Talk Morgan Forums Morgan Sports Cars Morgan Three Wheeler & Super 3 United States Financing Options

Cash is great, unless you haven't got any.

Bought my house on tick too,still got another 13 years to pay. Never be able to afford it otherwise. Neither house nor Morgan were bought as investments, they were bought for ease, pleasure and enjoyment. Both are insured, so minimal risk, and if the times go bad I can sell both and live in a box.

Not everyone has the ability to buy a car outright - in 2018, 2.4 million cars were bought on finance, and 64% of those were used.

The average cost of a new car in 2018 was £33,559. I bought my Morgan for £17K and my Corsa for £500 so got both for around half of that, so can hardly be accused of being extravagant. I'll have my Morgan till death do us part, and probably swap the £500 Corsa for a £500 Corsa in a couple of years time.

Well said, I love the innovative way that you have funded your Morgan, I am from the other end of things having had the responsibility of being the only bread winner and three youngsters to get through university and my good lady to take care of.
I only buy toys when it's capital we don't need so very fortunate but worked bloody hard to attain it, so now is the time to enjoy it.
It's horses for courses life is far too short not to do the things that bring you pleasure..

Finance options are simply horrendous. 3 wheeler was virtually impossible.... actually it was!
I’m told finance companies look at these odd vehicles as “ virtually un- finance-able”.
Do to safety , and particularly theft with a 3 wheeler. It’s not me ! This is real.
Insurance companies! Omg . Hagerty is the best and one of few .
Ps don’t tell your life insurance company you just bought a Morgan .....

The other joy of the credit card approach is the flexibiliy you get. Most months I pay about £700 off them, but if times get a bit hard, or I have an unexpected bill/expense then I've got the option to reduce payments to 'minimum' for a month or so, which is around £150. Thankfully that hasn't happened yet, but it is comforting to have the option. Can also lob a bit more in if I get a windfall (had a PPI payout a while back and knocked a couple of grand off the total).

There is no right or wrong answer to this opportunity, its clearly down to personal financial circumstances ,one's propensity to save or spend, your personal risk profile and tolerance. All of which tend to change over time as one's circumstances changes. Age can sometimes have an influence on one's ability to raise credit/loans to fund such purchases and so on.It's basically down to what ever floats your boat.

regards