If the shoe were on the other foot...
Discussion
romeogolf said:
There's a fair amount of dislike towards leases/pcp/car loans here.
So say you've got £1k in your pocket, but you can afford £300 plus fuel each month. You drive around 22k miles each year and, for whatever reason, have absolutely no car right now.
What do you do?
The dislike is with people pretending to afford what they can't afford.So say you've got £1k in your pocket, but you can afford £300 plus fuel each month. You drive around 22k miles each year and, for whatever reason, have absolutely no car right now.
What do you do?
The only way for them to get into their generic German premium car is having a helping hand with the finances.
kambites said:
Personally, I'd buy a £1k car and stick the £300 a month into a savings account. 
But your £1k car only does half the fuel economy of a brand new lease car. If you do enough miles, at some point the lease car is actually saving you money.I've nothing against leasing, but I don't understand spending £300 per month on a car that's limited to 5k miles. For that mileage i'd happily run a £1k car. And infact, I do.
Sump said:
romeogolf said:
There's a fair amount of dislike towards leases/pcp/car loans here.
So say you've got £1k in your pocket, but you can afford £300 plus fuel each month. You drive around 22k miles each year and, for whatever reason, have absolutely no car right now.
What do you do?
The dislike is with people pretending to afford what they can't afford.So say you've got £1k in your pocket, but you can afford £300 plus fuel each month. You drive around 22k miles each year and, for whatever reason, have absolutely no car right now.
What do you do?
The only way for them to get into their generic German premium car is having a helping hand with the finances.
if you can afford the monthly payments you can afford it
Sump said:
romeogolf said:
There's a fair amount of dislike towards leases/pcp/car loans here.
So say you've got £1k in your pocket, but you can afford £300 plus fuel each month. You drive around 22k miles each year and, for whatever reason, have absolutely no car right now.
What do you do?
The dislike is with people pretending to afford what they can't afford.So say you've got £1k in your pocket, but you can afford £300 plus fuel each month. You drive around 22k miles each year and, for whatever reason, have absolutely no car right now.
What do you do?
The only way for them to get into their generic German premium car is having a helping hand with the finances.
I'm firmly in the buying outright camp. £1000 buys you a surprising amount of car. The fuel economy argument is hogwash. There's plenty of economical cars at this price.
I'm not anti leasing by any means but I suspect most people get into it to get the latest shiny bauble without realising they never actually own it.
I'm not anti leasing by any means but I suspect most people get into it to get the latest shiny bauble without realising they never actually own it.
IanCress said:
kambites said:
Personally, I'd buy a £1k car and stick the £300 a month into a savings account.
But your £1k car only does half the fuel economy of a brand new lease car. If you do enough miles, at some point the lease car is actually saving you money.I've nothing against leasing, but I don't understand spending £300 per month on a car that's limited to 5k miles. For that mileage i'd happily run a £1k car. And infact, I do.
I can see the appeal of leasing, but I can't see myself ever doing it.
Dave Hedgehog said:
Sump said:
romeogolf said:
There's a fair amount of dislike towards leases/pcp/car loans here.
So say you've got £1k in your pocket, but you can afford £300 plus fuel each month. You drive around 22k miles each year and, for whatever reason, have absolutely no car right now.
What do you do?
The dislike is with people pretending to afford what they can't afford.So say you've got £1k in your pocket, but you can afford £300 plus fuel each month. You drive around 22k miles each year and, for whatever reason, have absolutely no car right now.
What do you do?
The only way for them to get into their generic German premium car is having a helping hand with the finances.
if you can afford the monthly payments you can afford it
The chap who can afford it merely sells the car and moves on.
Sump said:
The dislike is with people pretending to afford what they can't afford.
The only way for them to get into their generic German premium car is having a helping hand with the finances.
Probably sums up my current scenario. I pootled around in second hand cars for years, convincing myself that the £1000 odd per year on maintenance plus the insurance, tax ect was better than paying for a new car.The only way for them to get into their generic German premium car is having a helping hand with the finances.
Now I pay one amount for a new car which includes a warranty and my servicing. For what it costs in my pocket each month, I'm happy with a lot less hassle.
And I don't pretend to be able to afford it, I make the payments each month, so yes I can afford it.
Sump said:
No, let's say you suddenly lose your job. Can you afford it then without digging into savings or what not? Probably not.
The chap who can afford it merely sells the car and moves on.
Not sure how thats different to having a mortgage.The chap who can afford it merely sells the car and moves on.
Edited by AClownsPocket on Thursday 25th September 15:35
AClownsPocket said:
Not sure how thats different to having a mortgage.
Houses are slightly different in that you can't buy a perfectly good house for a tenth of the price just because it happens to be second-hand. 
Of course anyone who has a mortgage and buys a car with cash has still borrowed money to buy the car because they could have used the money to pay off the mortgage.
t so in 4 months I could buy a car for £1020!?Gassing Station | General Gassing | Top of Page | What's New | My Stuff