What % of NET monthly salary do you spend on your car
Discussion
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
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!
Haha, you what? 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!
What's the point?
Why does anyone drive around in a car they like?
I swap my cars regularly as I like to try completely different things. My previous example was a Mercedes CLS. That apparently cost the original owner £75k, or whatever daft amount of money per month. I bought it for £9k on 50k miles, ran it for a year, then sold it for the same. I've done this on loads of cars. It does not always work out! However on the occasion it does, it is possible to spend 0%. Excluding fuel, insurance, tyres etc. Ok not free at all, but man maths free. Sometimes.
gangzoom said:
I'm about to start taking to work about dropping my hours, taking a 30% pay cut so that I can spend more time with my newly born daughter. Couldn't careless how/what other people spend/earn their cash. There is more to life than just chasing the £.
I did the same. I gave up my career in London to go freelance. I have so many memories of taking my pre-school daughter to the park during the week. There is nothing more valuable in life. Enjoy those times.The grasping of numbers on paper is an exceptionally sad way to waste your life away.
battered said:
lostkiwi said:
Get real.
Excess debt was the cause of the current financial difficulties the world is in.
There was a time before PCPs and leasing where cars were bought from savings and not with finance. Funnily enough they were times when global economies were quite buoyant.
Come off it. People have borrowed money for cars for decades. Companies have leased cars for years. The only change is that money is dirt cheap at the moment so a dealer borrowing money to lease me or you a car for £x a months is a very viable business model. It makes personal sense too, for the likes of my parents it means "we don't have to keep £15 -20k tied up in a car, bacause at our time of life we don't want that money tied up in case we need it". Excess debt was the cause of the current financial difficulties the world is in.
There was a time before PCPs and leasing where cars were bought from savings and not with finance. Funnily enough they were times when global economies were quite buoyant.
Leasing is indeed good for the economy. I know at least 1 BMW dealer is getting £200+ a month of my parents' pension for the next 4 years, and I'm very sure that BMW UK aren't crying about that.
Money is dirt cheap not because there is surplus supply generated from savings which were triggered by organic growth - which is the healthy way to grow and increases wealth of nations. This was roughly the way the economy grew and economic cycles were based on until about beginning of noughties.
Money is dirt cheap because it is printed in quantities never seen before which puts money into pockets of companies at an expense of the taxpayer (this debt is backed by taxpayers). Taxpayer then takes out the same money that was printed at their expense and borrows it (so they indebt themselves again this time directly) paying f
king premium i.e. interest for the money that they technically own to companies that borrow the printed money at close to 0% cost and pocket majority of the interest and avoid paying taxes meaning they are not taxpayers themselves so have 0 fking risk in this setup. The same taxpayer will pay for it again once the need for another bailout arises which is not an if but when. So yeah. Go buy s
t you couldn't afford and don't need after all everybody does it so why shouldn't you.Artey said:
Quick economy lesson because the brainwash is strong with this one.
Money is dirt cheap not because there is surplus supply generated from savings which were triggered by organic growth - which is the healthy way to grow and increases wealth of nations. This was roughly the way the economy grew and economic cycles were based on until about beginning of noughties.
Money is dirt cheap because it is printed in quantities never seen before which puts money into pockets of companies at an expense of the taxpayer (this debt is backed by taxpayers). Taxpayer then takes out the same money that was printed at their expense and borrows it (so they indebt themselves again this time directly) paying fking premium i.e. interest for the money that they technically own to companies that borrow the printed money at close to 0% cost and pocket majority of the interest and avoid paying taxes meaning they are not taxpayers themselves so have 0 fking risk in this setup. The same taxpayer will pay for it again once the need for another bailout arises which is not an if but when.
So yeah. Go buy st you couldn't afford and don't need after all everybody does it so why shouldn't you.
But his parents simply decided to lease the car rather than use their money as it was a cheaper way to do what they were going to do anyway. No one said anything about buying sMoney is dirt cheap not because there is surplus supply generated from savings which were triggered by organic growth - which is the healthy way to grow and increases wealth of nations. This was roughly the way the economy grew and economic cycles were based on until about beginning of noughties.
Money is dirt cheap because it is printed in quantities never seen before which puts money into pockets of companies at an expense of the taxpayer (this debt is backed by taxpayers). Taxpayer then takes out the same money that was printed at their expense and borrows it (so they indebt themselves again this time directly) paying f
king premium i.e. interest for the money that they technically own to companies that borrow the printed money at close to 0% cost and pocket majority of the interest and avoid paying taxes meaning they are not taxpayers themselves so have 0 fking risk in this setup. The same taxpayer will pay for it again once the need for another bailout arises which is not an if but when. So yeah. Go buy s
t you couldn't afford and don't need after all everybody does it so why shouldn't you.t they can't afford. And again, this is where many seem to get confused, many can afford to buy it outright, but when renting it is cheaper why would you?
It seems many people can't get their heads around people loading themselves up with debt for things they don't need vs buying things they do need at the cheapest possible price.
gizlaroc said:
But his parents simply decided to lease the car rather than use their money as it was a cheaper way to do what they were going to do anyway. No one said anything about buying st they can't afford.
And again, this is where many seem to get confused, many can afford to buy it outright, but when renting it is cheaper why would you?
It seems many people can't get their heads around people loading themselves up with debt for things they don't need vs buying things they do need at the cheapest possible price.
Read my post again, his parents, him, you and I have paid for this debt once, they pay directly for it now (this is the only bit 99% see and understand) and we will pay for that in the future. So if you say that paying 3 times for the same thing makes sense then I'm out. As for those companies that make a killing on it - as he said "I'm very sure that BMW UK aren't crying about that", of course they aren't. And it's not BMW UK it's BMW AG who make a killing for their Mutterland using UK taxpayers backed money, with zero risk to their Mutterland. And then ironically Mutterland bails out countries that default on debt. Where do you think they get the money from.t they can't afford. And again, this is where many seem to get confused, many can afford to buy it outright, but when renting it is cheaper why would you?
It seems many people can't get their heads around people loading themselves up with debt for things they don't need vs buying things they do need at the cheapest possible price.
Artey said:
gizlaroc said:
But his parents simply decided to lease the car rather than use their money as it was a cheaper way to do what they were going to do anyway. No one said anything about buying st they can't afford.
And again, this is where many seem to get confused, many can afford to buy it outright, but when renting it is cheaper why would you?
It seems many people can't get their heads around people loading themselves up with debt for things they don't need vs buying things they do need at the cheapest possible price.
Read my post again, his parents, him, you and I have paid for this debt once, they pay directly for it now (this is the only bit 99% see and understand) and we will pay for that in the future. So if you say that paying 3 times for the same thing makes sense then I'm out. As for those companies that make a killing on it - as he said "I'm very sure that BMW UK aren't crying about that", of course they aren't. And it's not BMW UK it's BMW AG who make a killing for their Mutterland using UK taxpayers backed money, with zero risk to their Mutterland. And then ironically Mutterland bails out countries that default on debt. Where do you think they get the money from.t they can't afford. And again, this is where many seem to get confused, many can afford to buy it outright, but when renting it is cheaper why would you?
It seems many people can't get their heads around people loading themselves up with debt for things they don't need vs buying things they do need at the cheapest possible price.
This one is going to start spouting Freeman on the Land stuff next.
Clearly this topic has resulted in another debate of buying outright vs leasing/financing. So for a start OP thanks. It's not like we get enough of them is it? 
I lease. I never thought i would as i used to be against having something i can't afford outright. However, it just works for me. I don't go round waving my willy about in my brand spanking new car and spitting on people in older/used cars. I genuinely think that's what people think at times.
I couldn't care less. I have my reason for doing so but i don't think i'm better than anyone else for doing it. I just like having fixed payments with no nasty surprises each month so i can manage my money easier. It's especially good now I've moved out from home 3 weeks ago.
Horses for courses. Let people spend/waste money on cars however they please. You're most likely gonna be making a loss somewhere down the line regardless no matter what option you pick.
I lease. I never thought i would as i used to be against having something i can't afford outright. However, it just works for me. I don't go round waving my willy about in my brand spanking new car and spitting on people in older/used cars. I genuinely think that's what people think at times.
I couldn't care less. I have my reason for doing so but i don't think i'm better than anyone else for doing it. I just like having fixed payments with no nasty surprises each month so i can manage my money easier. It's especially good now I've moved out from home 3 weeks ago.
Horses for courses. Let people spend/waste money on cars however they please. You're most likely gonna be making a loss somewhere down the line regardless no matter what option you pick.
I love the fact so many people buy premium cars on financed lease deals without a care in the world to the actual cost. It means there is an endless supply of decent used cars which have already taken a massive depreciation hit. The more people who sign their life away the better. I rather enjoyed the fact I got to drive the same Mercedes as the original buyer at a fraction of the cost. Instead of losing £66,000 on depreciation I lost zero pounds for a year of running about (fuel & consumables excluded). Not a bad deal. So please, keep up with the ever changing number plate rat race and rental payments
k-ink said:
I love the fact so many people buy premium cars on financed lease deals without a care in the world to the actual cost. It means there is an endless supply of decent used cars which have already taken a massive depreciation hit. The more people who sign their life away the better. I rather enjoyed the fact I got to drive the same Mercedes as the original buyer at a fraction of the cost. Instead of losing £66,000 on depreciation I lost zero pounds for a year of running about (fuel & consumables excluded). Not a bad deal. So please, keep up with the ever changing number plate rat race and rental payments
How do you know that? They could be getting a belting deal and paying peanuts over the term in respect to the car's worth and depreciation. There's a whole forum dedicated to it it on here "Best Lease Deals".You are right to a degree. There's probably a good few people that just pay whatever the monthly cost and as long as they can afford it they will just do it. But there will also be a good deal of individuals getting some absolute bargains for pretty decent motors.
Don't assume everyone's getting bent over backwards. Not all of us are daft.
Artey said:
battered said:
lostkiwi said:
Get real.
Excess debt was the cause of the current financial difficulties the world is in.
There was a time before PCPs and leasing where cars were bought from savings and not with finance. Funnily enough they were times when global economies were quite buoyant.
Come off it. People have borrowed money for cars for decades. Companies have leased cars for years. The only change is that money is dirt cheap at the moment so a dealer borrowing money to lease me or you a car for £x a months is a very viable business model. It makes personal sense too, for the likes of my parents it means "we don't have to keep £15 -20k tied up in a car, bacause at our time of life we don't want that money tied up in case we need it". Excess debt was the cause of the current financial difficulties the world is in.
There was a time before PCPs and leasing where cars were bought from savings and not with finance. Funnily enough they were times when global economies were quite buoyant.
Leasing is indeed good for the economy. I know at least 1 BMW dealer is getting £200+ a month of my parents' pension for the next 4 years, and I'm very sure that BMW UK aren't crying about that.
king grow up.[quote]So yeah. Go buy s
t you couldn't afford and don't need after all everybody does it so why shouldn't you.t they can't afford? My folks have pensions investments enough to cash in and buy any car. They are choosing not to. They are leasing, because it's known cost, no worries about tradein, and they keep the money in the funds. Are they right? I personally doubt it because of low savings yields but it's their money, they aren't in debt. They have 2 pensions coming in, they can fund it easily from the 2 pension incomes.As to who borows the money, BMW do as a corporate loan. You can drop the "mutterland" dogwhistle nonsense because BMW are part of the global economy, like everyone else they are shareholder owned and the hsares are owned by pensions providers, corporate investors, who knows what. I doubt anyone knows the real ownership profile of BMW shares, and where they are. One thing I do know - I'd bet that some of my parent's pension income comes from pension provider companies that have shares in BMW.
k-ink said:
I love the fact so many people buy premium cars on financed lease deals without a care in the world to the actual cost.
How do you know that?Surely the lease cost is a simple exercise to work out? Deposit + monthly payments? Doesnt seem complicated.
If people are happy with the monthly payments, the car, and the term then whats the issue?
k-ink said:
It means there is an endless supply of decent used cars which have already taken a massive depreciation hit.
Of course. New buyers get preferential PCP deals or low cost leases and used buyers get to buy the cars when the original customer moves on to something new.The issue is obvious. Some people are jealous of the bricklayer over the road in the new Mercedes.
They are smart enough to know it's borrowed, but that doesn't stop them being jealous so they have to take it further and say it's not a financially viable thing to do, making them better than him in their eyes.
He's bad with money, irresponsible, has the wrong priorities, and will even be responsible for next collapse of the economy.
Poor bd probably works hard for the repayments, and just wants a nice car.
They are smart enough to know it's borrowed, but that doesn't stop them being jealous so they have to take it further and say it's not a financially viable thing to do, making them better than him in their eyes.
He's bad with money, irresponsible, has the wrong priorities, and will even be responsible for next collapse of the economy.
Poor b
d probably works hard for the repayments, and just wants a nice car.Gassing Station | General Gassing | Top of Page | What's New | My Stuff