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FK2 Need a bit of advice on what to do at the end of my PCP

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I'm coming to the end of my initial 3 year PCP deal on my 2016 Honda Civic Type R. The current market value of the same model with similar miles is between £20,000-£22,000. This value is £6,000 more than Honda's agreed "future market value" which was £16,000 at the time of the agreement.

I have absolutely NO intention of swapping to the FK8.

The options I've considered are taking out a personal loan and pay the agreed end balloon payment, and pocket the equity. Then I've got a few ideas.

Keep the car forever which I intended to do from the outset. It's everything I want and need in a motor.

Sell the FK2 for £16,000 minimum (would likely fetch a lot more) and then either:

Pile that money into a 2010 GTR (I've done plenty of research on these cars, I know what I'll be getting into compared to a FK2)

Buy a project car (looking at a Toyota JZX100) and then buy a boring car to daily in (Honda Jazz), and whatever money is left put into the house.

Sell the FK2, buy a shitbox, and stick whatever money is left into property.

I find myself in a unique position, one I certainly wasn't expecting to be in when I signed the PCP deal. I was honestly expecting the FK2 to be sat around £10,000- £13,000. The fact the FK2 has held its value pretty well has opened up some good options, but could do with some other opinions on what to do.

Any help and advice would be greatly appreciated.
 
very likely not an itch i'll be scratching but i found myself lusting over the new supra the other night. £50k is way outta budget and if it was, there'd be many other cars out there that i'd consider it wouldn't be high on the list anymore.

fk2 does it all and doesn't attract much unwanted attention. cant help but think the GTR would be a summer car and not something you'd want to be out in in winter.

can't give any real advice - i too bought fk2 longterm. jumped into personal loan and off the Honda HP deal. i don't see the point in selling and throwing cash into the house. Houses don't give you an adrenaline thrill that cars do.
 
very likely not an itch i'll be scratching but i found myself lusting over the new supra the other night. £50k is way outta budget and if it was, there'd be many other cars out there that i'd consider it wouldn't be high on the list anymore.

fk2 does it all and doesn't attract much unwanted attention. cant help but think the GTR would be a summer car and not something you'd want to be out in in winter.

can't give any real advice - i too bought fk2 longterm. jumped into personal loan and off the Honda HP deal. i don't see the point in selling and throwing cash into the house. Houses don't give you an adrenaline thrill that cars do.

You can sleep in your car, but you cannot drive a house! (I tell my wife this a lot!)
 
very likely not an itch i'll be scratching but i found myself lusting over the new supra the other night. £50k is way outta budget and if it was, there'd be many other cars out there that i'd consider it wouldn't be high on the list anymore.

fk2 does it all and doesn't attract much unwanted attention. cant help but think the GTR would be a summer car and not something you'd want to be out in in winter.

can't give any real advice - i too bought fk2 longterm. jumped into personal loan and off the Honda HP deal. i don't see the point in selling and throwing cash into the house. Houses don't give you an adrenaline thrill that cars do.

Cheers mate.

The GTR is a consideration because of how much car you're getting for relatively low second hand cost...

But after researching, compared to the FK2 the running costs are astronomical (obviously). £700+ service costs, tyres £250 a corner, chews through disks/ pads at £2000 job lot, not to mention 15MPGs... and if anything goes wrong with that drivetrain then I'd need a bank loan to fix it. Also, I can assume it would be nowhere near as engaging to drive as the FK2 because of how everything works in unison on the GTR. The GTR drives itself...

The A90 Supra would be a serious consideration for the future however I can't get on with knowing it's got a BMW straight 6 under the bonnet. I know the N54 and S38 are decent BMW engines, but I'm pretty sceptical how the B58 is gonna hold up in 10-15 years time.

It's looking like I'm going to end up keeping the FK2. Like you said it does everything and more. I do want to experience that high BHP RWD though, hence wanting the Chaser.
 
Karl on here will tell you about his dad's 16 plate GTR. Normal service with disks and pads if I recall correctly, and he didn't see change from £5k.

No ta.
 
have you looked at the new a45? I know it'll be mega money on release but you could keep the fk2 for another year then hopefully still get 16k privately
 
With £5k of equity I would be paying the balloon off 100%.

With £20k you have a lot to play with if you wanted to go down the route of another car or depending on your location putting it in to property...
 
Karl on here will tell you about his dad's 16 plate GTR. Normal service with disks and pads if I recall correctly, and he didn't see change from £5k.

No ta.

Yeah, my Dad is currently on his third R35 GT-R and has averaged £17k a year in just keeping them on the road.

He works abroad and only drives it when visiting the UK; usually max 8 weeks per year. But even then fuel will average £1,100 per two week visit when using it daily (during Summer / dry days; as "making good ground" in cold / wet conditions tends to be, erm, interesting!), so fuel expenditure is lower when it's cold as it isn't driven the same way.
 
With £5k of equity I would be paying the balloon off 100%.

With £20k you have a lot to play with if you wanted to go down the route of another car or depending on your location putting it in to property...

Just realized I actually follow you on Instagram haha! Lovely M2 you have mate.

Thanks for all the advice guys.

The GTR is out of the question. After doing more research into its costs and how it drives, given my circumstances I'd rather have a bigger house and a more cost effective car. It's looking likely after hearing you guys and speaking with friends (and consulting the GF, she actually wants me to get the GTR...) that keeping the FK2 for at least a few more years is the wisest option. The FK2 really is everything I want in a car which I why I bought it in the first place.

Cheers for the help guys. I'll maybe update with what I ended up doing in a few months or so, if it's still relevant.
 
very likely not an itch i'll be scratching but i found myself lusting over the new supra the other night. £50k is way outta budget and if it was, there'd be many other cars out there that i'd consider it wouldn't be high on the list anymore.

fk2 does it all and doesn't attract much unwanted attention. cant help but think the GTR would be a summer car and not something you'd want to be out in in winter.

can't give any real advice - i too bought fk2 longterm. jumped into personal loan and off the Honda HP deal. i don't see the point in selling and throwing cash into the house. Houses don't give you an adrenaline thrill that cars do.

This made me smile, I have been looking at McLarens and thinking what I have ploughed into the FK8 over the last 12 months I could afford a McLaren and then have no flash money for the next 5 years. Reality then kicks in and tells me £100k on a car is madness way out of budget even though I've paid between £700pm -£1200pm on the FK8 for a year now and a couple of lump sum bungs. If I was stupid enough to do this then I should plough the cash into property as I suspect a £100k car would also be divorce material even though a month before we bought the FK8 my wife bless her did ask me why I don't buy a new NSX while watching TGT and stamped my card to buy one, then I told her what they cost ;)

For the thread starter my advice would be everyone ultimately needs a roof over their head so if the buzz has worn off do the sensible thing and buy property as the sooner you pay your mortgage off the sooner you have more flash money for metal ;)
 
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For 100k+, i wouldn't be going honda. surprised she didn't know how much the NSX costs. same as i wouldn't go GTR... 100k for a nissan. lol
100k isn't daily car money (well, maybe for some). For me, that's Ultima Evo money. - a stupidly impractical toy with a daily alongside it.
 
For 100k+, i wouldn't be going honda. surprised she didn't know how much the NSX costs. same as i wouldn't go GTR... 100k for a nissan. lol
100k isn't daily car money (well, maybe for some). For me, that's Ultima Evo money. - a stupidly impractical toy with a daily alongside it.

She's a woman lol, I bet she thought it was only around £5-10k more than the R and was thinking it's only money.

I keep looking though

https://www.ccspecialistcars.co.uk/used-mclaren-12c-spider-dukinfield-cheshire-1616113

http://www.thboler.com/used-cars/9443676-mc-laren-540-c-v8-ssg/
 
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remember: cars depreciate, parts & maintenance don't ;)
I'd definitely be going McLaren over the nsx. surprised the 12c has held its price - floating around 100k.
 
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Mate of mine drives for a prestige motor dealership where they sell anything from a Lambo to a Rolls, he had driven many cars from a V6 to a V12 and says the best car he has ever driven was a 12c a few years ago. Mind you I doubt I am dumb enough to cough up that kind of money without winning the lottery
 
The Fk2 is quite a rare Machine to own, as only 5000 were made, 2500 only sold in the uk. destined to be a future classic, How often do you see one when out in yours ?
the technology is at the top. In the end it's your decision!
All the best for the future Regards Fred.
 
The FK2 is at the top of nothing in terms of technology. Honda tried to add gimmicks to be more like the competition but didn't hit the mark. It's not what performance Hondas are about, so they shouldn't have bothered anyway. And doubtful it'll be a future classic; not enough of a cult following and essentially isn't leaps and bounds above what else was produced in the same era.
 
Fairly new on here and in terms of technology I was just going by the what ive read about the k20c engine. perhaps I need to read up a little more to gain more knowledge on Honda technology compared to whats out there. Regards Fred
 
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