Anyone into cars but not credit?
Discussion
Out of interest, what do we consider as disposable income versus income for saving?
I know a lot of people that live for today, simply blowing huge wads of income on disposable items - beer, women, drugs, partying, cars, etc.
I know very few that are income saving - especially after the last financial crash, and the potential for another fairly soon.
Or do we not consider cars as part of disposable income?
For me - mid-30's, disposable income is 15-20% of original salary, and income saving is 50%. Pension is via salary sacrifice.
I know a lot of people that live for today, simply blowing huge wads of income on disposable items - beer, women, drugs, partying, cars, etc.
I know very few that are income saving - especially after the last financial crash, and the potential for another fairly soon.
Or do we not consider cars as part of disposable income?
For me - mid-30's, disposable income is 15-20% of original salary, and income saving is 50%. Pension is via salary sacrifice.
swerni said:
RSK21 said:
£666 a month for the handcart taking you to hell I assume ?
One of my neighbours has the C220 so I had to go one better.
That f
king showed him(£425 PCM based on 12 PA)
If I park it in the local supermarket car park at night, I'll have access to toilets until 10pm. Win!
swerni said:
funkyrobot said:
swerni said:
RSK21 said:
£666 a month for the handcart taking you to hell I assume ?
One of my neighbours has the C220 so I had to go one better.
That f
king showed him(£425 PCM based on 12 PA)
If I park it in the local supermarket car park at night, I'll have access to toilets until 10pm. Win!
If you park in a Tesco 24hr supermarket you have access to the toilets and ready made meals 24 x 7
Devil2575 said:
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.
tuffer said:
So, taking out a loan with no initial way of repaying it, even those who manage a good Degree and find a good job could be saddled with a loan higher than their annual gross starting salary and those who do not are fully expecting that the loan will be written off. I would say that was far more negligent and reckless than someone with a job taking out a PCP on an asset which is recoverable even if the interest rate is far higher.
I wouldn't say a student loan was reckless or negligent at all.No one will do it with the view that it will be written off, that is just there as a safety net. A mortgage is higher than a gross salary. Is taking out a mortgage reckless? The right degree can vastly increase your earnings over your working life.
BobSaunders said:
For me - mid-30's, disposable income is 15-20% of original salary, and income saving is 50%. Pension is via salary sacrifice.
Sounds about right to me - put 50% away (whether in the form of mortgage principal payments, ISA contributions etc), spend 30% on necessities and have fun with the remaining 20%.Devil2575 said:
I wouldn't say a student loan was reckless or negligent at all.
No one will do it with the view that it will be written off, that is just there as a safety net. A mortgage is higher than a gross salary. Is taking out a mortgage reckless? The right degree can vastly increase your earnings over your working life.
I wouldn't say taking out a PCP on a car which enables me to get to my place of work was negligent.No one will do it with the view that it will be written off, that is just there as a safety net. A mortgage is higher than a gross salary. Is taking out a mortgage reckless? The right degree can vastly increase your earnings over your working life.
Driver101 said:
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..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?
The word you're looking for is "bemused"
Granfondo said:
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! Maybe hold the camera 90 degrees to the right next time though
If you're stuck ask your carer to help
What a Moby!
My god, 47 pages of opinions and a general refusal to accept that other opinions are available.
Personally, until recently, I've only bought cars that I could comfortably afford to buy outright. However, lease prices and, to some extent, being attracted to newer theoretically safer cars now I have a couple of young children, makes leasing almost a no brainier.
I've just ordered a Skoda Yeti on a 2 year lease for £159 per month. Now that's bloody cheap motoring in my book and nothing at all to do with inability to afford to buy a car outright.
Personally, until recently, I've only bought cars that I could comfortably afford to buy outright. However, lease prices and, to some extent, being attracted to newer theoretically safer cars now I have a couple of young children, makes leasing almost a no brainier.
I've just ordered a Skoda Yeti on a 2 year lease for £159 per month. Now that's bloody cheap motoring in my book and nothing at all to do with inability to afford to buy a car outright.
swerni said:
BigLion said:
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.
PPIEdited by Justin Case on Tuesday 25th October 22:56
Interest only mortgages
Overdraft Fees
Investment advice
Yes, people do need to be protected from their stupidity.
I need protecting against myself
BigLion said:
To be honest you guys are boring me now - no one was able to dispute my m4 point, so enjoy the thread - sorry I have a low tolerance for both repetition and personal insults.
Eh ?I'm not sure what you mean about being able to dispute your M4 point. I was quite clear that as you outlined it didn't seem the smartest move in the world but as others have said plenty others believe that they can afford such deals - horses for courses surely ?
Most of what you have added has been angry and condemnatiory in tone and you haven't really looked to engage when reasonable questions have been asked.
Edited by anonymous-user on Wednesday 26th October 11:49
Amazing, you slope off from this thread at 7pm to enjoy life a bit and come back to another 12 pages the next morning. 
It was said that the proportion of cars on autotrader outweighed the proportion of people who could afford them, and it was said that £100k income was needed to fund a £60k car. (Which I think is bks myself, but anyway*).
So 5120 cars out of 450k on Autotrader are over £60k. That is 1.1% of cars are £60k plus.
It is said there are 1.3m people earning £100k and over. That is 2% of UK residents earning enough to buy those cars (by PH standards).
So I don't get why the 5000 cars over £60k seems excessive?
It was said that the proportion of cars on autotrader outweighed the proportion of people who could afford them, and it was said that £100k income was needed to fund a £60k car. (Which I think is b
ks myself, but anyway*). So 5120 cars out of 450k on Autotrader are over £60k. That is 1.1% of cars are £60k plus.
It is said there are 1.3m people earning £100k and over. That is 2% of UK residents earning enough to buy those cars (by PH standards).
So I don't get why the 5000 cars over £60k seems excessive?
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