BMW Finance Decline
Discussion
daemon said:
Derek 911 said:
Taaaaang said:
There are some people writing on this thread that need to take a really long hard look at themselves; and I don't mean the OP.
What is wrong with you lot?
Pathetic.
Yeah thanks again for another decent member fighting my corner.What is wrong with you lot?
Pathetic.
I know my borrowing for a depreciating M3 or 911 can hardly be seen as that sensible as it’s a want not a need.
However I feel there is a fine line between sensible & responsible of which I have been treading for a long time with relative success I.e I don’t have bad debt for any of this or causing any issues to anyone.
I appreciate all that has been put out by decent people in a polite manner regarding my score and future and past borrowing habits.
For the ones that brought it down into some kind of old money middle class jag XJ driving sheepskin coat wearing cock wars it was all a bit boring.
It does strike me as very odd that in the "real world" people do have credit card debt, do have car finance and dont have a world of savings yet on here seemingly 95% of people are mortgage and debt free. And yet we're told Facebook is where people build up fake lives for themselves....
And for this to be a motoring "enthusiast" forum, heaven forbid people stretch themselves to get the car they really want....
As you say on a petrol head forum you can forgive me for the mistaken understanding that I may have been talking amongst friends with regard to high value vehicles and the best way to make myself more presentable to lenders.
I do find the piston heads attitude to depreciation on cars a bit strange, it’s a case of lets drive old cars cos it saves us money on depreciation & then throw stones at those cheap dicks who can’t afford to pay 50k cash for a new M3 anyway.
I’ve got a feeling the trouble and strife makes most of their decisions anyway which is why they need to come on here and vent.
TwinExit said:
daemon said:
FWIW i'm wholly behind you also. The problem was you mentioned BMW & PCP and sadly thats red rags to a bull to a minority on here, who like to look smug and po-faced and sit in judgement of others with passive aggressiveness and condescending comments to "help" you, yet i would say if truth be told their (financial) lives are less than perfect.
It does strike me as very odd that in the "real world" people do have credit card debt, do have car finance and dont have a world of savings yet on here seemingly 95% of people are mortgage and debt free. And yet we're told Facebook is where people build up fake lives for themselves....
And for this to be a motoring "enthusiast" forum, heaven forbid people stretch themselves to get the car they really want....
If many of PH'ers you rant of were to financially leverage themselves in the way how the OP did, can you imagine the garage list of the average PH'er?It does strike me as very odd that in the "real world" people do have credit card debt, do have car finance and dont have a world of savings yet on here seemingly 95% of people are mortgage and debt free. And yet we're told Facebook is where people build up fake lives for themselves....
And for this to be a motoring "enthusiast" forum, heaven forbid people stretch themselves to get the car they really want....
Loving and aspiring for fast/flashy cars is one thing, projecting an image of having such cars is quite another...
What planet are people on here living on, 30k lending is barely going to get you in a tricked up C class Mercedes these days this is the price of cars in the modern world is everyone in here just running stuff that’s 10 years old cos that’s what new cars cost and yeah I agree it’s a mugs game but the judgemental attitude of this place really stinks ‘can you imagine what the PH community could afford if they acted like the OP’ your as big a tosser as them.
Get debt for a car or don’t, if you can afford the monthly and you don’t default it’s up to you if you wanna hand the finance company 5-10% profit but the reality is there are lots of brand new cars on the road and if people are dropping 30-40k on them from new and then losing 25 of that over 3 years then well done to them they are ahead of me but I would imagine I’m not the only guy in the country leasing a depreciating asset it works for some of us.
Limpet said:
daemon said:
It does strike me as very odd that in the "real world" people do have credit card debt, do have car finance and dont have a world of savings yet on here seemingly 95% of people are mortgage and debt free. And yet we're told Facebook is where people build up fake lives for themselves....
This is the part that doesn't ring true for me either. Either PistonHeads genuinely doesn't represent a typical cross-section of society, or there are a lot of fibbers on here.Thankfully, it doesn't actually matter too much. Comparing your finances, or any other aspect of your life, to that of a complete stranger (and dare I say selectively worded or outright fabricated versions of reality some cases) doesn't get you anywhere. In fact, it's unhealthy.
Casually sitting at home whacking one out to a new episode of top gear as they compare latest M3 vs Merc AMG then fighting with themselves after it in a kinda ‘look at what you made me do’ kind of mindset.
The obvious remedy to their emotional episode would then be to come on PH and flame lesser mortals who don’t have the queens accountants on speed dial.
DonkeyApple said:
silentbrown said:
Interesting, thanks!
How is that disclosed? I naively thought the amount of tax I paid would be a confidential matter between me and HMRC...
OP: One other thing re: credit scores - get a free "second opinion" on your score from Noddle and/or ClearScore. You can't compare the numbers directly with the Experian one, but they may throw up other issues. My Experian score appears significantly "better" than the other two.
We would just ask the client for it if we felt we needed it. It’s no problem if they decline but obviously it ends there. How is that disclosed? I naively thought the amount of tax I paid would be a confidential matter between me and HMRC...
OP: One other thing re: credit scores - get a free "second opinion" on your score from Noddle and/or ClearScore. You can't compare the numbers directly with the Experian one, but they may throw up other issues. My Experian score appears significantly "better" than the other two.
Edited by silentbrown on Friday 23 March 15:59
With what we do now we don’t use credit scores. Personally, I don’t think they tell you all that much beyond a very basic view and now there are so many ‘agencies’ they all compete against each other to flog tat to plums. It’s a fantastic model because they know exactly what sort of stuff a customer buys and how to milk them.
The key for us these days is to simply liquidate a client’s leveraged portfolio long before it gets anywhere near to a negative balance while also stopping them from building a toxic book in the first instance. It just isn’t commercially viable to chase people for money.
What grounds would you accept me on given my current situation and things which are within my ability to control over the next 6 months for example?
daemon said:
DonkeyApple said:
DELETED: Comment made by a member who's account has been deleted.
The most important thing is to prevent a total rout in residential property. I’m of the view that over the last 5 years the market has been incredibly well de-leveraged at all the key risk points so that it can be left to burn without State interference and for the most leveraged to be cleared out to make way for the up and coming in society. Card debt is big along with the zero finance wheeze and ‘nothing to pay’ scam but whether it’s big enough to crash the system and spin into other areas like property I don’t know. I don’t think so. The counter party risk is back with the lender and they should have the balance sheets to swallow it.
Car debt is monumental. It is far less regulated than other forms of retail debt and banks have leapt at is as other areas have been tightened up. At the same time, consumers have leapt at it as they’ve been able to borrow less and less on property and credit cards. But the average car debt is a 2/3 year contract that has limited liability for the consumer so the risk falls back into the industry who in the event of a catastrophic drop in buying power of the consumer would struggle to change their production lines quickly enough. But governments always bail out their car industries and frankly that’s not that big a concern in the U.K. these days.
Ultimately, it probably boils down to how much the US soils itself as consumers there face spiralling debt costs and how that knocks on to us.
But the real secret killer is that when you look at the key middle income demographic in the U.K. almost none of them have pensions of any merit and no means to maintain any kind of lifestyle remotely close to what they are living now once the world decides to stop paying them to work. That’s the real bomb. The majority of people have chosen to spend now the money they will need later. And at the rate the bottom end job market is going to be changed by new tech then no one knows what infill jobs will be available to 60 year olds in twenty years time. There probably won’t be till work, minicabbing or any of those jobs currently used by those who get retired earlier than they had planned or those without sufficient savings. I think it is going to be this that drives an enormous wedge between the two sides of the above average income segment.
How did that pan out because last time I looked new car sales were way down demonstrating that people were capable of restraint and could react to risk?
Oh and isn't the car market a mere fraction of the mortgage market and isn't the main differentiator the fact that the finance company carries the risk in a crash not the individual like it is in a housing market crash?
And finally what's the issue if people aren't able to live to the same standard in their twilight years as they were in their earlier years? My old man is now 76 and not one f
k does he give about having a flash fast car at the door because he simply hadn't the ability any more to drive it. Nor does he jet off on foreign holidays because he's as the age where bus tours appeal more. And he's his mortgage paid off so no big outgoings there. Yes consideration is needed and we should always have on eye on our retirement plans but somebody fancying an m3 on a motoring forum isn't really justification for all the hand wringing and po faced responses the guy got.
8V085 said:
OP, you have my full support. Your score is pretty average but have you thought about calling BMW and telling them that the way you roll "IS MY CULTURE BRO, EMBRACE IT". They can't discriminate just because of who you are. If they do, sue the fk out of them and call them facists (they ain't Italian but still facists should work well on a German brand representative). You're entitled to your new BMW, it's your humayne right.
I don’t call people bro, I’m Scottish not American and I think it’s fair enough they knocked me back for it as others have said probably done me a favour stopping in tracks on another brand new depreciating chunk of metal but yeah I like the car so I’m on here looking at ways to boost my score back up for maybe a secondhand one at half the price in 6 months time. k out of them and call them facists (they ain't Italian but still facists should work well on a German brand representative). You're entitled to your new BMW, it's your humayne right.nct001 said:
From a time when I worked at a black horse ... your house is worthless and your equity is negligible... by the time they have repod just what is left when it goes to auction? At the time I worked there anything under £100k even if paid for no mortgage was worthless, their words not mine.
You are a dreamer with an income which is great but you are on your limits, ie 997 with no equity, and now looking for more... absolutely no chance my old mate.
You offer no financial protection to the lender, you have no assets... this must be a troll.
Is your new build next to a dual carriageway with a Berne inn attached?
Here we go again....... You are a dreamer with an income which is great but you are on your limits, ie 997 with no equity, and now looking for more... absolutely no chance my old mate.
You offer no financial protection to the lender, you have no assets... this must be a troll.
Is your new build next to a dual carriageway with a Berne inn attached?
who says I want more the 911 is getting sold and yeah I have a decent income to afford monthly payments and be approved on the finance for that 9 months ago so the M3 would be a contra deal for what I have. The house is in Scotland where property prices are relative to the cost of living so again my earnings are pretty decent for up here might not be much to how the other half live on piston heads but it’s pretty good for the cost of living here and in the past it’s made me a decent prospect because despite the d
heads comments on here I don’t default on anything and went through the last recession doing whatever it took. So get over yourselves. And to the other 15 year old keyboard troll talking about grammar and punctuation again it’s a bloody Internet forum I’m on my phone am not gonna spell check everything I type out and I didn’t know there was a law against that.
nct001 said:
Derek 911 said:
nct001 said:
From a time when I worked at a black horse ... your house is worthless and your equity is negligible... by the time they have repod just what is left when it goes to auction? At the time I worked there anything under £100k even if paid for no mortgage was worthless, their words not mine.
You are a dreamer with an income which is great but you are on your limits, ie 997 with no equity, and now looking for more... absolutely no chance my old mate.
You offer no financial protection to the lender, you have no assets... this must be a troll.
Is your new build next to a dual carriageway with a Berne inn attached?
Here we go again....... You are a dreamer with an income which is great but you are on your limits, ie 997 with no equity, and now looking for more... absolutely no chance my old mate.
You offer no financial protection to the lender, you have no assets... this must be a troll.
Is your new build next to a dual carriageway with a Berne inn attached?
who says I want more the 911 is getting sold and yeah I have a decent income to afford monthly payments and be approved on the finance for that 9 months ago so the M3 would be a contra deal for what I have. The house is in Scotland where property prices are relative to the cost of living so again my earnings are pretty decent for up here might not be much to how the other half live on piston heads but it’s pretty good for the cost of living here and in the past it’s made me a decent prospect because despite the d
heads comments on here I don’t default on anything and went through the last recession doing whatever it took. So get over yourselves. And to the other 15 year old keyboard troll talking about grammar and punctuation again it’s a bloody Internet forum I’m on my phone am not gonna spell check everything I type out and I didn’t know there was a law against that.
How many times do I need to explain that.
Also my house doesn’t go for equity on the car purchase anyway, if I default it they can come and take their asset IN THEORY notice I put that in bold cos that is not my attitude defaulting anything but again it just sounds like another reason to have a go and act the big man ‘is your house near a railway’ or whatever that pathetic middle class comment was would seem the upper class of piston heads struggle to read and unaware of the property market being somewhat different from where ‘the queen does her banking’ don’t you know
Edited by Derek 911 on Friday 23 March 20:47
nct001 said:
Derek 911 said:
Except I don’t have a 330d on finance anymore and proposing to buy a 35k M3 then I wouldn’t have the 911 either cos it would be traded in.
How many times do I need to explain that
Oh great so at the age of 38 you haveHow many times do I need to explain that
A 330d
And a house worth a cup of tea maybe with 25k equity...
Take a long hard look.
ker, moderators that let that go on should have loot at themselves. I don’t like the attitude on here at all and I think half of you talk more s
t than anything else to make yourself look flash on the internet which is sad I asked a question that was my contribution to this forum aresholes like you just troll and abuse people for no good reason Toaster Pilot said:
This forum has become an absolute joke.
Yeah sorry for the hornets nest I kicked over by asking what I thought was a genuine and honest question to a bunch of petrol heads how naive I was. Regardless of what my great unwashed 38 year old life has accumulated by this point a house worth less than a cup of tea & whatever other s
t was said about me I do have at least one thing that lot of people on here will never have & that is manners and class I’m not posting anymore bunch of dicks about here. Thanks for those that helped me with credit score chat lot of it was what I already thought anyway but some really good advice was given by a few genuine blokes.
Integroo said:
Derek 911 said:
This quote is just from a wker, moderators that let that go on should have loot at themselves.
I don’t like the attitude on here at all and I think half of you talk more st than anything else to make yourself look flash on the internet which is sad I asked a question that was my contribution to this forum aresholes like you just troll and abuse people for no good reason
I think those that are giving you a hard time need to get a grip. Sure, you can spend your money in a way that makes you wealthier than you are now. Sure, I think renting a vehicle worth half your annual salary is mental. However, plenty of people do it and if you want to spend your money in that way who are these people to tell you not to? As you say, you meet your financial responsibilities, have no dependents and can service your bills.ker, moderators that let that go on should have loot at themselves. I don’t like the attitude on here at all and I think half of you talk more s
t than anything else to make yourself look flash on the internet which is sad I asked a question that was my contribution to this forum aresholes like you just troll and abuse people for no good reason Some people in here need to get a grip of themselves. Jealousy, I wonder.
Also for the record I don’t spend half my earnings on my car nothing like it 50% of my yearly salary is the purchase price of what car I tend to drive.
Monthly payments to service that debt is more like 20% of take home pay yeah not too wise I admit it but hardly reckless and I have no other vices and live in a teapot so it’s ok.
Also I ain’t saying any of this to brag cos who gives a fk I could be lying anyway but it’s relevent to the abuse I’ve taken I’m glad there been some decent input on this thread I’m just sorry I subjected everyone else to such a st post for my first real one I didn’t know folk were like this on here.
Monthly payments to service that debt is more like 20% of take home pay yeah not too wise I admit it but hardly reckless and I have no other vices and live in a teapot so it’s ok.
Also I ain’t saying any of this to brag cos who gives a f
k I could be lying anyway but it’s relevent to the abuse I’ve taken I’m glad there been some decent input on this thread I’m just sorry I subjected everyone else to such a st post for my first real one I didn’t know folk were like this on here. nct001 said:
Integroo said:
nct001 said:
Guy has no assets... wake up smell the coffee he and perhaps yourself have done very well not to have had this firmly pointed out by Hmrc, business venture or similar.
It’s a hard world outside the corporate bubble.
.And who are you to tell him how he should live his life? It’s a hard world outside the corporate bubble.
head hole you just put yourself in? The car finance company couldn’t take my house anyway IF I DEFAULTED on the vehicle again notice the capitals cos I never would default anything I work hard to get by in any financial climate like any good standing person would.
So your either talking s
t about the previous job or just talking st g3org3y said:
berlintaxi said:
powerstroke said:
You do what you want it's your life and your money ... However a paid up mortgage and a account with the Queens bank gives you a warm glow .
Congratulations...complete dick of the week winner right there.
Good luck OP.
heads mate, no matter what you have in life civility and manners cost nothing. And I have couple of well off friends and they don’t have those horrible attitudes, I’m just a normal guy do ok work wise I get paid half decent money but nothing that makes me rich or anything I know I have bit of a daft streak with cars but I’m able to manage it along with everything else in life.
nct001 said:
Derek 911 said:
nct001 said:
Integroo said:
nct001 said:
Guy has no assets... wake up smell the coffee he and perhaps yourself have done very well not to have had this firmly pointed out by Hmrc, business venture or similar.
It’s a hard world outside the corporate bubble.
.And who are you to tell him how he should live his life? It’s a hard world outside the corporate bubble.
head hole you just put yourself in? The car finance company couldn’t take my house anyway IF I DEFAULTED on the vehicle again notice the capitals cos I never would default anything I work hard to get by in any financial climate like any good standing person would.
So your either talking s
t about the previous job or just talking st ‘See he’s irresponsible he’s even talking about defaulting, Smithers release the hounds’
nct001 said:
Derek 911 said:
nct001 said:
Derek 911 said:
nct001 said:
Integroo said:
nct001 said:
Guy has no assets... wake up smell the coffee he and perhaps yourself have done very well not to have had this firmly pointed out by Hmrc, business venture or similar.
It’s a hard world outside the corporate bubble.
.And who are you to tell him how he should live his life? It’s a hard world outside the corporate bubble.
head hole you just put yourself in? The car finance company couldn’t take my house anyway IF I DEFAULTED on the vehicle again notice the capitals cos I never would default anything I work hard to get by in any financial climate like any good standing person would.
So your either talking s
t about the previous job or just talking st ‘See he’s irresponsible he’s even talking about defaulting, Smithers release the hounds’
1. A few late payments CC = complacent not stretched but they don’t see that.
2. High credit utilisation I have one card with a balance getting paid this month I have 3 that I never used prob should kept them open to boost utilisation.
3. Maybe bigger deposit cheaper M3
4. Maybe sell Porsche first to avoid any doubts.
So when I responsibly sort the above as has been outlined by the good people who helped me on this thread I then may be able to get my M3.
But you my friend will always be a w
ker 8V085 said:
Brooking10 said:
Integroo said:
Why are you making deliberately obtuse comments on various threads about culture bros and embracing it?
Because he’s an idiot ?With incorrectly targeted racist views ?
8V085 said:
Flumpo said:
Well this has descended into completely unnecessary nonsense as usual.
It would be quicker if rather than asking any questions or topics, people just put up an insult and waited for a response.
This has been a nonsensical thread from the get go. It would be quicker if rather than asking any questions or topics, people just put up an insult and waited for a response.
BWWWWWAAAAAAAAH, WHY DON'T THAY WANT TO GIVE ME THEIR MONEY TO LET ME BUY THEIR CAR THAT I'M TOTALLY ENTITLED TOOOOOOOOOO, MUUUUUMMYYY! UNRESTRICTED ACCESS TO CHEAP CREDIT IS MY HUMAYNE RIGHT!!!!!
https://www.samaritans.org
I came here looking for advice I think I should’ve brought my couch and charged a fee.
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