Anyone into cars but not credit?
Discussion
NickCQ said:
Audemars said:
As for a £850k house generating a rental of only £1750, that is very far from the norm and the landlord in that case is not financially astute.
2.5% gross rental yield seems a little skinny, I grant you, but the data supports it for more 'exclusive' London postcodes (not that you'd get much for £850k in any of them), link below. A figure around 3 - 3.5% may be more reasonable, and as I mentioned above, without expectations of capital growth there's very little financial advantage to buying rather than renting at those levels.http://www.londonpropertywatch.co.uk/average_renta...
Actually, looks like you have to go pretty far out (i.e. where I live!) to get over 3.5%
https://www.portico.com/yields
For the record I have a PCP'd M5 and leased Golf R and rent, so I'm doing it all wrong. But I enjoy the cars, love where I live and don't give a f
k what the non-existent neighbours think.Edited by theboss on Monday 24th October 13:46
daemon said:
You said there was a report extract that said if people had £1000 savings the bankruptcy rate would go down significantly.
You would need to have an awful lot more in financial assets to stop going bankrupt than £1000
Hence why it's nonsense.
HTH
My mistake it was - Anti-debt charity Step Change says that, if every household in the UK had £1,000 saved, it would reduce the number falling into problem debt by half a million.You would need to have an awful lot more in financial assets to stop going bankrupt than £1000
Hence why it's nonsense.
HTH
Not bankruptcy, you're correct.
Cant people just accept that some people will chose to finance a car, and how they manage their money is quite probably something they deal with privately, so surmising about how they could otherwise spend their savings (if they have any) doesnt actually provide any sort of solid argument either way.
If you have available income to purchase a car, or chose to purchase much cheaper cars you can afford outright, that's good and can work well (proving you have a slush fund in case of a major issue), but choosing to lease/rent a more expensive car without any of the older used car (potential) issues may be a much more attractive prospect to some.
In my case I have been burnt on a couple used cars recently, and am absolutely sick of having an older car that is problematic, and spending more and more money on keeping it running. It becomes a diminishing return to keep it running, and it took away any enjoyment of ownership.
If you have available income to purchase a car, or chose to purchase much cheaper cars you can afford outright, that's good and can work well (proving you have a slush fund in case of a major issue), but choosing to lease/rent a more expensive car without any of the older used car (potential) issues may be a much more attractive prospect to some.
In my case I have been burnt on a couple used cars recently, and am absolutely sick of having an older car that is problematic, and spending more and more money on keeping it running. It becomes a diminishing return to keep it running, and it took away any enjoyment of ownership.
Colonial said:
So... anyone into cars but doesn't give a flying fk how other people pay for them, where they live or their house ownership status?
Haha Yes.k how other people pay for them, where they live or their house ownership status?Thread synopsis:
Credit works for some and some people are 'in to it'...
Buying with cash works for some and some people are 'in to it'....
Edited by supercommuter on Monday 24th October 14:48
supercommuter said:
Colonial said:
So... anyone into cars but doesn't give a flying fk how other people pay for them, where they live or their house ownership status?
Haha Yes.k how other people pay for them, where they live or their house ownership status?Thread synopsis:
Credit works for some and some people are 'in to it'...
Buying with cash works for some and some people are 'in to it'....
Edited by supercommuter on Monday 24th October 14:48
ChasW said:
I hope he survives the inevitable rise in interest rates. I consider myself lucky that I lived through 15.5% interest rates (my first mortgage) and, later on, one full scale property crash. When you know what can happen a degree of caution sets in.
Not sure if this is in response to what i just posted and deleted? If so - yes, hence offering a roof over their head and paying off any debts. if not - sorry!
BobSaunders said:
ChasW said:
I hope he survives the inevitable rise in interest rates. I consider myself lucky that I lived through 15.5% interest rates (my first mortgage) and, later on, one full scale property crash. When you know what can happen a degree of caution sets in.
Not sure if this is in response to what i just posted and deleted? If so - yes, hence offering a roof over their head and paying off any debts. if not - sorry!
Driver101 said:
For some reason, I read each instance of POS as 'piece of st' in that link. 
Am I right in thinking that 85% of new car sales recently were all financed?
funkyrobot said:
For some reason, I read each instance of POS as 'piece of st' in that link.
Am I right in thinking that 85% of new car sales recently were all financed?
People always borrowed money to buy new cars, or second hand ones that's hardly anything new, but in generations past people got bank loans or loans from employers etc... Leasing and other financing deals were just a way for the manufacturers to make a bit of extra money and take a bit of control over how their motors are bought and resold.t' in that link. Am I right in thinking that 85% of new car sales recently were all financed?
One of the reasons I've never leased or HP is I don't quite like the idea of having a fixed deadline date when I have to let go of one car and sort myself out a new one, it must be terribly anxiety inducing. I like the idea of just running a car I don't need to pay for for as long as it takes me to sort out a new one.
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