Must Have The Best Car, As Young As Possible
Discussion
I like to call the young people generation credit. All the time rates are artificially low this will continue as finance is cheap In Terms of servicing the debt.
Young people should borrow a greater proportion of their income, this is how it works, the young borrow and the old save.
However, there is a new element emerging from this cheap finance that young people can afford to buy assets on credit that they do not appreciate. Our area is full of under 30 year olds driving mercs on cheap finance, the gym is a hotspot for this. The whole male peacocking thing annoys the hell out of me, bring on 10% base rates.
Young people should borrow a greater proportion of their income, this is how it works, the young borrow and the old save.
However, there is a new element emerging from this cheap finance that young people can afford to buy assets on credit that they do not appreciate. Our area is full of under 30 year olds driving mercs on cheap finance, the gym is a hotspot for this. The whole male peacocking thing annoys the hell out of me, bring on 10% base rates.
Seriously what is up with lads today. Being young has always meant rebelling against the adult world. Just think, from James Dean (Rebel without a cause), to Bob Dylan, the Angry Young Men (Saturday Night and Sunday Morning,etc} Flower Power, Punk and underground raves, youths have always challenged the beliefs and especially the materialism of the older generation.
But what have we got now; 20 year olds with the attitudes of 40 year old photocopier salesmen (if such a breed still exists) and an outward show of presumed wealth being all important.
I would sooner see a teenager driving a chavved-up Corsa; he might have made a complete balls of it, but at least he is trying to be part of a genuine youth culture rather than being sucked in by big business who have no interest in him other than screwing as much out of him as they can.
But what have we got now; 20 year olds with the attitudes of 40 year old photocopier salesmen (if such a breed still exists) and an outward show of presumed wealth being all important.
I would sooner see a teenager driving a chavved-up Corsa; he might have made a complete balls of it, but at least he is trying to be part of a genuine youth culture rather than being sucked in by big business who have no interest in him other than screwing as much out of him as they can.
If he buys the right one, at the right price and looks after it then it isn't as daft as it may sound, hopefully it shouldn't depreciate too much and, unlike clubbing, he has an asset at the end of it, rather than just tinnitus.
Tell him to stop watching Supercar Trainspotters on Youtube, whenever I see those video and I see the intro screen with its annoying camera shutter sounds and grating music, I have to turn it off.
Tell him to stop watching Supercar Trainspotters on Youtube, whenever I see those video and I see the intro screen with its annoying camera shutter sounds and grating music, I have to turn it off.
Justin Case said:
Seriously what is up with lads today. Being young has always meant rebelling against the adult world. Just think, from James Dean (Rebel without a cause), to Bob Dylan, the Angry Young Men (Saturday Night and Sunday Morning,etc} Flower Power, Punk and underground raves, youths have always challenged the beliefs and especially the materialism of the older generation.
But what have we got now; 20 year olds with the attitudes of 40 year old photocopier salesmen (if such a breed still exists) and an outward show of presumed wealth being all important.
I would sooner see a teenager driving a chavved-up Corsa; he might have made a complete balls of it, but at least he is trying to be part of a genuine youth culture rather than being sucked in by big business who have no interest in him other than screwing as much out of him as they can.
Well lads today give this sort of crap 700 000 views and about £1k in the back pocket of some half whitBut what have we got now; 20 year olds with the attitudes of 40 year old photocopier salesmen (if such a breed still exists) and an outward show of presumed wealth being all important.
I would sooner see a teenager driving a chavved-up Corsa; he might have made a complete balls of it, but at least he is trying to be part of a genuine youth culture rather than being sucked in by big business who have no interest in him other than screwing as much out of him as they can.
https://www.youtube.com/watch?v=ugmNK197KM8
So what do you expect?
At 4.50am this morning I over cooked the roundabout at Dunton Green in the MX5 and ended up in a half spin. At least the windows were open ( to avoid screen mist ) so I got some fresh air.
I've been saving up 8 months now for a BBR turbo for it. It's taking time but the slow burn of saving up for something you can then benefit from makes it even more of a treat when it arrives.
The instant gratification on someone elses money is what lead to the collapse in 2008. Do we never learn?
Me, aged 47, MX5 spinner on way to work. Never too old to enjoy cars more than the drivers limits
Today's youths should be sticking CHEAP cars backwards through hedges. But they seem to be just on the internet doing it in VR whilst driving expensive cars with fat tyres slowly in the real world Sad sad sad.
Edited by Gandahar on Friday 19th December 15:59
It's just chest beating of a modern kind. No doubt we all did it in one fashion or another. I guess the bit that concerns me is the speed at which someone can get themselves into serious financial trouble that will impact them for years.
I wasted my money on going out, drinking and enjoying myself but then I could only spend what I had in my bank (up to my overdraft limit :-))....OK I had nothing but memories left (and some of those are distinctly hazy :-)) but I did make some lifelong friends who have shared memories...and not a big debt.
I coulnd't afford my 1st car until I was 21...a beige 950 Ford Feista. It did have a go faster blue stripe though :-). I loved that car. Drove it until it fell to pieces.
The young will always puzzle the "older" :-) ....same behaviour, slightly different circumstances.
Hope your brother snaps out of it sooner rather than later, but I doubt you are going to sway him significantly until he's ready to see the light.
I wasted my money on going out, drinking and enjoying myself but then I could only spend what I had in my bank (up to my overdraft limit :-))....OK I had nothing but memories left (and some of those are distinctly hazy :-)) but I did make some lifelong friends who have shared memories...and not a big debt.
I coulnd't afford my 1st car until I was 21...a beige 950 Ford Feista. It did have a go faster blue stripe though :-). I loved that car. Drove it until it fell to pieces.
The young will always puzzle the "older" :-) ....same behaviour, slightly different circumstances.
Hope your brother snaps out of it sooner rather than later, but I doubt you are going to sway him significantly until he's ready to see the light.
I did something similar when I was 19 and not on a great wage, bought a new car, optioned up to the eyeballs on PCP, anyway a few months later I got a job offer I couldn't really turn down, but that involved moving out of Mum and Dads house and renting a place, doing so, even on my new increased salary meant I couldn't afford to keep the car. Had to go, and I got royally bummed for it too.
Ended up taking a while to sort that mess out, and I spent a good 2.5 years without a car, which enabled me to buy my first place and managed to acquire a nice car for myself again that is more within my means now my salary has greatly improved. I must stress, I really did regret making that commitment, perhaps I wouldn't have had to rent for two years if I hadn't pissed my money up the wall, it's just not worth it.
Tell him to sort his priorities out, I suppose I could be living with mum and dad and leasing a fezza, It'd suck though.
Actually then I wouldn't have to do any ironing.. or cooking....
Ended up taking a while to sort that mess out, and I spent a good 2.5 years without a car, which enabled me to buy my first place and managed to acquire a nice car for myself again that is more within my means now my salary has greatly improved. I must stress, I really did regret making that commitment, perhaps I wouldn't have had to rent for two years if I hadn't pissed my money up the wall, it's just not worth it.
Tell him to sort his priorities out, I suppose I could be living with mum and dad and leasing a fezza, It'd suck though.
Actually then I wouldn't have to do any ironing.. or cooking....
R8VXF said:
Better that than getting drunk down town on a Friday night.
Not so fast! Between 17-27 nothing was better that getting drunk down town on a Friday Night!Ahh Memories. Its the one collection of memories that keep me sane being 40years old with a demanding job, wife and kids!!
bazza white said:
Not sure its new. How many saxos were on finance. I remember a few mates getting a saxo/106 etc bragging and showing off then 6 months later the regret sets in.
good point, but i remember some of the saxo deals being really good - something like 6-7k for a simple one with free insurance for 18 + thrown in, the insurance at 18 was a lot, so knock that off the car and it wasn't a bad deal.I didn't have a saxo on finance btw!
Never considered this to be honest, but now I think about it, there are a lot of young people in nice new cars.
I couldn't take out finance on a new (or nearly new) depreciating asset. I've only ever borrowed once, a small loan to help buy my TVR as a recent house purchase had wiped out all my cash. I paid it back in half the loan term and the car has since appreciated in value! Happy days.
I love the fact that my cars are so different. Excusing the Golf (girlfriend's car), I couldn't have a boring German rep mobile!
I couldn't take out finance on a new (or nearly new) depreciating asset. I've only ever borrowed once, a small loan to help buy my TVR as a recent house purchase had wiped out all my cash. I paid it back in half the loan term and the car has since appreciated in value! Happy days.
I love the fact that my cars are so different. Excusing the Golf (girlfriend's car), I couldn't have a boring German rep mobile!
If I were him, I'd forget about new; the massive depreciation we have in the UK means that (more or less) whatever he'd buy, he could tidy used example for much less. He could then spend the difference on all the other stuff.
At 19, I bought a car with an RRP of £16.5k for £9k, at only 11 months old and with 8k miles on the clock. Not being a PH company director, I'd have been f
king mental to buy a new one and lose £7.5k in 11 months (that was about a third of a deposit for our house)!
At 19, I bought a car with an RRP of £16.5k for £9k, at only 11 months old and with 8k miles on the clock. Not being a PH company director, I'd have been f
king mental to buy a new one and lose £7.5k in 11 months (that was about a third of a deposit for our house)!david_h said:
I like to call the young people generation credit. All the time rates are artificially low this will continue as finance is cheap In Terms of servicing the debt.
Young people should borrow a greater proportion of their income, this is how it works, the young borrow and the old save.
However, there is a new element emerging from this cheap finance that young people can afford to buy assets on credit that they do not appreciate. Our area is full of under 30 year olds driving mercs on cheap finance, the gym is a hotspot for this. The whole male peacocking thing annoys the hell out of me, bring on 10% base rates.
While I agree with most of what you wrote a 10% base rate would kill the property market. It's not generation credit as you call us that has inflated the housing market to a point at which interest rates cannot be raised significantly without millions of homes being repossessed due to people mortgaging themselves up to the eyeballs through lack of choice. Young people should borrow a greater proportion of their income, this is how it works, the young borrow and the old save.
However, there is a new element emerging from this cheap finance that young people can afford to buy assets on credit that they do not appreciate. Our area is full of under 30 year olds driving mercs on cheap finance, the gym is a hotspot for this. The whole male peacocking thing annoys the hell out of me, bring on 10% base rates.
At least my car payment is fixed and cannot change, mortgage rates don't stay fixed for long!!
CarAbuser said:
The latest German metal in finance white is where it's at.
Plenty of guys in their early twenties with a brand new £250pm Golf R in my area.
I bet there are a lot of guys on here with cars that cost them nearly that to maintain but offer none of the mod cons and not even close to the performance of a golf R. Would I rather have a small fixed payment or uncertain repair bills? Easy choice at £3k a year.Plenty of guys in their early twenties with a brand new £250pm Golf R in my area.
stargazer30 said:
Lugy said:
A few folk I know are like this, ever since making the mistake of buying a nearly new car on tick and realising what a mistake it was, I'm of the opinion that if you need credit, then you can't afford it.
I think that's a step too far. I just bought a brand new car on PCP. Why? to save money, pure and simple. What it costs to buy and run is less than my fuel cost alone on my old car. So even though its debt and I don't own it. Every month I run it I save £250. So in some cases (rare) its a good idea.Stupid to go get a ton of debt on something that's going to depreciate faster than you reduce the loan balance though.
Saw this thread and thought of this http://www.manchestereveningnews.co.uk/news/greate...
Their two addresses are slumy social housing areas so likely these two drivers are paupers but they seem to be able to fund two pricey cars which are all about image despite seemingly not being gainfully employed. The crazy welfare system has a lot to answer for encouraging the existence of the likes of these prycks (and there are millions more just like them out there).
I'm assuming neither of these mongs is ever going to earn more than £30k in some manual brain dead job if their income is obtained legally so where does the money come from or do we know the answer to that one already...
Their two addresses are slumy social housing areas so likely these two drivers are paupers but they seem to be able to fund two pricey cars which are all about image despite seemingly not being gainfully employed. The crazy welfare system has a lot to answer for encouraging the existence of the likes of these prycks (and there are millions more just like them out there).
I'm assuming neither of these mongs is ever going to earn more than £30k in some manual brain dead job if their income is obtained legally so where does the money come from or do we know the answer to that one already...
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