1990 g reg rare volvo classic estate 760 gle v6 in fantastic

[Laird Scooby]

Originally Posted by Familyman 90

Does anyone remember when a V6 was seen as something special in the UK, something to aspire to? Now they're an expensive embuggerance that no one wants.

Yes and that's why i've got one. For the mileage i do, it's not really that much more expensive than anything else. However when taking it on a run for any reason, i can get good economy from it if i'm "sensible".
In fact, both my V6s give good economy on runs but can be a bit thirsty for my general running about. That said i once tried an "economy" car and it was no better on petrol, cost about 5 times as much for insurance and broke down daily. Not economical at all!
Not to mention the chiropractors bills for sorting my back out as the ride was horrible............

[GingerMagic]

I ran a V6 406 Coupe for a couple of years, great fun and not too horrendous on fuel considering I drive my cars with 'enthusiasm'.....

I only sold it on as I was more used to the versatility of a 5 door estate - so I bought the Volvo.

Fuel economy isn't a massive issue for me either, it's my hobby car - my daily is s 406 diesel that I can abuse to my heart's content

[griston64]

Originally Posted by Laird Scooby

You may well do Andrew but it's vastly different to 15% which would be £90k pa, even taking out the 40% unearned tax it still leaves you with £54k pa or a grand a week to live on.
Also if you intended to live on the interest, you'd need an account that not only paid interest monthly but that you could draw on monthly to pay your bills, live etc. For that, financial institutions penalise you with the interest rates so wouldn't be appreciably better than 1%.

You wouldn't pay 40% tax on your savings interest either Dave

If you were getting say 2.1% on your 600k your interest income of 126.k would be included as your personal tax allowance

[Laird Scooby]

Originally Posted by griston64

You wouldn't pay 40% tax on your savings interest either Dave

If you were getting say 2.1% on your 600k your interest income of 126.k would be included as your personal tax allowance

Things may have changed then Mark or perhaps the person who told me that was misinformed in the first place - long time ago now.

I did recently have a look and most accounts i have available don't pay more than base rate until you get several £m in the account. Then they have to be changed to another but that's when the rate goes up inversely proprtionally to access to the funds. Still not much above base rate which i haven't checked recently but at the time was just under 1% (0.9% rings a bell but may be wrong) and the "high interest" account was only something like 0.6% higher than base.

As we all know though, financial institutions are a law unto themselves as far as interest rates go and if i won the lottery tonight and paid £6m into my account on Monday/Tuesday, no doubt the bank would be falling over themselves to offer me a "preferential" interest rate to keep my funds in their accounts.

[john.wigley]

Some of our accounts have fallen to as low as 0.01%, 'L.S.'. It has been a very long time since we have seen more than 1% - in effect failing to keep pace with inflation. Yet, the banks still demand circa 20% APR on credit card balances. We can pay ours off most months, but are mindful that there are many who are not in that fortunate position.

It seems to me to be very much a 'Heads they win, tails you lose, scenario. 'AHKV' is right, our monetary system is seriously out of kilter and in urgent need of realignment, I cannot see interest rates remaining at their present all-time low for very much longer.

Regards, John.