Anyone into cars but not credit?

Anyone into cars but not credit?

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daemon

35,829 posts

197 months

Sunday 23rd October 2016
quotequote all
okgo said:
You will never convince him.

The facts are there, but he won't listen.
What facts?

Hearsay and assumptions?


Rick1.8t

1,463 posts

179 months

Sunday 23rd October 2016
quotequote all
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.

anonymous-user

54 months

Sunday 23rd October 2016
quotequote all
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.

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 ?



DoubleD

22,154 posts

108 months

Sunday 23rd October 2016
quotequote all
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.
I'm with Daemon on this one.

nickfrog

21,172 posts

217 months

Sunday 23rd October 2016
quotequote all
Could someone supply evidence that the current level of consumer debt is a particularly high threat to the economy ?

daemon

35,829 posts

197 months

Sunday 23rd October 2016
quotequote all
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 term

And 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?

MDL111

6,954 posts

177 months

Sunday 23rd October 2016
quotequote all
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

Edited by Audemars on Wednesday 19th October 15:59
Why would I want to live in a 5-bed detached property if single .....

daemon

35,829 posts

197 months

Sunday 23rd October 2016
quotequote all
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.

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 ?
Exactly.

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.



DoubleD

22,154 posts

108 months

Sunday 23rd October 2016
quotequote all
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

Edited by Audemars on Wednesday 19th October 15:59
Why would I want to live in a 5-bed detached property if single .....
Just ignore him.

rxe

6,700 posts

103 months

Sunday 23rd October 2016
quotequote all
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 wink


Edited by RSK21 on Sunday 23 October 19:16
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.

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.





Driver101

14,376 posts

121 months

Granfondo

12,241 posts

206 months

Sunday 23rd October 2016
quotequote all
daemon said:
gizlaroc said:
People like Granfondo are just snobs. They can't help themselves.
He's not a snob.

He's a troll.

If you were to delve into his finances I am sure they are less than perfect. wink
Nobody's finances are perfect are they FCD!
People in glass houses..... biggrin

funkyrobot

18,789 posts

228 months

Sunday 23rd October 2016
quotequote all
Driver101 said:
And that was in January. smile

nickfrog

21,172 posts

217 months

Sunday 23rd October 2016
quotequote all
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.
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.

Rick1.8t

1,463 posts

179 months

Sunday 23rd October 2016
quotequote all
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 term

And 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?
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?


anonymous-user

54 months

Sunday 23rd October 2016
quotequote all
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 ?

Devil2575

13,400 posts

188 months

Sunday 23rd October 2016
quotequote all
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.

anonymous-user

54 months

Sunday 23rd October 2016
quotequote all
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?

Imagine you're King for a day - what would you do about the situation as you see it ?

Rick1.8t

1,463 posts

179 months

Sunday 23rd October 2016
quotequote all
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.
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.
What point are you making there? Again you have the knowledge to decide if one situation is financially better than the other, can you understand that many people out there don't have this knowledge?

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.

kambites

67,578 posts

221 months

Sunday 23rd October 2016
quotequote all
Devil2575 said:
How do you know these are the same people?
I know at least some of them are the same people, because I know some of them (if that makes sense?). I'd tend to agree that most are probably not, though.
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