Are the wheels about to fall of car finance?
Discussion
Deep Thought said:
HungParlay said:
Deep Thought said:
Not an issue - and why would it be?
Not happening to 2021 at the earliest, and no different than anyone else having a car bought with cash or finance and having to look at their medium to long term options.
well anything that's going to put people off buying diesel cars will increase their depreciation and then force people to up their repayments Not happening to 2021 at the earliest, and no different than anyone else having a car bought with cash or finance and having to look at their medium to long term options.
this already happened to people after VW cheating emissions scandal, if cities start banning or even making rumblings of banning diesel cars it's going to lower their appeal and resale value
If peoples payments are up a bit, what odds? Not a deal breaker for most i'd have thought.
And used VW prices are not down anyway.
And those with PCP deals in place currently wont give a monkeys as they can hand the car back, irrespective of its value relative to the balloon payment.
HungParlay said:
UP? because less are sold!? if less are wanted then people not buying those second hand ones either
Yes. The demand has fallen for NEW diesels, but has not dropped as much for USED diesels. Therefore prices of good, used diesels has remained firm and in many cases is UP.If you think about it, someone may be wary about committing £30-40,000 on a new diesel as a fractional change in value could result in several thousand of a difference in value down the line. If someone is paying £10K for a 3 year old car though, they're probably not as concerned and / or are more likely to keep the car longer anyway.
Although i no longer trade, i do have access to some of my old trade auction accounts - clean diesels with history will make over trade book price no problem. Petrol variants attract a lot less interest.
Modern diesels are an absolute liability unless you are doing at least 1 long journey a week (30/40 miles steady 50mph plus) due to the DPF.
I don’t know whether the wheels are about to fall of finance but cars are sticking to showroom floors and there is some huge discounts of the so called premium brands!
I don’t know whether the wheels are about to fall of finance but cars are sticking to showroom floors and there is some huge discounts of the so called premium brands!
HungParlay said:
This is an old thread but if anyone still watches it,
the recent Bristol Diesel Ban vote and people with PCPs on diesels
discuss
(first time poster long time lurker
)
There’s a lot of people in the world who don’t live in Bristol.the recent Bristol Diesel Ban vote and people with PCPs on diesels
discuss
(first time poster long time lurker
)I do wonder how they plan to play it when BRISTOL bus company still has 53 plate diesels with no DPFs chucking out soot all over the city centre, or how they plan to get the police there in their 330D or an ambulance to a sick person in Cabot circus in their Mercedes sprinter?
How about a shop waiting for a engineer to fix their freezer or a electrician to get the power back on?
Deep Thought said:
Thought this was of interest.
Its an advert from a local newspaper that i found here, dated 3rd July 2003 - some 16+ years ago.
Interesting in that all those cars are advertised as a deposit plus monthly payment.
Some would have us believe thats a new thing.
HP has been on the go forever it’s the balloon that skews things for the non financial whizz kids.Its an advert from a local newspaper that i found here, dated 3rd July 2003 - some 16+ years ago.
Interesting in that all those cars are advertised as a deposit plus monthly payment.
Some would have us believe thats a new thing.
I bought my Audi A4 in 1996 and that was on a balanced lease payment scheme, which is deposit, monthlies and a final payment.
I bought an E46 318Ti in 2001 on a PCP from BMW Norwich.
I have not really known a time where finance was not part of car sales, I'm 46.
My old man bought his Merc E320 in 1994 in a similar way he said, he is sure that was deposit, monthlies and balloon. It was £36,000 at the time, we got the keys to our first house on the same day he picked that car up, our mortgage was £36,000 too.
He said there is no way he had £36k lying around.
I bought an E46 318Ti in 2001 on a PCP from BMW Norwich.
I have not really known a time where finance was not part of car sales, I'm 46.
My old man bought his Merc E320 in 1994 in a similar way he said, he is sure that was deposit, monthlies and balloon. It was £36,000 at the time, we got the keys to our first house on the same day he picked that car up, our mortgage was £36,000 too.
He said there is no way he had £36k lying around.
gizlaroc said:
I bought my Audi A4 in 1996 and that was on a balanced lease payment scheme, which is deposit, monthlies and a final payment.
I bought an E46 318Ti in 2001 on a PCP from BMW Norwich.
I have not really known a time where finance was not part of car sales, I'm 46.
My old man bought his Merc E320 in 1994 in a similar way he said, he is sure that was deposit, monthlies and balloon. It was £36,000 at the time, we got the keys to our first house on the same day he picked that car up, our mortgage was £36,000 too.
He said there is no way he had £36k lying around.
And from memory Ford were doing PCP deals from the mid 80s - Choices 123 i think it was called.I bought an E46 318Ti in 2001 on a PCP from BMW Norwich.
I have not really known a time where finance was not part of car sales, I'm 46.
My old man bought his Merc E320 in 1994 in a similar way he said, he is sure that was deposit, monthlies and balloon. It was £36,000 at the time, we got the keys to our first house on the same day he picked that car up, our mortgage was £36,000 too.
He said there is no way he had £36k lying around.
gizlaroc said:
I bought my Audi A4 in 1996 and that was on a balanced lease payment scheme, which is deposit, monthlies and a final payment.
I bought an E46 318Ti in 2001 on a PCP from BMW Norwich.
I have not really known a time where finance was not part of car sales, I'm 46.
My old man bought his Merc E320 in 1994 in a similar way he said, he is sure that was deposit, monthlies and balloon. It was £36,000 at the time, we got the keys to our first house on the same day he picked that car up, our mortgage was £36,000 too.
He said there is no way he had £36k lying around.
You bought a new Audi on a lease aged 23? Shame on you - PH wisdom states that at that age you shoud be driving a 10 year old ripper and enjoy changing the oil / brakes / gearbox in your spare time whilst saving all your spare cash for the deposit on a house.I bought an E46 318Ti in 2001 on a PCP from BMW Norwich.
I have not really known a time where finance was not part of car sales, I'm 46.
My old man bought his Merc E320 in 1994 in a similar way he said, he is sure that was deposit, monthlies and balloon. It was £36,000 at the time, we got the keys to our first house on the same day he picked that car up, our mortgage was £36,000 too.
He said there is no way he had £36k lying around.
I trust that as a consequence of your financial recklessness you are now living in a cardboard box under a bridge ( or maybe out of the back of your latest leased Audi )
Wooda80 said:
You bought a new Audi on a lease aged 23? Shame on you - PH wisdom states that at that age you shoud be driving a 10 year old ripper and enjoy changing the oil / brakes / gearbox in your spare time whilst saving all your spare cash for the deposit on a house.
I trust that as a consequence of your financial recklessness you are now living in a cardboard box under a bridge ( or maybe out of the back of your latest leased Audi )
Probably on an interest only mortgage. I trust that as a consequence of your financial recklessness you are now living in a cardboard box under a bridge ( or maybe out of the back of your latest leased Audi )
Dr Jekyll said:
Am I right in thinking that most of those using PCP are in the kind of jobs that 25 years ago would have included company cars? Despite the impression given on PH the average person on £30K or so simply doesn't consider buying brand new and regards a 3 year old car as verging on extravagance.
Quite possibly. Now that BIK is savage on diesels, opting out for a PCP is often more attractive financially, especially when you can take advantage of incentives etc. I opted out and bought my car; excluding fuel it’s cheaper compared to my previous company car (that includes factoring in servicing etc). If I walk away from it, I’m in exactly the same position as if I’d taken a company car. I.e paid X per month for four years with nothing to show at the end. Difference is I get to drive something I actually want.
Deep Thought said:
gizlaroc said:
I bought my Audi A4 in 1996 and that was on a balanced lease payment scheme, which is deposit, monthlies and a final payment.
I bought an E46 318Ti in 2001 on a PCP from BMW Norwich.
I have not really known a time where finance was not part of car sales, I'm 46.
My old man bought his Merc E320 in 1994 in a similar way he said, he is sure that was deposit, monthlies and balloon. It was £36,000 at the time, we got the keys to our first house on the same day he picked that car up, our mortgage was £36,000 too.
He said there is no way he had £36k lying around.
And from memory Ford were doing PCP deals from the mid 80s - Choices 123 i think it was called.I bought an E46 318Ti in 2001 on a PCP from BMW Norwich.
I have not really known a time where finance was not part of car sales, I'm 46.
My old man bought his Merc E320 in 1994 in a similar way he said, he is sure that was deposit, monthlies and balloon. It was £36,000 at the time, we got the keys to our first house on the same day he picked that car up, our mortgage was £36,000 too.
He said there is no way he had £36k lying around.
Wooda80 said:
You bought a new Audi on a lease aged 23? Shame on you - PH wisdom states that at that age you shoud be driving a 10 year old ripper and enjoy changing the oil / brakes / gearbox in your spare time whilst saving all your spare cash for the deposit on a house.
I trust that as a consequence of your financial recklessness you are now living in a cardboard box under a bridge ( or maybe out of the back of your latest leased Audi )
Haha, thinking back it was actually 1998 when I bought it, it was 3 years old from memory. I trust that as a consequence of your financial recklessness you are now living in a cardboard box under a bridge ( or maybe out of the back of your latest leased Audi )
N189 SPM, cloth seats, no air con, 1.9tdi non red i so a massive 90hp.
In all honesty, if I hadn't wasted so much on cars over the years I could have had a decent pension by now and probably been able to retire at 55, no chance of that now.
Deep Thought said:
Thought this was of interest.
Its an advert from a local newspaper that i found here, dated 3rd July 2003 - some 16+ years ago.
Interesting in that all those cars are advertised as a deposit plus monthly payment.
Some would have us believe thats a new thing.
I assume that was the fire sale as they were going bust.Its an advert from a local newspaper that i found here, dated 3rd July 2003 - some 16+ years ago.
Interesting in that all those cars are advertised as a deposit plus monthly payment.
Some would have us believe thats a new thing.
DJT said:
Deep Thought said:
Thought this was of interest.
Its an advert from a local newspaper that i found here, dated 3rd July 2003 - some 16+ years ago.
Interesting in that all those cars are advertised as a deposit plus monthly payment.
Some would have us believe thats a new thing.
I assume that was the fire sale as they were going bust.Its an advert from a local newspaper that i found here, dated 3rd July 2003 - some 16+ years ago.
Interesting in that all those cars are advertised as a deposit plus monthly payment.
Some would have us believe thats a new thing.
DJT said:
Deep Thought said:
Thought this was of interest.
Its an advert from a local newspaper that i found here, dated 3rd July 2003 - some 16+ years ago.
Interesting in that all those cars are advertised as a deposit plus monthly payment.
Some would have us believe thats a new thing.
I assume that was the fire sale as they were going bust.Its an advert from a local newspaper that i found here, dated 3rd July 2003 - some 16+ years ago.
Interesting in that all those cars are advertised as a deposit plus monthly payment.
Some would have us believe thats a new thing.
The dealer is still going strong and has a big multi franchise site.
Of mild interest, they were offered the Rover franchise back again - or whatever they're called now - and respectfully declined it.
Edited by Deep Thought on Friday 8th November 13:38
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