Whats the problem with PH's and finance?
Discussion
Uncle Gueber said:
Because everyone on Ph is a HNWI.
Why commit to a depreciating asset when you can invest your capital for 10-15% return. Then you simply buy vehicle outright.
Why buy it outright being a HNWI, you buy a car for cash for £30k just lost £6k instantly in VAT then depreciation on top, better off leaving the cash in the bank getting a decent return on it and borrowing the money at a low rate. Stupid paying cash for them.Why commit to a depreciating asset when you can invest your capital for 10-15% return. Then you simply buy vehicle outright.
xreyuk said:
I buy a car on finance, because I need something reliable, with a bit of warranty left, and I don't have the cash for it up front.
I cover a lot of mileage and need a good car for work.
Also, where is this corsa thread?
http://www.pistonheads.com/gassing/topic.asp?h=0&a...I cover a lot of mileage and need a good car for work.
Also, where is this corsa thread?
xreyuk said:
I buy a car on finance, because I need something reliable, with a bit of warranty left, and I don't have the cash for it up front.
If only everyone was this honest, most of the finance threads wouldn't exist. But people can't bring themselves to be as candid as you. They have to pretend they buy a car on finance because they've got £100k in the bank in cash which they happen to need for an investment.borrowing on finance is fine for something you need, if all you buy is all you need and you need it to earn a living. a builder's transit with windy windows for example, he will be using that purchase to make money, and hopefully he will cover his finance costs with his margins.
it's also fine for something you want, but as everyone's dad will tell you, once you start you'll never stop and do you really want to be dragging your arse to work at 60 because you have to pay for stuff you didn't need?
it's also fine for something you want, but as everyone's dad will tell you, once you start you'll never stop and do you really want to be dragging your arse to work at 60 because you have to pay for stuff you didn't need?
After_Shock said:
Uncle Gueber said:
Because everyone on Ph is a HNWI.
Why commit to a depreciating asset when you can invest your capital for 10-15% return. Then you simply buy vehicle outright.
Why buy it outright being a HNWI, you buy a car for cash for £30k just lost £6k instantly in VAT then depreciation on top, better off leaving the cash in the bank getting a decent return on it and borrowing the money at a low rate. Stupid paying cash for them.Why commit to a depreciating asset when you can invest your capital for 10-15% return. Then you simply buy vehicle outright.
Im buying a car on finance, because i can afford it monthly, its a way to have a brand new car thats reliable and fun for 2 years, bridging the gap until i can get insurance on a focus RS.
Not everyone has 16k sat in the bank to spunk on a car, its not needed really, hand the car back in 2 years and be no worse off
Not everyone has 16k sat in the bank to spunk on a car, its not needed really, hand the car back in 2 years and be no worse off
Fox- said:
If only everyone was this honest, most of the finance threads wouldn't exist. But people can't bring themselves to be as candid as you. They have to pretend they buy a car on finance because they've got £100k in the bank in cash which they happen to need for an investment.
Lol. Well, I didn't actually get finance, as I couldn't negotiate a deal to match the bank. The loan Barclays offered was 6.9% APR, car dealership wouldn't budge from 12%, so I went with the loan.Also, because I can't afford it, I wouldn't buy something new, but would buy something that's low-ish mileage, and maybe has a year warranty left on it. Most of the guys in my job tend to do this, as we take a low mileage car and start putting high mileage on it, and something can quite often go wrong. Thankfully, I get expenses which do help cover the cost of the finance somewhat.
Unfortunately, not all of us are as good as these mad chavtastics who are mega rich.
Edited by xreyuk on Sunday 20th May 23:20
Edited by xreyuk on Sunday 20th May 23:20
Sir Bagalot said:
After_Shock said:
Uncle Gueber said:
Because everyone on Ph is a HNWI.
Why commit to a depreciating asset when you can invest your capital for 10-15% return. Then you simply buy vehicle outright.
Why buy it outright being a HNWI, you buy a car for cash for £30k just lost £6k instantly in VAT then depreciation on top, better off leaving the cash in the bank getting a decent return on it and borrowing the money at a low rate. Stupid paying cash for them.Why commit to a depreciating asset when you can invest your capital for 10-15% return. Then you simply buy vehicle outright.
jimmy156 said:
Sir Bagalot said:
After_Shock said:
Uncle Gueber said:
Because everyone on Ph is a HNWI.
Why commit to a depreciating asset when you can invest your capital for 10-15% return. Then you simply buy vehicle outright.
Why buy it outright being a HNWI, you buy a car for cash for £30k just lost £6k instantly in VAT then depreciation on top, better off leaving the cash in the bank getting a decent return on it and borrowing the money at a low rate. Stupid paying cash for them.Why commit to a depreciating asset when you can invest your capital for 10-15% return. Then you simply buy vehicle outright.
Buying a car for 30k includes 5k of VAT.
Edited by fandango_c on Sunday 20th May 23:37
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