EVs... no one wants them!
Discussion
Tigger2050 said:
Do you guys rent your TV's as well?
I never rented a TV as it's cheaper to own.I have rented several new cars as it was cheaper than to pay cash.
I am agnostic. All I care is that I get the cheapest way of getting a new car.
And don't worry too much about other people. Do your own thing.
Edited by nickfrog on Saturday 4th May 08:51
survivalist said:
Coxwain said:
Anyone buying a new or nearly new EV on finance needs their head looking at. With EV depreciation the way it's going, it's the ultimate definition of a liability and the total opposite of an asset. Spending several thousand each year to save a few hundreds in fuel. Bonkers logic!
On a lease/ pcp finance deal the point is that you know your exposure to depreciation at time of purchase. If it depreciates further no more exposure.Then it’s just a question of if the numbers fit your budget or not.
Some deals good, some bad.
The idea that renting is always more expensive is as absurd as the idea that it's always cheaper.
Keep an open mind. I assumed that it's always cheaper to get a £8 Sim and buy the phone.
But recently you could get a Pixel 7a for £15 on ID.
So £7x24. Minus £70 cashback. So £100.
But of course it was also heavily discounted down to £300 on Amazon.
Similar to the recent Honda EV deal at less than £200 amortised. You would have to be a mug to put your £40k or even £30k towards it instead of getting 4% on it plus pension tax relief if you can.
Keep an open mind. I assumed that it's always cheaper to get a £8 Sim and buy the phone.
But recently you could get a Pixel 7a for £15 on ID.
So £7x24. Minus £70 cashback. So £100.
But of course it was also heavily discounted down to £300 on Amazon.
Similar to the recent Honda EV deal at less than £200 amortised. You would have to be a mug to put your £40k or even £30k towards it instead of getting 4% on it plus pension tax relief if you can.
Edited by nickfrog on Saturday 4th May 08:55
KingGary said:
Zj2002 said:
Tigger2050 said:
otolith said:
If you are overly concerned about the future value of an asset, don’t own it, pay a fixed fee you are happy with for the use of it.
Do you guys rent your TV's as well?I mean the arguments the sellers use are the same as those used for renting cars.......................
"If you’re unsure about leasing or concerned TV rental doesn’t offer value for money - think again! Renting a television can provide a wide range of benefits over an outright purchase, including:
Less stress – renting from a reputable company, takes the worry out of financing a brand-new TV.
Affordability – you can enjoy the latest technology without the hefty price tag thanks to our flexi-pay options to help spread the cost.
Flexibility – TV rental offers you the flexibility to keep up to date with all the most recent advances, allowing you to upgrade to a newer model at any time.
"Hankering after the latest tech? Desperate to upgrade your TV but don’t want it to be out of date before you’ve even ripped open the box?
There’s no denying technology moves quickly but there is an easy way to keep up - TV rental.
TV rental is designed to help make televisions more affordable, putting modern technology within reach of everyone - regardless of budget.
Rather than paying a large lump sum and owning the TV forever, rental allows you to make much smaller, more manageable payments for as long as you wish to keep the screen.
Technology is constantly evolving and one of the biggest concerns people have when it comes to buying a new TV is how quickly it will date. Renting eliminates this concern.
Free to upgrade to a newer model at any time, you’re not tied to any one TV. With the freedom to change at any time, you can be confident of keeping pace with the latest trends.
There’s no point in pretending TVs are cheap. They’re not. But they can be affordable.
By renting you avoid any eye-watering outlay and can instead opt for more manageable monthly or annual payments – putting you in complete control of your finances."
Sound familiar?
A good proportion of people did indeed used to rent their TV's, until it became wide knowledge that this was a hugely expensive way of having access to a TV. Many people still do rent though. I suppose you would support them?
As for mugs game - good one.
I own my Defender outright paid cash two years ago and was offered over what I paid last week for it. My EVs are tools for work and are home charged (24k miles per year +). The EV is leased and is an acceptable cost to my self employed role as a sole trader. I previously leased vans but the EV is an all round cheaper option when overall costs are combined. I used to spend £750 pm on a diesel Transit Connect including all costs (fuel etc) I now spend £400 pm and spend my time in a much nicer environment. The rental costs as Mondeo Man at Rumbelows calls it are valid tax deductions from my annual returns as a self unemployed person. Each to their own.
KingGary said:
I’m sure that works for you, but for some of us realise renting is a mug’s game. Personally, I’d rather own the Mondeo and keep the cash. Nothing wrong with a Ford.
You're paying for the use of your car however you finance it. What your priorities are, the cars you like and what your budget is will differ from person to person.There is no right or wrong answer here, so why bother arguing about it.
SWoll said:
KingGary said:
I’m sure that works for you, but for some of us realise renting is a mug’s game. Personally, I’d rather own the Mondeo and keep the cash. Nothing wrong with a Ford.
You're paying for the use of your car however you finance it. What your priorities are, the cars you like and what your budget is will differ from person to person.There is no right or wrong answer here, so why bother arguing about it.
I’ve given my real life view of owning an EV - more cost effective than the 2.0diesel it replaced - and it happens to be a better, more powerful, enjoyable owner experience - yet for the likes of Mondeo man - folk like me are mugs.
Quite the take.
KingGary said:
Zj2002 said:
If hoarding cash floats your boat - crack on.
As for mugs game - good one.
Well giving most of salary each month to a finance company just means you’ll always be poor.As for mugs game - good one.
Sure I could have more money in my bank if I walked everywhere - but my kids wouldn’t like it.
I also like cars - hence why I am on PistonHeads. Imagine that.
SWoll said:
KingGary said:
I’m sure that works for you, but for some of us realise renting is a mug’s game. Personally, I’d rather own the Mondeo and keep the cash. Nothing wrong with a Ford.
You're paying for the use of your car however you finance it. What your priorities are, the cars you like and what your budget is will differ from person to person.There is no right or wrong answer here, so why bother arguing about it.
KingGary said:
Zj2002 said:
If hoarding cash floats your boat - crack on.
As for mugs game - good one.
Well giving most of salary each month to a finance company just means you’ll always be poor.As for mugs game - good one.
Battarat said:
Zj2002 said:
I’d rather rent a £70,000 554bhp BMW than drive a Mondeo. Probably not the only one.
The thing is, most people splashing out on the monthlies to rent a luxury car, couldn’t even cobble together the cash to buy a nearly new Mondeo outright. Does this sound familiar?Rich people buy assets. Poor and middle income people buy (or rent) liabilities. Such has always been the way. And a car is seldom an asset to the end user by the way.
The owner of your BMW (the lease or finance company), and the shareholders of those companies, will be making lots of guaranteed money from you each and every month whilst you remain tied in to make them rich for 2,3,4,5 years. And often all because poor and middle income folk, without owning any real assets, often feel that they need to rent these luxury liabilities to make them feel good about themselves. To keep up with the Jones’s etc.
Personally I’m happy to drive and own outright a 6 year old high performance car. I bought it for free (as in I didn’t have to do a day’s work for it) – using dividend income from my share portfolio. It costs me very little to run each month.
How much does your BMW cost you every month? And how many extra days do you have to work each year to pay for the monthlies? And what is the likely value of the investment income you have lost out on with the large up front payment?
Would that make it acceptable to you?
Via salary sacrifice, with insurance, maintenance and very low running costs. There is no cheaper way to run my chosen car. A car I chose because I like it.
Zj2002 said:
KingGary said:
Zj2002 said:
If hoarding cash floats your boat - crack on.
As for mugs game - good one.
Well giving most of salary each month to a finance company just means you’ll always be poor.As for mugs game - good one.
Sure I could have more money in my bank if I walked everywhere - but my kids wouldn’t like it.
I also like cars - hence why I am on PistonHeads. Imagine that.
Battarat said:
Personally I’m happy to drive .............................
And that's the crux of it.How you finance it is up to the individual, some clearly more up their own asses than others
And an asset does not have to be financial, a car is an asset to each of us in as much we use them to get places and get enjoyment from.
KingGary said:
Zj2002 said:
KingGary said:
Zj2002 said:
If hoarding cash floats your boat - crack on.
As for mugs game - good one.
Well giving most of salary each month to a finance company just means you’ll always be poor.As for mugs game - good one.
Sure I could have more money in my bank if I walked everywhere - but my kids wouldn’t like it.
I also like cars - hence why I am on PistonHeads. Imagine that.
I have no interest in owning a car.
Zj2002 said:
What if my lease costs are paid from investment dividends?
Would that make it acceptable to you?
Via salary sacrifice, with insurance, maintenance and very low running costs. There is no cheaper way to run my chosen car. A car I chose because I like it.
You’d still be richer if you owned the Mondeo you could actually afford.Would that make it acceptable to you?
Via salary sacrifice, with insurance, maintenance and very low running costs. There is no cheaper way to run my chosen car. A car I chose because I like it.
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