Anyone into cars but not credit?
Discussion
gizlaroc said:
Granfondo said:
gizlaroc said:
Granfondo said:
gizlaroc said:
People like Granfondo are just snobs. They can't help themselves.
please explain?sn?b/Submit
noun
a person who believes that their tastes in a particular area are superior to those of other people.
RSK21 said:
BigLion said:
Should we judge the people? Not really as it's up to them, just don't whine to myself that houses are expensive when you're spending £800 pcm on a M4 or C63 !!!
Genuine question has that ever happened to you ?Then they complain that because of buy-to-let landlords they can't afford to put a deposit on a property!!!
I earn similar to them but I don't have that issue, why...because I chose to prioritise my finances in a different way.
Fox- said:
The problem with this is you've just made up all the numbers.
You can buy F30's for far less than £17k if you are looking for the cheapest - you can factory order a brand new 318i for not much over £20k. Then you reckon in 3 years time its worth only £9k even though despite the fact it's been out over 4 years you reckoned the cheapest one was 17k?
No. You can buy F30's for far less than £17k if you are looking for the cheapest - you can factory order a brand new 318i for not much over £20k. Then you reckon in 3 years time its worth only £9k even though despite the fact it's been out over 4 years you reckoned the cheapest one was 17k?
I said the cheapest f30 318i Sport was £17k.
I said that if you bought one for £17k at 3 year old in another 3 years you would get around £9k back on it come trade in time.
I am not saying a new one would be worth £9k after 3 years. A new one would trade for around £14-15k.
Best price on a new one is around £22900.
So you would lose around £9-10k over 3 years or £250.
Hence £269 a month for a lease with the ability to throw the keys back is tempting for many.
Devil2575 said:
Fords, Vauxhalls, Kias, Hyundis, Toyotas etc
Has anyone showed yet any evidence that these people with no savings are driving premium German motors?
The VW Golf, Audi A3, Mini and Mercedes C class are all in the top 10 of best sellers last month.Has anyone showed yet any evidence that these people with no savings are driving premium German motors?
Edited by Driver101 on Sunday 23 October 23:54
BigLion said:
Yes - peop?e spending £10k on a watch, £750 on a pair of trainers because Kayne west designed them or something, judging every cost by the "monthlies" and not interest, constantly rolling over PCP deals, living in stupidly high rental accommodation in plush parts of London etc. etc.
Then they complain that because of buy-to-let landlords they can't afford to put a deposit on a property!!!
I earn similar to them but I don't have that issue, why...because I chose to prioritise my finances in a different way.
Then they complain that because of buy-to-let landlords they can't afford to put a deposit on a property!!!
I earn similar to them but I don't have that issue, why...because I chose to prioritise my finances in a different way.
So someone you know has complained he or she can't afford a house deposit but is paying £800 a month for a c63 or M4 ?
RSK21 said:
BigLion said:
Yes - peop?e spending £10k on a watch, £750 on a pair of trainers because Kayne west designed them or something, judging every cost by the "monthlies" and not interest, constantly rolling over PCP deals, living in stupidly high rental accommodation in plush parts of London etc. etc.
Then they complain that because of buy-to-let landlords they can't afford to put a deposit on a property!!!
I earn similar to them but I don't have that issue, why...because I chose to prioritise my finances in a different way.
Then they complain that because of buy-to-let landlords they can't afford to put a deposit on a property!!!
I earn similar to them but I don't have that issue, why...because I chose to prioritise my finances in a different way.
So someone you know has complained he or she can't afford a house deposit but is paying £800 a month for a c63 or M4 ?
BigLion said:
Let's be honest, as a generalisation most people only lease car as they don't have the cash to buy a car outright - yes there are exceptions but generally what I states is the case.
We live in a world where people want instant gratification - and buying a car on finance that would take forever to save up for is a price worth paying for some. There has been a mentality shift from previous times of living within your means/savings.
Should we judge the people? Not really as it's up to them, just don't whine to myself that houses are expensive when you're spending £800 pcm on a M4 or C63 !!!
As an example lets take a popular lease car at the moment, the M240i. This example assumes new cars so comparing apples with apples.We live in a world where people want instant gratification - and buying a car on finance that would take forever to save up for is a price worth paying for some. There has been a mentality shift from previous times of living within your means/savings.
Should we judge the people? Not really as it's up to them, just don't whine to myself that houses are expensive when you're spending £800 pcm on a M4 or C63 !!!
£32k purchase price new (includes £3k discount over RRP)
Lease deal @ 24 payments of £419 = £10k over 2 years.
2 year depreciation of £9K based on prices of 14 plate 235i models.
So, I can either save the £419 a month for 6+ years (whilst also running another car for that period), buy outright for £32K and lose £9K in the first 2 years of ownership or lease it now for 2 years and pay £10k.
Not a lot in it for the sake of 6+ years saving , and you also don't have to tie up £32k and have the arduous task of selling it when you want a change.
gizlaroc said:
Granfondo said:
here have I said that?
Are you for real??Maybe I, and many others, are getting you all wrong.
I have nothing against leasing but let's not pretend that everyone is doing it because it is cheaper!
PCP I don't like and gets lots of people into difficulties due to the way they are structured to make the payments low and upside down till near the very end of term but in many cases no equity at the end!
PCP sells cars no doubt about that but let's not be confused that's it's for the benefit of the consumer.
SWoll said:
As an example lets take a popular lease car at the moment, the M240i. This example assumes new cars so comparing apples with apples.
£32k purchase price new (includes £3k discount over RRP)
Lease deal @ 24 payments of £419 = £10k over 2 years.
2 year depreciation of £9K based on prices of 14 plate 235i models.
So, I can either save the £419 a month for 6+ years (whilst also running another car for that period), buy outright for £32K and lose £9K in the first 2 years of ownership or lease it now for 2 years and pay £10k.
Not a lot in it for the sake of 6+ years saving , and you also don't have to tie up £32k and have the arduous task of selling it when you want a change.
That's a very good example now try it with an M2.£32k purchase price new (includes £3k discount over RRP)
Lease deal @ 24 payments of £419 = £10k over 2 years.
2 year depreciation of £9K based on prices of 14 plate 235i models.
So, I can either save the £419 a month for 6+ years (whilst also running another car for that period), buy outright for £32K and lose £9K in the first 2 years of ownership or lease it now for 2 years and pay £10k.
Not a lot in it for the sake of 6+ years saving , and you also don't have to tie up £32k and have the arduous task of selling it when you want a change.
SWoll said:
As an example lets take a popular lease car at the moment, the M240i. This example assumes new cars so comparing apples with apples.
£32k purchase price new (includes £3k discount over RRP)
Lease deal @ 24 payments of £419 = £10k over 2 years.
2 year depreciation of £9K based on prices of 14 plate 235i models.
So, I can either save the £419 a month for 6+ years (whilst also running another car for that period), buy outright for £32K and lose £9K in the first 2 years of ownership or lease it now for 2 years and pay £10k.
Not a lot in it for the sake of 6+ years saving , and you also don't have to tie up £32k and have the arduous task of selling it when you want a change.
Except the new discounts on the M240i are 22% and the M140i nearer 25%. £32k purchase price new (includes £3k discount over RRP)
Lease deal @ 24 payments of £419 = £10k over 2 years.
2 year depreciation of £9K based on prices of 14 plate 235i models.
So, I can either save the £419 a month for 6+ years (whilst also running another car for that period), buy outright for £32K and lose £9K in the first 2 years of ownership or lease it now for 2 years and pay £10k.
Not a lot in it for the sake of 6+ years saving , and you also don't have to tie up £32k and have the arduous task of selling it when you want a change.
I think your lease will involve 6 payments up front too?
You still have the same issue that very few people are going to buy one without adding many options. Lease or PCP you get nothing back on most options and end up paying nearly the full amount.
Edited by Driver101 on Monday 24th October 00:33
Edited by Driver101 on Monday 24th October 00:34
Granfondo said:
SWoll said:
As an example lets take a popular lease car at the moment, the M240i. This example assumes new cars so comparing apples with apples.
£32k purchase price new (includes £3k discount over RRP)
Lease deal @ 24 payments of £419 = £10k over 2 years.
2 year depreciation of £9K based on prices of 14 plate 235i models.
So, I can either save the £419 a month for 6+ years (whilst also running another car for that period), buy outright for £32K and lose £9K in the first 2 years of ownership or lease it now for 2 years and pay £10k.
Not a lot in it for the sake of 6+ years saving , and you also don't have to tie up £32k and have the arduous task of selling it when you want a change.
That's a very good example now try it with an M2.£32k purchase price new (includes £3k discount over RRP)
Lease deal @ 24 payments of £419 = £10k over 2 years.
2 year depreciation of £9K based on prices of 14 plate 235i models.
So, I can either save the £419 a month for 6+ years (whilst also running another car for that period), buy outright for £32K and lose £9K in the first 2 years of ownership or lease it now for 2 years and pay £10k.
Not a lot in it for the sake of 6+ years saving , and you also don't have to tie up £32k and have the arduous task of selling it when you want a change.
SWoll said:
Granfondo said:
SWoll said:
As an example lets take a popular lease car at the moment, the M240i. This example assumes new cars so comparing apples with apples.
£32k purchase price new (includes £3k discount over RRP)
Lease deal @ 24 payments of £419 = £10k over 2 years.
2 year depreciation of £9K based on prices of 14 plate 235i models.
So, I can either save the £419 a month for 6+ years (whilst also running another car for that period), buy outright for £32K and lose £9K in the first 2 years of ownership or lease it now for 2 years and pay £10k.
Not a lot in it for the sake of 6+ years saving , and you also don't have to tie up £32k and have the arduous task of selling
it when you want a change.
That's a very good example now try it with an M2.£32k purchase price new (includes £3k discount over RRP)
Lease deal @ 24 payments of £419 = £10k over 2 years.
2 year depreciation of £9K based on prices of 14 plate 235i models.
So, I can either save the £419 a month for 6+ years (whilst also running another car for that period), buy outright for £32K and lose £9K in the first 2 years of ownership or lease it now for 2 years and pay £10k.
Not a lot in it for the sake of 6+ years saving , and you also don't have to tie up £32k and have the arduous task of selling
it when you want a change.
new model with a waiting list. It's surprising just how many cars the example does work for though.
In your workings above you have to save for 6+ years to get the capital and that is the point I have been making that most people don't have the capital saved so they don't have the choice anyway.
Edited by Granfondo on Monday 24th October 00:43
Driver101 said:
Except the new discounts on the M240i are 22% and the M140i nearer 25%.
You still have the same issue that very few people are going to buy one without adding many options. Lease or PCP you get nothing back on most options and end up paying nearly the full amount.
Be interested in seeing where those £27,500 new M240i's are available from? Best I've seen on discount sites is around £32k, so < 10% saving on list. You still have the same issue that very few people are going to buy one without adding many options. Lease or PCP you get nothing back on most options and end up paying nearly the full amount.
Option adding is subjective as they come ver well spec'd as standard, but ewill also add to the list price of the bought outright car whilst having minimal affect on used prices so doesn't skew the numbers very much TBH.
SWoll said:
Be interested in seeing where those £27,500 new M240i's are available from? Best I've seen on discount sites is around £32k, so < 10% saving on list.
Option adding is subjective as they come ver well spec'd as standard, but ewill also add to the list price of the bought outright car whilst having minimal affect on used prices so doesn't skew the numbers very much TBH.
First place I looked. Just a little out.Option adding is subjective as they come ver well spec'd as standard, but ewill also add to the list price of the bought outright car whilst having minimal affect on used prices so doesn't skew the numbers very much TBH.
http://www.coast2coastcars.co.uk/car-quote/
There's a guy on the BMW forums who gets all the best deals. TRL is his name.
I'll get his details if you want?
The link doesn't appear to be working. Coast2coast want £28,370.
Gassing Station | General Gassing | Top of Page | What's New | My Stuff