PCP: How many people actually pay the balloon

[TA14]

Blown2CV said:

DonHorizon said:

Blown2CV said:

surely the only reason people pay the final payment is so they can sell the car privately for more than that figure?

Yes, but what's the issue with just keeping the car?

i think as people have said endlessly on this forum over the years, most people are either new car people or used car people.

That seems daft to me but it may well be true although it needs modifying to 'new' or 'new or used'. I can see that it makes a lot of sense if you cover 100,000 miles or so in the three years but the other extreme would be a former neighbour of mine who only did about 3,000 pa but she still changed every two years - bit like shoes I suppose.

[HumanDoing]

TA14 said:

That seems daft to me but it may well be true although it needs modifying to 'new' or 'new or used'. I can see that it makes a lot of sense if you cover 100,000 miles or so in the three years but the other extreme would be a former neighbour of mine who only did about 3,000 pa but she still changed every two years - bit like shoes I suppose.

I sometimes wonder what goes on in people's heads where they simultaneously think they're buying a fantastic, quality motor worthy of paying the new premium for ... but at the same time it'll make an unmentionable one in its Huggies® the second it hits three years old and immediately need trading in.

[Mandat]

Afternoon HD. I see that you've arrived back in the thread.

How's that list of greatest hits coming along, that your promised to post up?

[InitialDave]

HumanDoing said:

I sometimes wonder what goes on in people's heads where they simultaneously think they're buying a fantastic, quality motor worthy of paying the new premium for ... but at the same time it'll make an unmentionable one in its Huggies® the second it hits three years old and immediately need trading in.

Well, there's a track record of certain cars like M5s being fantastic cars to own, but very capable of throwing repeated large bills at you, and while you can get further warranty cover to continue making that someone else's problem down the line, you could also put that warranty money toward the payments on a new one. Depends how you want to play it.

[HumanDoing]

InitialDave said:

Well, there's a track record of certain cars like M5s being fantastic cars to own, but very capable of throwing repeated large bills at you, and while you can get further warranty cover to continue making that someone else's problem down the line, you could also put that warranty money toward the payments on a new one. Depends how you want to play it.

Fair point Dave.

[Narcisus]

Blown2CV said:

surely the only reason people pay the final payment is so they can sell the car privately for more than that figure?

My Superb will be 3 next year and I will have the balloon to pay. It will still have 2 years of Warranty left but it will stay with us until its uneconomical to keep.

[SWoll]

DonHorizon said:

Blown2CV said:

surely the only reason people pay the final payment is so they can sell the car privately for more than that figure?

Yes, but what's the issue with just keeping the car?

As above, because if like me people have got no interest in owning a daily car. Happy to just rent it for a fixed cost over a fixed term with absolutely no worries and then swap in 2-3 years to something different. Just another monthly bill to pay for something that proves a service along with the rest.

Cars in the most part depreciate horribly, throw up expensive and unexepected bills and are generally a pain in the arse to own at 3-6 years old IME. Sod that, I'll just pay a few quid a month (about 5% of net income) and not worry about any of it.

I appreciate that this won't be the case for everyone but TBH I'm bored of people on the internet suggesting it's always a bad idea for a a multitude of assumed reasons.

Edited by SWoll on Friday 27th October 13:50

[djc206]

InitialDave said:

HumanDoing said:

I sometimes wonder what goes on in people's heads where they simultaneously think they're buying a fantastic, quality motor worthy of paying the new premium for ... but at the same time it'll make an unmentionable one in its Huggies® the second it hits three years old and immediately need trading in.

Well, there's a track record of certain cars like M5s being fantastic cars to own, but very capable of throwing repeated large bills at you, and while you can get further warranty cover to continue making that someone else's problem down the line, you could also put that warranty money toward the payments on a new one. Depends how you want to play it.

Yep. My RS4 ate its gearbox at 2 years old, a fairly common problem with them. I wouldn’t risk owning one without a warranty as the work was estimated at £14k! Of course an insured warranty would be one way to go at about £1k per year but it goes to show modern performance cars can produce absolutely horrendous bills occasionally.

[SWoll]

djc206 said:

InitialDave said:

HumanDoing said:

I sometimes wonder what goes on in people's heads where they simultaneously think they're buying a fantastic, quality motor worthy of paying the new premium for ... but at the same time it'll make an unmentionable one in its Huggies® the second it hits three years old and immediately need trading in.

Well, there's a track record of certain cars like M5s being fantastic cars to own, but very capable of throwing repeated large bills at you, and while you can get further warranty cover to continue making that someone else's problem down the line, you could also put that warranty money toward the payments on a new one. Depends how you want to play it.

Yep. My RS4 ate its gearbox at 2 years old, a fairly common problem with them. I wouldn’t risk owning one without a warranty as the work was estimated at £14k! Of course an insured warranty would be one way to go at about £1k per year but it goes to show modern performance cars can produce absolutely horrendous bills occasionally.

Modern cars in general, not just the performance variety.

I've had 3 or 4 cars over the years that threw up horrible bills between 3 and 5 years old. Knackered auto box, electrical fault that required the entire engine harness replacing after multiple attempts to fix, faulty injectors causing a misfire that knackered the Catalytic converters, Knackered DPF on a car with 20k miles.

Not worth having to deal with that kind of thing in order to hopefully save a few £.

I also don't have the hassle of MOT's, road tax, extended warranties and good will payments, new brakes, high mileage service costs or having to sell/PX the thing once I fancy a change.

Edited by SWoll on Friday 27th October 14:02

[anonymous-user]

SWoll said:

Modern cars in general, not just the performance variety.

I've had 3 or 4 cars over the years that threw up horrible bills between 3 and 5 years old. Knackered auto box, electrical fault that required the entire engine harness replacing after multiple attempts to fix, faulty injectors causing a misfire that knackered the Catalytic converters, Knackered DPF on a car with 20k miles.

Not worth having to deal with that kind of thing in order to hopefully save a few £.

Somebody will be along soon to tell you if you cant fix it yourself on your driveway with two spanners and a swiss army knife and your favourite set of oily overalls on then you're not a real PHer

[SWoll]

RSK21 said:

SWoll said:

Modern cars in general, not just the performance variety.

I've had 3 or 4 cars over the years that threw up horrible bills between 3 and 5 years old. Knackered auto box, electrical fault that required the entire engine harness replacing after multiple attempts to fix, faulty injectors causing a misfire that knackered the Catalytic converters, Knackered DPF on a car with 20k miles.

Not worth having to deal with that kind of thing in order to hopefully save a few £.

Somebody will be along soon to tell you if you cant fix it yourself on your driveway with two spanners and a swiss army knife and your favourite set of oily overalls on then you're not a real PHer

I know.

Happy to work on a weekend car and enjoy getting my hands dirty, but for a daily no chance. Needs to do it's job without fuss and I'm happy.