Anyone into cars but not credit?
Discussion
daemon said:
Genuinely - if you know for a fact that a load of people where you work are killing themselves to pay a pyment on some euro box then fair enough, but sorry, I am just not seeing it.
Open your eyes then, how do you think so many expensive cars are on the road despite average incomes being in the high 20's PA? - Maybe its the area you live in?You seem to look for extremes in everything like your alcoholic and morbidly obese example, maybe people are not 'killing themselves' to make payment on a car but that wasn't my point - My point was that if things went wrong somewhere then they would be and that many just don't think that way.
Rick1.8t said:
Open your eyes then, how do you think so many expensive cars are on the road despite average incomes being in the high 20's PA? - Maybe its the area you live in?
You seem to look for extremes in everything like your alcoholic and morbidly obese example, maybe people are not 'killing themselves' to make payment on a car but that wasn't my point - My point was that if things went wrong somewhere then they would be and that many just don't think that way.
You seem to look for extremes in everything like your alcoholic and morbidly obese example, maybe people are not 'killing themselves' to make payment on a car but that wasn't my point - My point was that if things went wrong somewhere then they would be and that many just don't think that way.
As they would be with any other credit commitment including mortgages.
The point is the underlying issue is surely a reckless approach to personal finance not the use of car credit ?
Rick1.8t said:
daemon said:
Genuinely - if you know for a fact that a load of people where you work are killing themselves to pay a pyment on some euro box then fair enough, but sorry, I am just not seeing it.
Open your eyes then, how do you think so many expensive cars are on the road despite average incomes being in the high 20's PA? - Maybe its the area you live in?You seem to look for extremes in everything like your alcoholic and morbidly obese example, maybe people are not 'killing themselves' to make payment on a car but that wasn't my point - My point was that if things went wrong somewhere then they would be and that many just don't think that way.
Rick1.8t said:
Open your eyes then, how do you think so many expensive cars are on the road despite average incomes being in the high 20's PA? - Maybe its the area you live in?
Boom. - there we go again. Making the assumption that people on £20k a year are the ones leasing cars. Rick1.8t said:
You seem to look for extremes in everything like your alcoholic and morbidly obese example, maybe people are not 'killing themselves' to make payment on a car but that wasn't my point - My point was that if things went wrong somewhere then they would be and that many just don't think that way.
And what happenew in the last recession when cars weren't worth what the gmfv? People handed them back in their droves at the end of the termAnd what happened to the people who were previously leasing £300 top spec cars? They leased lower spec cars for their £300 instead. OR - and this may be a shocker for you - they bought a cheap used car instead!!
If people did lose their jobs during the recession, what's easier to justify keeping when suddenly faced with a restricted cash flow - a car with a £200 a month payment to make for a couple of months until they get another job or getting rid of a cash purchased car in a fire sale? Which cost more?
Audemars said:
£1100 for mortgage and bills?
Not sure where you live but to spend £600pm on any car I would want to be in a 5 bed detached at a minimum even if I was single.
My first job out of uni gave me £4k net pm. I remember feeling very broke at the time. Mind you the mortgage payments on any of my houses were never less than £2k pm
Why would I want to live in a 5-bed detached property if single ..... Not sure where you live but to spend £600pm on any car I would want to be in a 5 bed detached at a minimum even if I was single.
My first job out of uni gave me £4k net pm. I remember feeling very broke at the time. Mind you the mortgage payments on any of my houses were never less than £2k pm
Edited by Audemars on Wednesday 19th October 15:59
RSK21 said:
Rick1.8t said:
Open your eyes then, how do you think so many expensive cars are on the road despite average incomes being in the high 20's PA? - Maybe its the area you live in?
You seem to look for extremes in everything like your alcoholic and morbidly obese example, maybe people are not 'killing themselves' to make payment on a car but that wasn't my point - My point was that if things went wrong somewhere then they would be and that many just don't think that way.
You seem to look for extremes in everything like your alcoholic and morbidly obese example, maybe people are not 'killing themselves' to make payment on a car but that wasn't my point - My point was that if things went wrong somewhere then they would be and that many just don't think that way.
As they would be with any other credit commitment including mortgages.
The point is the underlying issue is surely a reckless approach to personal finance not the use of car credit ?
Hence my examples of alcoholism and morbid obesity.
In moderation and with a sensible approach alcohol and fine dining is acceptable
Unmanaged and it's a severe problem
That doesn't mean 99% of us can't make a reasoned decision on alcohol, food or finance.
MDL111 said:
Audemars said:
£1100 for mortgage and bills?
Not sure where you live but to spend £600pm on any car I would want to be in a 5 bed detached at a minimum even if I was single.
My first job out of uni gave me £4k net pm. I remember feeling very broke at the time. Mind you the mortgage payments on any of my houses were never less than £2k pm
Why would I want to live in a 5-bed detached property if single ..... Not sure where you live but to spend £600pm on any car I would want to be in a 5 bed detached at a minimum even if I was single.
My first job out of uni gave me £4k net pm. I remember feeling very broke at the time. Mind you the mortgage payments on any of my houses were never less than £2k pm
Edited by Audemars on Wednesday 19th October 15:59
RSK21 said:
As I remember it you showed a lot more passion for cars in your forum life on Alfaowner than you do here .i fear over there you would have your membership rescinded for even typing Kia let alone advocating one on the basis of fuel
Economy etc
Oh, don't worry I still do. I think it's wonderful that I can pick up some variant of an Alfa v6 for a few hundred quid. Of course I then spoil it by spending a bloody fortune rebuilding them as I'm picky. I should probably get a leased Bentley, it would be cheaper. Economy etc
Edited by RSK21 on Sunday 23 October 19:16
My point is this. We seem to have been conditoned in this country to spend money on cars - far more than any other European country I've been in in the last year or so. Posters are justifying leasing a 318 vs buying a 318, and to be honest the logic is largely impeccable. The real question is why we are having this discussion, and why we think spending so much on run of the mill cars is 'normal'. Doesn't matter whether you lease or buy it, the numbers are astronomical.
daemon said:
Rick1.8t said:
Open your eyes then, how do you think so many expensive cars are on the road despite average incomes being in the high 20's PA? - Maybe its the area you live in?
Boom. - there we go again. Making the assumption that people on £20k a year are the ones leasing cars. daemon said:
Rick1.8t said:
Open your eyes then, how do you think so many expensive cars are on the road despite average incomes being in the high 20's PA? - Maybe its the area you live in?
Boom. - there we go again. Making the assumption that people on £20k a year are the ones leasing cars. Rick1.8t said:
You seem to look for extremes in everything like your alcoholic and morbidly obese example, maybe people are not 'killing themselves' to make payment on a car but that wasn't my point - My point was that if things went wrong somewhere then they would be and that many just don't think that way.
And what happenew in the last recession when cars weren't worth what the gmfv? People handed them back in their droves at the end of the termAnd what happened to the people who were previously leasing £300 top spec cars? They leased lower spec cars for their £300 instead. OR - and this may be a shocker for you - they bought a cheap used car instead!!
If people did lose their jobs during the recession, what's easier to justify keeping when suddenly faced with a restricted cash flow - a car with a £200 a month payment to make for a couple of months until they get another job or getting rid of a cash purchased car in a fire sale? Which cost more?
You are just repeating your previous garbage about handing back cars, you cant hand a lease car back without penalty and you are yet again making the assumption that somebody handing back a PCP car early could afford to buy a cheap used car, you are not on this planet, are you? - Some can only just afford monthly payments and cant raise used car money.
The £300 top spec car figure is something you have assumed, and you are still missing the fact that if you lose your job, have to take a pay-cut, or your interest rates rise making your mortgage / life that bit more expensive you wont have £300PM to spend on anything.
Why are you arguing common sense, that some people are more stupid than others and that in the event of financial change they could be put in difficulty, or is the air too thin up on that throne of yours?
nickfrog said:
Exactly. If I feel that the lease deal for a new car is a better deal than cash (as it is sometimes the case) my income level is utterly irrelevant. I'll go for value so if anything I'll be the more financially prudent by dedicating less income to the car spend. I am not saying that all leasers think like that and that a lease is always better btw, as this would be a naive assumption. Shades of grey, not b&w.
Exactly.Why is it so hard for the binary thinkers on either side to grasp this remarkably simple concept ?
Driver101 said:
What was the news a few weeks back? 17m people have less than £100 savings. There's a lot of those people sitting with expensive cars outside the house
How do you know these are the same people?There are plenty living hand to mouth but please tell me how you know these are the same people that have expensive leased cars.
Rick1.8t said:
Boom? are you some kind of Donald Trump character or something? - Assumptions of the average person in our society leasing / financing cars, what a silly assumption!
You are just repeating your previous garbage about handing back cars, you cant hand a lease car back without penalty and you are yet again making the assumption that somebody handing back a PCP car early could afford to buy a cheap used car, you are not on this planet, are you? - Some can only just afford monthly payments and cant raise used car money.
The £300 top spec car figure is something you have assumed, and you are still missing the fact that if you lose your job, have to take a pay-cut, or your interest rates rise making your mortgage / life that bit more expensive you wont have £300PM to spend on anything.
Why are you arguing common sense, that some people are more stupid than others and that in the event of financial change they could be put in difficulty, or is the air too thin up on that throne of yours?
You are just repeating your previous garbage about handing back cars, you cant hand a lease car back without penalty and you are yet again making the assumption that somebody handing back a PCP car early could afford to buy a cheap used car, you are not on this planet, are you? - Some can only just afford monthly payments and cant raise used car money.
The £300 top spec car figure is something you have assumed, and you are still missing the fact that if you lose your job, have to take a pay-cut, or your interest rates rise making your mortgage / life that bit more expensive you wont have £300PM to spend on anything.
Why are you arguing common sense, that some people are more stupid than others and that in the event of financial change they could be put in difficulty, or is the air too thin up on that throne of yours?
Imagine you're King for a day - what would you do about the situation as you see it ?
nickfrog said:
daemon said:
Rick1.8t said:
Open your eyes then, how do you think so many expensive cars are on the road despite average incomes being in the high 20's PA? - Maybe its the area you live in?
Boom. - there we go again. Making the assumption that people on £20k a year are the ones leasing cars. I am making no assumption about the reasons people lease, its the same way people stereotype those that voted for Brexit - many were well informed and understood their decision while there were also many that had no clue what they were doing and voted for their own stupid mis-informed reasons.
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