Anyone into cars but not credit?
Discussion
Audemars said:
£600 a month???
People are clueless with money. They think they can afford £600 per month but they really cant. When looking at things from a big picture point of view, a net income of £4k per month can not afford car payments of £600 per month.
Yet so many people can not see this.
Honestly? cant afford £600pm out of a £4000 pm wage? People are clueless with money. They think they can afford £600 per month but they really cant. When looking at things from a big picture point of view, a net income of £4k per month can not afford car payments of £600 per month.
Yet so many people can not see this.
on a 4k wage I could afford to splash out over 1k pm and still have around 1.5k pm savings.
I earn min wage on a non full time job, I own my house, my car I paid cash and my motorbike I bought in feb for 7k with a 3k deposit and rest over a year.
Granted I live in Belfast but the only thing cheaper here is the property, everything else you need day to day is more expensive for the most part.
Each to their own -personally I couldn't see myself spending that much on lease/repayments regardless of disposable income as there is other things in life I want to do - it's also part of the journey up to nicer cars is experiencing all the different types and levels of cars.
I have no issue whether it is cash or finance (used both) but by the time you add tax, insurance, fuel and the odd repair you're over £1k a month for something that doesn't get the juices flowing.
I have no issue whether it is cash or finance (used both) but by the time you add tax, insurance, fuel and the odd repair you're over £1k a month for something that doesn't get the juices flowing.
Edited by Herbs on Wednesday 19th October 14:59
Audemars said:
£600 a month???
People are clueless with money. They think they can afford £600 per month but they really cant. When looking at things from a big picture point of view, a net income of £4k per month can not afford car payments of £600 per month yet the average net income is closer to £2k PM.
Amazing so many people can not see this.
what ? I take it maths isn't your strong point. or are you assuming they have a 4k monthly mortgage repayment, or a massive coke problem People are clueless with money. They think they can afford £600 per month but they really cant. When looking at things from a big picture point of view, a net income of £4k per month can not afford car payments of £600 per month yet the average net income is closer to £2k PM.
Amazing so many people can not see this.
plenty people don't have mortgages and a high disposable income.
You should stick a pic in your profile OverSteery said:
Mr Roper said:
Make it stop.
Please.
Not a chance, this has 30 pages left to go.Please.
Personally I buy my cars on a Wonga load. What exactly does 1200% APR mean
you will notice that as you buy cars with bigger engines this number goes up - so a 2 litre TDi will be 1950% APR and a 4 litre V8 will be about 3998% APR
hope that helps
walm said:
stupidbutkeen said:
Honestly? cant afford £600pm out of a £4000 pm wage?
...
I own my house.
...
I am pretty confident you are far from the average or normal £4k pm wage-earner!!...
I own my house.
...
I assume a 4k pm earner would be a 'go getter' always wanting or needing more.
I buy my cars outright and in in cash. I don't like the idea of spending a huge sum of money and not having the means/balls to do it in one go. 4K for a car doesn't sound much until you've got 4k in your hand. I guess it's a perspective thing. This of course means that my cars are never very expensive :-D
To me, paying monthly is like fooling yourself into thinking you can afford something. Granted, everyone's position and means are different.
To me, paying monthly is like fooling yourself into thinking you can afford something. Granted, everyone's position and means are different.
stupidbutkeen said:
Honestly? cant afford £600pm out of a £4000 pm wage?
on a 4k wage I could afford to splash out over 1k pm and still have around 1.5k pm savings.
I earn min wage on a non full time job, I own my house, my car I paid cash and my motorbike I bought in feb for 7k with a 3k deposit and rest over a year.
Granted I live in Belfast but the only thing cheaper here is the property, everything else you need day to day is more expensive for the most part.
Minimum wage, about £16k a year if working full time, £12K after Tax and NI maybe so taking home £1K per month and you are paying £333 per month for a loan...... I can imagine insurance in Belfast is not cheap either.on a 4k wage I could afford to splash out over 1k pm and still have around 1.5k pm savings.
I earn min wage on a non full time job, I own my house, my car I paid cash and my motorbike I bought in feb for 7k with a 3k deposit and rest over a year.
Granted I live in Belfast but the only thing cheaper here is the property, everything else you need day to day is more expensive for the most part.
stupidbutkeen said:
I would put money on you being right, I earn nmw and am happy to do so, I could earn more by getting back into hgv work but I have no need for the money, I have savings I have no morgage I have no debt.
I assume a 4k pm earner would be a 'go getter' always wanting or needing more.
Not really.I assume a 4k pm earner would be a 'go getter' always wanting or needing more.
Its not exactly footballer money is it.
I thought long and hard about spending £6k on a car, let alone £6k per year on one.
The amusing thing about these threads is that there are people who think you would be insane and financially reckless to run a large engined twelve year old barge when you could run a brand new leased city car for about the same cost as just fuelling the barge.
(£120/month lease, 55mpg, 10,000 miles per annum, £1.15/litre = £186/month)
(20mpg, 10,000 miles per annum, £1.15/litre = £181/month)
That's a lease with no VED to pay too.
The PH car enthusiast view of what amounts to value for money and financial probity is not that of all of the white goods buying public.
(£120/month lease, 55mpg, 10,000 miles per annum, £1.15/litre = £186/month)
(20mpg, 10,000 miles per annum, £1.15/litre = £181/month)
That's a lease with no VED to pay too.
The PH car enthusiast view of what amounts to value for money and financial probity is not that of all of the white goods buying public.
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