on the housing ladder as soon as you are both able to, get yourself settled in the routine of a mortgage, council tax and utility bills and once you've 'cut your cloth to suit' so to speak you will know how much disposable income you may or may not have for the purchase of your dream 'R'....

I'm assuming that's there is no real problems with either cars you have now and like most people you just want a change and to treat yourself! this is fine and i have done this same myself twice in the last year lol! With that in mind the cars you have now are not in dire need of replacement and could be used until you buy a house, get yourself sorted with your monthly outgoings, and then buy an R32..

Obviously it's a very personal choice and there are many valid points for a housing market rise or crash, but imo you would be much better off thinking with your head rather than your heart on this one mate [;)]

I get a feel good factor everytime i come home to my house after 4 years of being in it.... Every car i've owned no matter how fast or how great the soundtrack has been just a car after the novelty has worn off and you end up wanting a new one lol.. [:D]
 
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