Poor people and credit
Discussion
J4CKO said:
One good thing from the occasional bit of credit is that you build up a credit history, I tend to just spend what I earn and dont make large purchases on credit just due to our situation, so the odd Ipad or similar on credit, that gets paid off does give me a credit history in case I need to make that kind of purchase.
Stuff like Ipads on Interest free are a good idea (when they do it) as they dont discount, the purchase is "front loaded" regardless of how you buy one, cash wont get a discount but I would concur that Apple is perhaps the exception, and I dont think they offer it currently.
Huge mark up on watches it seems, my sons mates dad runs a jewellry shop and his brother, only 22 or something sells watches for one of the big watch companies (not Sekonda...) and is driving round in a 991 Turbo.
Big markup but very expensive to sell (high storage costs and low turnover) so actual net profit is no greater magnitude than selling other goods. I suspect your chap is just building up his credit history in case of an emergency. Stuff like Ipads on Interest free are a good idea (when they do it) as they dont discount, the purchase is "front loaded" regardless of how you buy one, cash wont get a discount but I would concur that Apple is perhaps the exception, and I dont think they offer it currently.
Huge mark up on watches it seems, my sons mates dad runs a jewellry shop and his brother, only 22 or something sells watches for one of the big watch companies (not Sekonda...) and is driving round in a 991 Turbo.
CorbynForTheBin said:
I have a feeling that most of the younger showy-showy people are living very much for the here and now, looking forward to surviving off baked beans in retirement...
Or, surviving off those more pragmatic, it is always a trade off, getting some experiences and owning nice stuff whilst young enough to really enjoy it versus putting money away, you get no benefit from money in the bank these days other than some limited feeling of security.Edited by CorbynForTheBin on Tuesday 8th March 10:26
However sensible and hard working you are, you still get to pay for those not remotely interested, the welfare state is a noble institution but it has removed that survival instinct in the population, work for 50 years pay tax and NI and you get a crappy state pension, do cock all, smoke, drink and become a burden and get the same, pay for your own house and when you need care it gets flogged to pay for it, never put a bean into property and get the same care.
Sometimes I wonder who the mug is, I dont owe a penny, to anyone and quite like it that way but I drive a seven grand car, I could get something newer and fancier but I know i could easily get things, but I cant really afford it, dont want to be juggling finance but sometimes I do think that C63 would be nice.
J4CKO said:
Sometimes I wonder who the mug is, I dont owe a penny, to anyone and quite like it that way but I drive a seven grand car, I could get something newer and fancier but I know i could easily get things, but I cant really afford it, dont want to be juggling finance but sometimes I do think that C63 would be nice.
Nothing wrong with a bank loan to fund a car IMHO.
You guys are the same as none car people who take the piss out of M BMW's, 911's etc and that think those who drive them are just posing w
kers.
Just as you like your cars for more than just moving you around some people into watches like them for more than just their ability to tell time with regard for their engineering, movements and design.
Yep there are M3, 911, Fezza drivers who are just posers just as yep, there are Rolex, IWC, JLC owners who are posers but not all are, just like you with your cars.
Calling someone insecure because they have an expensive watch is just retarded.
I know for a fact some very well regarded members of this site have extremely high end watches to go with their very high end cars, the same cars you praise as paragons of taste.
Have a bit more balance than chucking everyone in the same pot hey chaps.
kers. Just as you like your cars for more than just moving you around some people into watches like them for more than just their ability to tell time with regard for their engineering, movements and design.
Yep there are M3, 911, Fezza drivers who are just posers just as yep, there are Rolex, IWC, JLC owners who are posers but not all are, just like you with your cars.
Calling someone insecure because they have an expensive watch is just retarded.
I know for a fact some very well regarded members of this site have extremely high end watches to go with their very high end cars, the same cars you praise as paragons of taste.
Have a bit more balance than chucking everyone in the same pot hey chaps.
give over, anything over say £10 for a watch or £1k for a car is beyond need and into want.
there may well be some admiration of the craftmanship and engineering once you are into want but unless a pure investment locked in a vault there is always a healthy dose of insecurity, vanity, display etc in that, for all of us at whatever level.
anyone who denies that is a liar.
there may well be some admiration of the craftmanship and engineering once you are into want but unless a pure investment locked in a vault there is always a healthy dose of insecurity, vanity, display etc in that, for all of us at whatever level.
anyone who denies that is a liar.
Jasandjules said:
J4CKO said:
Sometimes I wonder who the mug is, I dont owe a penny, to anyone and quite like it that way but I drive a seven grand car, I could get something newer and fancier but I know i could easily get things, but I cant really afford it, dont want to be juggling finance but sometimes I do think that C63 would be nice.
Nothing wrong with a bank loan to fund a car IMHO.I have, from being aged 23 always had responsibilities, i.e. house and kids and never really the spare money to go too daft but have had a few really good holidays and a few nice cars, most I have spent on my car is seven grand though, hopefully the kids may get more financially independant and leave us with a bit more capacity to indulge ourselves.
BrabusMog said:
Cracking Watch, cracking discount and very sporting 
As I said, I didn't doubt you, but I presumed you meant the 2016 January sales
Just to note that I insured my girlfriends ladies DateJust last month, bought for her as a present by a family member, and I'd to supply the receipt as part of obtaining cover - the AD discounted by just over 8%.As I said, I didn't doubt you, but I presumed you meant the 2016 January sales
Purchase was December 2105.
I personally can't see the problem with using finance to buy something, if you feel the additional cost asscoaited with the finance is worth paying in return for having the item sooner than by saving then why not? i do find it a litle odd when people will sacrifice on basics like decent food etc so they can have the latest iphone or 65" TV but each to their own i guess, i personally paid for my Armani watch straight cash but i'm a legit baller
Pommygranite said:
You guys are the same as none car people who take the piss out of M BMW's, 911's etc and that think those who drive them are just posing wkers.
Just as you like your cars for more than just moving you around some people into watches like them for more than just their ability to tell time with regard for their engineering, movements and design.
Yep there are M3, 911, Fezza drivers who are just posers just as yep, there are Rolex, IWC, JLC owners who are posers but not all are, just like you with your cars.
Calling someone insecure because they have an expensive watch is just retarded.
I know for a fact some very well regarded members of this site have extremely high end watches to go with their very high end cars, the same cars you praise as paragons of taste.
Have a bit more balance than chucking everyone in the same pot hey chaps.
Though I have never driven any of the car you mentioned, I can see how they give a different motoring experience than my car. I can see the draw and attraction of the power and can see how the precise handling and steering can give a keen driver a hard on. But how can a 10 grand watch give a more satisfying time keeping experience than my 9 quid Decathlon watch of my 140 quid CWC thingy (who's date keeps going squew wiff? kers. Just as you like your cars for more than just moving you around some people into watches like them for more than just their ability to tell time with regard for their engineering, movements and design.
Yep there are M3, 911, Fezza drivers who are just posers just as yep, there are Rolex, IWC, JLC owners who are posers but not all are, just like you with your cars.
Calling someone insecure because they have an expensive watch is just retarded.
I know for a fact some very well regarded members of this site have extremely high end watches to go with their very high end cars, the same cars you praise as paragons of taste.
Have a bit more balance than chucking everyone in the same pot hey chaps.
Willy Nilly said:
Though I have never driven any of the car you mentioned, I can see how they give a different motoring experience than my car. I can see the draw and attraction of the power and can see how the precise handling and steering can give a keen driver a hard on. But how can a 10 grand watch give a more satisfying time keeping experience than my 9 quid Decathlon watch of my 140 quid CWC thingy (who's date keeps going squew wiff?
I have a £60 casio.But I imagine the feel of £10k on your wrist is similar to having a Ferrari on your drive, but slightly less ostentatious, perhaps.
It's not doing anything special at the time but it's YOURS and it tells the world that you earn enough that you can easily spend £10k on something frivolous.
As someone said above, everybody does it to a certain extent.
If you have the money sat doing nothing and you can buy an expensive watch and fundamentally enjoy it for free (other than the cost of tying the money up) then why would anyone begrudge another for doing so? What reason would there be for not buying an expensive non depreciating asset to enjoy when the cost of doing so is so minimal and the alternative use of the money is for it to add a few numbers to a computer screen?
Moonhawk said:
If it's zero percent interest - then it makes sense anywhere.
Say I want to buy a watch worth £1000 that is on 6 months 0% credit. I have more than enough in the bank to over the £1000.
I could buy the watch using my own money now - or I could take the 0% interest offer - then pay it off in 6 months using the money I have in the bank.
Surely taking the credit makes perfect sense:
1. I get to have the watch now, just as I would if I bought it outright - but I get to leave my £1000 in the bank and earn 6 months worth of interest on it.
2. If I take credit and don't default - I get to build up a credit record, which could help in the future if I need to buy something I don't have the money just sitting around for (e.g. a house).
You'd be stupid not to take the 0% interest offer.
All good up to point 2.Say I want to buy a watch worth £1000 that is on 6 months 0% credit. I have more than enough in the bank to over the £1000.
I could buy the watch using my own money now - or I could take the 0% interest offer - then pay it off in 6 months using the money I have in the bank.
Surely taking the credit makes perfect sense:
1. I get to have the watch now, just as I would if I bought it outright - but I get to leave my £1000 in the bank and earn 6 months worth of interest on it.
2. If I take credit and don't default - I get to build up a credit record, which could help in the future if I need to buy something I don't have the money just sitting around for (e.g. a house).
You'd be stupid not to take the 0% interest offer.
On a short term loan like this it will negatively effect your credit rating in a number of ways,if you're trying to build credit.
Firstly, the negative impact for 6 months or so of both a credit search and the credit agreement. Then, it will bump your non revolving credit account from 0 to £X. Then, as its a short term loan, it will reduce the average age of credit agreements-bad.
If you're minted and have a 999 score, it probably won't make much difference. But credit building, better pay cash.
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