Performance parts paid on drip

[J4CKO]

I think its possibly aimed at younger enthusiasts, I am 50 soon but I can remember yearning for an Ansa exhaust for my Golf GTI and a set of springs and dampers, I got them by saving but I wouldnt have been averse to paying monthly.

The trouble is, car mods can cost quite a lot to buy, then get fitted and also add to your insurance cost, assuming they get declared. Also, the car can still get crashed, fail an MOT or get stolen, the mods generally add little value so if it all goes wrong and you have sunk 3 grand into your 2004 hatchback, either you can sell it and its still worth a grand despite the modifications, or if you crash it you get paid out the same £1000, assuming they dont void your insurance if not declared or you dont claim.

That £700 exhaust system, £1000 wheels and tyres, stereo, suspension etc starts out shiny and important but often are disappointing or you get bored or it, but though the exhaust may be blowing, the wheels kerbed to death the balance still needs paying in shiny coins every month, with, in all likelihood at stellar (for the lender) APR.

Its very easy to end up paying a fair chunk of your disposable income on bits for a car you havent owned in 18 months.

Basically, cars arent generally a great investment, car parts really arent but I can certainly attest to the desire that having shiny things to put on your car can generate, especially when you are full of youthful enthusiasm and desperate to express yourself to show off your modded car, and I think we all need to perhaps get it out of our systems.


Just need to avoid that debt mounting, a few mods for the car, car loan, credit card, phone contract, few nice clothes for a night out, £100 for said night out, holiday with your mates. It is so easy to do.

[Weekendrebuild]

nikaiyo2 said:

If it is 0% then what difference does it make?

£145 is still £145.

Personally if there is 0% on offer i WILL use it. I would rather pay for this from income than wealth, that is just me and my way of looking at the world. It is not right or wrong.

I am not overly worried by debt, never have been, never will be. (Currently well in seven figures and I don't have a mortgage on my PPR)

Who’s talking what they are worth? PistonHeads at its finest .

Edited by Weekendrebuild on Monday 24th February 17:45

[SidewaysSi]

This is going well.

[Julian Thompson]

SidewaysSi said:

This is going well.

[edc]

Julian Thompson said:

SidewaysSi said:

This is going well.

The inability to accept an alternative position and unwillingness to accept people have different circumstances, priorities and risk is what is wrong with PH these days. Rather than looking to understand why people do what they do or behave the way they do people criticise others who do not live by their ideal. PH is meant to be a community but really it's now just a ground for people to make inflammatory comments, show intolerance and position a view that won't accept people will do something different.

[anonymous-user]

Sam.M said:

Oh boy! I can't wait for this thread to run 70 pages like the car finance thread.

4 pages and counting

How much longer can people b-tch about this?

How many people will misquote and misrepresent each others view point for some point scoring?

How long before the thread is chock full of snarky HTH and rolleyes smileys?

Tune in for today's installment of PistonHeadenders

[nikaiyo2]

Weekendrebuild said:

Who’s talking what they are worth? PistonHeads at its finest .

Edited by Weekendrebuild on Monday 24th February 17:45

Not me really- was a bit crass so edited.

I was agreeing with you tbh, different people have different attitudes to debt. Neither is more right than the other.

In the same way I bet your favorite restaurant or holiday destination is different to mine, neither is right or wrong just different..

[3yardy3]

I own my 2011 Alfa Romeo Giuletta Cloverleaf.

The turbo failed so had to fork out £800 to get it fixed. I wanted more out of the car so decided to get an interest free credit card and get Lowering springs, sports exhaust, remap and refurbish the alloys at the same time. OEM plus was the aim, I've achieved this and it puts a massive smile on my face, I'm probably going to keep it for another 2 years.

Why fork out £1300 in one hit when you can pay £108 per month... I've got a secure job and no issues what so ever with paying the bills, why wait and save when you have the option to do it today for the same actual cost at the end of the year...?

[designforlife]

OP is too busy splashing out on aftermarket parts for his Celica to reply... all paid for up front from his lavish bank account of course

[SidewaysSi]

edc said:

Julian Thompson said:

SidewaysSi said:

This is going well.

The inability to accept an alternative position and unwillingness to accept people have different circumstances, priorities and risk is what is wrong with PH these days. Rather than looking to understand why people do what they do or behave the way they do people criticise others who do not live by their ideal. PH is meant to be a community but really it's now just a ground for people to make inflammatory comments, show intolerance and position a view that won't accept people will do something different.

Yep, pretty sad to be honest.

[3yardy3]

SidewaysSi said:

edc said:

Julian Thompson said:

SidewaysSi said:

This is going well.

The inability to accept an alternative position and unwillingness to accept people have different circumstances, priorities and risk is what is wrong with PH these days. Rather than looking to understand why people do what they do or behave the way they do people criticise others who do not live by their ideal. PH is meant to be a community but really it's now just a ground for people to make inflammatory comments, show intolerance and position a view that won't accept people will do something different.

Yep, pretty sad to be honest.

This is Social media on all platforms these days... It's sad.

[J4CKO]

3yardy3 said:

Why fork out £1300 in one hit when you can pay £108 per month... I've got a secure job and no issues what so ever with paying the bills, why wait and save when you have the option to do it today for the same actual cost at the end of the year...?

Not a bad idea to smooth finances out over time, as long as it doesn't cost you vast amounts more in the long run.

I try to do this, anything monthly I pay by Direct Debit if it doesnt cost more, otherwise if it does cost more I try to pay it in one lump, stuff like car insurance can have pretty hefty interest and add a fair chunk so best to pay that in full.

It does however require a bit of discipline and enough cash on hand to cover it, another concept I have is borrowing it off myself, £500 bill comes up and dont have it spare, I borrow it from my savings and put it back, but again requires enough cash in savings to do so. Not everyone has savings to dip into.

As always, being skint is expensive, the more skint you get the more expensive it is, as any financial product designed for those who really need it is generally designed to rinse every penny out of them, pre paid card gas meters, Brighthouse and all that, interest free credit is great but not everyone gets that option.


What I think is forgotten is people still want and need stuff if they dont have loads of money, and in my experience that is particularly true when you are younger and have less money. I have been there and its only hindsight, practice and earning a better salary that is different, and that can change overnight for one reason or another.

[Batfink]

I bought my car with a loan simply because the interest rate was so low the cost over 5 years was tiny.
I have the money, I just wanted the flexibility

[warch]

tejr said:

This has been happening since I remember? People are usually quite discreet about it, but as everyone has said, each to their own.

This has been going on for decades. I believe I've seen this in old car magazines dating from from the 50s offering car parts and aftermarket accessories on 'the never never'. People doing this with things like tyres (which were proportionately much more expensive in the olden days) always seems a bit sad, you'd be lucky to have made your final repayment before they all needed replacing again.

People generally used to buy all their luxury goods on tick, the cost of a new television or fridge being beyond most peoples means unless they spread the payments.

[Baldchap]

I remember 30+ years ago you could get funny plates or a small model house ornament thing for so much a week/month/whatever from the back of the TV guide.

[The_Nugget]

crofty1984 said:

It works a bit like this:

Someone can save up £100 a month for 2 years and at the end of it but a thing they can enjoy for £2400.

Or they can pay someone £110 a month to have the same thing today. It means that they pay MORE for the thing, but maybe they feel like an additional 2 years of enjoyment is worth £240.

That's how loans work. I hope this little lesson has been useful.

Plus in 2 years when they have saved up the thing or equivalent will likely cost more than the £2400 it cost 2 years ago, so it might be cheaper to have it now in the long run.

[Jimmy Recard]

Baldchap said:

I remember 30+ years ago you could get funny plates or a small model house ornament thing for so much a week/month/whatever from the back of the TV guide.

Probably overused, but appropriate

[warch]

Or this, which believe it or not is not a spoof item.



Behold the Anfield Cuckoo Clock!

[Escy]

I recently had my car mapped on a dyno, I noticed on the website there was the option to pay by Klarna and it was 0% interest. I didn't use it but can see why you would want to. I bet it helps get customers through the door.

[CS Garth]

The_Nugget said:

crofty1984 said:

It works a bit like this:

Someone can save up £100 a month for 2 years and at the end of it but a thing they can enjoy for £2400.

Or they can pay someone £110 a month to have the same thing today. It means that they pay MORE for the thing, but maybe they feel like an additional 2 years of enjoyment is worth £240.

That's how loans work. I hope this little lesson has been useful.

Plus in 2 years when they have saved up the thing or equivalent will likely cost more than the £2400 it cost 2 years ago, so it might be cheaper to have it now in the long run.

Or more than likely it will be 60% of the cost and you won’t want it and will have £2.4k in the bank.

Learning to resist the urge to buy things immediately is a key life skill.