What % of NET monthly salary do you spend on your car
Discussion
What an odd thread. Everyone has different priorities. When i was 17 at home, the I'd spend 25% or more on my motor. Now 40 with kids that would be silly.
I can see the OP firstly wants to tell us how much he earns, then make folks think he's not really arsed about car ownership, then celebrate his investing skill's in buying an appreciating car!
Folks at work (and maybe the OP) spend 20%+ of their net annual income on a 2 week summer holiday and thats OK? Bonkers I'd say.
Why HP or PCP over leasing? If the lease deal £/month is cheaper you'd be daft not to. Either way it's not your car.
Just stop judging folks by your own priorities and celebrate how much some of us care about cars.
I can see the OP firstly wants to tell us how much he earns, then make folks think he's not really arsed about car ownership, then celebrate his investing skill's in buying an appreciating car!
Folks at work (and maybe the OP) spend 20%+ of their net annual income on a 2 week summer holiday and thats OK? Bonkers I'd say.
Why HP or PCP over leasing? If the lease deal £/month is cheaper you'd be daft not to. Either way it's not your car.
Just stop judging folks by your own priorities and celebrate how much some of us care about cars.
Edited by mikeN54 on Wednesday 4th May 21:40
daemon / lostkiwi
I think the 'Good for the economy' discussion is far more complex. The last thing any economy needs is large amounts of people sat on their capital and not cycling it through the economy (lost multiplier effects of everything we spend etc). So although its true that excessive lending is a major issue, restricting capital is also a fast track to a recession. Far too complex an issue for us to try and make finite statements based on trends in car financing. I'd suspect the auto industry would look very different today if it weren't for finance availability, as would property prices etc.
The "right" answer, as always, is some form of moderation which is a very complex judgment and is impossible to calculate definitively.
I think the 'Good for the economy' discussion is far more complex. The last thing any economy needs is large amounts of people sat on their capital and not cycling it through the economy (lost multiplier effects of everything we spend etc). So although its true that excessive lending is a major issue, restricting capital is also a fast track to a recession. Far too complex an issue for us to try and make finite statements based on trends in car financing. I'd suspect the auto industry would look very different today if it weren't for finance availability, as would property prices etc.
The "right" answer, as always, is some form of moderation which is a very complex judgment and is impossible to calculate definitively.
swerni said:
Either that or can't be bothered reading the thread and wades in with irelevant b
ks
No, I have read it a lot. OP clearly asked about % spent on a new car, not about sheds nor running costs. Petrol costs are an emergent property of how far you drive or sh*t economy, not a desire for a white Audi or beater.ks OP is a bell, but typical PH becomes a partisan argument on how people should spend their motoring budget.
I love to see a 300 quid 750il as much as 900 bags on a 918. Y'all loosing your mind.
Whatever you drive, be it a Dacia, rented s line or a Avantador; the cost is largely irrelevant. The Dacia owner may run an 80ft predator, the Avantador owner a studio flat in Battersea.
...and OP, why the obsession with the value of the car rather than the cost to use it?
If I paid £600/month for a lease on a £40k diesel A4 is that OK?
But if I pay £650/month for a £100k M6 is that not acceptable because the car is above my social standing as judgedby your odd standards?
If I paid £600/month for a lease on a £40k diesel A4 is that OK?
But if I pay £650/month for a £100k M6 is that not acceptable because the car is above my social standing as judgedby your odd standards?
Edited by mikeN54 on Wednesday 4th May 21:55
Hungrymc said:
daemon / lostkiwi
I think the 'Good for the economy' discussion is far more complex. The last thing any economy needs is large amounts of people sat on their capital and not cycling it through the economy (lost multiplier effects of everything we spend etc). So although its true that excessive lending is a major issue, restricting capital is also a fast track to a recession. Far too complex an issue for us to try and make finite statements based on trends in car financing. I'd suspect the auto industry would look very different today if it weren't for finance availability, as would property prices etc.
The "right" answer, as always, is some form of moderation which is a very complex judgment and is impossible to calculate definitively.
Yes. Absolutely. I'm all for moderation and i'm certainly not advocating people leasing / PCPing cars with payments that are beyond their means.I think the 'Good for the economy' discussion is far more complex. The last thing any economy needs is large amounts of people sat on their capital and not cycling it through the economy (lost multiplier effects of everything we spend etc). So although its true that excessive lending is a major issue, restricting capital is also a fast track to a recession. Far too complex an issue for us to try and make finite statements based on trends in car financing. I'd suspect the auto industry would look very different today if it weren't for finance availability, as would property prices etc.
The "right" answer, as always, is some form of moderation which is a very complex judgment and is impossible to calculate definitively.
Likewise i'm not saying that personal debt levels arent a problem - just challenging the view that leasing = very bad and everyone who leases has sold their soul to the devil.
TarpaTow said:
I work in the finance arena and I want a car that provides the right image, so that people know they're dealing with someone of substance who knows the importance of creating the right image.
Driving a BMW lets people know how successful you are and that you can afford the very best.
It would be impossible at my age to be able to pay cash for a car, and sales people in the garages know that, so they do whatever they can to get the customer in the right car and I've always gone with their suggestions as to how to maximise what I can have from my monthly contributions.
How the car makes you feel is important and a BM makes you feel mega and you know neighbours and friends are mega impressed. So people pay as much as they can.
I'm not on 100k yet but when I am I would be able to afford any car I want, probably an Aston, which has a supermega image and might even be better than even a BM.
If you're serious I sincerely hope that you're under the age of 25 and just don't know any better yet. If not I really feel genuinely sorry for you. Driving a BMW lets people know how successful you are and that you can afford the very best.
It would be impossible at my age to be able to pay cash for a car, and sales people in the garages know that, so they do whatever they can to get the customer in the right car and I've always gone with their suggestions as to how to maximise what I can have from my monthly contributions.
How the car makes you feel is important and a BM makes you feel mega and you know neighbours and friends are mega impressed. So people pay as much as they can.
I'm not on 100k yet but when I am I would be able to afford any car I want, probably an Aston, which has a supermega image and might even be better than even a BM.
swerni said:
hora said:
Zero. It owes me zero.
In Manchester there are ALOT of lease Mercs driven around by young drivers in sunglasses.
What's the point? Impress strangers? I spoke to one in a Porsche Cayenne and he admitted he paid £650 a month leasing it!
"Admit" ?In Manchester there are ALOT of lease Mercs driven around by young drivers in sunglasses.
What's the point? Impress strangers? I spoke to one in a Porsche Cayenne and he admitted he paid £650 a month leasing it!
You make it sound like he was doing something wrong
swerni said:
Now that makes perfect sense
Maybe, I'd been at the Laqunitas for a few hours last night. I made the classic error of applying my own low running and petrol costs to the wider community (plus I'd spend 12k on a bicycle, and then lease a car which probably makes me a bit "special" in a short bus way). Anyway, naughty beers.Thinking clearly,
1. Disagree with the OP
2. Interesting car choice, is interesting
3. How it is paid for is irrelevant. If new car margins are so low, and the car is now just a conduit to sell higher yielding finance products - profits which in turn are retained by said manufacturer or reinvested in R&D; don't all car enthusiasts gain? More sheds in a few years and all the white Audis will be "scene", stanced and slammed. Win win.
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