Buy an R8 or pay off the mortgage

[mccltd]

Well as the title says..

Should I pay of the mortgage or Buy an R8, what a dilemma?

[SAMMY]

Pay Off Mortgage And Borrow Against House To Deduct Interest!!! Best Of Both Worlds

[mccltd]

Looking at the interest rates I would be better off to use the 70k to buy the car. Mortgage interest is 4%, Audi want 6.65%. Also mortgage is index linked to my savings account.

Now to make a decision from a 4 seater to a two.

Audi were very surprised i was going to use an R8 as my every day car. Do people not do this?

[mdc]

Well as the title says..

Should I pay of the mortgage or Buy an R8, what a dilemma?

you came to the right place to ask this question. Do not ask anyone else in the family.

[wedouglas]

Um, that depends. Do you have a $130K house and mortgage, or a $1MM house with $130k left?

[mccltd]

Well decision made. Picking up the R8 today.
Keeping the £50k mortgage.

[imclueless]

I remortaged to get it! Another 5 months and I wouldn't have been able to!

[Proactivity]

This is a small clue towards answering a question I've been asking myself for a long time:

I, like any sane male, want an Audi R8. How can I afford one? How can any normal person afford one?

I bring in £90k, 3 maybe 4 times the UK national average (depending which stats you believe), yet I'm so, so far from being able to afford an R8. I'm supporting my partner and 2 kids, no mortgage having jumped off the housing ladder 10 years ago, pushing 40 and scouting for my mid-life crisis car.

How different is this from other people considering or already owning an R8? Are they exclusively for successful business owners, property developers, inheritors and lottery winners?

[imclueless]

I am an old codger of 52 with no partner (well I didn't at the time) and enough equity in my property and sufficent disposable income to pay for the 14 year mortgage.

I only live once and I was spending my son's inheritance (he likes the car more than I do!)

The key is the partner and kids!

[MikeB]

25 years of running my own business, I sold it to myself when it incorporated !!, cash no problem !!

Its difficult to fund if you are on a fixed income, unless you have established realisable equity in something else. The R8 came along at the right time for me.