Pistonheads snobs vs lease!

[R12HCO]

A lot of threads on here seem to have little diggs about people leasing/finance cars.

A lot of members seem to get a stiff penis over the fact that they paided for their car in full and somebody else didnt (the current range rover thread for exmaple). If you are spending £650 - 700 on lease for a range rover, factor in insurance, fuel etc you looking at well over £1000 a month. If somebody is spending that on a car, plus general living costs, they arent doing bad in life. So why do a group of pistonheads look down on them?

Whats the problem i dont understand the stigma?

It not different to having a mortage? Which im sure 99% of us have had/will have at some point? Or are you looked down on for not spending £300,000 on a house cash?

[Davel]

Dunno really.

Always paid cash in the past for a company car.

Now bought on finance and putting the monthly payments through as a dividend.

[iphonedyou]

R12HCO said:

A lot of threads on here seem to have little diggs about people leasing/finance cars.

A lot of members seem to get a stiff penis over the fact that they paided for their car in full and somebody else didnt (the current range rover thread for exmaple). If you are spending £650 - 700 on lease for a range rover, factor in insurance, fuel etc you looking at well over £1000 a month. If somebody is spending that on a car, plus general living costs, they arent doing bad in life. So why do a group of pistonheads look down on them?

Whats the problem i dont understand the stigma?

It not different to having a mortage? Which im sure 99% of us have had/will have at some point? Or are you looked down on for not spending £300,000 on a house cash?

Because a surprisingly large number of people don't bother to take the time to understand that leasing can, in a number of circumstances, be financially beneficial.

Like a lot of things in life, it comes down to ignorance. Anyway, isn't it easier to spout an opinion you've heard off somebody else, than think about it, make your own conclusion and present your argument factually and logically? Boils my piss.

[George H]

Can't see anything wrong with financing cars myself, generally you can afford the car, but it takes out the couple of years saving up beforehand.

[Kiltox]

I imagine some peoples attitudes are towards the kind of person that has credit coming out of their ears just to drive a base spec 3 series to work - people who push themselves well beyond affordability.

I don't like to have a car on finance TBH, but I do, and it's cheap enough (£75pcm ) that it hardly makes a difference to me.

Depreciation is controlled so there are no shocks when I come to sell it, either.

[zakelwe]

I think most people are forced to have a mortgage where as with a car you don't. Also, in the long run it might be better to use that money paying for the car to pay your mortgage off quicker. However you might not be driving a nice car for a long time then.

Also, I think a lot of these cars on finance are more about image than fun. Look at the BMW 6 series, someone here a long time ago got a good finance deal so he was swanning around in a 645i, and it was a good deal, relatively, but was he doing it for the driving enjoyment or just because he had a flash car to pump up his lifestyle?

Finally, there is a great satisfaction about having a secret car fund and then buying something at the end of it, the wait/chase makes it even more special rather than BUY NOW.

I can see the other side of the coin though.

Andy

[sleep envy]

because for an unknown reason some people think that only through self flagelation and eating cold baked beans for dinner does it make one worthy to own a car

others, particularly those who couldn't care less how everyone else goes about paying for a car, look at both sides of the coin and work out which is best for them

[RacerMDR]

Davel said:

Dunno really.

Always paid cash in the past for a company car.

Now bought on finance and putting the monthly payments through as a dividend.

come again? Ltd company? My accountant said I couldn't do that! tell me how!

[R12HCO]

I thought the sensible thing would be to lease/finance the car, then when your in financial difficulty, it gets repo and you have thousands in a secret account in luxemburg?

[Mazdarese]

RacerMDR said:

Davel said:

Dunno really.

Always paid cash in the past for a company car.

Now bought on finance and putting the monthly payments through as a dividend.

come again? Ltd company? My accountant said I couldn't do that! tell me how!

If he's taking a dividend, he'll be paying tax on it and therefore able to spend it on whatever he wants.

[kambites]

I'd never buy a car on finance myself because I have no investments that can gain greater return than the cost of a loan. I have no objection to others doing it as long as they can afford it, though.

[18FAN]

You can pay yourself a dividend from the company rather than a salary - or in addition to a salary. Whether one uses the divident to put bread on the table or pay for the mowta is up to them.

[zakelwe]

There's a couple of other issues as well, if you get a loan for a car and then crash it you still have to pay off the loan so you are paying monthly for something you don't have. That has been raised more than once on here. Also, if you own the car you can start modifying it.

I don't think anyone buying outright is looking down their noses at finance people though, just that they prefer to do it their way and put their case across. Why are you so defensive ?

Go on, what have you just signed away your life for?



Andy

[Kiltox]

zakelwe said:

There's a couple of other issues as well, if you get a loan for a car and then crash it you still have to pay off the loan so you are paying monthly for something you don't have.

That's what GAP insurance is for

[Thesaint01708]

isnt this like the 'spent all your money buying that now cant afford to drive it?' thing?

or the council estate 'families' that dont work, have no carpet on the floors of their rented high rise but yet seem to be able to afford tatoos/gold/fags/drugs/large tvs and playstations?

you spend money on whats important, to you..

if you think a gold chain is 'worth' more to you than a 15x15' carpet for your kids bedroom then fair enough

[23rdian]

Something to do with that fact that someone who buys something on the never never can't really afford it?

...and why we now all have to be gang raped by banks for such people's benefit?

Edited by 23rdian on Thursday 26th May 18:31

[Thesaint01708]

i fear i may have gone slightly off topic lol

[Mazdarese]

23rdian said:

Something to do with that fact that someone who buys something on the never never can't really afford it?

...and why we now all have to be gang raped by banks for such people's benefit?

Edited by 23rdian on Thursday 26th May 18:31

That's not really true. I can afford to save £xxx a month, then in 3 years I can buy a car. Or I can afford the same amount each month on loan repayments with a very reasonable interest rate. I can afford both, but I wanted the car now.

[Willy Nilly]

Leasing only works for business users. My car is admittedly old, but I can maintain, fuel, tax, insure and put some aside each month for a replacement for less than it costs to just lease a base model of the model below what I have now.

It's nice having enough money tucked away for a new car and an old one on the drive with hardly any material value

[Kiltox]

I'd like to add that I'd only have something st like I have on finance - anything that was for fun would be used and having had done all of it's depreciation.

I want piece of mind/warranty/reliability for an everyday car but wouldn't mind getting oily for the weekend car.