Why the PH hatred for PCP?
Discussion
“not always” LOL.roadsmash said:
Eugh we are going round in circles.
PCP/leasing/finance is NOT always king.
On this particular £10k example, it’s much of a muchness, HOWEVER you are not factoring mileage and depreciation in your decision.
You could easily tie up that £10k into a car then put 30,000 miles on it in a year and your investment has significantly dropped in a year.
Whereas if you had spread it over a longer term you get to keep your cash in the bank/use it on a better investment and use your monthly income to fund the purchase.
As I’ve demonstrated in the below thread, cash CAN be king, but as we have said here, it DEPENDS ON THE CIRCUMSTANCES.
https://www.pistonheads.com/gassing/topic.asp?h=0&...
To summarise the finance scenario as laid out by our PH dream-makers:PCP/leasing/finance is NOT always king.
On this particular £10k example, it’s much of a muchness, HOWEVER you are not factoring mileage and depreciation in your decision.
You could easily tie up that £10k into a car then put 30,000 miles on it in a year and your investment has significantly dropped in a year.
Whereas if you had spread it over a longer term you get to keep your cash in the bank/use it on a better investment and use your monthly income to fund the purchase.
As I’ve demonstrated in the below thread, cash CAN be king, but as we have said here, it DEPENDS ON THE CIRCUMSTANCES.
https://www.pistonheads.com/gassing/topic.asp?h=0&...
"Look it's easy, just use a Marcus account and take out a loan, you'll MAKE money, might be a small amount, but it's WORTHIT"
"Your figures are wrong, you'll lose money, infact you'll make more money over the term by paying cash outright"
"Pah, Marcus accounts are rubbish anyway and the amount you make is pathetic"
I think that about wraps it up.
jimPH said:
To summarise the finance scenario as laid out by our PH dream-makers:
"Look it's easy, just use a Marcus account and take out a loan, you'll MAKE money, might be a small amount, but it's WORTHIT"
"Your figures are wrong, you'll lose money, infact you'll make more money over the term by paying cash outright"
"Pah, Marcus accounts are rubbish anyway and the amount you make is pathetic"
I think that about wraps it up.
Cathy Newman, is that you?"Look it's easy, just use a Marcus account and take out a loan, you'll MAKE money, might be a small amount, but it's WORTHIT"
"Your figures are wrong, you'll lose money, infact you'll make more money over the term by paying cash outright"
"Pah, Marcus accounts are rubbish anyway and the amount you make is pathetic"
I think that about wraps it up.
Just to add, mileage and depreciation is the same for a person using a loan as it is cash, not unlike you to massage the scenario to suit your narrative though.
Also, remember, the cash buyer can use the same investment vehicle, the only difference being, one saves their payments, the other save's their capital, but the saved payments will always be more. This is why, 99% of the time, cash is king, you seem to forget this very important detail over the term
Also, remember, the cash buyer can use the same investment vehicle, the only difference being, one saves their payments, the other save's their capital, but the saved payments will always be more. This is why, 99% of the time, cash is king, you seem to forget this very important detail over the term
jimPH said:
To summarise the finance scenario as laid out by our PH dream-makers:
"Look it's easy, just use a Marcus account and take out a loan, you'll MAKE money, might be a small amount, but it's WORTHIT"
"Your figures are wrong, you'll lose money, infact you'll make more money over the term by paying cash outright"
"Pah, Marcus accounts are rubbish anyway and the amount you make is pathetic"
I think that about wraps it up.
As opposed to "Look it's easy, just use a Marcus account and take out a loan, you'll MAKE money, might be a small amount, but it's WORTHIT"
"Your figures are wrong, you'll lose money, infact you'll make more money over the term by paying cash outright"
"Pah, Marcus accounts are rubbish anyway and the amount you make is pathetic"
I think that about wraps it up.
"If you take out a cheap loan you can keep your capital safe for a rainy day and make a little bit on it too."
"HAHAHAHAHA Your figures are WRONG. By finding a TINY FLAW I have NULLIFIED YOUR ENTIRE ARGUMENT and in fact your VERY EXISTENCE"
"Oh, ok, theres a slight loss instead, but theres still merit in keeping the capital available and dont forget theres other savings accounts that might make more"
jimPH said:
To summarise the finance scenario as laid out by our PH dream-makers:
"Look it's easy, just use a Marcus account and take out a loan, you'll MAKE money, might be a small amount, but it's WORTHIT"
"Your figures are wrong, you'll lose money, infact you'll make more money over the term by paying cash outright"
"Pah, Marcus accounts are rubbish anyway and the amount you make is pathetic"
I think that about wraps it up.
Whether that’s true or not Jim that’s hardly the position of every poster who has said they can understand the benefits of PCP depending on one’s situation."Look it's easy, just use a Marcus account and take out a loan, you'll MAKE money, might be a small amount, but it's WORTHIT"
"Your figures are wrong, you'll lose money, infact you'll make more money over the term by paying cash outright"
"Pah, Marcus accounts are rubbish anyway and the amount you make is pathetic"
I think that about wraps it up.
These debates always end up in binary form.
Bob-2146 said:
Here’s your PCP finance deal, just put your neck in here :
Yup.And along with 'dealer deposit contribution' i.e. we cant shift these cars so will give you a huge discount for cash anyway, I often wonder exactly what high proportion of pcpers chasing their latest 'must have' shiny bauble
actually understand what 'living beyond their means' actually means.Be interesting to hear one of the pcp ambassadors (DTs or Brookings) view on this especially since DTs financial acumen was weened off the great British Leyland school of economics selling hearing aid beige Rovers back in the day.
TheStigsWeeBrother - if you were looking a prime example of the "sneering" comments that have been mentioned where people try to drag up your past in a negative light to undermine you, av185 has a textbook example for you...
I posted this morning that i sold Austin Rovers back in '88/89 on the car brand loyalty thread. Look how hes attempted to twist that round
I posted this morning that i sold Austin Rovers back in '88/89 on the car brand loyalty thread. Look how hes attempted to twist that round
av185 said:
Be interesting to hear one of the pcp ambassadors (DTs or Brookings) view on this especially since DTs financial acumen was weened off the great British Leyland school of economics selling hearing aid beige Rovers back in the day.
av185 said:
Yup.
And along with 'dealer deposit contribution' i.e. we cant shift these cars so will give you a huge discount for cash anyway, I often wonder exactly what high proportion of pcpers chasing their latest 'must have' shiny bauble actually understand what 'living beyond their means' actually means.
Be interesting to hear one of the pcp ambassadors (DTs or Brookings) view on this especially since DTs financial acumen was weened off the great British Leyland school of economics selling hearing aid beige Rovers back in the day.
According to the Collins dictionary - living beyond their means constitutes spending more money than they can afford. So the key is affordability.And along with 'dealer deposit contribution' i.e. we cant shift these cars so will give you a huge discount for cash anyway, I often wonder exactly what high proportion of pcpers chasing their latest 'must have' shiny bauble
actually understand what 'living beyond their means' actually means.Be interesting to hear one of the pcp ambassadors (DTs or Brookings) view on this especially since DTs financial acumen was weened off the great British Leyland school of economics selling hearing aid beige Rovers back in the day.
(a) How do you know what other people can afford?
(b) Who are you to judge?
(c) Why do you insist on judging others?
And for the avoidance of doubt
- I don't have a car on PCP
- I tend to buy my cars with cash, sometimes with a low cost loan (last one 2.9% apr)
- I am objective towards buying methods and chose what is cheapest for my circumstances at any particular time
Edited by Deep Thought on Friday 18th January 10:59
Edited by Deep Thought on Friday 18th January 11:25
I’ve decided this thread is no longer worth my time, it’s like getting blood out of a stone.
Labouring the point about that Marcus account interest rate, get a grip.
I just implore you to be more open minded and not look at every 20 something in an M4 and think he’s crippled with debt.
Labouring the point about that Marcus account interest rate, get a grip.
I just implore you to be more open minded and not look at every 20 something in an M4 and think he’s crippled with debt.
av185 said:
Yup.
And along with 'dealer deposit contribution' i.e. we cant shift these cars so will give you a huge discount for cash anyway, I often wonder exactly what high proportion of pcpers chasing their latest 'must have' shiny bauble actually understand what 'living beyond their means' actually means.
Be interesting to hear one of the pcp ambassadors (DTs or Brookings) view on this especially since DTs financial acumen was weened off the great British Leyland school of economics selling hearing aid beige Rovers back in the day.
Suggesting that buyers might be considering a range of opportunities given varying personal circumstances hardly makes one “an ambassador” does it ?And along with 'dealer deposit contribution' i.e. we cant shift these cars so will give you a huge discount for cash anyway, I often wonder exactly what high proportion of pcpers chasing their latest 'must have' shiny bauble
actually understand what 'living beyond their means' actually means.Be interesting to hear one of the pcp ambassadors (DTs or Brookings) view on this especially since DTs financial acumen was weened off the great British Leyland school of economics selling hearing aid beige Rovers back in the day.
Deep Thought said:
TheStigsWeeBrother - if you were looking a prime example of the "sneering" comments that have been mentioned where people try to drag up your past in a negative light to undermine you, av185 has a textbook example for you...
I posted this morning that i sold Austin Rovers back in '88/89 on the car brand loyalty thread. Look how hes attempted to twist that round
I thought you already said it on this thread?I posted this morning that i sold Austin Rovers back in '88/89 on the car brand loyalty thread. Look how hes attempted to twist that round
av185 said:
Be interesting to hear one of the pcp ambassadors (DTs or Brookings) view on this especially since DTs financial acumen was weened off the great British Leyland school of economics selling hearing aid beige Rovers back in the day.
Deep Thought said:
TheStigsWeeBrother - if you were looking a prime example of the "sneering" comments that have been mentioned where people try to drag up your past in a negative light to undermine you, av185 has a textbook example for you...
I posted this morning that i sold Austin Rovers back in '88/89 on the car brand loyalty thread. Look how hes attempted to twist that round
Get over yourself ffs!I posted this morning that i sold Austin Rovers back in '88/89 on the car brand loyalty thread. Look how hes attempted to twist that round
av185 said:
Be interesting to hear one of the pcp ambassadors (DTs or Brookings) view on this especially since DTs financial acumen was weened off the great British Leyland school of economics selling hearing aid beige Rovers back in the day.
This is no more sneering than you implying I considered profit to be a dirty word knowing full well I run several profitable businesses.
It was a genuine question btw.
Living beyond ones means?
roadsmash said:
I’ve decided this thread is no longer worth my time,
The way I look at it is that it really doesn't matter what some people on the internet think about it or how people buy their cars.I'll keep on selling cars on finance and cars for cash and the world keeps on spinning. If some people are really that bothered by it, best to let them crack on really
av185 said:
Deep Thought said:
TheStigsWeeBrother - if you were looking a prime example of the "sneering" comments that have been mentioned where people try to drag up your past in a negative light to undermine you, av185 has a textbook example for you...
I posted this morning that i sold Austin Rovers back in '88/89 on the car brand loyalty thread. Look how hes attempted to twist that round
Get over yourself ffs!I posted this morning that i sold Austin Rovers back in '88/89 on the car brand loyalty thread. Look how hes attempted to twist that round
av185 said:
Be interesting to hear one of the pcp ambassadors (DTs or Brookings) view on this especially since DTs financial acumen was weened off the great British Leyland school of economics selling hearing aid beige Rovers back in the day.
This is no more sneering than you implying I considered profit to be a dirty word knowing full well I run several profitable businesses.
It was a genuine question btw.
Living beyond ones means?
Your binary assertion that anybody who suggests consumer credit products might work for some people in some circumstances is somehow providing endorsement for irresponsibility doesn’t hold any water.
Brooking10 said:
Suggesting that buyers might be considering a range of opportunities given varying personal circumstances hardly makes one “an ambassador” does it ?
Well you do come across as substantially pro pcp despite constant referrals on this and other threads to having considered other avenues of funding. These may or may not be red herrings, of course.As you know full well I am firmly in the cash is king cut your coat according to ones cloth cap camp.
So to speak.
roadsmash said:
I just implore you to be more open minded and not look at every 20 something in an M4 and think he’s crippled with debt.
Only an M4 ? What a pussy. If you're going to do PCP at least commit to it 100% :https://cars.mclaren.com/finance-offer-540c-uk
20 grand finance changes ? Pffft. A drop in the ocean to fInance 90 grand for 7.9% APR. Oh yeah....
av185 said:
Brooking10 said:
Suggesting that buyers might be considering a range of opportunities given varying personal circumstances hardly makes one “an ambassador” does it ?
Well you do come across as substantially pro pcp despite constant referrals on this and other threads to having considered other avenues of funding. These may or may not be red herrings, of course.As you know full well I am firmly in the cash is king cut your coat according to ones cloth cap camp.
So to speak.
You have taken a position about certain people and subjects and you don’t seem prepared to examine what is actually written. I also think you are confusing me with somebody else per “constant referrals”. I’ve rarely spoken about it other than to be quite upfront about the fact that I have bought, leased and pcped over time.
I don’t think I have seen anybody on any of these many threads about car finance where people have said anything to suggest anywhere near as binary a “pro “ position as you and others put forward an “anti” one:
I’ve repeatedly said by the way that PCP is an expensive way to buy a car. It can be for many the most accessible way to run a car, in some cases it can occasionally be a cost effective way to run a car.
As you know my primary interest in these threads is the psychology behind what drives so much of the invective aimed at folk who are less well off than you.
Edited by anonymous-user on Friday 18th January 11:58
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