"Monthly from"... surprise
Discussion
Bennyjames28 said:
If your buying a brand new car I don't see any reason to and pay full price in cash if you have the disposal monthly income to comfortably afford the payments.
Only way I disagree with the above is if you intend on keeping the car for say 10 or more years and putting say 10k a year on it.
If your buying an older car that's already had its main depreciation hit I would rather you paid cash than a high interest monthly payment.
I am also a big advocate of planning for the future, so before I even thought about a new car I would want 6 to 12 months of living expenses tucked away in a saving account. Emergency fund comes before having a new car on drive, like someone said a lot of people have all the flash stuff but really are a few missed paydays from losing it all.
Benny I had always assumed that everybody lived the way you live at least they did when I was growing up . ! Recently I realize they dont !Only way I disagree with the above is if you intend on keeping the car for say 10 or more years and putting say 10k a year on it.
If your buying an older car that's already had its main depreciation hit I would rather you paid cash than a high interest monthly payment.
I am also a big advocate of planning for the future, so before I even thought about a new car I would want 6 to 12 months of living expenses tucked away in a saving account. Emergency fund comes before having a new car on drive, like someone said a lot of people have all the flash stuff but really are a few missed paydays from losing it all.
Personal contract plans are good for people with the disposable income but most dont have the money each month !
People with no money pretending to be the big man is quite amusing really
Brooking10 said:
Every f
king day there is yet another finance thread
What the fk is wrong with you people ?
This is a car forum, about cars not about personal finances
The sheer volume of small minded pricks trotting out tired cliches and Daily Mail esque “breadline” comments desperate to show they are somehow “better” than others is getting behind a joke.
Funnily enough that's what you get on the finance thread. Don't like it? Then don't read it.king day there is yet another finance threadWhat the f
k is wrong with you people ?This is a car forum, about cars not about personal finances
The sheer volume of small minded pricks trotting out tired cliches and Daily Mail esque “breadline” comments desperate to show they are somehow “better” than others is getting behind a joke.
Edited by anonymous-user on Tuesday 21st August 08:36
keirik said:
Brooking10 said:
Every fking day there is yet another finance thread
What the fk is wrong with you people ?
This is a car forum, about cars not about personal finances
The sheer volume of small minded pricks trotting out tired cliches and Daily Mail esque “breadline” comments desperate to show they are somehow “better” than others is getting behind a joke.
Funnily enough that's what you get on the finance thread. Don't like it? Then don't read it.king day there is yet another finance threadWhat the f
k is wrong with you people ?This is a car forum, about cars not about personal finances
The sheer volume of small minded pricks trotting out tired cliches and Daily Mail esque “breadline” comments desperate to show they are somehow “better” than others is getting behind a joke.
Edited by anonymous-user on Tuesday 21st August 08:36
The frustration comes because they crop up so regularly, say the same things and almost always start in General Gassing, just as this one did and was when I posted my tantrum.
I’d hazard a guess that finance threads are amongst the most frequent subjects posted in that Lounge which is supposedly the epicentre of an enthusiasists’ motoring forum.
Hub said:
Ah, great - back to the old days (L, GL, Ghia etc!)
Anyway, in terms of the last bit of the OP - I hope not! I dislike how everything in life is moving to a subscription model.
This is where I'm at, the premise of ownership even if a distant one (PCP,HP) is what makes it special.Anyway, in terms of the last bit of the OP - I hope not! I dislike how everything in life is moving to a subscription model.
Lease or even as far as Volvo go subscription, with a what looks like limited perceived ability to individualise from the manufacture, would likely take any emotion out of owning a brand new car. Something I find sad.
If it ended up all the way to subscription, would there be a market of cheap end of subscription cars and the resurgence of max power and stick on bits?
I do like the idea of Bosozoku for that very reason. I'm just trying to imagine a UK high-street or car-park playing host to a Tiguan SE painted in a garish colour, adorned with fairy lights, ridiculous exhausts etc.
Evolved said:
It isn’t just cars, it’s pretty much every consumable item nowadays. People live their lives on the never, never. So long as they cover the monthly payments, all is good and they give the impression that they’re doing well in life.
Not that long ago people got TVs, even Radios, on the never never. Remember Radio Rentals?keirik said:
So how does all this leasing work if youve decided to retire early and are just living on your savings, investments and pension draw down?
I guess it doesn't since income isnt regular, just taken as required?
Asking for a friend ;-)
You make the lease payments from the lump sum in your bank account that would otherwise have been used to buy the car for cash, and which is meanwhile earning interest.I guess it doesn't since income isnt regular, just taken as required?
Asking for a friend ;-)
Dr Jekyll said:
Evolved said:
It isn’t just cars, it’s pretty much every consumable item nowadays. People live their lives on the never, never. So long as they cover the monthly payments, all is good and they give the impression that they’re doing well in life.
Not that long ago people got TVs, even Radios, on the never never. Remember Radio Rentals?Evolved said:
That still goes on, it’s just extended to other areas of people’s lives now. Mobiles, cars, TV’s, Sofa’s, houses. So long as people think you’re succeeding...
Utter b
ksYou bought your house for cash in order to avoid people thinking you were trying to convince them you had more capital than you could lay your hands on ?
Edited by anonymous-user on Tuesday 21st August 22:38
Dr Jekyll said:
kapiteinlangzaam said:
Also zero issues or stress when handing back.
Arguably there is the hassle of having to get another car. But I appreciate that if you intend to change cars every few years anyway this applies either way.Having bought a couple of "expensive to maintain" second hand cars in succession, I produced a detailed spreadsheet and worked out leasing was definitely for me. I don't ever have to pay for car tax, tyres or brakes.
E.g. I bought a 6 year old Volvo C70 convertible, ran it for two years, lost 4k in depreciation and spent over 2k in repairs and maintenance (new clutch, new steering rack, suspension bits and tyres). Had a similar experience with a Corolla Compressor. Worked out cheaper to lease a brand new Fiesta ST2, so I did and have leased ever since. Some really good deals out there if you do your homework.
Sorry for going slightly off topic
jamei303 said:
keirik said:
So how does all this leasing work if youve decided to retire early and are just living on your savings, investments and pension draw down?
I guess it doesn't since income isnt regular, just taken as required?
Asking for a friend ;-)
You make the lease payments from the lump sum in your bank account that would otherwise have been used to buy the car for cash, and which is meanwhile earning interest.I guess it doesn't since income isnt regular, just taken as required?
Asking for a friend ;-)
So I’ve got £30,000 to spend on a car.
Option 1: Buy a car for £30,000.
After 3 years it is worth about £18,000. I’ve now only got something worth £18,000
Option 2: Use the £30,000 as the deposit and costs for a BTL property investment of around £100-110k yielding 6% gross. I can do this and receive around £300-50 net per month after all costs such as mortgage, management fees etc. Yes there are risks of void periods etc. This option is about taking those risks.
Use £250-300 per month to Lease a car for 3 years. Likely list value of the car is £25-£30,000
After 3 years the car is returned. I still have the house which I now rent out again. There is the possibility of capital loss in the house but I don’t need to realise that by selling it. Over the long term there is the likelihood of capital gain.
Easy innit? Well not that easy but entirely possible.
I think this conversation go on until the end of time.
For me, personally, id rather have a new car every few years, no MOT, no repair bills, tax included in the monthly price and zero stress.
I know that doesn't suit everyone, and that's great, but to suggest that absolutely everyone who leases is just trying to give off that they are better off than they are is just a joke, and the joke is on the people who say these things. Sure it might be the case for some people but not all, myself included.
And you know what, what business it is of yours exactly? Personally I think you're a bit of a mug if you spash out a substantial amount of capital on a (usually) depreciating asset, but that's my opinion and you wont see me berating you about it, but in this instance I think it's my right of reply.
Do whatever makes you happy, so what if people want to be seen to be doing well? I know I did it when I was younger and it spurred me on do better in life.
For me, personally, id rather have a new car every few years, no MOT, no repair bills, tax included in the monthly price and zero stress.
I know that doesn't suit everyone, and that's great, but to suggest that absolutely everyone who leases is just trying to give off that they are better off than they are is just a joke, and the joke is on the people who say these things. Sure it might be the case for some people but not all, myself included.
And you know what, what business it is of yours exactly? Personally I think you're a bit of a mug if you spash out a substantial amount of capital on a (usually) depreciating asset, but that's my opinion and you wont see me berating you about it, but in this instance I think it's my right of reply.
Do whatever makes you happy, so what if people want to be seen to be doing well? I know I did it when I was younger and it spurred me on do better in life.
Edited by manracer on Saturday 25th August 13:27
manracer said:
I think this conversation go on until the end of time.
For me, personally, id rather have a new car every few years, no MOT, no repair bills, tax included in the monthly price and zero stress.
I know that doesn't suit everyone, and that's great, but suggest everyone who leases is just trying to give off that they are better off than they are is just a joke, and the joke is on the people who say these things. Sure it might be the case for some people but not all, myself included.
And you know what, what business it is of yours exactly? Personally I think you're a bit of a mug if you spash out a substantial amount of capital on a (usually) depreciating asset, but that's my opinion and you wont see me berating you about it, but in this instance I think it's my right of reply.
Do whatever makes you happy, so what if your people want to be seen to be doing well? I know I did it when I was younger and it spurred me on do better in life.
It isn't a question of rather anyone would rather have 'zero stress'. it's whether having a few hundred pounds going out of your bank account every single month and calculating how many miles you can do before excess charges kick in is really less stressful than the occasional repair bill. What on earth the car being a depreciating asset has to do with it I can't see, especially since serial leasing means getting a fresh brand new car just when depreciation is starting to level off.For me, personally, id rather have a new car every few years, no MOT, no repair bills, tax included in the monthly price and zero stress.
I know that doesn't suit everyone, and that's great, but suggest everyone who leases is just trying to give off that they are better off than they are is just a joke, and the joke is on the people who say these things. Sure it might be the case for some people but not all, myself included.
And you know what, what business it is of yours exactly? Personally I think you're a bit of a mug if you spash out a substantial amount of capital on a (usually) depreciating asset, but that's my opinion and you wont see me berating you about it, but in this instance I think it's my right of reply.
Do whatever makes you happy, so what if your people want to be seen to be doing well? I know I did it when I was younger and it spurred me on do better in life.
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