Car finance is very complicated and different for every person, but hopefully it's of interest to understand a little bit more of how I manage the funding behind the Shmeemobiles. More info at www.approvedmotorfinance.co.uk/shmee150
I was thinking about a video on this topic. Are there things you need to do apart from YT to fund the lifestyle? Or is YT enough ? I genuinely appreciate the honesty.
What you didn't touch on is the use of the cars to create TH-cam revenue. You must be using the cost of the financing and maintenance as an offset against income generated by your business. You may not want to share those details, but if you speak about the benefits of financing, you should give the complete picture. For personal use, I think financing a depreciating asset is a bad plan. But financing an asset that generates revenue is a good plan. Those that confuse the two may be in for some learning moments that may prove expensive. Also, financing an appreciating asset is a very good plan if you are into leveraged investments. In Canada where I live, your principal residence is a tax-free capital gain. In an appreciating market, financing your home is a way to leverage a tax-free gain. In a down market, it is a great way to go bankrupt. I believe your background is finance, so you no doubt have a strong base to draw on.
@@user-od9iz9cv1w I doubt he wants to reveal what he’s making in TH-cam revenue, but knowing what other people make with similar channels and #’s of followers, it’s in the multiple millions per year. You’re correct on the financing of depreciating assets, but he’s not buying Toyotas and Hondas. At least half the cars in his collection are worth a bit more than he paid to double or triple what he paid. Those are the cars he uses to borrow against. The others he owns outright, or keeps for a while then resells to break even or make a small profit (G-wagen, Porsche, M8, etc)
One topic I’ve never really heard you discuss Tim is what orders you’ve had that you’ve cancelled. Would love to hear what you might have added to the garage! All I can think of that you mentioned are the TVR and the Fiesta ST
@@ethanyotter7874 TVR got bought by Russians, and the factory is yet to be built I think. The Griffith has been in Forza Horizon 4 since late 2018, and the real car STILL isn't in production! That fact just baffles me.
It's incredible to think that the unboxed Mercedes Lego is more valuable than the 1.2 clio with some change left over! More and more envious of that lego collection each time you show it! Incredible stuff as always!
Anyone else notice how the banners match the cars in front? Red F1 banner behind the red AMG GTR Roadster, AMG banner behind the SLS, orange Le Mans banner behind the crazy bright Lotus, dark (slightly blue?) Nürburgring banner behind the DBS, blue banner F1 banner behind the Vantage GT8, and finally an orange McLaren banner behind the Herritage Edition Focus RS. All the little details 🥶
So basically, apart from a handful of cars, all the rest of the collection is on finance. My one concern about this business model is this:- What happens if the market were to crash? Would you have to sell the majority to clear the finance payments? I know you choose cars based on what will get clicks & views (hence why the GR Yaris didn't stay around, because they aren't sold in the US & so didn't get the clicks & views). One other thing, you're paying a load for the finance on the fleet, but what does it cost to insure all of them? Are they on limited mileage policies? One other thing, the way this financing works essentially means that you're "remortgaging" to fund the new purchases (in house buying terms). Are the cars then effectively on "buy to let"?
You could always put up a portable tent outside to wash the car. Can I suggest building a routed 4 lane slot car track in your new garage? I belong to a slot car club in Southern California. It is such a fun sport racing with other friends.
Really enjoyed this vid on the numbers, however one thing that would have been interesting as well is insurance. Eg do you have to insure each car separately or is it one policy for all. Not sure if you have ever talked about this before might be an interesting new vid. Keep up the good work
🇧🇷🇧🇷🇧🇷🇧🇷👏🏻, Awesome video! Finance was complicated and unique to each car. But overall a great video to be completely honest. Can't wait for the ZENVO to arrive as well as the GT 500...
Tim, I see Tom with a litre bottle of Bilthamber Korrosol or Autowheels. I believe that fallout products are damaging to porous metals such as carbon ceramic brake discs. It contains Thioglycolic acid which is PH neutral until in contact with brake dust where it then turns the purple colour. I would suggest using only wheel soap and pH neutral wheel cleaner or even and all purpose cleaner, you ceramics don't give off the same debris as a steel rotor and are less damaging to the alloy.
@@bpaul1201awesome they have been depreciating heavily and the co hasn’t delivered hardly any. Not a very high demand car and for the $ people are buying other things. I’m sure he’ll make $ from TH-cam videos with it but not enough to cover the very high cost.
You have the two essentials, a raceglaze filter and a Big Boi, That will really help with water spotting and drying those nooks and crannies. But a big drain in the second barn so you can do this inside would be ace.
Tom has the best job as the Sheemobile Curator. Yes he has to wash and maintain the cars but if you are a petrol head that type of stuff is fun. I hope he stays on for the long term.
Hi guys! It's always a great day when there is a new shmuseum updload! Sorry i'm late! Great video as always! Tom, you have earned legend status along with Tim for me bro! You should have your own youtube channel at this point? Also Tom, what car do you own? Also tim NEEDS TO BUY A ROLLS ROYCE!
Glad everything I have worked for in my 45 years is all paid for but each to there own.Nothing wrong with credit as long as the payment's can be maintained personally I couldn't live that way but fair play to you for achieving what you have and managing a collection of quality cars.
I'm the same way brother I couldn't sleep with all that debt.lol I'm looking to start my own real estate business flipping luxury homes and my dream car is a Laferrari so I will save some money on the side every time I flip homes so I can buy it cash and not have to worry that if the market crashes and I can't pay the monthly payment. It will hurt me if I lose it so that's my plan.
Problem is, even if you can maintain the payments, life can always throw you a curve ball that messes up everything...God forbid. I know because I've experienced this personally. Thankfully I managed to find a way around it.
With all of the buildout you’ve done I don’t know why there wasn’t an enclosed wash bay built. Could have built one outside (covered with a couple of side and back walls) or built one inside with a drain and a shower curtain type track around the entire car. Or build up 4-5 feet of cinder blocks around the wash bay. This way it can be heated and air-conditioned.
Personally with my M140i I saved a 50% deposit, got a bank loan at 2% for the remainder. When I brought the car it was 2 years old and thankfully due to covid is currently still worth more than what I paid. Finatually ALOT cheaper than BMW finance which quoted 10.9% APR which is bonkers.
Given how far in the future you usually have stuff planned, you probably already had the repair and cleaning bits from the last and this video in the works before I commented asking for it recently, but it was great to see a bit of it regardless!
Sometimes you just get lucky with finance.. I took my 2021 AMG A45S PLUS in for a minor issue at Mercedes and to my surprise they asked me if I had any thoughts about selling it.. ????. Not really I said . But they told me they cannot get hold of new ones from AMG and even low mileage 2nd hand ones are scarce. So how much is it worth you ask. I originally paid cash.. No PCP's or finance.? I calculated I would have paid £19,400 in finance to date. They viewed the car and checked it over (7,000 miles in 18 months) and to my shock they were prepared to pay me £2,500 more than I bought it for new!!!!. Amazing. Mercedes have effectively GIVEN ME £2,500 so I can drive a car for 18 months and then given me all my money back. The money? I am planning on buying a new revised AMG A45S when it is released sometime in 2023 and the money from the sale is invested ( I did work in the industry for 36 years). Meanwhile I drive my 16 year old trusty Golf R32 until then.. Sometimes it all goes to plan.. So what happened? I sold the car back to Mercedes on a very hot day on Thursday .. Wasn't easy.. but I keep telling myself...its only a car..
You aren’t factoring in sales tax, license and registration fees, insurance etc. so you lost money. At $2500 if you liked the car you could have kept it. It’s still a good deal but not a $2500 profit. At best you drove it for free for a year.
Brian E. Buxton I mean, he put miles and drove it. Let’s say he spent money for all the things you mentioned, he got the money back. It will always be a win for him since he enjoyed a car for free. Wise move he made, ask Fiat 500 owners how much money they can get back from their cars 😅
@@bebin73 I agree absolutely.. we all have running costs.. I am not so sure what you mean by sales tax and registration fee costs?. These were all in the price of the vehicle when new and I got all that back. Of course, nothing is ever entirely for free. There is always road tax, fuel costs and annual service but on the face of it I got back £2,500 (or $3,200) more than I paid Mercedes for it. so I am not complaining..
@@louis5236 yeah you have a point there. Fiats didn’t gain traction here in the US aren’t worth much. Odd that the Mini Cooper did. Although they got much larger as models progressed.
Good video. I don’t know if you can discuss TH-cam income or not but a more in-depth discussion on financing would be interesting. A lot of people think you just go get loans for cars then drive them around and pay the loans off somehow. From the comments they don’t understand finance at all. They don’t understand TH-cam is paying for the cars (or the cars are paying for themselves). What you are doing with your vehicles is exactly how people buy investment properties - they use the banks money at a low interest rate and they take the rest of their money and invest it in things that make them passive income. Then take the passive income and buy more things that bring in passive income. Use leverage on items that have a higher value than the loan balance. Smart debt!
You need to get some LED’s in those cabinets when you get them into a permanent place, can make them look really nice and they don’t get lost int the dark
Tim…astonishingly honest and forthcoming as always. Whilst we can understand how some cars are financed, the huge elephant in the corner is thinking, how much in total do the monthly repayments come to? Then we see the road trips, the travel costs of fuel, accommodation, the air flights, the huge cost of the SHMUSEUM, the salary bills and then general running costs of the cars, the buildings….and even lifestyle. All VERY personal information but in total simplicity…Outgoings £50,000 monthly, Income £70,000 monthly = happiness….other figures may worry though. What I AM sure of is that you are a careful and calculating man so I guess the commitments work out and income balances, whatever the sums actually are! 🤔🤔😬😬😐😐😐😱
Can’t imagine the anxiety of being that much in debt. I like paying cash for everything I have. This way I own it and I have no worries if anything were to happen.
His debt is smart debt. And he has money coming in from TH-cam, made by owning the cars. What he’s doing is exactly what people do who invest in real estate. If you wait to buy a property until you have cash you’ll buy two or three in your lifetime. If you use the banks money you can buy three or more a year. You will always have 20% or more equity in a car / property, so you can sell it if you needed to pay off the loan. And with real estate you rent out the property so guy have income to pay the bank note. It’s more complicated than that, because you have to buy the property for a good price, don’t buy something that needs a ton of work unless you factored that into the purchase price, and make sure that it brings in a proper amount of income. I have one property I paid $80k for, it brings in $1,700 a month in rent and my bank note is $609.24 a month. I couldn’t care less about the bank note as the property brings in a great monthly rental rate, and I could sell it tomorrow for $130,000 or better if I put it on the market. That’s smart debt. It pays for itself and is worth far more than I owe. Bad debt is buying a tv on your credit card and paying 20% interest. The tv doesn’t bring in any income and it’s worth nothing if you try to resell it.
Very enlightening regarding finance, it’s almost like playing in stocks and shares but ultimately you enjoy every car even if that effects value, you don’t do garage queens, but if you were to have a Shmuseum car that you just couldn’t risk driving, what would it be?
I find it interesting you can't see the back tyres trough the mirrors on the SLS. I remember once driving a RCZ R and it had the same "problem" but it had an option that made the mirrors go down automatically when shifting to reverse, pretty cool.
interesting, the way i understood it is that it's like thinking about the cars as company shares and selling some shares in the cars to buy other cars...clever stuff
Great video Tim, do you think you'd be able to talk about your story and how you managed to make enough money in the first place to be able to afford the finance?
As someone who studied real estate management I have to ask: Do you own real estate except for the barn ? That would be a nobrainer for me. I´d also like to know if you keep track of each car´s "revenue per click" or something like that. I can imagine that a Lambo does better than a black series
The mirrors guys, the mirrors. May be I’m being very stupid here but this is a trick I’ve been using my whole life and may be you never thought of that. So I’m just sharing. If you turn both your wring mirrors down you could just back up any car to anywhere. Especially if there are parallel lines visible to align the car. And once you get used to it and your brain calibrates itself for driving a car that way it becomes a piece of cake. And it is much better than the distorted views of back up cameras
Tim the Lotus color is sick 👌. From your collection you like brands Mercedes, Ford and Aston Martin. You have the most cars from this trio. 🙂 When is coming to your garage the Zenvo TSR. Are you gonna buy some porsche? Dont you want replacing your G wagon? I miss the car. Take care and Good luck
Was expecting a more in-depth breakdown on the numbers, as in how do costs accumulate when you compare an entry level like the Vantage GT8 to a mid-tier (GTR) to an end-game (Huracan STO) super car. Was at HR Owen and from what I understand, the standard is to have 30% down, 30% balloon over a 4-year term. This monthly obviously can be determined with a calculator, but if you add insurance, gas, servicing etc, then what do the actual all-in costs look like? Is it 1.5x the monthly? 1.75x? 2x? Just looking for more detail I guess.
Unfortunately you can't really give exact numbers because they vary so differently from person to person and different setups. In fact, it's actually not allowed to 'advertise' specific figures so I'm not able to do so. You should generally be able to get a better balloon than 30%, I'd think 40% after 4 years for most things, but 25/30% deposit would be sensible in most circumstances to cover potential overnight depreciation and negative equity risks.
Hi Tim, can you maybe tell us a bit more about the business side of things? Like what company’s do you invest in and why? Or real estate? Or other things? How do you generate income? Would love to know that. I think we can al learn something from you.
Whenever Tim talks finance I start to worry. He has a massive following and no doubt some very impressionable viewers. I would be really comforting if he added a warning to his explanations regarding the problem of debt especially in these turbulent times. A lot of people only see the nice cars they want, not the problems if they struggle to afford them. > > > > Leaves room.............😗
If people are that inept in finance Tim warning them isn’t going to change their lives. People need to understand that TH-cam pays for his cars. It’s all smart debt. He’s bringing in more than he’s spending. He’s not just buying cars to pay for from some other income source. It’s like the guy who wrote the book “rich dad poor dad.” I just saw a short video from him where he says that he loves Ferraris and when he wants to buy a Ferrari he takes $50,000 and gives it to the guy who runs his real estate investments - they go and buy a $250-$500,000 property (using the banks money and $50k down) that generates enough income to pay for the Ferrari. He doesn’t take his own money and buy the car. He uses passive income.
I kind of agree, not everyone is going to understand what finance means and what could happen if you don't keep up with the repayments however, anyone who talks to people about car finance like AMF, they'll make that quite clear
I still don't understand the reason of finance ...he is a millionaire and have to pay the cars after 4 or 5 years. And he can buy them personally.....so it doesn't make sense to me...whatever...😇
@@dr.go-fast financing allows him to buy more cars at once. Eg. He could spend 200k on a car and buy it out right or he could spend 60k in deposits on 2 cars and pay 3k a month. Each car makes its money so the more cars present the better
@@dr.go-fast Even multi-millionaires have finance/mortgages. Makes sense with interest rates, leaves the rest of your available funds for things that are high interest. Also, tax reasons Debt isn't a problem, not servicing the debt is
Very interesting not sure what you did with buying the car then re financing on the SLS Black Series for example, but I like that idea. Did not think also about depositing for PCP balloon payment good idea that. Thanks for sharing Tim.
Ghosts are scary but when the designer of those wing mirrors pulls out a magic wand, I'm not asking question, I'm RUNNING. That wand is the actual ugly stick.
I think a lot of us might be more interested in how you make your money? I know that's a personal thing, however where does the money to pay for the cars come from?
@@kingston6498 i know he was in accounting before the youtube thing, or he was in some type of financing. I know he has partnership with Topaz, and i can only imagine a lot of other things
Wow Timothy....the car market is super bubbled....you know that right?....of course you do you are a smart guy...rather thou than me....equity is an interesting concept in the car market!!!....
Be warned about the financing, because those with cars can be terrible, they are pretty safe with homes doing a cash out refinance, when you get a loan of the value of the home. So if value increases you can take out a new loan that is the value of the house, that money is yours now, but that increases monthly payments because the time length should be the same, but a larger loan, so larger payments, I would not recommend doing this with cars, cars are very very risky, cars can’t hold their value no matter what, houses can be less risky because you can pocket the money you get for increasing the loan, but you can have renters paying the new loan making sure that the mortgage can be paid. You can’t rent out cars, what you’re doing is hoping that your car is worth more in current markets, a mclaren senna was almost 3 million a couple of years after it was released, now it’s dropped from that value, so if you take equity out of that vehicle at 3 million and suddenly the value drops to 1.5 million you still have to pay the 3 million dollar loan, and if you sell the car you still can’t make up the loan, guess what you’re still paying the loan, if you refinance at 3 million, and you personally total the car, your car won’t be worth anything, guess what you still owe 3 million, he’s refinancing cars like they are homes, make sure you separate the difference, refinance homes, but make sure you can pay the mortgage and or have renters who will, so then you can move money around freely, plus homes frequently are more stable, unless they are cto don’t buy into cto’s unless you know everyone can pay their rent
Car finance is very complicated and different for every person, but hopefully it's of interest to understand a little bit more of how I manage the funding behind the Shmeemobiles. More info at www.approvedmotorfinance.co.uk/shmee150
this is really very interesting
I was thinking about a video on this topic. Are there things you need to do apart from YT to fund the lifestyle? Or is YT enough ? I genuinely appreciate the honesty.
What you didn't touch on is the use of the cars to create TH-cam revenue. You must be using the cost of the financing and maintenance as an offset against income generated by your business. You may not want to share those details, but if you speak about the benefits of financing, you should give the complete picture.
For personal use, I think financing a depreciating asset is a bad plan. But financing an asset that generates revenue is a good plan. Those that confuse the two may be in for some learning moments that may prove expensive. Also, financing an appreciating asset is a very good plan if you are into leveraged investments. In Canada where I live, your principal residence is a tax-free capital gain. In an appreciating market, financing your home is a way to leverage a tax-free gain. In a down market, it is a great way to go bankrupt.
I believe your background is finance, so you no doubt have a strong base to draw on.
Dislike way too many commercials
@@user-od9iz9cv1w I doubt he wants to reveal what he’s making in TH-cam revenue, but knowing what other people make with similar channels and #’s of followers, it’s in the multiple millions per year. You’re correct on the financing of depreciating assets, but he’s not buying Toyotas and Hondas. At least half the cars in his collection are worth a bit more than he paid to double or triple what he paid. Those are the cars he uses to borrow against. The others he owns outright, or keeps for a while then resells to break even or make a small profit (G-wagen, Porsche, M8, etc)
One topic I’ve never really heard you discuss Tim is what orders you’ve had that you’ve cancelled. Would love to hear what you might have added to the garage! All I can think of that you mentioned are the TVR and the Fiesta ST
The only one in the last 10 years not on your list is the A45S, I've not cancelled anything else
Good point- what ever happened to the tvr?
@@ethanyotter7874 tvr literally just taking peoples money plus there making an ev model of the same one which I bet won’t happen either
@@ethanyotter7874 it’s called scamming people out of a lot of money
@@ethanyotter7874 TVR got bought by Russians, and the factory is yet to be built I think.
The Griffith has been in Forza Horizon 4 since late 2018, and the real car STILL isn't in production! That fact just baffles me.
It's incredible to think that the unboxed Mercedes Lego is more valuable than the 1.2 clio with some change left over! More and more envious of that lego collection each time you show it! Incredible stuff as always!
I literally always wondered this cause I couldn't find anything on your channel about this. Great to know now and your doing good!
Hopefully it's interesting to hear about
What an great Empire You have built by yourself; cars, selfemployment, shmuseum and colleagues/employees etc. Car enthusiast DREAM !
Anyone else notice how the banners match the cars in front?
Red F1 banner behind the red AMG GTR Roadster, AMG banner behind the SLS, orange Le Mans banner behind the crazy bright Lotus, dark (slightly blue?) Nürburgring banner behind the DBS, blue banner F1 banner behind the Vantage GT8, and finally an orange McLaren banner behind the Herritage Edition Focus RS.
All the little details 🥶
This is the kind of video i like apart from usual car stuff🔥 i hope you guys make more videos like this in future
The Shmuseum Great Video I'm glad tim talked about the Financial side of his Collection and I can't wait to see his Zenvo TSR-S
I think I would have sleepless nights juggling all the outlay when income varies year to year but you seem to be doing OK
22:18 Tom calling Brad a muppet makes me laughed so hard
So basically, apart from a handful of cars, all the rest of the collection is on finance.
My one concern about this business model is this:-
What happens if the market were to crash? Would you have to sell the majority to clear the finance payments?
I know you choose cars based on what will get clicks & views (hence why the GR Yaris didn't stay around, because they aren't sold in the US & so didn't get the clicks & views).
One other thing, you're paying a load for the finance on the fleet, but what does it cost to insure all of them? Are they on limited mileage policies?
One other thing, the way this financing works essentially means that you're "remortgaging" to fund the new purchases (in house buying terms). Are the cars then effectively on "buy to let"?
"My one concern is this"
*Lists a few things
"And one other thing"
"And one other thing"
@@bg22757 that's what happens when you start a reply & don't go back to self-edit before posting!
Finally, someone else who sees this like I do.
If the market crashes or subscribers are losing interest: He has a problem.
@@shaking6360 I'm sure he has plenty of money all over the place
NO WAY! Long live 'Humble Corner'!! Great vid as always chaps!
They listened to me! In a previous video I asked for subtitles. And they are here now!
You could always put up a portable tent outside to wash the car. Can I suggest building a routed 4 lane slot car track in your new garage? I belong to a slot car club in Southern California. It is such a fun sport racing with other friends.
The sound of the sls is absolutely mental. Sounds so good
Really enjoyed this vid on the numbers, however one thing that would have been interesting as well is insurance. Eg do you have to insure each car separately or is it one policy for all. Not sure if you have ever talked about this before might be an interesting new vid. Keep up the good work
🇧🇷🇧🇷🇧🇷🇧🇷👏🏻, Awesome video! Finance was complicated and unique to each car. But overall a great video to be completely honest. Can't wait for the ZENVO to arrive as well as the GT 500...
I love seeing and hearing from your crew
You need a canopy. I don't even wash my Toyota in direct sunlight. Sun dried water spots suck!
Glad you have the sls back looking stellar 👌
Thanks 👍
One of the questions I’ve been asking myself a lot .. thanks for clarifying w video
Hope it answers your questions
This side channel has a nice laid back vibe to it
Tim, I see Tom with a litre bottle of Bilthamber Korrosol or Autowheels. I believe that fallout products are damaging to porous metals such as carbon ceramic brake discs. It contains Thioglycolic acid which is PH neutral until in contact with brake dust where it then turns the purple colour. I would suggest using only wheel soap and pH neutral wheel cleaner or even and all purpose cleaner, you ceramics don't give off the same debris as a steel rotor and are less damaging to the alloy.
Have you thought of putting an interior washbay in the second barn so cars can be washed in the winter and on hot days?
Topaz style
Yes, and building it is not going to be cheap at all. It is not the first thing on my list.
@@TheShmuseum this is definitely Tom, no one else takes themselves so seriously
Can’t wait for the Zenvo it’s an amazing spec 😎
That’s going to be his worst purchase from a financial / investment perspective.
@@bebin73 how so?
@@bpaul1201awesome they have been depreciating heavily and the co hasn’t delivered hardly any. Not a very high demand car and for the $ people are buying other things. I’m sure he’ll make $ from TH-cam videos with it but not enough to cover the very high cost.
You have the two essentials, a raceglaze filter and a Big Boi, That will really help with water spotting and drying those nooks and crannies. But a big drain in the second barn so you can do this inside would be ace.
Really good information. Good fun as usual. Thank you 👍👍👍👍
Glad you enjoyed it
Tom has the best job as the Sheemobile Curator. Yes he has to wash and maintain the cars but if you are a petrol head that type of stuff is fun. I hope he stays on for the long term.
The SLS is my favourite, bloody lovely
Very much needed video from a var collector
🙌🏽🙌🏽🙌🏽
Hi guys! It's always a great day when there is a new shmuseum updload! Sorry i'm late! Great video as always! Tom, you have earned legend status along with Tim for me bro! You should have your own youtube channel at this point? Also Tom, what car do you own? Also tim NEEDS TO BUY A ROLLS ROYCE!
The best thing about the lifts is if they do have a slight oil leak then it’s not dripping onto the car below
Never seen Tom as sad as he was when saying goodbye to the Rolls
Yes, I had visions of him taking off with a big police chase ensuing.
Glad everything I have worked for in my 45 years is all paid for but each to there own.Nothing wrong with credit as long as the payment's can be maintained personally I couldn't live that way but fair play to you for achieving what you have and managing a collection of quality cars.
I'm the same way brother I couldn't sleep with all that debt.lol I'm looking to start my own real estate business flipping luxury homes and my dream car is a Laferrari so I will save some money on the side every time I flip homes so I can buy it cash and not have to worry that if the market crashes and I can't pay the monthly payment. It will hurt me if I lose it so that's my plan.
Can you honestly say you “own” these cars? The bank “owns” my house until I pay it off.
Problem is, even if you can maintain the payments, life can always throw you a curve ball that messes up everything...God forbid. I know because I've experienced this personally. Thankfully I managed to find a way around it.
Why worry ? It is the banker who has trouble sleeping at night...When you understand that, it is so much easier.
With all of the buildout you’ve done I don’t know why there wasn’t an enclosed wash bay built. Could have built one outside (covered with a couple of side and back walls) or built one inside with a drain and a shower curtain type track around the entire car. Or build up 4-5 feet of cinder blocks around the wash bay. This way it can be heated and air-conditioned.
Love seeing the notification of a new video pop up. Keep up the great work please guys!
Thanks! Will do!
That SLS Black is the best looking car ever I think!
SLS paintwork is stunning.
The RR Ghost is a fantastic car…hope the Shmuseum has one in the near future
Beauty must be in the eye of the beholder. RR for me are as ugly as…….
Personally with my M140i I saved a 50% deposit, got a bank loan at 2% for the remainder. When I brought the car it was 2 years old and thankfully due to covid is currently still worth more than what I paid. Finatually ALOT cheaper than BMW finance which quoted 10.9% APR which is bonkers.
This^^ this is how to buy used cars in the real world. This is what everyone should do
@@360FAMOUZ360 hence I wrote it! Most sensible thing to do if you want a 20-25k car
Finally, I’ve been waiting for this video for so long!!!
Enjoy
Given how far in the future you usually have stuff planned, you probably already had the repair and cleaning bits from the last and this video in the works before I commented asking for it recently, but it was great to see a bit of it regardless!
Sometimes you just get lucky with finance.. I took my 2021 AMG A45S PLUS in for a minor issue at Mercedes and to my surprise they asked me if I had any thoughts about selling it.. ????. Not really I said . But they told me they cannot get hold of new ones from AMG and even low mileage 2nd hand ones are scarce. So how much is it worth you ask. I originally paid cash.. No PCP's or finance.? I calculated I would have paid £19,400 in finance to date. They viewed the car and checked it over (7,000 miles in 18 months) and to my shock they were prepared to pay me £2,500 more than I bought it for new!!!!. Amazing. Mercedes have effectively GIVEN ME £2,500 so I can drive a car for 18 months and then given me all my money back. The money? I am planning on buying a new revised AMG A45S when it is released sometime in 2023 and the money from the sale is invested ( I did work in the industry for 36 years). Meanwhile I drive my 16 year old trusty Golf R32 until then.. Sometimes it all goes to plan.. So what happened? I sold the car back to Mercedes on a very hot day on Thursday .. Wasn't easy.. but I keep telling myself...its only a car..
You aren’t factoring in sales tax, license and registration fees, insurance etc. so you lost money. At $2500 if you liked the car you could have kept it. It’s still a good deal but not a $2500 profit. At best you drove it for free for a year.
Brian E. Buxton I mean, he put miles and drove it. Let’s say he spent money for all the things you mentioned, he got the money back. It will always be a win for him since he enjoyed a car for free. Wise move he made, ask Fiat 500 owners how much money they can get back from their cars 😅
@@bebin73 I agree absolutely.. we all have running costs.. I am not so sure what you mean by sales tax and registration fee costs?. These were all in the price of the vehicle when new and I got all that back. Of course, nothing is ever entirely for free. There is always road tax, fuel costs and annual service but on the face of it I got back £2,500 (or $3,200) more than I paid Mercedes for it. so I am not complaining..
@@louis5236 true that Fiats don’t hold value!
@@louis5236 yeah you have a point there. Fiats didn’t gain traction here in the US aren’t worth much. Odd that the Mini Cooper did. Although they got much larger as models progressed.
Good video. I don’t know if you can discuss TH-cam income or not but a more in-depth discussion on financing would be interesting. A lot of people think you just go get loans for cars then drive them around and pay the loans off somehow. From the comments they don’t understand finance at all. They don’t understand TH-cam is paying for the cars (or the cars are paying for themselves). What you are doing with your vehicles is exactly how people buy investment properties - they use the banks money at a low interest rate and they take the rest of their money and invest it in things that make them passive income. Then take the passive income and buy more things that bring in passive income. Use leverage on items that have a higher value than the loan balance. Smart debt!
Once again great content. Looking forward to all aspects involving the zenvo .when might one expect an update on the 296.
Sorry, maybe you can do video "all Shmee cars maintenance cost and intervals breakdown" Would be interesting👍
There are videos like that on the channels. Make sure to check them out!
You need to get some LED’s in those cabinets when you get them into a permanent place, can make them look really nice and they don’t get lost int the dark
I love hearing about the financial side of things with anything it's ways interesting to hear about these things
the blue sls is probably the nicest car in your collection
🙏 Happy for you, man.
Awesome vid and when Tom called Brad muppet that was pretty funny
Tim…astonishingly honest and forthcoming as always. Whilst we can understand how some cars are financed, the huge elephant in the corner is thinking, how much in total do the monthly repayments come to? Then we see the road trips, the travel costs of fuel, accommodation, the air flights, the huge cost of the SHMUSEUM, the salary bills and then general running costs of the cars, the buildings….and even lifestyle. All VERY personal information but in total simplicity…Outgoings £50,000 monthly, Income £70,000 monthly = happiness….other figures may worry though. What I AM sure of is that you are a careful and calculating man so I guess the commitments work out and income balances, whatever the sums actually are! 🤔🤔😬😬😐😐😐😱
His father was here before him...
Can’t imagine the anxiety of being that much in debt. I like paying cash for everything I have. This way I own it and I have no worries if anything were to happen.
Me too. Got myself into a lot of debt a few years back, have paid it all off and now won't entertain any form of debt.
Same here. I buy what I can afford to pay cash. I guess this is not how you get rich but it definitely doesn’t keep me awake at night.
His debt is smart debt. And he has money coming in from TH-cam, made by owning the cars. What he’s doing is exactly what people do who invest in real estate. If you wait to buy a property until you have cash you’ll buy two or three in your lifetime. If you use the banks money you can buy three or more a year. You will always have 20% or more equity in a car / property, so you can sell it if you needed to pay off the loan. And with real estate you rent out the property so guy have income to pay the bank note. It’s more complicated than that, because you have to buy the property for a good price, don’t buy something that needs a ton of work unless you factored that into the purchase price, and make sure that it brings in a proper amount of income. I have one property I paid $80k for, it brings in $1,700 a month in rent and my bank note is $609.24 a month. I couldn’t care less about the bank note as the property brings in a great monthly rental rate, and I could sell it tomorrow for $130,000 or better if I put it on the market. That’s smart debt. It pays for itself and is worth far more than I owe. Bad debt is buying a tv on your credit card and paying 20% interest. The tv doesn’t bring in any income and it’s worth nothing if you try to resell it.
@@8yn815 paying cash is absolutely not how you get rich. It actually keeps you from making money.
Thanks for sharing the lego puzzles sets very fun garage collectables..:)
Pretty sure Tim had money before all of this. But he's still worked hard to get to where he is.
Some yes, but not multiple supercars worth
I love ¨The Humble Corner¨...
ah i was looking for this vid, thanks tim and his accountants for posting this!
Glad you enjoyed it
Cheers for the video guys 😎👌
Very enlightening regarding finance, it’s almost like playing in stocks and shares but ultimately you enjoy every car even if that effects value, you don’t do garage queens, but if you were to have a Shmuseum car that you just couldn’t risk driving, what would it be?
I find it interesting you can't see the back tyres trough the mirrors on the SLS. I remember once driving a RCZ R and it had the same "problem" but it had an option that made the mirrors go down automatically when shifting to reverse, pretty cool.
I think RCRz are underrated - lovely cars
interesting, the way i understood it is that it's like thinking about the cars as company shares and selling some shares in the cars to buy other cars...clever stuff
Great video Tim, do you think you'd be able to talk about your story and how you managed to make enough money in the first place to be able to afford the finance?
You will find those videos and information on the Shmee150.com website
A little finance information is very welcome, but gets more sophisticated with car values increasing on some and regular depreciation on others.
Carpenter here, looks like you got a good bundle the 2x4s I gotta pick through are awful
As someone who studied real estate management I have to ask: Do you own real estate except for the barn ? That would be a nobrainer for me. I´d also like to know if you keep track of each car´s "revenue per click" or something like that. I can imagine that a Lambo does better than a black series
I dont think he has time to do anything but youtube
My guess is some of the cars he’s sold speak to that question. If they aren’t generating him revenue and aren’t increasing in value they are gone.
@@Poatan.chama. Real Estate doesn´t require that much time. It´s a passive income and the management can be outsourced easily
You need to get some Sams Detailing drying towels. Honestly they are epic and set a car quicker than anything I have seen.
Tim have you considered making a small podcast recording room in the Smuseum to record a weekly podcast or Shmodcast if you will. Just saying..
Interesting idea, but Tim decided to do the Shwatch150 channel instead :)
@@TheShmuseum One can do more than one thing, can’t one?
There is only so many hours in a day, and there are already four TH-cam channels and a large number of social channels, plus a lot more to do.
It’s a dream of mine for someone to look at me, like Shmee looks at snow foam.
The GT8 needs to be the NEXT Tarmac Works car. The GT BS would be as good. THANK YOU for getting these little guys going!
Personally I think the GT8 should be left as it is
The SLS next to the Lotus is the most amazing color combo
Next video you should put the go kart on a top lift
Good afternoon Shmee150 how are you doing I have to say I love your SLS that sounds incredible 💜💜
Love the box of Nerds on top of the display cases 😃
Whilst people worry how they are going to feed their families and keep warm this winter…
Are you thinking of building a indoor wash bay? It would make life way easier.
Yes totally, but it is so expensive to make that work.
The mirrors guys, the mirrors. May be I’m being very stupid here but this is a trick I’ve been using my whole life and may be you never thought of that. So I’m just sharing. If you turn both your wring mirrors down you could just back up any car to anywhere. Especially if there are parallel lines visible to align the car. And once you get used to it and your brain calibrates itself for driving a car that way it becomes a piece of cake. And it is much better than the distorted views of back up cameras
Geezer used to drive a Clio and now he's got a team of dudes washing his SLS. :D
Was the Ninebot not a gift from Tim’s better half? Kinda feel like it should be an addition rather than an upgrade…😉😏
True, it was!
Tim the Lotus color is sick 👌. From your collection you like brands Mercedes, Ford and Aston Martin. You have the most cars from this trio. 🙂 When is coming to your garage the Zenvo TSR. Are you gonna buy some porsche? Dont you want replacing your G wagon? I miss the car. Take care and Good luck
you should put all the mercedes next too each other on lifts
Was expecting a more in-depth breakdown on the numbers, as in how do costs accumulate when you compare an entry level like the Vantage GT8 to a mid-tier (GTR) to an end-game (Huracan STO) super car. Was at HR Owen and from what I understand, the standard is to have 30% down, 30% balloon over a 4-year term. This monthly obviously can be determined with a calculator, but if you add insurance, gas, servicing etc, then what do the actual all-in costs look like? Is it 1.5x the monthly? 1.75x? 2x? Just looking for more detail I guess.
Unfortunately you can't really give exact numbers because they vary so differently from person to person and different setups. In fact, it's actually not allowed to 'advertise' specific figures so I'm not able to do so. You should generally be able to get a better balloon than 30%, I'd think 40% after 4 years for most things, but 25/30% deposit would be sensible in most circumstances to cover potential overnight depreciation and negative equity risks.
Balloon payment loans are bad ideas.
Hi Tim, can you maybe tell us a bit more about the business side of things? Like what company’s do you invest in and why? Or real estate? Or other things? How do you generate income? Would love to know that. I think we can al learn something from you.
How about discussing watches? Would love to hear your view on your swatch moonswatch and other ones in your collection
Check out Tims dedicated watch channel "Shwatch150" for all of the above!
@@tomthecardude thanks a lot. Never realized that channel existed!
Whenever Tim talks finance I start to worry. He has a massive following and no doubt some very impressionable viewers. I would be really comforting if he added a warning to his explanations regarding the problem of debt especially in these turbulent times. A lot of people only see the nice cars they want, not the problems if they struggle to afford them.
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Leaves room.............😗
If people are that inept in finance Tim warning them isn’t going to change their lives. People need to understand that TH-cam pays for his cars. It’s all smart debt. He’s bringing in more than he’s spending. He’s not just buying cars to pay for from some other income source. It’s like the guy who wrote the book “rich dad poor dad.” I just saw a short video from him where he says that he loves Ferraris and when he wants to buy a Ferrari he takes $50,000 and gives it to the guy who runs his real estate investments - they go and buy a $250-$500,000 property (using the banks money and $50k down) that generates enough income to pay for the Ferrari. He doesn’t take his own money and buy the car. He uses passive income.
I kind of agree, not everyone is going to understand what finance means and what could happen if you don't keep up with the repayments however, anyone who talks to people about car finance like AMF, they'll make that quite clear
I still don't understand the reason of finance ...he is a millionaire and have to pay the cars after 4 or 5 years. And he can buy them personally.....so it doesn't make sense to me...whatever...😇
@@dr.go-fast financing allows him to buy more cars at once. Eg. He could spend 200k on a car and buy it out right or he could spend 60k in deposits on 2 cars and pay 3k a month. Each car makes its money so the more cars present the better
@@dr.go-fast Even multi-millionaires have finance/mortgages. Makes sense with interest rates, leaves the rest of your available funds for things that are high interest. Also, tax reasons
Debt isn't a problem, not servicing the debt is
Very interesting not sure what you did with buying the car then re financing on the SLS Black Series for example, but I like that idea. Did not think also about depositing for PCP balloon payment good idea that. Thanks for sharing Tim.
Yeah guys get the faster one, I trust you lot...😎👌
Ghosts are scary but when the designer of those wing mirrors pulls out a magic wand, I'm not asking question, I'm RUNNING.
That wand is the actual ugly stick.
Love the Roller but those wing mirrors........
Love this channel and I can't believe you don't have more subscribers!
Great car collection and great Lego collection. I’d love to know where those display cabinets were from? I’m looking for something very similar.
@5:49 bug dent on the front wing behind the wheel and the louvre!
It's a weird pinch point in the bodywork, same on both sides.
@@TheShmuseum yes, i just saw the same thing on the other side as the car was loaded onto the lift! how odd.
Zenvo update tim👀👀
You have some really stunning cars. But the sls is the best looking. So agressive but also in this color so classy. I love it
Glad you like it!
I think a lot of us might be more interested in how you make your money? I know that's a personal thing, however where does the money to pay for the cars come from?
@@gediminaskontrimas7992 what?
Yh I’ve always wondered that aswell cos I know for a facts it’s not all from TH-cam
@@kingston6498 i know he was in accounting before the youtube thing, or he was in some type of financing. I know he has partnership with Topaz, and i can only imagine a lot of other things
@@jankie55 wow didn’t know he was partners with topaz aswell
Read Shmee150.com and check the video we released on this topic over the last 10 years. All can be found on the About and FAQ pages.
Hi Tim, please don’t sell the DBS. It’s such a classic car. Great to have the SLS back and it’s looking fantastic and I’m sure it sounds louder.
"Not yet you Muppet"😂😂😂😂 adding that one to my list
Upgrade to the pro and get the drift tires
what will you do for cleaning when you have a hosepipe ban?
Wow Timothy....the car market is super bubbled....you know that right?....of course you do you are a smart guy...rather thou than me....equity is an interesting concept in the car market!!!....
Be warned about the financing, because those with cars can be terrible, they are pretty safe with homes doing a cash out refinance, when you get a loan of the value of the home. So if value increases you can take out a new loan that is the value of the house, that money is yours now, but that increases monthly payments because the time length should be the same, but a larger loan, so larger payments, I would not recommend doing this with cars, cars are very very risky, cars can’t hold their value no matter what, houses can be less risky because you can pocket the money you get for increasing the loan, but you can have renters paying the new loan making sure that the mortgage can be paid. You can’t rent out cars, what you’re doing is hoping that your car is worth more in current markets, a mclaren senna was almost 3 million a couple of years after it was released, now it’s dropped from that value, so if you take equity out of that vehicle at 3 million and suddenly the value drops to 1.5 million you still have to pay the 3 million dollar loan, and if you sell the car you still can’t make up the loan, guess what you’re still paying the loan, if you refinance at 3 million, and you personally total the car, your car won’t be worth anything, guess what you still owe 3 million, he’s refinancing cars like they are homes, make sure you separate the difference, refinance homes, but make sure you can pay the mortgage and or have renters who will, so then you can move money around freely, plus homes frequently are more stable, unless they are cto don’t buy into cto’s unless you know everyone can pay their rent