BMW M2 Accident
Discussion
PaulD86 said:
tannhauser said:
Exactly - precisely how the great unwashed are able to access things they shouldn't be able to. The sooner PCP and leasing dies a death - and cars like these once more become the preserve of those who can actually afford them - the better.
Absolutely. Same with property. The sooner we get rid of mortgages so people can't have access to things they can't afford the better. Then those who can't afford to buy their house outright can go back to paying a monthly payment to rent one.... oh wait....SturdyHSV said:
You know what they say, you can sleep in a car, but you can't oversteer a house into a roundabout in front of a crowd of young boys with camera phones and partial erections.
And yes, even if you were only part time at McDonald's and earned £13,000 a year, that gives you £1,018 a month after tax.
£600 / mo financing your M2
£300/month to be named driver on the insurance
£100 / mo for your IphoneX
And an unlimited number of #viplifestyle tags on your various social media pages.
Lets be honest, this kind of PCP deal is for the aspiring sales/finance type who earns £25,000 a year but still lives at home at age 28. He might pay maybe £3-400 board, so he'll spend the remainder on one weekend out and complain to his cow-orkers that he's got no money.And yes, even if you were only part time at McDonald's and earned £13,000 a year, that gives you £1,018 a month after tax.
£600 / mo financing your M2
£300/month to be named driver on the insurance
£100 / mo for your IphoneX
And an unlimited number of #viplifestyle tags on your various social media pages.
Edited by SturdyHSV on Monday 23 April 12:47
Mr McWage is spending it on a riced out Clio.
tannhauser said:
Cars (or rather, expensive new shiny-shiny) are non-essentials, therefore why should it be easy for your average Joe to access a 50k motor? Houses are essential - though if the government weren't so lax at lending out so much money, houses would be cheaper. There's a lot to be said for a long-overdue tightening of mortgage lending.
I was being facetious. Personally my view is that lending on items is fine with the proviso that it is done in such a way that negative equity is not possible excepting extreme unforeseen circumstances. If you want to have finance on a car that's fine, but you should always be in the position that selling it would cover what you owe and a bit more. Mortgage lending has been massively tightened over the past few years. In many ways for the better, however I have also seen people unable to switch to cheaper mortgage deals as they fail new criteria when they have been paying a mortgage at their current level for 15 plus years. So nothing is without it's repercussions.
tannhauser said:
why should it be easy for your average Joe to access a 50k motor?
It's Joe's money to spend as he wants and it's the manufacturer's decision to offer the deals because it makes them lots of money in shiny new car sales. If it's a concern you can of course just buy a 200k motor so that Joe is still aware you're better than him
You'd really get upset in America, over there all sorts of non director level peasants can afford multiple desirable cars because of all the freedom and bald eagles
captain_cynic said:
Lets be honest, this kind of PCP deal is for the aspiring sales/finance type who earns £25,000 a year but still lives at home at age 28. He might pay maybe £3-400 board, so he'll spend the remainder on one weekend out and complain to his cow-orkers that he's got no money.
Mr McWage is spending it on a riced out Clio.
Oh I know it's more for the Instagram profiles of thrusting junior execs, I just found it more entertaining for such an apparently desirable symbol of life success to be attainable with your first paycheque as a McMeat flipper Mr McWage is spending it on a riced out Clio.
SturdyHSV said:
tannhauser said:
why should it be easy for your average Joe to access a 50k motor?
It's Joe's money to spend as he wants and it's the manufacturer's decision to offer the deals because it makes them lots of money in shiny new car sales. If it's a concern you can of course just buy a 200k motor so that Joe is still aware you're better than him
tannhauser said:
But it IS NOT average Joe's money to spend! And who finances the finance houses? (i.e. what were car manufacturers, but that is merely a sideline nowadays!)
If it's a lease or PCP yes it is. He's paying to borrow the car, exactly as if he decided not to have his own car but spend his wages on taxi fares.The whole argument is b
kss
You can mortgage your house if they have equity in it and spend it on whatever you choose.
On a considerably less APR then pcp.
And as posted Above, A guy on £12,000 a year can have more disposable income then a company director on very good money with a big mortgage, 2 cars on finance and a family with kids in private school
kssYou can mortgage your house if they have equity in it and spend it on whatever you choose.
On a considerably less APR then pcp.
And as posted Above, A guy on £12,000 a year can have more disposable income then a company director on very good money with a big mortgage, 2 cars on finance and a family with kids in private school
Edited by Jdjd1 on Monday 23 April 15:59
SturdyHSV said:
Oh I know it's more for the Instagram profiles of thrusting junior execs, I just found it more entertaining for such an apparently desirable symbol of life success to be attainable with your first paycheque as a McMeat flipper
The most ancient and abused Cat N/S M3's are coming into the McPriceRange.Just be glad the UK doesn't have the glut of Nissan Skyline GTST's that Australia had... and Insurance is optional over there (From your username, I'm guessing you know).
tannhauser said:
Gad-Westy said:
tannhauser said:
Couldn't resist.... Knew I was being played. But it's a very real point!
Why the link between car finance and crashing? captain_cynic said:
SturdyHSV said:
Oh I know it's more for the Instagram profiles of thrusting junior execs, I just found it more entertaining for such an apparently desirable symbol of life success to be attainable with your first paycheque as a McMeat flipper
The most ancient and abused Cat N/S M3's are coming into the McPriceRange.Just be glad the UK doesn't have the glut of Nissan Skyline GTST's that Australia had... and Insurance is optional over there (From your username, I'm guessing you know).
Not sure why many are against financing cars, say you earn 18k + and you want a nice car, you ca afford the monthly payments on a 2 year deal, will probably need 2 tyres over the 2 years given it’s on 8k pa, it will need a service once so not much running costs bar fuel/insurance.
What gives someone the right to say they can’t have one or shouldn’t? I’m 24 and I don’t know one single person who has a mortgage without the help of their parents, usually a massive lump of money for the deposit yet most people over 50 have been homeowners for years, probably back when they were 20, my dad at 30 but a lot of my friends parents a lot younger.
My point is, it’s a lot harder to buy a house now as a young person unless it’s a new build on landfil made of crumbs. However it’s a lot easier to buy......can someone finish my point here?
What gives someone the right to say they can’t have one or shouldn’t? I’m 24 and I don’t know one single person who has a mortgage without the help of their parents, usually a massive lump of money for the deposit yet most people over 50 have been homeowners for years, probably back when they were 20, my dad at 30 but a lot of my friends parents a lot younger.
My point is, it’s a lot harder to buy a house now as a young person unless it’s a new build on landfil made of crumbs. However it’s a lot easier to buy......can someone finish my point here?
daemon said:
tannhauser said:
Gad-Westy said:
tannhauser said:
Couldn't resist.... Knew I was being played. But it's a very real point!
Why the link between car finance and crashing? tannhauser said:
Gad-Westy said:
tannhauser said:
Couldn't resist.... Knew I was being played. But it's a very real point!
Why the link between car finance and crashing? Unless those of deeper wallet are spending it big on extra driving tuition. I doubt it but you never know.
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