How much do you pay per month for your car?
Discussion
Own it outright but in 4 years and 58k miles my 130i has cost less than £200/month. This includes BMW warranty payments (including breakdown cover), MOT's, servicing, tyres and a pessimistic depreciation figure. It's got all the toys, has been extremely reliable and is great fun.
Can't imagine leasing or PCPing anything remotely interesting to drive would cost so little. Just don't get why people pay so much to drive around in something so dull just because it's new.
I'm sure similarly low monthly costs could be achieved on any number of interesting used cars as well.
Can't imagine leasing or PCPing anything remotely interesting to drive would cost so little. Just don't get why people pay so much to drive around in something so dull just because it's new.
I'm sure similarly low monthly costs could be achieved on any number of interesting used cars as well.
swanny71 said:
Own it outright but in 4 years and 58k miles my 130i has cost less than £200/month. This includes BMW warranty payments (including breakdown cover), MOT's, servicing, tyres and a pessimistic depreciation figure. It's got all the toys, has been extremely reliable and is great fun.
Does that include the Purchase price?swanny71 said:
Own it outright but in 4 years and 58k miles my 130i has cost less than £200/month. This includes BMW warranty payments (including breakdown cover), MOT's, servicing, tyres and a pessimistic depreciation figure. It's got all the toys, has been extremely reliable and is great fun.
Can't imagine leasing or PCPing anything remotely interesting to drive would cost so little. Just don't get why people pay so much to drive around in something so dull just because it's new.
I'm sure similarly low monthly costs could be achieved on any number of interesting used cars as well.
Plus that amount again for fuel? Can't imagine leasing or PCPing anything remotely interesting to drive would cost so little. Just don't get why people pay so much to drive around in something so dull just because it's new.
I'm sure similarly low monthly costs could be achieved on any number of interesting used cars as well.
Leasing makes sense for expensive nice cars that you want to try but probably not keep for that long, just roll it over and keep leasing never having shelled out the big new price, often the leases beat depreciation trying to get cars on the road and seen with new models.
Leasing boring crap for similar amounts that you will trash doing the tip run etc, makes absolutely no sense to me, just buy an old shed for about the same as the 1st upfront payment.
Myself I'm one of the 'tight' ones having never bought a new car, too many great 2nd hand cars to ignore as far as I'm concerned.
If however i had a job that involved lots of mileage and I had a car allowance then I'd lease no question and keep swapping the car to stop getting bored.
Leasing boring crap for similar amounts that you will trash doing the tip run etc, makes absolutely no sense to me, just buy an old shed for about the same as the 1st upfront payment.
Myself I'm one of the 'tight' ones having never bought a new car, too many great 2nd hand cars to ignore as far as I'm concerned.
If however i had a job that involved lots of mileage and I had a car allowance then I'd lease no question and keep swapping the car to stop getting bored.
Its frightening the amount people spend financing cars.
The majority wont have a clue how much they are spending and simply decide they can afford the monthly payment. They will then justify that its a good deal compared to buying the car outright (which they would never be able to afford, so its a pointless comparison) therefore pre-spending any cash they are able to amass. Then complain they are skint, cost of living etc.
It makes sense for everyone on PH of course as they have the money working harder somewhere else ;-) allegedly.
The majority wont have a clue how much they are spending and simply decide they can afford the monthly payment. They will then justify that its a good deal compared to buying the car outright (which they would never be able to afford, so its a pointless comparison) therefore pre-spending any cash they are able to amass. Then complain they are skint, cost of living etc.
It makes sense for everyone on PH of course as they have the money working harder somewhere else ;-) allegedly.
simoid said:
swanny71 said:
Own it outright but in 4 years and 58k miles my 130i has cost less than £200/month. This includes BMW warranty payments (including breakdown cover), MOT's, servicing, tyres and a pessimistic depreciation figure. It's got all the toys, has been extremely reliable and is great fun.
Can't imagine leasing or PCPing anything remotely interesting to drive would cost so little. Just don't get why people pay so much to drive around in something so dull just because it's new.
I'm sure similarly low monthly costs could be achieved on any number of interesting used cars as well.
Plus that amount again for fuel? Can't imagine leasing or PCPing anything remotely interesting to drive would cost so little. Just don't get why people pay so much to drive around in something so dull just because it's new.
I'm sure similarly low monthly costs could be achieved on any number of interesting used cars as well.
First big service is 20K, so if its got less miles when he hands it back, he does not pay that either.
Im guessing that, with his second years car tax incuded (and im not sure if he even pays for that and the first years is deffo free), you are probably £60pm (a tank of Petrol) better off than he is every month in comparison.
NerveAgent said:
Its frightening the amount people spend financing cars.
The majority wont have a clue how much they are spending and simply decide they can afford the monthly payment. They will then justify that its a good deal compared to buying the car outright (which they would never be able to afford, so its a pointless comparison) therefore pre-spending any cash they are able to amass. Then complain they are skint, cost of living etc.
It makes sense for everyone on PH of course as they have the money working harder somewhere else ;-) allegedly.
I do hear quite often how people are getting rid of their 12 plate eurobox, and replacing it with a 64 plate eurobox "to save money as it's £20 cheaper per month".The majority wont have a clue how much they are spending and simply decide they can afford the monthly payment. They will then justify that its a good deal compared to buying the car outright (which they would never be able to afford, so its a pointless comparison) therefore pre-spending any cash they are able to amass. Then complain they are skint, cost of living etc.
It makes sense for everyone on PH of course as they have the money working harder somewhere else ;-) allegedly.
I really need to learn how to make money out of these people - they're a licence to print it when their only consideration is monthly outgoings.
NerveAgent said:
Its frightening the amount people spend financing cars.
The majority wont have a clue how much they are spending and simply decide they can afford the monthly payment. They will then justify that its a good deal compared to buying the car outright (which they would never be able to afford, so its a pointless comparison) therefore pre-spending any cash they are able to amass. Then complain they are skint, cost of living etc.
It makes sense for everyone on PH of course as they have the money working harder somewhere else ;-) allegedly.
With respect, you see just as many 'weekend millionaires' buying expensive used cars and must-have electrical goods like 60'in plasmas on monthly loans.The majority wont have a clue how much they are spending and simply decide they can afford the monthly payment. They will then justify that its a good deal compared to buying the car outright (which they would never be able to afford, so its a pointless comparison) therefore pre-spending any cash they are able to amass. Then complain they are skint, cost of living etc.
It makes sense for everyone on PH of course as they have the money working harder somewhere else ;-) allegedly.
Agreed that its all about covering the monthly payment though for them and not how much that they actually have in disposible income.
GetCarter said:
You say that, but you don't take into consideration how much they/we earn. Which is why I answered the question as I did.
I know and I'm not totally against finance, I had a small personal loan on one of my cars.PH is not the average demographic of the UK, the reality is most of the general public see financing a new car as the norm and have no idea its costing the a f
king fortune.R8VXF said:
GetCarter said:
NerveAgent said:
Its frightening the amount people spend financing cars.
You say that, but you don't take into consideration how much they/we earn. Which is why I answered the question as I did.One thing I will say, there seems to be a LOT of frustrated people about at the moment, PCP and cheap lease deals have made certain cars 'affordable' to a very many more people, some people just dont like that.
Edited by Rick1.8t on Thursday 5th March 14:21
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