How the hell do people afford cars these days?
Discussion
Ken_Code said:
SWoll said:
You're kidding surely? The concept of complex mechanical/electrical things becoming less reliable the older and more used they are is a surprise to you?
I wonder why warranty companies charge more to cover a car the older/higher mileage it gets? Must just be a scam and nothing to do with risk I imagine..
A fair number of brand new cars have issues. My Emura made it 50 miles before the power steering failed and another 50 before the windscreen wiper did.I wonder why warranty companies charge more to cover a car the older/higher mileage it gets? Must just be a scam and nothing to do with risk I imagine..
Cars a few years old have likely had any niggles sorted and so we’ll be more reliable than one straight from the factory.
And not sure using a Lotus as an example is helping your argument much. )
not sure if relevant but 9 years ago i looked into leasing a diesel golf GT over 3 years £1050 dep plus 35 x £350 £13,300 in total at the end of the contract give car back and start again, decided to by an 08 635 conv 1o wner and 33k miles for £13k. Still own it now on 124,000 miles and just had first bill for coilpack ecu thingy and a few other bits £900 costs. Yes tax is dear and run flat tyres are expensive, but i love the car, its great to smoke up and own motorways into south London
I know of many people who have purchased new car either personally or via a business and have lost huge amount of cash especially Range Rovers and Taycans, 1 recenlty lost £70k in 2 years on a turbo s taycan!!
I have no debts no mortgage have an ok income and own several cars and motorcycles. even with my spare money i cannot justify the costs of leasing new cars especially EV - my colleague ahs a Tesle Y at £850 per month crazy but justified as he has no road tax and it costs £7 to recharge over night.
I know of many people who have purchased new car either personally or via a business and have lost huge amount of cash especially Range Rovers and Taycans, 1 recenlty lost £70k in 2 years on a turbo s taycan!!
I have no debts no mortgage have an ok income and own several cars and motorcycles. even with my spare money i cannot justify the costs of leasing new cars especially EV - my colleague ahs a Tesle Y at £850 per month crazy but justified as he has no road tax and it costs £7 to recharge over night.
FamousPheasant said:
It's also what most dealers use as a benchmark from experience.
Dealers quote it so they can lowball you, it's something you can then look up and go 'oh yeah, take this off me for cheap whilst I bend over', WBAC are usually last resort to anyone selling a car.....they don't mind loosing money on their car as it 'saves hassle' etc, don't know of anyone who has ever been offered anything near market value, that's why they are in business.Your car will not be resold at anywhere near what they offered you
SWoll said:
You'll notice at no point did I say all? And you're talkig about production niggles on brand new models, not actual reliability issues caused by time and use which is by far the biggest cause of failures and unreliability.
And not sure using a Lotus as an example is helping your argument much. )
I don’t think the power steering failing is a “niggle”, it was off the road for over a month because of it.And not sure using a Lotus as an example is helping your argument much. )
Why, when my point was about new vehicles having issues is an example of a new vehicle having an issue not helping?
Edited by Ken_Code on Wednesday 8th May 13:46
MightyBadger said:
FamousPheasant said:
It's also what most dealers use as a benchmark from experience.
Dealers quote it so they can lowball you, it's something you can then look up and go 'oh yeah, take this off me for cheap whilst I bend over', WBAC are usually last resort to anyone selling a car.....they don't mind loosing money on their car as it 'saves hassle' etc, don't know of anyone who has ever been offered anything near market value, that's why they are in business.Your car will not be resold at anywhere near what they offered you
As a way of calculating the expected depreciation, in the worst case, it's still a valid methodology. Particularly for cars less than 10 years old.
FamousPheasant said:
I fully understand what you are saying but it is a very relevant figure when considering the cost of a car for most people. It's well understood that you may get more with a private sale but you only have to look at the numbers of car for sale for sale privately to see it's not very common these days.
As a way of calculating the expected depreciation, in the worst case, it's still a valid methodology. Particularly for cars less than 10 years old.
They bid me £52,500 for my Emira.As a way of calculating the expected depreciation, in the worst case, it's still a valid methodology. Particularly for cars less than 10 years old.
The first dealer I called bid me £62,000.
TheInternet said:
If you're in Scotland that may well be true, but if you drove where okgo does I don't think you'd be nearly as bothered.
Must admit, I expected something a little more interesting when I clicked on his profile after that comment - a mid spec 3 series!You’re right though, motoring in London makes life easy, there is simply no point buying anything interesting for any other reason than you do a LOT of miles outside of London, or you want to show off - there’s plenty of both about I’m sure
Edited by okgo on Wednesday 8th May 14:29
Ken_Code said:
SWoll said:
You'll notice at no point did I say all? And you're talkig about production niggles on brand new models, not actual reliability issues caused by time and use which is by far the biggest cause of failures and unreliability.
And not sure using a Lotus as an example is helping your argument much. )
I don’t think the power steering failing is a “niggle”, it was off the road for over a month because of it.And not sure using a Lotus as an example is helping your argument much. )
Why, when my point was about new vehicles having issues is an example of a new vehicle having an issue not helping?
Edited by Ken_Code on Wednesday 8th May 13:46
okgo said:
TheInternet said:
If you're in Scotland that may well be true, but if you drove where okgo does I don't think you'd be nearly as bothered.
Must admit, I expected something a little more interesting when I clicked on his profile after that comment - a mid spec 3 series!You’re right though, motoring in London makes life easy, there is simply no point buying anything interesting for any other reason than you do a LOT of miles outside of London, or you want to show off - there’s plenty of both about I’m sure
Edited by okgo on Wednesday 8th May 14:29
Lil_Red_GTV said:
okgo said:
TheInternet said:
If you're in Scotland that may well be true, but if you drove where okgo does I don't think you'd be nearly as bothered.
Must admit, I expected something a little more interesting when I clicked on his profile after that comment - a mid spec 3 series!You’re right though, motoring in London makes life easy, there is simply no point buying anything interesting for any other reason than you do a LOT of miles outside of London, or you want to show off - there’s plenty of both about I’m sure
Edited by okgo on Wednesday 8th May 14:29
Golf thread.
Superiority complex as he has done better than his brother.
Zj2002 said:
He’s best ignored. Leave him to the 12 year old
Golf thread.
Superiority complex as he has done better than his brother.
That really wasn’t the point of my mentioning him. It was the amazement at the lengths folk seem to go to in order to have NEW CARS from PREMIUM brands. Even if it means their lives are fairly hard because of it. Golf thread.
Superiority complex as he has done better than his brother.
Ken_Code said:
FamousPheasant said:
I think you missed my point, but never mind.
How so? You mentioned the amount to be made on an F1, and I agreed, saying I’ve two friends who did exactly that.I'm just not sure why we are comparing a family hatchback to a McLaren and therefore came up with an even more absurd suggestion of an F1.
For most people cars are tools that need to reliably get people from A to B and that costs money regardless of how it's done. Although I like the idea, picking up the kid(s); doing a tip runs and nipping to Tesco in a 650s isn't necessarily going to work. I would also expect that doing 8/10K miles a year is going to somewhat increase depreciation and maintenance, offsetting some of those gains.
okgo said:
Lil_Red_GTV said:
I'm sorry, is that snide comment about a mid-spec 3 series aimed at me?
Yes mate. As I assume the Golf comment was aimed at me. I think we are both right.
Ultimately we are both losers, though, as we should both have bought McLarens and then we could have MADE money!
FamousPheasant said:
Sorry, I was perhaps being overly subtle. The original quote referenced a leased Citroen, to which you replied with the money made on a Mclaren.
I'm just not sure why we are comparing a family hatchback to a McLaren and therefore came up with an even more absurd suggestion of an F1.
For most people cars are tools that need to reliably get people from A to B and that costs money regardless of how it's done. Although I like the idea, picking up the kid(s); doing a tip runs and nipping to Tesco in a 650s isn't necessarily going to work. I would also expect that doing 8/10K miles a year is going to somewhat increase depreciation and maintenance, offsetting some of those gains.
The comparison was to show that you can sometimes drive an exotic supercar for the same price as a family runabout, using my experience as an example.I'm just not sure why we are comparing a family hatchback to a McLaren and therefore came up with an even more absurd suggestion of an F1.
For most people cars are tools that need to reliably get people from A to B and that costs money regardless of how it's done. Although I like the idea, picking up the kid(s); doing a tip runs and nipping to Tesco in a 650s isn't necessarily going to work. I would also expect that doing 8/10K miles a year is going to somewhat increase depreciation and maintenance, offsetting some of those gains.
This is (or perhaps was) once a site for car enthusiasts, who might appreciate knowing how far their budget can go.
To be clear, there is no world in which someone of modest means can drive an exotic supercar for the same price as a family runabout. If they could even get a loan of sufficient size, the monthly payments would be well over a grant a month alone. And that's before extortionate insurance, servicing etc.
If you already have the £65k required for a (10 year old) McLaren, you might come out no worse off than leasing something, but that's just a case of money begetting money.
It's a best a bit tone deaf (or at worst, trolling) to come onto a thread about how some people are struggling with the cost of cars these days and suggest buying a McLaren.
If you already have the £65k required for a (10 year old) McLaren, you might come out no worse off than leasing something, but that's just a case of money begetting money.
It's a best a bit tone deaf (or at worst, trolling) to come onto a thread about how some people are struggling with the cost of cars these days and suggest buying a McLaren.
People see value in all sorts of things. When you see how much some people are willing to spend on private education, the question of how much others are willing to spend on cars looks a bit minor league. And of course some people who don't do that will look at them and allege exactly the same sorts of motives around snobbery, being seen to be wealthy, and keeping up with the Joneses. Ultimately it's up to each individual what they spend their money on.
otolith said:
People see value in all sorts of things. When you see how much some people are willing to spend on private education, the question of how much others are willing to spend on cars looks a bit minor league. And of course some people who don't do that will look at them and allege exactly the same sorts of motives around snobbery, being seen to be wealthy, and keeping up with the Joneses. Ultimately it's up to each individual what they spend their money on.
I sort of agree, but a car is a big flashy show and you get to park it out front of your house so even people you have never met can see it. There are few better ways in terms of optics of waving ones penis than a car (though harder in London because your car isn't likely parked outside your house )Not sure anyone sends their kids to private school for willy waving purposes do they?
Anyway, I suspect sensible people will continue to be so, and not so sensible will do likewise - it'll all come out in the wash I suspect.
Edited by okgo on Wednesday 8th May 16:07
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