How the hell do people afford cars these days?
Discussion
Deep Thought said:
I can understand people talking about how they got or how to get the best deal or offer on something, but the idea of everyone dropping in to conversation "well of course, i bought this with cash you know" was bemusing, particularly as these days its unlikely to get you the best price on a new car anyway.
I'm all for sharing info on getting the best deal on things, particularly in the current climate.
Well no of course it’s not like that, it’s just open conversation and not hiding things, someone asks for pension advice and someone says “this is what I’ve got invested here and here etc” or what’s the best way to buy a car, and someone says “ well I bought mine for this much from here and like this and this is a good way to get a good deal etc etc”. We just have open conversations like that, we don’t try to hide anything from anyone which I think works well. But then for example when I told them I bought my rs6, someone asked how I bought it and I said cash after going through a broker to get the best price for the dealer to match. I guess I can see how that might be bemusing to some but I guess it’s never been an issue. It can only be a benefit. I'm all for sharing info on getting the best deal on things, particularly in the current climate.
And incidentally, that was the way I got my price massively discounted, which the dealer matched. So regardless of how you fund the car, I’d advise going to a few brokers and taking those quotes to a dealer
Technoholic said:
Well no of course it’s not like that, it’s just open conversation and not hiding things, someone asks for pension advice and someone says “this is what I’ve got invested here and here etc” or what’s the best way to buy a car, and someone says “ well I bought mine for this much from here and like this and this is a good way to get a good deal etc etc”. We just have open conversations like that, we don’t try to hide anything from anyone which I think works well. But then for example when I told them I bought my rs6, someone asked how I bought it and I said cash after going through a broker to get the best price for the dealer to match. I guess I can see how that might be bemusing to some but I guess it’s never been an issue. It can only be a benefit.
Absolutely. However that was not the context of the original point being made in the thread.And yes, to reiterate, sharing info on the best deal is very much a great idea. I do it all the time. I'm a huge advocate of Hot UK Deals and MSE for sharing of deals and info too.
Technoholic said:
And incidentally, that was the way I got my price massively discounted, which the dealer matched. So regardless of how you fund the car, I’d advise going to a few brokers and taking those quotes to a dealer
And yes, thats the way i do it also and i would be a strong advocate of that approach. Get the broker prices, see if your local dealer will price match. If not, no problem, i'll use the broker. Did that with our M140i, bought new 2019 and the A45 before it. On both occasions the local dealer price matched rather than lose the sale. 981Boxess said:
Deep Thought said:
981Boxess said:
Deep Thought said:
This bemused many of us........
It seems to be a particular obsession of yours but no matter, I have already dealt with that in my previous post.Throttlebody said:
981Boxess said:
Deep Thought said:
981Boxess said:
Deep Thought said:
This bemused many of us........
It seems to be a particular obsession of yours but no matter, I have already dealt with that in my previous post.
How would you know if people buy for cash or not because people never talk about their finances to anyone, not even close friends because it's a secret
Technoholic said:
Well no of course it’s not like that, it’s just open conversation and not hiding things, someone asks for pension advice and someone says “this is what I’ve got invested here and here etc” or what’s the best way to buy a car, and someone says “ well I bought mine for this much from here and like this and this is a good way to get a good deal etc etc”. We just have open conversations like that, we don’t try to hide anything from anyone which I think works well. But then for example when I told them I bought my rs6, someone asked how I bought it and I said cash after going through a broker to get the best price for the dealer to match. I guess I can see how that might be bemusing to some but I guess it’s never been an issue. It can only be a benefit.
Absolutely right, but you are going to struggle to get that point across to someone that thinks they already know everything and isn't willing to learn.981Boxess said:
Throttlebody said:
981Boxess said:
Deep Thought said:
981Boxess said:
Deep Thought said:
This bemused many of us........
It seems to be a particular obsession of yours but no matter, I have already dealt with that in my previous post.How would you know if people buy for cash or not because people never talk about their finances to anyone, not even close friends because it's a secret
He is the very definition of making stuff up to feel superior.
Edited by Deep Thought on Monday 16th May 07:57
981Boxess said:
Technoholic said:
Well no of course it’s not like that, it’s just open conversation and not hiding things, someone asks for pension advice and someone says “this is what I’ve got invested here and here etc” or what’s the best way to buy a car, and someone says “ well I bought mine for this much from here and like this and this is a good way to get a good deal etc etc”. We just have open conversations like that, we don’t try to hide anything from anyone which I think works well. But then for example when I told them I bought my rs6, someone asked how I bought it and I said cash after going through a broker to get the best price for the dealer to match. I guess I can see how that might be bemusing to some but I guess it’s never been an issue. It can only be a benefit.
Absolutely right, but you are going to struggle to get that point across to someone that thinks they already know everything and isn't willing to learn.What I questioned was you saying all your friends bought brand new cars with cash. Which it turns out by your own admission, they don't.
Deep Thought said:
981Boxess said:
Technoholic said:
Well no of course it’s not like that, it’s just open conversation and not hiding things, someone asks for pension advice and someone says “this is what I’ve got invested here and here etc” or what’s the best way to buy a car, and someone says “ well I bought mine for this much from here and like this and this is a good way to get a good deal etc etc”. We just have open conversations like that, we don’t try to hide anything from anyone which I think works well. But then for example when I told them I bought my rs6, someone asked how I bought it and I said cash after going through a broker to get the best price for the dealer to match. I guess I can see how that might be bemusing to some but I guess it’s never been an issue. It can only be a benefit.
Absolutely right, but you are going to struggle to get that point across to someone that thinks they already know everything and isn't willing to learn.Deep Thought said:
This elite group of friends you have who seem to divulge their detailed financial affairs to each other for no apparent reason.
Sounds very likely.
Sounds very likely.
Deep Thought said:
I take it you've not read Throttlebodys posts elsewhere?
He is the very definition of making stuff up to feel superior.
Not really, but what he has posted comes across as sensible.He is the very definition of making stuff up to feel superior.
Whereas what you are posting comes across as the confused ramblings of someone who cannot even remember what he has posted previously
Romford4 said:
Theoldguard said:
Inflation should eat away at any debt especially if we get decent wage inflation. However many are pointing more towards a period of stagflation, so that will be very risky for many who do not see much in the way of a pay rise, or if pay rises just do not keep up with rates of inflation.
One company I've worked for has just reduced their pay for seasonal staff by 15%. It's a casual fill-in job for me but I don't need it so I'm giving it a miss this year, but that's a hefty pay-drop against inflation that might top 10% later this year. I'm semi-retired but working almost full-time at present to keep up with inflation. I'd feel extremely uncomfortable if I was heavily indebted at this time.Edited by Theoldguard on Thursday 12th May 20:18
What I'm always amazed at is that the 'must have it now brigade' are so unable to make sacrifices for a few years early on. They now buy everything on credit & I don't think it registers that they'll forever live a more expensive life than those who were frugal unless they can break out of that mindset. I think many genuinely believe that they have 'made it' & are entitled to the 'trappings of success'. In my book however, if you need someone else's money to buy your s
t then you can't afford it & your 'success' is an self-created illusion.Edited by Romford4 on Sunday 15th May 22:59
I don't like the term but gammon seems to fit quite nicely.
[quote]One company I've worked for has just reduced their pay for seasonal staff by 15%. It's a casual fill-in job for me but I don't need it so I'm giving it a miss this year, but that's a hefty pay-drop against inflation that might top 10% later this year. I'm semi-retired but working almost full-time at present to keep up with inflation. I'd feel extremely uncomfortable if I was heavily indebted at this time.
What I'm always amazed at is that the 'must have it now brigade' are so unable to make sacrifices for a few years early on. They now buy everything on credit & I don't think it registers that they'll forever live a more expensive life than those who were frugal unless they can break out of that mindset. I think many genuinely believe that they have 'made it' & are entitled to the 'trappings of success'. In my book however, if you need someone else's money to buy your st then you can't afford it & your 'success' is an self-created illusion.
[/quote]
there is such an obsession on this forum with how people pay for cars and from reading most of the "older" crowd seem to be so happy that they have paid outright for the car and slag anyone off to feel superior who hasn't. what they seem to forgot is you probably got your first house with 2 years salary. now your looking at 10 x the salary. that's just one example
my wage is over 10x what my car cost. but instead of saving for it i got it on finance because i wanted it then. in a few months ill clear it off
does that mean i cant afford it?
What I'm always amazed at is that the 'must have it now brigade' are so unable to make sacrifices for a few years early on. They now buy everything on credit & I don't think it registers that they'll forever live a more expensive life than those who were frugal unless they can break out of that mindset. I think many genuinely believe that they have 'made it' & are entitled to the 'trappings of success'. In my book however, if you need someone else's money to buy your s
t then you can't afford it & your 'success' is an self-created illusion.[/quote]
there is such an obsession on this forum with how people pay for cars and from reading most of the "older" crowd seem to be so happy that they have paid outright for the car and slag anyone off to feel superior who hasn't. what they seem to forgot is you probably got your first house with 2 years salary. now your looking at 10 x the salary. that's just one example
my wage is over 10x what my car cost. but instead of saving for it i got it on finance because i wanted it then. in a few months ill clear it off
does that mean i cant afford it?
Edited by Mirinjawbro on Monday 16th May 08:57
The average house price is now 10 x average salary.
40 odd years ago it was only 5 x salary but remember that interest rates back then were running at 17% at their highest. I think that why the older generation have always been wary of taking too much debt.
Borrowing has been so cheap now for years that prices have been driven up. But it looks like that may be about to change.
40 odd years ago it was only 5 x salary but remember that interest rates back then were running at 17% at their highest. I think that why the older generation have always been wary of taking too much debt.
Borrowing has been so cheap now for years that prices have been driven up. But it looks like that may be about to change.
981Boxess said:
Deep Thought said:
I take it you've not read Throttlebodys posts elsewhere?
He is the very definition of making stuff up to feel superior.
Not really, but what he has posted comes across as sensible.He is the very definition of making stuff up to feel superior.
Whereas what you are posting comes across as the confused ramblings of someone who cannot even remember what he has posted previously
Mirinjawbro said:
there is such an obsession on this forum with how people pay for cars and from reading most of the "older" crowd seem to be so happy that they have paid outright for the car and slag anyone off to feel superior who hasn't. what they seem to forgot is you probably got your first house with 2 years salary. now your looking at 10 x the salary. that's just one example
my wage is over 10x what my car cost. but instead of saving for it i got it on finance because i wanted it then. in a few months ill clear it off
does that mean i cant afford it?
Agreed my wage is over 10x what my car cost. but instead of saving for it i got it on finance because i wanted it then. in a few months ill clear it off
does that mean i cant afford it?
Edited by Deep Thought on Monday 16th May 09:17
Deep Thought said:
Agreed
I'm guessing it's because the older folk on here that buy cars for cash have saved for a while to be able to do that (I'm doing it myself right now), so there's potentially some resentment when they see their yuppy neighbour in a £50/60k car on finance whilst they've just dropped 2 years of savings on a 5 year old Octavia estate. I think we can all understand that feeling, but it's then when the "just wait until the interest rates bang up and the debt collectors come in!". Not really, they'll just sell the expensive motor (potentially at a profit at the moment) and pcp a £30k car instead knowing they got to rattle around in a £60k car for a couple of years.Edited by Deep Thought on Monday 16th May 09:17
Reminds me of when your team loses in a cup competition and instead of congratulating the opponent after, you sit there saying how X team will pump them in the next round out of some kind of bitterness.
The added ignorance is that you also don't necessarily know their working situation. They may have bought their house at 25 on £40k and have since worked hard and had promotions up to £80k 5 years later and are sat with loads of surplus disposable income on them. Maybe they don't then want to move because they thought they had some nice older neighbours who gave them tips on DIY when really that sad old git was just stood there mentally judging the credit junky for having a nicer car than him.
Romford4 said:
981Boxess said:
When I posted up above that the majority of people I know bought their cars for cash (fact) I was pretty much called a liar....
Figures suggest it's around 92% of people. In the last 4-5 yrs I've bought 2 new cars on finance to get a manufacturer contribution. As soon as the finance paperwork dropped through the letterbox, I paid it off. The finance companies' quoted 92% is taken as gospel by many, but they never publish how many pay it off within a few weeks!Ice_blue_tvr said:
But at some point I feel there will be a decision to be made as to whether we uproot and leave for somewhere with similar values - someplace where cash in the bank has more value than an over leveraged badge on the driveway.
Wife has family that retired to rural France. They are minted but conspicuous displays of wealth would be considered vulgar & out-of-keeping in the area they now call home. I can see us retiring to Seville or Valencia. For the time being though, I can see us moving back to our old village where the older population have zero interest in whether someone drives an Aygo or an Aston.Takes all sorts though. The young couple that live behind me have recently handed back their two PCP'd Cooper S's & bought a couple of Citroen C1s (9 & 13 yrs old). You know they've tried the materialistic thing but decided financial security is better. On the other hand my Sandero driving French neighbour across the road has just taken delivery of a RR on PCP. I wonder if he really wanted a RR, or was there a tiny bit of 'keeping up' involved given that RRs seem to be the default vehicle of choice for so many houses in the street.
TX.
Deep Thought said:
100%
I could save up for the next 4 years to buy it outright, but then it’ll probably have increased in price by more than I will pay interest on a PCP, so why not have it now and actually enjoy it.
I could also save for 4 years and then get hit by a bus…
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