For those who’ve done 10 year HP....

[Meoncoast]

I bought many cars in the past over 60 months finance in the past and by 36 months they needed changing. No way would I buy any car even a Cali over a 120-month deal. For me, 60 months would be the maximum. "My view" is I am sure there are ways to get a camper lifestyle without committing to 10years of HP. Your 11 and 7 with have grown out of family holidays before the age 21 and 17.

 

[andyinluton]

If your monthly outgoing remain the same I would go for it, if you need a vehicle of some sort, you might as well have versatile one. Different if its only going to be used occasionally.

Also consider your likely mileage, 10-15k is probably ok 30k and with five years to go on the payments you've got a 150K miles van.

Look into gap insurance for the first few years. If it gets written off early your settlement figure will be a lot more than the vans worth.

Saving up only works if you can buy it in the future at todays prices. My van is coming up to 5 years old & to buy now would be something like 15-20k more than I paid. That is far more than I've paid in interest.

 

[MarkVw2017]

I didn’t lose my job and still moved the family into the van for a year. I count it as the best year of my life.

We are looking to borrow ~£40,000 for a hip to gable loft extension (two bedrooms and a bathroom).

Bank will loan £25,000 over 5 years at 3.9%; credit card will loan £11,500 at 0% with a 3% arrangement fee. We only need to save £3,500. There really are some good deals out there.


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Thought about hip to adding a dormer Tom rather than Gable end, cheaper and if you plan the rightsize, dont need planning Here a free guide to converting lofts, r

True, not everyone.
But I saved over many years and made do with a cheaper alternative. My first few vans cost a few thousand all in and didn’t saddle me with a lifetime of debt.

Sorry, I’m just very debt averse.
To me, it’s like selling your soul to the devil. I save hard, don’t buy any unnecessary stuff and patiently wait until I’m in the right position.

It’s amazing how much money can be saved when you reassess what’s important.
It’s even more amazing how much more you can save without using credit...

Im borrowing now to make memories for the future . Bizarrely, people getting credit and paying interest is a massive part of what makes the economy tick. Eg If @Amarillo doesnt get that loan for his loft conversion, then he wouldnt need builders, plumbers, bathrooms, carpets etc. so the loan he is getting, will be helping his local economy & local businesses etc. Also the interest people pay on loan and mortgages, goes on to help the next person get a loan or mortgage etc. If no one borrowed, you might find that you wouldnt be in the same financial position to be able to save and buy a cali outright as the economy would be a whole different ball game Getting credit is not a bad thing if you can afford it but getting £10k on your credit card and paying 30% interest when you only earn £5k is a bad debt, and no, that isn't good for the economy.

 

[Amarillo]

Thought about hip to adding a dormer Tom rather than Gable end, cheaper and if you plan the rightsize, dont need planning

Hip to gable, in the case of our roof is definitely the right choice. Then a full width dormer goes at the back and a couple of Velux skylights at the front. As you say, no planning permission required.



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[soulstyledevon]

Thought about hip to adding a dormer Tom rather than Gable end, cheaper and if you plan the rightsize, dont need planning Here a free guide to converting lofts, r

Im borrowing now to make memories for the future . Bizarrely, people getting credit and paying interest is a massive part of what makes the economy tick. Eg If @Amarillo doesnt get that loan for his loft conversion, then he wouldnt need builders, plumbers, bathrooms, carpets etc. so the loan he is getting, will be helping his local economy & local businesses etc. Also the interest people pay on loan and mortgages, goes on to help the next person get a loan or mortgage etc. If no one borrowed, you might find that you wouldnt be in the same financial position to be able to save and buy a cali outright as the economy would be a whole different ball game Getting credit is not a bad thing if you can afford it but getting £10k on your credit card and paying 30% interest when you only earn £5k is a bad debt, and no, that isn't good for the economy.

Big difference with Amarillo’s situation. He will possibly add value to his asset.

When you buy a California the one thing you can guarantee, is it will be worth less than what you paid for it.
With the uncertain future ahead for the UK, I wouldn’t commit large sums of money to luxuries.

 

[larrylamb]

You can't put a value on the amazing summer holidays we have had in our Cali, priceless.

 

[MarkVw2017]

Big difference with Amarillo’s situation. He will possibly add value to his asset.

When you buy a California the one thing you can guarantee, is it will be worth less than what you paid for it.
With the uncertain future ahead for the UK, I wouldn’t commit large sums of money to luxuries.

Sorry to disagree again, but if we all had thr attitude of 'not sure whats happening with the UK so i will not buy anything until we have certainty' will cause alot more damage to the UK economy than any political position we are in now.

The Cali is not an investment, and is a luxury item, no doubt about that, but were not talking about spending £50k on jewellery. It will get people to work, kids to school, days out, be mobile office and when it depreciates much less than even a ford focus, then it could be a wise investment if you need a car and want some cheap and fun holidays as a bonus.

But as most things in life, each to their own

 

[soulstyledevon]

Understand the desire Mark. They’re great.
But does the O/P need to spend £50-& £60k to achieve this...?
If he needs a 10 year loan for such sums, I personally would be looking down the used California route or perhaps a cheaper alternative.

10 years is a longtime.

 

[Roc1]

Thank you all for the replies, handy to hear a mix of opinions! I have to say, I’m a bit of a live for the moment type whilst the kids are still young and am inclined just to go for it. Whether that’s a healthy attitude or not remains to be seen but hey ho!

Also, and someone here maybe able to clarify, but am I right in thinking there’s not much of a penalty if say after 5 years to either trade in for a new one or sell back? Good to look at all options.

 

[Amarillo]

Also, and someone here maybe able to clarify, but am I right in thinking there’s not much of a penalty if say after 5 years to either trade in for a new one or sell back? Good to look at all options.

We paid a tad over £40,000 OTR for our high spec Beach just under two years ago. After 42,000 miles we could probably get £30,000 for it now (£5,000 per year depreciation by that measure). However, to replace new would be ~£50,000 so £10,000 per year depreciation by that (more honest) measure.




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[Amarillo]

Sorry to disagree again, but if we all had thr attitude of 'not sure whats happening with the UK so i will not buy anything until we have certainty' will cause alot more damage to the UK economy than any political position we are in now.

Another way to look at it is that the uncertainty depresses value. Once the uncertainty is resolved people can plan for the future so values rise.



Follow my blog: www.au-revoir.eu

 

[andyinluton]

We paid a tad over £40,000 OTR for our high spec Beach just under two years ago. After 42,000 miles we could probably get £30,000 for it now (£5,000 per year depreciation by that measure). However, to replace new would be ~£50,000 so £10,000 per year depreciation by that (more honest) measure.




Follow my blog: www.au-revoir.eu

Thats not an honest measure of depreciation your van is not worth any less just because new prices have risen & in fact reinforces the buy it now view.

Save up £450/month for 2 years & find you still have as much still to save as you did two years ago.
Or you could have enjoyed the van for two years thinking Im glad we bought when we did as the prices have gone up again.

 

[larrylamb]

The 10 year hp is the only way I can get a Beach, and as the monltly payments work out the same what I’m paying now on my Kombi (admittedly that would get paid off in 3.5 years), I kind of want to make the jump to getting a camper sooner rather than later whilst my kids are still young (11 and 7).

I just wondered, how many of you have taken out the 10 year deal with the potential view of trading the Cali in in say 5 years time for a newer one etc? I was thinking as they hold their value well it could be an option with hopefully little penalty.

I oringally was going to get the kombi converted but that’s going to be a good £20k on top of what I’m already paying, and a Beach looks like the perfect option for me.

Thanks!

If the Beach style camper is what you are after then it won't cost £20k to achieve something similar with your Kombi.

 

[Roc1]

If the Beach style camper is what you are after then it won't cost £20k to achieve something similar with your Kombi.

I had a quote from Slidepods of £18k to get it done, caravelle rails, sca roof, lining, electrics etc

 

[Roc1]

Have many here done the 10 year HP option then? If so is your plan to keep it for that long?

 

[MarkVw2017]

Yes, someone made a go

Thank you all for the replies, handy to hear a mix of opinions! I have to say, I’m a bit of a live for the moment type whilst the kids are still young and am inclined just to go for it. Whether that’s a healthy attitude or not remains to be seen but hey ho!

Also, and someone here maybe able to clarify, but am I right in thinking there’s not much of a penalty if say after 5 years to either trade in for a new one or sell back? Good to look at all options.

Someone made a good point. What about a conversion. You've got the base t6 model and if your not after a kitchen and just want the beach experience, it could prove a worthwhile and much cheaper option for you. I got a quote to include a pop up roof, swivel chairs, rock and roll bed and make it all Comfy and tidy at around £10k. But the base model put me off as there sooo expensive but you already have the base model, defo worth considering.

 

[Roc1]

Yes, someone made a go

Someone made a good point. What about a conversion. You've got the base t6 model and if your not after a kitchen and just want the beach experience, it could prove a worthwhile and much cheaper option for you. I got a quote to include a pop up roof, swivel chairs, rock and roll bed and make it all Comfy and tidy at around £10k. But the base model put me off as there sooo expensive but you already have the base model, defo worth considering.

Thanks yes I’ll look into that more. I think as I want a sliding seat system on rails it bumps the cost quite a bit and there aren’t many converters who do that well.

 

[MarkVw2017]

Understand the desire Mark. They’re great.
But does the O/P need to spend £50-& £60k to achieve this...?
If he needs a 10 year loan for such sums, I personally would be looking down the used California route or perhaps a cheaper alternative.

10 years is a longtime.

Very true, there are plenty of great loved used ones out there. You can get a 2 year old beauty for around £35k

 

[larrylamb]

I had a quote from Slidepods of £18k to get it done, caravelle rails, sca roof, lining, electrics etc

I would shop around, lots of good converters out there. You can also add extra bits when you can afford them if the initial package is too dear. Start off with your decent sliding seat/bed and go from there.

 

[MarkVw2017]

Thanks yes I’ll look into that more. I think as I want a sliding seat system on rails it bumps the cost quite a bit and there aren’t many converters who do that well.

But if it saves you literally £1000s to have fixed seating, defo worth considering. The sliding seats are great, but i could easily live without it if it meant £1000s off my price

 

[MarkVw2017]

I would shop around, lots of good converters out there. You can also add extra bits when you can afford them if the initial package is too dear. Start off with your decent sliding seat/bed and go from there.

A good conversion done well by a reputable company will mean it depreciate a lot less and here is the place to find some great converter companies

 

[Roc1]

But if it saves you literally £1000s to have fixed seating, defo worth considering. The sliding seats are great, but i could easily live without it if it meant £1000s off my price

I was just worried that when you have spun the front seats round there wouldn’t be much leg space for a living area but happy to be proved wrong!

 

[MarkVw2017]

I was just worried that when you have spun the front seats round there wouldn’t be much leg space for a living area but happy to be proved wrong!

Have you been in a cali yet with the kiddies? Might be worth having a holiday in one for a long weekend hire before committing yourself to 10 year finance deal. You might love it, bit you might think

 

[Roc1]

A good conversion done well by a reputable company will mean it depreciate a lot less and here is the place to find some great converter companies

Any recommendations would be great thank you

 

[MarkVw2017]

Any recommendations would be great thank you

Where are you based?