Why the PH hatred for PCP?
Discussion
roadsmash said:
Joey Deacon said:
If you had £10k in a Marcus account at 1.5 over 48 months you would have £10,617.97 after 4 years
If you borrow £10k from Asda at 2.8% over 48 months you pay back a total of £10,574.40 after 4 years
So given this example would it not be better to get the car on finance and keep the cash in the bank for a rainy day?
Gordon? Jim? Where are you? If you borrow £10k from Asda at 2.8% over 48 months you pay back a total of £10,574.40 after 4 years
So given this example would it not be better to get the car on finance and keep the cash in the bank for a rainy day?
Would you argue against this totally reasonable decision?
TheStigsWeeBrother said:
roadsmash said:
Joey Deacon said:
If you had £10k in a Marcus account at 1.5 over 48 months you would have £10,617.97 after 4 years
If you borrow £10k from Asda at 2.8% over 48 months you pay back a total of £10,574.40 after 4 years
So given this example would it not be better to get the car on finance and keep the cash in the bank for a rainy day?
Gordon? Jim? Where are you? If you borrow £10k from Asda at 2.8% over 48 months you pay back a total of £10,574.40 after 4 years
So given this example would it not be better to get the car on finance and keep the cash in the bank for a rainy day?
Would you argue against this totally reasonable decision?
Quite simple?
roadsmash said:
TheStigsWeeBrother said:
roadsmash said:
Joey Deacon said:
If you had £10k in a Marcus account at 1.5 over 48 months you would have £10,617.97 after 4 years
If you borrow £10k from Asda at 2.8% over 48 months you pay back a total of £10,574.40 after 4 years
So given this example would it not be better to get the car on finance and keep the cash in the bank for a rainy day?
Gordon? Jim? Where are you? If you borrow £10k from Asda at 2.8% over 48 months you pay back a total of £10,574.40 after 4 years
So given this example would it not be better to get the car on finance and keep the cash in the bank for a rainy day?
Would you argue against this totally reasonable decision?
Quite simple?
TheStigsWeeBrother said:
roadsmash said:
TheStigsWeeBrother said:
roadsmash said:
Joey Deacon said:
If you had £10k in a Marcus account at 1.5 over 48 months you would have £10,617.97 after 4 years
If you borrow £10k from Asda at 2.8% over 48 months you pay back a total of £10,574.40 after 4 years
So given this example would it not be better to get the car on finance and keep the cash in the bank for a rainy day?
Gordon? Jim? Where are you? If you borrow £10k from Asda at 2.8% over 48 months you pay back a total of £10,574.40 after 4 years
So given this example would it not be better to get the car on finance and keep the cash in the bank for a rainy day?
Would you argue against this totally reasonable decision?
Quite simple?
Swap Asda for roadsmash finance.
It’s the same result.
roadsmash said:
TheStigsWeeBrother said:
roadsmash said:
TheStigsWeeBrother said:
roadsmash said:
Joey Deacon said:
If you had £10k in a Marcus account at 1.5 over 48 months you would have £10,617.97 after 4 years
If you borrow £10k from Asda at 2.8% over 48 months you pay back a total of £10,574.40 after 4 years
So given this example would it not be better to get the car on finance and keep the cash in the bank for a rainy day?
Gordon? Jim? Where are you? If you borrow £10k from Asda at 2.8% over 48 months you pay back a total of £10,574.40 after 4 years
So given this example would it not be better to get the car on finance and keep the cash in the bank for a rainy day?
Would you argue against this totally reasonable decision?
Quite simple?
Swap Asda for roadsmash finance.
It’s the same result.
TheStigsWeeBrother said:
roadsmash said:
Joey Deacon said:
If you had £10k in a Marcus account at 1.5 over 48 months you would have £10,617.97 after 4 years
If you borrow £10k from Asda at 2.8% over 48 months you pay back a total of £10,574.40 after 4 years
So given this example would it not be better to get the car on finance and keep the cash in the bank for a rainy day?
Gordon? Jim? Where are you? If you borrow £10k from Asda at 2.8% over 48 months you pay back a total of £10,574.40 after 4 years
So given this example would it not be better to get the car on finance and keep the cash in the bank for a rainy day?
Would you argue against this totally reasonable decision?
TheStigsWeeBrother said:
roadsmash said:
TheStigsWeeBrother said:
roadsmash said:
TheStigsWeeBrother said:
roadsmash said:
Joey Deacon said:
If you had £10k in a Marcus account at 1.5 over 48 months you would have £10,617.97 after 4 years
If you borrow £10k from Asda at 2.8% over 48 months you pay back a total of £10,574.40 after 4 years
So given this example would it not be better to get the car on finance and keep the cash in the bank for a rainy day?
Gordon? Jim? Where are you? If you borrow £10k from Asda at 2.8% over 48 months you pay back a total of £10,574.40 after 4 years
So given this example would it not be better to get the car on finance and keep the cash in the bank for a rainy day?
Would you argue against this totally reasonable decision?
Quite simple?
Swap Asda for roadsmash finance.
It’s the same result.
TheStigsWeeBrother said:
roadsmash said:
Regardless... The thread has moved on from just PCP and has grown into “anyone financing a car by any means necessary is wrong.” Not just PCP.
It’s very easy to get a £10k loan at 2.8%.
Who said “anyone financing a car by any means is wrong”?It’s very easy to get a £10k loan at 2.8%.
roadsmash said:
TheStigsWeeBrother said:
roadsmash said:
Regardless... The thread has moved on from just PCP and has grown into “anyone financing a car by any means necessary is wrong.” Not just PCP.
It’s very easy to get a £10k loan at 2.8%.
Who said “anyone financing a car by any means is wrong”?It’s very easy to get a £10k loan at 2.8%.
One other bloke on here said it best - he realised he's getting up in the morning to drive to work to get money to pay for the thing he uses to drive to work.
Who is going to be on their dead bed going 'well at least I paid the finance company guy's mortgage?' It really is as simple as that. I have a degree of respect for people who just say 'you only live once' and admit they are widdling their money away, but not people who claim to be financial geniuses for taking out PCP that exists solely to rip them off and enrich car companies.
Any comedian getting a PCP every 3 years needs to take that £10,000 at 20 and invest it in low cost index funds - do this for 25 years and they'll have about £40k which will be enough to walk in to any dealership and buy a good car. Live within your means or spend your life working for stuff you can't afford to pretend to be Charlie Large Potatoes, it really is up to you.
Who is going to be on their dead bed going 'well at least I paid the finance company guy's mortgage?' It really is as simple as that. I have a degree of respect for people who just say 'you only live once' and admit they are widdling their money away, but not people who claim to be financial geniuses for taking out PCP that exists solely to rip them off and enrich car companies.
Any comedian getting a PCP every 3 years needs to take that £10,000 at 20 and invest it in low cost index funds - do this for 25 years and they'll have about £40k which will be enough to walk in to any dealership and buy a good car. Live within your means or spend your life working for stuff you can't afford to pretend to be Charlie Large Potatoes, it really is up to you.
Gordon_Roslin said:
One other bloke on here said it best - he realised he's getting up in the morning to drive to work to get money to pay for the thing he uses to drive to work.
Maybe that would hold true for your salary, but the last PCP deal we had amounted to 5% of our monthly net income.Gordon_Roslin said:
Who is going to be on their dead bed going 'well at least I paid the finance company guy's mortgage?' It really is as simple as that. I have a degree of respect for people who just say 'you only live once' and admit they are widdling their money away, but not people who claim to be financial geniuses for taking out PCP that exists solely to rip them off and enrich car companies.
Everything you buy is "paying someone elses mortgage" - thats how life works. Do you not buy groceries as you're "paying the supermarket owners mortgage"?You seem to have this binary view that someone with a PCP deal is spending every last penny of their money on a car. This is generally not the case.
People - myself included - find a balance point by enjoying ourselves but not to the extend of not being able to save or plan for the future.
Gordon_Roslin said:
Any comedian getting a PCP every 3 years needs to take that £10,000 at 20 and invest it in low cost index funds - do this for 25 years and they'll have about £40k which will be enough to walk in to any dealership and buy a good car. Live within your means or spend your life working for stuff you can't afford to pretend to be Charlie Large Potatoes, it really is up to you.
In 25 years time when you factor in inflation your £40K will buy you some entry level Fiesta if you're lucky. 
And what do you do in the meantime? Walk? Tell people you're saving up and thumb lifts? Hope to not die in the meantime?
Gordon will be the richest guy in the cemetery, no cars on PCP though, what a legend, I reckon they’ll stick that in his obituary for sure 
Save for 25 years to spend £40k on a car, cash, that’s his legit advice, what a plonker
This thread is like UPS, just keeps on delivering the goods.
Save for 25 years to spend £40k on a car, cash, that’s his legit advice, what a plonker
This thread is like UPS, just keeps on delivering the goods.
Edited by Butter Face on Thursday 17th January 21:18
Butter Face said:
Gordon will be the richest guy in the cemetery, no cars on PCP though, what a legend, I reckon they’ll stick that in his obituary for sure
Save for 25 years to spend £40k on a car, cash, that’s his legit advice, what a plonker
This thread is like UPS, just keeps on delivering the goods.
I honestly believe that Gordon’s 25 year financial plan is one of the funniest I’ve ever heard in years. Save for 25 years to spend £40k on a car, cash, that’s his legit advice, what a plonker
This thread is like UPS, just keeps on delivering the goods.
Edited by Butter Face on Thursday 17th January 21:18
Who needs a 5yr Hire Purchase or loan when you can just wait 25 years to buy the car cash?!
Epic epic thread.
Gordon_Roslin said:
One other bloke on here said it best - he realised he's getting up in the morning to drive to work to get money to pay for the thing he uses to drive to work.
Who is going to be on their dead bed going 'well at least I paid the finance company guy's mortgage?' It really is as simple as that. I have a degree of respect for people who just say 'you only live once' and admit they are widdling their money away, but not people who claim to be financial geniuses for taking out PCP that exists solely to rip them off and enrich car companies.
Any comedian getting a PCP every 3 years needs to take that £10,000 at 20 and invest it in low cost index funds - do this for 25 years and they'll have about £40k which will be enough to walk in to any dealership and buy a good car. Live within your means or spend your life working for stuff you can't afford to pretend to be Charlie Large Potatoes, it really is up to you.
25 years? Jesus.Who is going to be on their dead bed going 'well at least I paid the finance company guy's mortgage?' It really is as simple as that. I have a degree of respect for people who just say 'you only live once' and admit they are widdling their money away, but not people who claim to be financial geniuses for taking out PCP that exists solely to rip them off and enrich car companies.
Any comedian getting a PCP every 3 years needs to take that £10,000 at 20 and invest it in low cost index funds - do this for 25 years and they'll have about £40k which will be enough to walk in to any dealership and buy a good car. Live within your means or spend your life working for stuff you can't afford to pretend to be Charlie Large Potatoes, it really is up to you.
I've got a question for you:
I'm considering selling my Ferrari and PCPing an E class.
Can I afford this Mercedes?
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