If you buy a car on finance you can not afford it?
Discussion
Red 4 said:
It's just those people who drone on about PCP being a purchase plan when the vast majority of people who PCP will never actually buy/ own the car.
It's in the name. PCP = Personal Contract Purchase.When people sign up, they are signing up to purchase the car, in much the same way as with HP. The fact that there is a deferred balloon payment and an option to walk away at a defined point in the term, are what makes PCP different from HP.
Nonetheless, the fact remains that both PCP & HP are purchase products.
Because of the flexibility of PCP, some people may choose to also use it without completing the purchase at the end of the term, but that still doesn't turn a PCP into a lease or a rental agreement.
J4CKO said:
It doesn't matter though, if someone is "projecting wealth", just think "Thats a nice car" and move on, I think some folk let it eat them up inside.
Say we banned all finance, and you had to have the cash spare in the bank and are means checked to make sure that you are not living beyond them, would that suffice ?
Are we meant to use a shiny vehicle as a guide to their worth as a human ? It really doesn't mean anything in that context.
Go to Monaco and and any other place the super rich congregate, and there are some very expensive cars and mostly they will be bought and paid for outright, a lot of the time its from the interest on the interest on the interest and is basically loose change.
However, is all that money earnt though good honest toil ? I am thinking probably not....
amongst that lot there will be some horrible s
tbags who do unspeakable things for money (or have others do it more likely) swanning round in Rolls Royce Silver Dawns and Bugatti Chirons. Arms Dealers, Drug Lords, Despotic Rulers, Sketchy Oligarchs and the like.
And there we are sniping at Gareth from accounts who we know is only on a scale 6, has three kids and his wife works part time, how can he possibly afford that VW T-Roc PCP, its just not right !
We have sections of society at home that buys stuff outright, whole swathes who ponce round in RS Audis, Big Pick ups and even supercars, mainly as what they are up to is possibly illegal and is entirely conducted with cash. But they are alright those folk, they dont have finance like those poor working saps who fancy a shiny thing but are saddled with paying PAYE to provide all the services everyone uses regardless of if they contribute a penny to it.
You're preaching to the choir really. I'm not sure if that was directed at me or generally.Say we banned all finance, and you had to have the cash spare in the bank and are means checked to make sure that you are not living beyond them, would that suffice ?
Are we meant to use a shiny vehicle as a guide to their worth as a human ? It really doesn't mean anything in that context.
Go to Monaco and and any other place the super rich congregate, and there are some very expensive cars and mostly they will be bought and paid for outright, a lot of the time its from the interest on the interest on the interest and is basically loose change.
However, is all that money earnt though good honest toil ? I am thinking probably not....
amongst that lot there will be some horrible s
tbags who do unspeakable things for money (or have others do it more likely) swanning round in Rolls Royce Silver Dawns and Bugatti Chirons. Arms Dealers, Drug Lords, Despotic Rulers, Sketchy Oligarchs and the like.And there we are sniping at Gareth from accounts who we know is only on a scale 6, has three kids and his wife works part time, how can he possibly afford that VW T-Roc PCP, its just not right !
We have sections of society at home that buys stuff outright, whole swathes who ponce round in RS Audis, Big Pick ups and even supercars, mainly as what they are up to is possibly illegal and is entirely conducted with cash. But they are alright those folk, they dont have finance like those poor working saps who fancy a shiny thing but are saddled with paying PAYE to provide all the services everyone uses regardless of if they contribute a penny to it.
What I meant by "projecting wealth" wasn't so much driving around in a fancy car, but moreso people who define themselves by that and actively look down and/or make comments about other people driving "lesser" cars.
I was referring to (and agreeing with) Red 4's example about people looking down on others driving cheaper cars that they may even happen to own outright.
I personally find it easier not to care at all about what cars people drive around in one way or the other, including my own. If it's a nice car I'll think "nice car" but won't dwell on how they might have been able to afford it, or whatever. A lot of the upset over finance seems to come from a place of people thinking that people who use it have access to cars they don't feel they should be able to have access to.
Mandat said:
Red 4 said:
If PCPing isn't really "renting" then why do all the adverts on TV and radio refer to an "initial rental of £whatever" and all state "you will not own the car" ?
Clue - it's so it's made clear what you are getting into. Essentially, a rental agreement.
You can dress that up and call it whatever you like but the facts remain.
I can guarantee you that you have not seen any adverts for PCP deals that mention "initial rental" and "you will not own the car". Clue - it's so it's made clear what you are getting into. Essentially, a rental agreement.
You can dress that up and call it whatever you like but the facts remain.
You might have seen adverts for lease deals but leasing is definitely not the same as PCP.
Your misunderstanding of such simple concepts is very telling, and goes a long way to explain your incorrect views on leasing, PCP, etc.
I should have known. The USP was a free pot noodle with every one " sold".
theboss said:
Stick Legs said:
That Richard Branson is a show off and can't have any money as his so called 'airline' doesn't own all of it's actual 'planes'.
You can’t really afford to travel by air if you have to buy a ticket to sit on somebody else’s plane. Same with the train I’m travelling on right now, leased by the operating company, travelling on track they have to pay to access, from which my contract phone communicates with cell towers situated on land Vodafone probably rents to talk to servers PH probably doesn’t own. All of these business models are completely unsustainable obviously.Durzel said:
J4CKO said:
It doesn't matter though, if someone is "projecting wealth", just think "Thats a nice car" and move on, I think some folk let it eat them up inside.
Say we banned all finance, and you had to have the cash spare in the bank and are means checked to make sure that you are not living beyond them, would that suffice ?
Are we meant to use a shiny vehicle as a guide to their worth as a human ? It really doesn't mean anything in that context.
Go to Monaco and and any other place the super rich congregate, and there are some very expensive cars and mostly they will be bought and paid for outright, a lot of the time its from the interest on the interest on the interest and is basically loose change.
However, is all that money earnt though good honest toil ? I am thinking probably not....
amongst that lot there will be some horrible stbags who do unspeakable things for money (or have others do it more likely) swanning round in Rolls Royce Silver Dawns and Bugatti Chirons. Arms Dealers, Drug Lords, Despotic Rulers, Sketchy Oligarchs and the like.
And there we are sniping at Gareth from accounts who we know is only on a scale 6, has three kids and his wife works part time, how can he possibly afford that VW T-Roc PCP, its just not right !
We have sections of society at home that buys stuff outright, whole swathes who ponce round in RS Audis, Big Pick ups and even supercars, mainly as what they are up to is possibly illegal and is entirely conducted with cash. But they are alright those folk, they dont have finance like those poor working saps who fancy a shiny thing but are saddled with paying PAYE to provide all the services everyone uses regardless of if they contribute a penny to it.
You're preaching to the choir really. I'm not sure if that was directed at me or generally.Say we banned all finance, and you had to have the cash spare in the bank and are means checked to make sure that you are not living beyond them, would that suffice ?
Are we meant to use a shiny vehicle as a guide to their worth as a human ? It really doesn't mean anything in that context.
Go to Monaco and and any other place the super rich congregate, and there are some very expensive cars and mostly they will be bought and paid for outright, a lot of the time its from the interest on the interest on the interest and is basically loose change.
However, is all that money earnt though good honest toil ? I am thinking probably not....
amongst that lot there will be some horrible s
tbags who do unspeakable things for money (or have others do it more likely) swanning round in Rolls Royce Silver Dawns and Bugatti Chirons. Arms Dealers, Drug Lords, Despotic Rulers, Sketchy Oligarchs and the like.And there we are sniping at Gareth from accounts who we know is only on a scale 6, has three kids and his wife works part time, how can he possibly afford that VW T-Roc PCP, its just not right !
We have sections of society at home that buys stuff outright, whole swathes who ponce round in RS Audis, Big Pick ups and even supercars, mainly as what they are up to is possibly illegal and is entirely conducted with cash. But they are alright those folk, they dont have finance like those poor working saps who fancy a shiny thing but are saddled with paying PAYE to provide all the services everyone uses regardless of if they contribute a penny to it.
What I meant by "projecting wealth" wasn't so much driving around in a fancy car, but moreso people who define themselves by that and actively look down and/or make comments about other people driving "lesser" cars.
I was referring to (and agreeing with) Red 4's example about people looking down on others driving cheaper cars that they may even happen to own outright.
I personally find it easier not to care at all about what cars people drive around in one way or the other, including my own. If it's a nice car I'll think "nice car" but won't dwell on how they might have been able to afford it, or whatever. A lot of the upset over finance seems to come from a place of people thinking that people who use it have access to cars they don't feel they should be able to have access to.
People look down at others all the time, you generally never know, you may think they are admiring your motor or whatever but they are thinking what a tit, the problems come when people express their opinion.
There is a bloke locally that charges round in a bright Blue Boxster, am sure he thinks he looks the dogs b
ks but he looks a bit of a wally, not doing anyone any harm, as long as he is happy.Most people dont even notice, much less care, wrapped up in their own stuff.
Not sure why people see this as a discussion point. Pretty much every new car on the road is on their driveway via some sort of finance, HP,PCP. straight lease etc. The world has changed, cars are not a mark of wealth or whatever else, just how much money someone choses to put towards cars vs other areas of their life. Obviously one could assume that with a highly exotic car, that's going to attract multiple £k per month payments that he likely has a few more quid than the next person, but literally anything beyond that doesn't tend to mean all that much.
okgo said:
Not sure why people see this as a discussion point. Pretty much every new car on the road is on their driveway via some sort of finance, HP,PCP. straight lease etc. The world has changed, cars are not a mark of wealth or whatever else, just how much money someone choses to put towards cars vs other areas of their life. Obviously one could assume that with a highly exotic car, that's going to attract multiple £k per month payments that he likely has a few more quid than the next person, but literally anything beyond that doesn't tend to mean all that much.
I agree although my argument is it isn’t your car until the final payment is made . Same goes for a mortgage on a house it’s the banks until the final payment is made . That’s a great day !!
Pommy said:
When you read pointed comments such as 'you dont't own it' and 'you can't afford it' afforded to a vehicle purchase but not a house purchase there must be some underlying affront to that persons beliefs.
I dunno, people get jealous over property as well. There is nothing new in folks Keeping Up Appearances just new ways to finance that need.Edited by fido on Monday 10th February 12:25
Red 4 said:
It's just those people who drone on about PCP being a purchase plan when the vast majority of people who PCP will never actually buy/ own the car.
It seems to really grate on some people.
In fairness, it seems to really grate on you for some reason that you need to be keeping on about it being rental.It seems to really grate on some people.
Arguably its "rental" but it is an HP - Hire Purchase - agreement.
People who talk about people "renting" a car on PCP tend to be doing so to make a derogatory point.
Any car i've ever had on PCP or HP for that matter, i've considered my own and treated it accordingly. I certainly didnt treat it like a rental car. Sometimes i've went on to pay off the PCP or HP and keep the car, sometimes i've traded back in before or at the end of the term. Once i think, we handed a car back at the end of the term (because the car was worth wayyyy less than the residual)
You seem to be viewing the "rental" aspect as a negative. I see it as a positive. If someone on PCP / HP wants to keep the car they can pay it off, if they want to hand it back they can.
Durzel said:
I personally find it easier not to care at all about what cars people drive around in one way or the other, including my own. If it's a nice car I'll think "nice car" but won't dwell on how they might have been able to afford it, or whatever.
Same here.My father-in-law who is in his 70s and a Daily Mail reader, will regularly point out while out and about that a non-white person under the age of 40 driving any reasonably nice car must be a drug dealer.
It's not a massive step away from that to jumping to false conclusions over the financial circumstances of complete strangers.
Like you, my interest starts and stops with the car, not how it's financed.
Red 4 said:
If PCPing isn't really "renting" then why do all the adverts on TV and radio refer to an "initial rental of £whatever" and all state "you will not own the car" ?
So you’re back to saying it’s a rental now then. 
It’s a rental!
I never said it’s a rental!
It’s like a rental!
It’s not a rental!
It’s a rental!
Red 4 you are completely confused.
The car adverts you have seen with the term “Initial Rental” are adverts for PCH, not PCP.
You are having a mare.
ETA: just seen that you’ve admitted your error about the car advert. We are making progress.
Edited by roadsmash on Monday 10th February 12:34
okgo said:
Not sure why people see this as a discussion point. Pretty much every new car on the road is on their driveway via some sort of finance, HP,PCP. straight lease etc. The world has changed, cars are not a mark of wealth or whatever else, just how much money someone choses to put towards cars vs other areas of their life. Obviously one could assume that with a highly exotic car, that's going to attract multiple £k per month payments that he likely has a few more quid than the next person, but literally anything beyond that doesn't tend to mean all that much.
I would say quite a few of those who like to get sniffy about PCP and HP and stir the pot are funding their own cars via some sort of loan anyway - either via an offset mortgage or taking a loan from their business / account, whatever.I'd say extremely few actually have a savings pot large enough to warrant dropping the price of a new car out of it.
Not that they'll ever admit that of course....
Deep Thought said:
I would say quite a few of those who like to get sniffy about PCP and HP and stir the pot are funding their own cars via some sort of loan anyway - either via an offset mortgage or taking a loan from their business / account, whatever.
I'd say extremely few actually have a savings pot large enough to warrant dropping the price of a new car out of it.
Not that they'll ever admit that of course....
Going by that theory the people on here with PCP/lease that say they have the purchase price but choose to invest it in their pension or others investments are telling porky pies?I'd say extremely few actually have a savings pot large enough to warrant dropping the price of a new car out of it.
Not that they'll ever admit that of course....
roadsmash said:
Red 4 said:
If PCPing isn't really "renting" then why do all the adverts on TV and radio refer to an "initial rental of £whatever" and all state "you will not own the car" ?
So you’re back to saying it’s a rental now then. It’s a rental!
I never said it’s a rental!
It’s like a rental!
It’s not a rental!
It’s a rental!
Red 4 you are completely confused.
The car adverts you have seen with the term “Initial Rental” are adverts for PCH, not PCP.
You are having a mare.
ETA: just seen that you’ve admitted your error about the car advert. We are making progress.
Edited by roadsmash on Monday 10th February 12:34
john41901 said:
Ha ha more smoke & mirrors terminology from the terminally indebted. If you don't OWN it you are a renter, a peasant if you will living pay cheque to pay cheque. Only thing worse than renting is buying your own furniture rather than inheriting it. Peasants.
Haha to be fair you’ve always been comedy gold John. Smoke and mirrors
these agreements really are quite simple, if you took a mere half an hour out of your day to learn about them you would get up to speed quite quickly.I know obviously using finance is beneath you, particularly due to that bottomless pit of money you’re always on about, but regardless, knowledge is power.
Limpet said:
Durzel said:
I personally find it easier not to care at all about what cars people drive around in one way or the other, including my own. If it's a nice car I'll think "nice car" but won't dwell on how they might have been able to afford it, or whatever.
Same here.My father-in-law who is in his 70s and a Daily Mail reader, will regularly point out while out and about that a non-white person under the age of 40 driving any reasonably nice car must be a drug dealer.
It's not a massive step away from that to jumping to false conclusions over the financial circumstances of complete strangers.
Like you, my interest starts and stops with the car, not how it's financed.
Apparently when the log book is issued, you automatically get yr car listed with the local plod as a car of interest.
Red 4 said:
If PCPing isn't really "renting" then why do all the adverts on TV and radio refer to an "initial rental of £whatever" and all state "you will not own the car" ?
Clue - it's so it's made clear what you are getting into. Essentially, a rental agreement.
You can dress that up and call it whatever you like but the facts remain.
Have you got an example of that? because it sounds like you are getting confused between a PCP and PCH.Clue - it's so it's made clear what you are getting into. Essentially, a rental agreement.
You can dress that up and call it whatever you like but the facts remain.
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