1998 (S) 45,000 Mile Sterling Auto -SOLD PLEASE LOCK /DELETE

[Yam]

Just got back from a month in NZ.
This is a suprise.
You will be hard pressed to find another like this......look at my Vitesse I sold last year, I have not seen anything as good since yours
Russell, I regret selling mine......you will too.
If you can, at all, keep it.
I would take it in a heartbeat......but I may be off permanent to NZ if things fall into place.

Regards Yam.

[stanker]

Cheers Ian and Simon much appreciated - oh dear hopefully ive not given you too much work Ian mate lol.

What do you mean, lol!!, poor old soldier with two bad shoulders from carrying an A41 Radio, DON'T GIVE IT A SECOND THOUGHT!!!

Have a look at item number 200674363908 on ebay.

[Stewart]

I'd really not be house buying ATM. Keep the car and wait a while yet, the current financial situation is nothing like over and won't be till house prices have fallen to sustainable levels or inflation has eroded them.

It's faily simple economics, to get out of this we need to make things again, to do that you need employees, to get those you need to be able to pay them enough to live soemwhere nearby.. High house prices are bad for the economy as they price the UK out of the global market compared to other countries. The current situation proves the service based economy DOES NOT WORK.

The current situation is the property developers have a lot of expensive stock, and there are no first time buyers (priced out or no deposit). A lot of members of a certain party also own properties. They also know no one can affrod to buy, so their latest plot to prop prices up is to either sell you half the house and rent you the other half, or to give you a loan to act as deposit this is mearly to delay the inevitable drop. This may come as a crash or just inflation erosion but it will happen. My guess is as soon as they have their money out these 'offers' will die

I no longer have a deposit.. I have 5 acre feild instead. When the relaxation of planning law comes to pass house prices will either fall or that feild will rise. This will however be delayed, as we are seeing, till the powers that be have disposed of the excess property portfolio they have by the above methods. The delay would not have happend had they got away with selling off the forestry commision land... Me cynical? never!

[scoobyh123]

Have a look at item number 200674363908 on ebay.

That would be this SD1 2300 then? Yours by any chance?

It's very nice but for me 2 things put me off - one it's red and secondly it's a straight 6. Nowt wrong with those engines when they're running right but neglected oil changes and/or lack of engine flush causes the oil pressure restrictor valve to clog in the top of the block, depriving the camshaft bearings of much needed lubrication and resulting in seized cam bearings, bent valves etc. Once upon a time i used to spend my spare time refurbishing such cylinder head assemblies with some special tools i made to remove the rocker shafts. Most of the time the camshaft could be gently drifted out and would sometimes just slide out with a bit of WD40 and a wiggle. Clean up the burrs on the bearings with some fine wet'n'dry and the camshaft journals,, clean the valves, lap them in then set the clearances with shims and a micrometer. Quite labour intensive but well worth doing. Never had one come back and sold a lot!

But i digress! If it was a V8 and any colour but red i would be desperately trying to raise the money for that SD1!

Stewart - i totally agree with what you've said about house prices needing to fall and i'm sure they will which i hope Russ will keep in mind! Could well be Russ that your dream house with garage is out there and the price will fall enough in a month or so enabling you to keep "Dr P"!

[Very Tall Brad]

Stewart - I think you may be wrong.

House prices will stay where they are - they have already fallen enough. As soon as lenders are allowed to lend more freely and have the restrictions imposed upon them by the Financial Services Authority loosened, the swell of people still wishing to buy/move/sell and then able to do so will create a supply issue. Simple economics of supply and demand and house prices may even go up. This has happened before in America and many European countries since 1955.

Sure, there will be many areas where this won't happen due to high unemployment (such as in places such as South Wales and Stoke on Trent) but overall this has to be the case.

As regards whether to buy now or next year or whenever...there is no such thing as good timing. Just good TIME. Buying a house for £150,000 now or for £135,000 next year doesn't really make a lot of difference when the £15,000 difference is smoothed out over 25 years. What is important is to get on the ladder of ownership as early as possible if house ownership is important. Factor in the cost of renting which can cost more than a mortgage payment each month and buying, for many people, is better done sooner rather than later. Buying as an investment is a dated ideal and buying to secure a long term home is the important thing.

Leave buying for investment to investors/landlords.

But what do I know? 34 years as a Mortgage Broker, degrees both in Financial Planning and Economics, a member of the IOB since 1979, Diploma in Financial Services & Diploma in Mortgage Advice issued by the Chartered Insurance Institute and a Licensed Debt Counsellor regulated by the Office of Fair Trading since 1986.

And Russell should still keep the car!

Brad

[scoobyh123]

I reckon your last bit of advice is the best there Brad! Nice to have an insight into the housing market from someone in the know as it were. I have to confess i still think Stewart has a point about the house prices but then i'm not at the sharp end of the house buying spectrum!

[Russell820i]

Great advice by all! It really doesent matter (to us anyway) what prices are like now or next year etc, in a few months I shall be in a position to move and we just want to start a life together irrespective of market conditions as were in it for the long haul, if we see something we like and we can afford it then thats good enough for us allowing us to get on with things

[Richard Moss]

And THAT is what houses are supposed to be for - living in!

Our house is currently occupied by a tenant who is paying almost 90% of our mortgage and is also responsible for water, gas, electric and council tax fees - so we are "making" money hand over fist. There is little or no point in paying rent if you can buy because rental fees are dead money that is doing you no good.

[scoobyh123]

I think, not sure mind, but i think i can see where you're coming from now.

If i've got it right, the money for the car would be a bonus not a necessity as you haven't picked a house yet and you won't know until you do anything about costings.
If you want to save the running costs, simply put it on SORN until you have a better feel for how much you'll need. Then if you really do need to sell it you'll still be able to as the condition it's in will more or less guarantee the value of it.
Also it will give prospective purchasers (eg Alex) time to re-jig their space, money etc and keeps your options open, certainly from the point of view of keeping it.

If that's a compromise you and your intended can live with, certainly in the short term it will save you reading "Don't sell it Russ!" while still giving you all the choices.

[Russell820i]

And THAT is what houses are supposed to be for - living in!

There is little or no point in paying rent if you can buy because rental fees are dead money that is doing you no good.

Here here. Have always thopught that about renting.

[mjc9967]

The rent you pay is the same as your mortgage interest. If the rent paid is more than the interest you could have been paying, on a mortgage you can actually obtain, on the value of that property, THAT is the dead money. Just as the mortgage payment over and above the interest amount is the contribution to the purchase of your bricks and mortar. Rent isnt always a dead pursuit... if you do your sums right.

[Stewart]

Stewart - I think you may be wrong.

House prices will stay where they are - they have already fallen enough. As soon as lenders are allowed to lend more freely and have the restrictions imposed upon them by the Financial Services Authority loosened, the swell of people still wishing to buy/move/sell and then able to do so will create a supply issue. Simple economics of supply and demand and house prices may even go up. This has happened before in America and many European countries since 1955.

Is that not the same thing as erosion by inflation? which will mean stagnation for a good few decades before anything can be made here again

And Russell should still keep the car!

Brad

Indeed

[Stewart]

And THAT is what houses are supposed to be for - living in!

There is little or no point in paying rent if you can buy because rental fees are dead money that is doing you no good.

Here here. Have always thopught that about renting.

This is a perculiatity of the english.. the rest of the world has a totally differnt viewpoint, mostly that maintance and upkeep is dead money. And the rest of the world is far cheaper to buy in largley becuse few do. Which is why as soon as I can I am out of this place!

[Russell820i]

The car is now sold to an absolutely lovely gentleman (forum member) who collected the car today and who will treasure the car. The car is off to South of the Border. Ernie, I wish you all the very best with the car and cant thank you enough again. Thanks to all for the kind comments and support.

[Richard Moss]

Glad to hear it went to a good home, Russ. No need to lock or delete the thread.