How non-PHers buy and sell cars
Discussion
TheLuke said:
Had a similar conversation with a mate of mine on Sunday.
He bought a 320d last year for the best part of 8k.
I have recently learned he has traded it in against a Seat Ibiza 5k I think he said he paid, they gave him 2k PX for the BMW. he said he wanted to downgrade as the BMW was costing him too much to run and insure.
I did the sums for him, for him to keep the BMW he would have a car worth approx 6k.
With him changing he has lost 4k value on the BMW plus having to pay an extra 3k ontop of the PX for the seat.
He is 7k down on keeping the BMW. When I tried to explain this as above it was met with a glazed expression, I was dumbfounded at how he could consider -7k "saving money" but its okay because it now costs him £200 less a year on insurance and tyres are £50 each less.
This is the kind of person the 0% finance deals breed.
I don't think you're a good mate - the horse had already bolted and then you carried on telling him what a stupid mistake he had done and rubbed his nose in it. He bought a 320d last year for the best part of 8k.
I have recently learned he has traded it in against a Seat Ibiza 5k I think he said he paid, they gave him 2k PX for the BMW. he said he wanted to downgrade as the BMW was costing him too much to run and insure.
I did the sums for him, for him to keep the BMW he would have a car worth approx 6k.
With him changing he has lost 4k value on the BMW plus having to pay an extra 3k ontop of the PX for the seat.
He is 7k down on keeping the BMW. When I tried to explain this as above it was met with a glazed expression, I was dumbfounded at how he could consider -7k "saving money" but its okay because it now costs him £200 less a year on insurance and tyres are £50 each less.
This is the kind of person the 0% finance deals breed.
Perik Omo said:
There's this couple we know that change their cars every 3 years or so, both cars are Honda Jazz's. I think the sales bloke at Honda has them on speed dial as mugs for when he needs some extra sales. The latest is that the couple got a call from the dealer offering them a "deal" on their oldest Jazz (2 years old) which they amazingly accepted. The deal was a good part-ex value (i.e. normal px value!) for the current Jazz and an amazing £1500 discount on the new one (it was pre-registered and one that was actually 7 months old and sitting in the dealers unsold). They were over the moon with the discount and it was a colour that they would have chosen when changing. We got blank looks when we commented on "the deal" and they can see nothing wrong.
My Jazz was just shy of 3 years old with 6400 miles on the clock and 3 stamps in the book when I bought it. The bloke went in for a service and came home with a new car.It's quite possible that he just likes having a new car having scrimped and saved all of his life. Besides which, it keeps the used car market ticking over nicely and allows people like me to buy an effectively new car for a huge discount that will do me for 15 years and in all likelihood, out live the guy that bought it new.
TheLuke said:
Had a similar conversation with a mate of mine on Sunday.
He bought a 320d last year for the best part of 8k.
I have recently learned he has traded it in against a Seat Ibiza 5k I think he said he paid, they gave him 2k PX for the BMW. he said he wanted to downgrade as the BMW was costing him too much to run and insure.
I did the sums for him, for him to keep the BMW he would have a car worth approx 6k.
With him changing he has lost 4k value on the BMW plus having to pay an extra 3k ontop of the PX for the seat.
He is 7k down on keeping the BMW. When I tried to explain this as above it was met with a glazed expression, I was dumbfounded at how he could consider -7k "saving money" but its okay because it now costs him £200 less a year on insurance and tyres are £50 each less.
This is the kind of person the 0% finance deals breed.
I worked with a bit of a plonker up until last year, he eventually went took redundancy because he was always sick, but that's another subject all together. He bought a 320d last year for the best part of 8k.
I have recently learned he has traded it in against a Seat Ibiza 5k I think he said he paid, they gave him 2k PX for the BMW. he said he wanted to downgrade as the BMW was costing him too much to run and insure.
I did the sums for him, for him to keep the BMW he would have a car worth approx 6k.
With him changing he has lost 4k value on the BMW plus having to pay an extra 3k ontop of the PX for the seat.
He is 7k down on keeping the BMW. When I tried to explain this as above it was met with a glazed expression, I was dumbfounded at how he could consider -7k "saving money" but its okay because it now costs him £200 less a year on insurance and tyres are £50 each less.
This is the kind of person the 0% finance deals breed.
When he finished work, he had a Y reg Seat Toledo, perfectly serviceable etc, but was £180 to tax. You can see what's coming.
So he swaps it for a 2005 diesel Colt thing, which I am sure is a perfectly good little car, because it was £50 or something to tax. Unfortunately, the Colts insurance cost more than he was saving on tax on the Seat.
Jimmy Recard said:
ChemicalChaos said:
People like this are why recessions happen
I don't think your economics ideas add up there. Spending a lot of money regularly contributes to the economy.The guy is an idiot but that just isn't true. Being mega frugal and keeping your cash in boxes in the loft would suit what you say, not spending it
Willy Nilly said:
I worked with a bit of a plonker up until last year, he eventually went took redundancy because he was always sick, but that's another subject all together.
When he finished work, he had a Y reg Seat Toledo, perfectly serviceable etc, but was £180 to tax. You can see what's coming.
So he swaps it for a 2005 diesel Colt thing, which I am sure is a perfectly good little car, because it was £50 or something to tax. Unfortunately, the Colts insurance cost more than he was saving on tax on the Seat.
A friend of mine was strapped for cash but needed a car for a long commute to work. I got him a mint but high miles 406 with a FSH and running like a clock for £500. I told him where to get cheap good partworn tyres, and put him in touch with a really good, cheap mechanic i used close to where we both worked (he lived 60 miles from where he worked). When he finished work, he had a Y reg Seat Toledo, perfectly serviceable etc, but was £180 to tax. You can see what's coming.
So he swaps it for a 2005 diesel Colt thing, which I am sure is a perfectly good little car, because it was £50 or something to tax. Unfortunately, the Colts insurance cost more than he was saving on tax on the Seat.
I left the company but caught up with him a year later and the Peugeot had been running faultlessly, but when he went to MOT it (9 months after i got it for him) - it needed 4 new tyres and an exhaust and his (local to home) mechanic told him to scrap it as it was "beyond economic repair".
He had then borrowed £2,000 to buy a Fiat Stilo JTD which had even by that point cost him a small fortune in repairs and days off work.
vikingaero said:
His wife thinks like him too and I think the lure of a shiny new car is too great.
I think you hit the nail on the head their OP, it's the lure of a new car as much as the fixing of the current car. Gives people some kind of reasoning behind simply thinking, "Actually I quite fancy a new car".If someone wants a new car then just buy one and enjoy. Admittedly some people make no sense when they rationalise a purchase!
berlintaxi said:
Why, because they purchase new cars and put money into the economy in terms of manufacturers/dealers profits and VAT? Yeah, the country would be much better off if we all drove 20 year old bangers and kept all our cash under the mattress at home.
Did you say "money"? I smell same kind of "money" like "money" customers put in terms of constructions/dealers/banksters profits and VAT, in USA homemaking industry, years 2000-2006, lets say.Cheapest car to own ?
The one you have (subject to a bit of common sense along the way - some potential bills versus condition can change this opinion).
To prove this with a different twist - a colleague bought a year old Evoque just before Xmas - £35k. Because he was fed up of her in doors being aspirational ! Within a week he was on to the dealer. Several return visits over three months and calls for his cash back. The big event was going out one day after she had been to a doctors appointment and the car was dead. That night he found the contact number for the first owner (who's replacement was as bad as the one she had expensively changed). Next morning he got his £35k back - luckily ! They both wished they still owned their 3 series - but this week collected an A3.
Feel slightly guilty - I told him at the start I hoped it had no issues. I must be a curse.
The one you have (subject to a bit of common sense along the way - some potential bills versus condition can change this opinion).
To prove this with a different twist - a colleague bought a year old Evoque just before Xmas - £35k. Because he was fed up of her in doors being aspirational ! Within a week he was on to the dealer. Several return visits over three months and calls for his cash back. The big event was going out one day after she had been to a doctors appointment and the car was dead. That night he found the contact number for the first owner (who's replacement was as bad as the one she had expensively changed). Next morning he got his £35k back - luckily ! They both wished they still owned their 3 series - but this week collected an A3.
Feel slightly guilty - I told him at the start I hoped it had no issues. I must be a curse.
My mate from work did me a big favour a few months ago. He's a non-PHer for the most part but is generally a bit of a quirky sort of guy. He had a mk4 Golf as his runabout but decided he fancied a (BMW) mini so went out and bought one, was very excited about the prospect of stripping out the Golf and taking it banger racing- at some point this plan became too much work for him so he just let the car sit on his drive, of course after a while the battery died and he couldn't move it.
Local scrappy couldn't pick up from his address, he didn't have the jump leads or the motivation to spruce it up and sell it on- end result is he walks into work and asks 'anyone wanna buy my car for £25?'
I thought he was joking but decided to get involved (had no need or want for the car as I already had two sat at home), resultant conversation:
Me: 'f
k off, what do you actually want for it?'
Him: 'oh you'll give me more for it will you? What's your offer?'
Me: *realising at this point that he's deadly serious* 'uhh... £50?!'
Him: 'done.'
And that's how I ended up with a Golf I didn't even want for £50. It's wanted for very little bar an alternator/belt tensioner and with a bit of TLC has been a very nice cruiser/battlebox
Local scrappy couldn't pick up from his address, he didn't have the jump leads or the motivation to spruce it up and sell it on- end result is he walks into work and asks 'anyone wanna buy my car for £25?'
I thought he was joking but decided to get involved (had no need or want for the car as I already had two sat at home), resultant conversation:
Me: 'f
k off, what do you actually want for it?'Him: 'oh you'll give me more for it will you? What's your offer?'
Me: *realising at this point that he's deadly serious* 'uhh... £50?!'
Him: 'done.'
And that's how I ended up with a Golf I didn't even want for £50. It's wanted for very little bar an alternator/belt tensioner and with a bit of TLC has been a very nice cruiser/battlebox
Boni said:
Did you say "money"? I smell same kind of "money" like "money" customers put in terms of constructions/dealers/banksters profits and VAT, in USA homemaking industry, years 2000-2006, lets say.
Not that that matters, but you can't possibly know vikingaero's colleague's financial situationbrickwall said:
Depreciation is an 'invisible' cost to many - the fill ups and repair bills feel much more 'real' and so get disproportionate attention.
A £2k repair bill seems spectacular, but people don't blink at the prospect of 5 times that being lost in depreciation.
The way a lot of people view it is that depreciation is a lot easier to budget for. £200 a month on a lease/PCP is easily affordable and means they get a new (or nearly new) car with low running costs and a 3 year warranty.A £2k repair bill seems spectacular, but people don't blink at the prospect of 5 times that being lost in depreciation.
They'd rather that than running something older with perceived reliability issues, plus it means they can spend all their money on holidays, phones, ipads, etc, rather than having to tuck some spare cash away in case something goes wrong.
BigLion said:
TheLuke said:
Had a similar conversation with a mate of mine on Sunday.
He bought a 320d last year for the best part of 8k.
I have recently learned he has traded it in against a Seat Ibiza 5k I think he said he paid, they gave him 2k PX for the BMW. he said he wanted to downgrade as the BMW was costing him too much to run and insure.
I did the sums for him, for him to keep the BMW he would have a car worth approx 6k.
With him changing he has lost 4k value on the BMW plus having to pay an extra 3k ontop of the PX for the seat.
He is 7k down on keeping the BMW. When I tried to explain this as above it was met with a glazed expression, I was dumbfounded at how he could consider -7k "saving money" but its okay because it now costs him £200 less a year on insurance and tyres are £50 each less.
This is the kind of person the 0% finance deals breed.
I don't think you're a good mate - the horse had already bolted and then you carried on telling him what a stupid mistake he had done and rubbed his nose in it. He bought a 320d last year for the best part of 8k.
I have recently learned he has traded it in against a Seat Ibiza 5k I think he said he paid, they gave him 2k PX for the BMW. he said he wanted to downgrade as the BMW was costing him too much to run and insure.
I did the sums for him, for him to keep the BMW he would have a car worth approx 6k.
With him changing he has lost 4k value on the BMW plus having to pay an extra 3k ontop of the PX for the seat.
He is 7k down on keeping the BMW. When I tried to explain this as above it was met with a glazed expression, I was dumbfounded at how he could consider -7k "saving money" but its okay because it now costs him £200 less a year on insurance and tyres are £50 each less.
This is the kind of person the 0% finance deals breed.
He deserves to have his nose rubbed in it. Utter stupidity.
TheLuke said:
BigLion said:
TheLuke said:
Had a similar conversation with a mate of mine on Sunday.
He bought a 320d last year for the best part of 8k.
I have recently learned he has traded it in against a Seat Ibiza 5k I think he said he paid, they gave him 2k PX for the BMW. he said he wanted to downgrade as the BMW was costing him too much to run and insure.
I did the sums for him, for him to keep the BMW he would have a car worth approx 6k.
With him changing he has lost 4k value on the BMW plus having to pay an extra 3k ontop of the PX for the seat.
He is 7k down on keeping the BMW. When I tried to explain this as above it was met with a glazed expression, I was dumbfounded at how he could consider -7k "saving money" but its okay because it now costs him £200 less a year on insurance and tyres are £50 each less.
This is the kind of person the 0% finance deals breed.
I don't think you're a good mate - the horse had already bolted and then you carried on telling him what a stupid mistake he had done and rubbed his nose in it. He bought a 320d last year for the best part of 8k.
I have recently learned he has traded it in against a Seat Ibiza 5k I think he said he paid, they gave him 2k PX for the BMW. he said he wanted to downgrade as the BMW was costing him too much to run and insure.
I did the sums for him, for him to keep the BMW he would have a car worth approx 6k.
With him changing he has lost 4k value on the BMW plus having to pay an extra 3k ontop of the PX for the seat.
He is 7k down on keeping the BMW. When I tried to explain this as above it was met with a glazed expression, I was dumbfounded at how he could consider -7k "saving money" but its okay because it now costs him £200 less a year on insurance and tyres are £50 each less.
This is the kind of person the 0% finance deals breed.
He deserves to have his nose rubbed in it. Utter stupidity.
berlintaxi said:
TheLuke said:
BigLion said:
TheLuke said:
Had a similar conversation with a mate of mine on Sunday.
He bought a 320d last year for the best part of 8k.
I have recently learned he has traded it in against a Seat Ibiza 5k I think he said he paid, they gave him 2k PX for the BMW. he said he wanted to downgrade as the BMW was costing him too much to run and insure.
I did the sums for him, for him to keep the BMW he would have a car worth approx 6k.
With him changing he has lost 4k value on the BMW plus having to pay an extra 3k ontop of the PX for the seat.
He is 7k down on keeping the BMW. When I tried to explain this as above it was met with a glazed expression, I was dumbfounded at how he could consider -7k "saving money" but its okay because it now costs him £200 less a year on insurance and tyres are £50 each less.
This is the kind of person the 0% finance deals breed.
I don't think you're a good mate - the horse had already bolted and then you carried on telling him what a stupid mistake he had done and rubbed his nose in it. He bought a 320d last year for the best part of 8k.
I have recently learned he has traded it in against a Seat Ibiza 5k I think he said he paid, they gave him 2k PX for the BMW. he said he wanted to downgrade as the BMW was costing him too much to run and insure.
I did the sums for him, for him to keep the BMW he would have a car worth approx 6k.
With him changing he has lost 4k value on the BMW plus having to pay an extra 3k ontop of the PX for the seat.
He is 7k down on keeping the BMW. When I tried to explain this as above it was met with a glazed expression, I was dumbfounded at how he could consider -7k "saving money" but its okay because it now costs him £200 less a year on insurance and tyres are £50 each less.
This is the kind of person the 0% finance deals breed.
He deserves to have his nose rubbed in it. Utter stupidity.
Or back on planet earth, I am currently helping him with looking at houses to buy and we are going through mortgage applications soon and the cold hard fact is that he now has 5k cash less to put down. He may now have to consider a flat as a result.
Jimmy Recard said:
ChemicalChaos said:
People like this are why recessions happen
I don't think your economics ideas add up there. Spending a lot of money regularly contributes to the economy.The guy is an idiot but that just isn't true. Being mega frugal and keeping your cash in boxes in the loft would suit what you say, not spending it
DonkeyApple said:
That's the point though. It's excess spending that over inflated the economy and then a lack of savings that fails to support the downturn. That's a recession.
It was in that case, yes. For all we know (unless I missed it), this bloke is comfortable in his income and outgoings and isn't about to fail to pay a loan for a new carGassing Station | General Gassing | Top of Page | What's New | My Stuff