Anyone into cars but not credit?

[daemon]

Driver101 said:

daemon said:

Its not a statement i cant back up.

There we go

https://www.moneyadviceservice.org.uk/blog/only-10...

A minority (1 in 10) people have no disposable income at month end.

And i wholeheartedly agree that that is wrong for people to be living like that.

A poll based on 2000 people is going to give accurate results?

How does that back up your opinion? 1 in 10 has less than £10 per month.

Only 14% have over £500 per month disposable income per month. That's also a minority.

The average monthly disposable income is £187, which is £38 down from 2013.

£187 per month disposable income per month isn't much at all. One unexpected bill could wipe them out for months.

Yup.

Its a statistic though. And you asked for a statistic

Maybe ring the Money Advice Service if you're unhappy with the poll size.

And sure thats what people have been doing on here - plucking statistics out and interpreting them to suit themselves.

And yes, 14% have more than £500 a month available. Maybe they're the ones who lease cars

[Driver101]

daemon said:

Yup.

Its a statistic though. And you asked for a statistic

Sure thats what people have been doing on here - plucking statistics out and interpreting them to suit themselves.

And yes, 14% have more than £500 a month available. Maybe they're the ones who lease cars

I asked for a statistic that backs your opinion that a lot of people aren't cutting things close to the bone.

You provided a statistic that contradicted you. Unless you think £187 per month disposable income is enough?

[daemon]

Driver101 said:

daemon said:

Yup.

Its a statistic though. And you asked for a statistic

Sure thats what people have been doing on here - plucking statistics out and interpreting them to suit themselves.

And yes, 14% have more than £500 a month available. Maybe they're the ones who lease cars

I asked for a statistic that backs your opinion that a lot of people aren't cutting things close to the bone.

You provided a statistic that contradicted you. Unless you think £187 per month disposable income is enough?

Your actual quote was "Your life shouldn't be financed that tightly that you account for every penny every month"

I rounded that up to the nearest tenner and gave you statistics to support that that was a minority.

Gee, given the nonsense being bandied about on this thread as "facts", and you're picking on that?

[Rick1.8t]

Justin Case said:

What we who take a more balanced view find offensive is not so much the view that borrowing is inherently wrong and unwise, which is a reasnable point of view to take, but the assumption that ordinary people on average incomes are incapable of managing their own affairs and need to be protected from their own (alleged) folly. This is not only complete nonsense but ignores the fact that this country is in the mire entirely due to the incompetence and corruptness of a so-called financial and political elite who have made sure that their own pockets are well-lined at the expense of everybody else.

Edited by Justin Case on Tuesday 25th October 22:56

You find it offensive because you are not one of these people yourself, there are a lot of people in this country and many different levels of education, though I do agree with the political elite issue but that is a separate subject entirely - SOME(yes, just some Daemon) people don't understand fully what they are getting into when they sign up for credit, for a car or otherwise/ They may not be stupid but they may not be fully educated on the matter either, more examples?

- They want to tax junk food / sugary drinks because lots of society is now over eating and health concerns are growing (not just a minority either, we all know the figures)

- Some people that voted for Brexit didn't fully understand why or what they were voting for (Many say we pretty much all lack the understanding to make an informed vote on this matter)

- Some people take loans from pay-day loans, Wonga or similar without understanding how interest on the loan works (some are desperate I agree) - there is a reason the govt has passed legislation limiting repayments on such loans now.

My opinion isn't that people are too stupid to be allowed to make their own decisions, be that leasing a car or voting etc its that sometimes the person doesn't have all of the facts or maybe they have been mislead.

If you have a decent handle on your finances and how lease, PCP etc all works and how much it will cost you, go nuts, its your money.

Edited by Rick1.8t on Tuesday 25th October 23:19

[Granfondo]

daemon said:

Granfondo said:

daemon said:

You're quite the photographer!

Maybe hold the camera 90 degrees to the right next time though

If you're stuck ask your carer to help

Well if I turned 90 degrees then you wouldn't see what I was trying badly to photograph so maybe it's you who needs a carer!

Turn THE CAMERA 90 degrees, not yourself.

And turning the camera 90 degrees is different is it?
What a Moby!

[Driver101]

daemon said:

Your actual quote was "Your life shouldn't be financed that tightly that you account for every penny every month"

I rounded that up to the nearest tenner and gave you statistics to support that that was a minority.

Gee, given the nonsense being bandied about on this thread as "facts", and you're picking on that?

Why are you getting upset that I'm challenging you? You've loads of posts in this thread challenging people..


Do you think £187 per month disposable income is enough to live your life, especially if you have expensive cars on finance agreements?

[Justin Case]

Driver101 said:

£187 per month disposable income per month isn't much at all. One unexpected bill could wipe them out for months.

This of course assumes that everyone disposes of all of their disposable income every month. The article also states that disposable income is calculated after travel costs have been allowed for, which means that the PCP has not only been taken out of the equation, but one source of unexpeted bills has been removed at a stroke. Win-win

[Driver101]

Justin Case said:

Driver101 said:

£187 per month disposable income per month isn't much at all. One unexpected bill could wipe them out for months.

This of course assumes that everyone disposes of all of their disposable income every month. The article also states that disposable income is calculated after travel costs have been allowed for, which means that the PCP has not only been taken out of the equation, but one source of unexpeted bills has been removed at a stroke. Win-win

I didn't assume that at all.

If you have £187 per month disposable you'll only manage to save that if you do absolutely nothing for the entire month. It's not actually possible is it?

Remember it focuses on essentials only.

[BigLion]

Justin Case said:

What we who take a more balanced view find offensive is not so much the view that borrowing is inherently wrong and unwise, which is a reasnable point of view to take, but the assumption that ordinary people on average incomes are incapable of managing their own affairs and need to be protected from their own (alleged) folly. This is not only complete nonsense but ignores the fact that this country is in the mire entirely due to the incompetence and corruptness of a so-called financial and political elite who have made sure that their own pockets are well-lined at the expense of everybody else.

Edited by Justin Case on Tuesday 25th October 22:56

PPI
Interest only mortgages
Overdraft Fees
Investment advice

Yes, people do need to be protected from their stupidity.

[Devil2575]

Driver101 said:

I didn't assume that at all.

If you have £187 per month disposable you'll only manage to save that if you do absolutely nothing for the entire month. It's not actually possible is it?

Remember it focuses on essentials only.

When I bought my first house I had £76 a month disposible income. Life was hard for a couple of years, so what? I didn't really have a choice, I had no finance and my only debt was my mortgage.

There are a lot of people living on very little at the moment, use of food banks is on the rise. That doesn't mean that these people all have cars on finance.

[Devil2575]

Granfondo said:

Devil2575 said:

Indeed. It's only the anti finance brigade that are talking in absolutes.

Who are these people?

Read the thread.

The OP for a start.

[anonymous-user]

BigLion said:

PPI
Interest only mortgages
Overdraft Fees
Investment advice

Yes, people do need to be protected from their stupidity.

One of those very easy things to say and incredibly hard things to do.

So how do you suggest that is accomplished ?

Equally how would you determine exactly what stupidity protection is needed from ?

[Justin Case]

BigLion said:

PPI
Interest only mortgages
Overdraft Fees
Investment advice

Yes, people do need to be protected from their stupidity.

All of those, like PCPs, can have benefits for certain people in certain circumstances. What they really need to be protected from is pushy misleading or downright dishonest salespeople who peddle these 'products' when they are unsuitable as much as their own ignorance (not necessarily stupidity as another poster has pointed out.)

[f1nn]

I'm going to take a guess at 51...

[Devil2575]

Justin Case said:

BigLion said:

PPI
Interest only mortgages
Overdraft Fees
Investment advice

Yes, people do need to be protected from their stupidity.

All of those, like PCPs, can have benefits for certain people in certain circumstances. What they really need to be protected from is pushy misleading or downright dishonest salespeople who peddle these 'products' when they are unsuitable as much as their own ignorance (not necessarily stupidity as another poster has pointed out.)

Quite.

[tuffer]

I would say that taking out a massive student loan with no income is a far more serious issue. They all seem to think they are going to get a high paid job once they achieve their degree, that or it will be written off at some point in the future when they cannot repay it.

[anonymous-user]

This thread encouraged me to go out yesterday and enquire about a lease.

I could self-finance it.

It's cheaper and more convenient for me to lease.

Test drive Saturday.

[Nickbrapp]

Is this thread really suggesting that people have less than £187 disposable income because they have a car on finance and not because of low wages?

I know plenty of people stuck in minimum wage jobs, with sky high rent ( thanks to the baby boomers) in a crap house because their parents aren't around, without cars on finance who are struggling to manage.

Guess what? I have a car on finance and more than £500 disposable income. I AM THE BEST PERSON IN THE WORLD

[anonymous-user]

swerni said:

I've had an interest only mortgage for years and I once leased a car.

I need protecting against myself

£666 a month for the handcart taking you to hell I assume ?

[Devil2575]

tuffer said:

I would say that taking out a massive student loan with no income is a far more serious issue. They all seem to think they are going to get a high paid job once they achieve their degree, that or it will be written off at some point in the future when they cannot repay it.

Yes but of they don't get a decent job it will be written off and if they do they will repay it.

BTW if you do the right degree then you stand a pretty good chance of getting a well paid job. A chem eng graduate at our place will start on around £38k. Not sky high but enough.