Why the PH hatred for PCP?
Discussion
TheStigsWeeBrother said:
However evidence gathered by the credit reference agency Experian suggests the biggest growth in applications for PCPs is coming from those whose finances are already stretched.
An extract from a Report.
Theres no indication in that sentence though as to what the relative sizes of those markets were?An extract from a Report.
A 50% growth, for example in a 5% sector of the market, does not outweigh 95% of the market not having their finances stretched
Have you the report link handy? Wouldnt mind reading it.
There's only 2 reasons people get angry about other people PCP/ leasing :
1) They drive an expensive car bought in cash and they don't like to see peasants driving around in similar 'rented' cars because their own car no longer displays their level of wealth.
2) Shedists who think they're the most financially gifted people on the planet because their 1992 Volvo has cost them £1.86 to run for the last 10 years. Anyone who does anything different is a f
king idiot. Anyone seen in a new car is (in their mind) up to their eyes in debt, especially if they look even slightly young.
The rest of the population couldn't care less about the finances of other people.
1) They drive an expensive car bought in cash and they don't like to see peasants driving around in similar 'rented' cars because their own car no longer displays their level of wealth.
2) Shedists who think they're the most financially gifted people on the planet because their 1992 Volvo has cost them £1.86 to run for the last 10 years. Anyone who does anything different is a f
king idiot. Anyone seen in a new car is (in their mind) up to their eyes in debt, especially if they look even slightly young.The rest of the population couldn't care less about the finances of other people.
Gordon_Roslin said:
Wow, well if one person got lucky due to house prices rising (due to circumstances completely beyond your control) then yes 110% mortgages must have been a good thing. I'm convinced by that sample of one. Well done.
How ironic that you actually wrote 'don't mess with things you understand', oh the intellect. If prices had crashed, what would you have done then? Please share your teachings with us for our betterment.
He'd have kept on paying his mortgage? What difference would it have made?How ironic that you actually wrote 'don't mess with things you understand', oh the intellect. If prices had crashed, what would you have done then? Please share your teachings with us for our betterment.
Gordon_Roslin said:
nickfrog said:
This indeed confirms the roots of the hatred for PCP: lack of critical thinking and large chip on shoulder.
You keep posting about how smart you are Mr Frog without stopping to contemplate that your 'new vs pcp' calculations are based on a flawed premise. Manufacturers artificially inflate new values to make PCP seem better, isn't that obvious? So calculating comparative values are already flawed - it's a puppet show where the dealer is master of both puppets! The aforementioned points about people who can't afford new creating a false new vs. Pcp dichotomy to justify their incontinence are bang on the money also!
"People cant possibly get a PCP deal thats better than buying outright"
"I did"
"Ah but thats only because all manufacturers inflate the prices of their cars (even after discount presumably) to make PCP deals look better!"
So :-
(a) so PCP can work out better because even IF all manufacturers are doing that, theres nothing you can do nothing about it.
(b) you cant just admit that maybe sometimes PCP works out cheaper?
TheStigsWeeBrother said:
Who knows.
But you can safely assume that the figures for personal debt is going up and saving are going down if reports are to be believed.
The overall trend of consumer spending and commitment to credit is downwards. This is reflected in the numbers relating to mortgage applications, credit card applications and indeed new car sales.But you can safely assume that the figures for personal debt is going up and saving are going down if reports are to be believed.
Additionally the significant majority of consumer debt is held by high income households and is widely accepted as manageable - 70% in the top tenth.
There is a pressing consumer debt problem amongst low income (sub £1100 pcm) households where at least a quarter are either spending more than 25% of their income on unsecured debt or in significant arrears. I seriously doubt this is because of new white Audis.
Overall household unsecured debt numbers are alarming at first blush I agree and definitely grab the attention. That said the concentration point mentioned above needs to be remembered.
Additionally the numbers include education costs, specifically university fees and student loans.
What specifically is the point you want to make about PCPs ?
Edited by anonymous-user on Friday 25th January 15:03
Brooking10 said:
TheStigsWeeBrother said:
Who knows.
But you can safely assume that the figures for personal debt is going up and saving are going down if reports are to be believed.
The overall trend of consumer spending and commitment to credit is downwards. This is reflected in the numbers relating to mortgage applications, credit card applications and indeed new car sales.But you can safely assume that the figures for personal debt is going up and saving are going down if reports are to be believed.
Additionally the significant majority of consumer debt is held by high income households and is widely accepted as manageable - 70% in the top tenth.
There is a pressing consumer debt problem amongst low income (sub £1100 pcm) households where at least a quarter are either spending more than 25% of their income on unsecured debt or in significant arrears. I seriously doubt this is because of new white Audis.
Overall household unsecured debt numbers are alarming at first blush I agree and definitely grab the attention. That said the concentration point mentioned above needs to be remembered.
Additionally the numbers include education costs, specifically university fees and student loans.
What specifically is the point you want to make about PCPs ?
Edited by Brooking10 on Friday 25th January 15:03
jimPH said:
Yep that in no way makes you look and sound like a bit of a spiteful dick.jimPH said:
Lighten up a bit
jimPH said:
Either way, one of many unfortunate stories.
So Jim, when it's a positive experience you say it's anecdotal and a sample of one but when faced with another sample of one bad experience, you draw conclusions/generalise/assume. Despite it having little to do with PCP per se, incidentally.Do you have any data or is that just an assumption that there are "many unfortunate stories" as a proportion of the number of PCP deals ?
Edited by nickfrog on Friday 25th January 17:53
Brooking10 said:
Yep that in no way makes you look and sound like a bit of a spiteful dick.
+1I'm not convinced it's misselling unless the dealer told her that the contract was suitable for the needs she explained to them, but I can kind of understand how she's got into that scenario if she's previously had 2 cars from them on contracts that were appropriate for her needs and just said "same again, please".
The fact she's had those two deals without issue shows it's not at all an issue with PCP as a concept.
InitialDave said:
Brooking10 said:
Yep that in no way makes you look and sound like a bit of a spiteful dick.
+1I'm not convinced it's misselling unless the dealer told her that the contract was suitable for the needs she explained to them, but I can kind of understand how she's got into that scenario if she's previously had 2 cars from them on contracts that were appropriate for her needs and just said "same again, please".
The fact she's had those two deals without issue shows it's not at all an issue with PCP as a concept.
nickfrog said:
jimPH said:
Lighten up a bit
jimPH said:
Either way, one of many unfortunate stories.
Do you have any data or is that just an assumption that there are "many unfortunate stories" as a proportion of the number of PCP deals ?Edited by nickfrog on Friday 25th January 17:47
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