How the hell do people afford cars these days?
Discussion
But people aren't changing their behaviours against these increasing living costs.
The roads in Bournemouth for example are full of people in their cars on every weekend for the last 3 months - traffic everywhere (I'm sad enough to make a mental note to monitor it week in week out) and the bars are still full when the sun is out. That's not behaviour of people that are concerned about their cost of living regardless of the individual anecdotes you're all giving
The roads in Bournemouth for example are full of people in their cars on every weekend for the last 3 months - traffic everywhere (I'm sad enough to make a mental note to monitor it week in week out) and the bars are still full when the sun is out. That's not behaviour of people that are concerned about their cost of living regardless of the individual anecdotes you're all giving
pb8g09 said:
But people aren't changing their behaviours against these increasing living costs.
The roads in Bournemouth for example are full of people in their cars on every weekend for the last 3 months - traffic everywhere (I'm sad enough to make a mental note to monitor it week in week out) and the bars are still full when the sun is out. That's not behaviour of people that are concerned about their cost of living regardless of the individual anecdotes you're all giving
That's the problem of that group of people though isn't it. They'll spend rent/mortgage/child benefit money enjoying themselves and then plead poverty at the job centre/council office/CAB saying they can't afford to feed their kids and demand help, whilst neatly forgetting the reason they don't have the money to feed their kids.The roads in Bournemouth for example are full of people in their cars on every weekend for the last 3 months - traffic everywhere (I'm sad enough to make a mental note to monitor it week in week out) and the bars are still full when the sun is out. That's not behaviour of people that are concerned about their cost of living regardless of the individual anecdotes you're all giving
Its always someone else's fault.
pb8g09 said:
But people aren't changing their behaviours against these increasing living costs.
The roads in Bournemouth for example are full of people in their cars on every weekend for the last 3 months - traffic everywhere (I'm sad enough to make a mental note to monitor it week in week out) and the bars are still full when the sun is out. That's not behaviour of people that are concerned about their cost of living regardless of the individual anecdotes you're all giving
Whilst I do agree there is an apparent head in the sand (l'oreal generation in particular that are sticking it on plastic), I don't think the pinch is being felt quite as hard at present. It's a gradual erosion of spare fun money that isn't so seismic that people immediately cease doing all "fun" things. The changes will be minor and gradual. Traffic won't fall off a cliff but according to statistics is already lower (no doubt WFH is also a factor in this). People won't stop going to bars but might have 1 or 2 less drinks (pre-drinks might not just be for students) or go to the bar fewer times per week. It's not so black and white as just do/don't but moderation. The roads in Bournemouth for example are full of people in their cars on every weekend for the last 3 months - traffic everywhere (I'm sad enough to make a mental note to monitor it week in week out) and the bars are still full when the sun is out. That's not behaviour of people that are concerned about their cost of living regardless of the individual anecdotes you're all giving
Statistics seem to show this is already occurring. Traffic numbers, TV subscription services etc etc. Numbers are reducing, but to be visually noticeable it would take a gigantic change in behaviour overnight which is unlikely. I know my partner and I have made small tweaks and will continue to do so as the economic landscape worsens. To the outside they are probably not noticeable. On a final point, Bournemouth largely consists of baby boomers/retirees with money, or younger demographic that are students and don't give a damn. To that end, it's perhaps less reflective of the country as a whole when it comes to financial security.
Pixelpeep 135 said:
That's the problem of that group of people though isn't it. They'll spend rent/mortgage/child benefit money enjoying themselves and then plead poverty at the job centre/council office/CAB saying they can't afford to feed their kids and demand help, whilst neatly forgetting the reason they don't have the money to feed their kids.
Its always someone else's fault.
or maybe they can afford the extra £400 per month on fuel, energy etc and therefore can still go to bars etc. whilst there are millions that this will have a massive impact on and they'll be very vocal about, there a millions of people for which it will just be an annoying inconvenience but ultimately will make very little difference to how they live their lifeIts always someone else's fault.
Pixelpeep 135 said:
pb8g09 said:
But people aren't changing their behaviours against these increasing living costs.
The roads in Bournemouth for example are full of people in their cars on every weekend for the last 3 months - traffic everywhere (I'm sad enough to make a mental note to monitor it week in week out) and the bars are still full when the sun is out. That's not behaviour of people that are concerned about their cost of living regardless of the individual anecdotes you're all giving
That's the problem of that group of people though isn't it. They'll spend rent/mortgage/child benefit money enjoying themselves and then plead poverty at the job centre/council office/CAB saying they can't afford to feed their kids and demand help, whilst neatly forgetting the reason they don't have the money to feed their kids.The roads in Bournemouth for example are full of people in their cars on every weekend for the last 3 months - traffic everywhere (I'm sad enough to make a mental note to monitor it week in week out) and the bars are still full when the sun is out. That's not behaviour of people that are concerned about their cost of living regardless of the individual anecdotes you're all giving
Its always someone else's fault.
LeighW said:
Some people are just like that though. I'm an accountant, I see the whole spectrum. From people past retirement age, still running a business, sitting on a pile of money they are unwilling to spend, to people who would have no money regardless of whether they made 30k or 300k. Money is like sand through the fingers for some. One juggles five or more credit cards to live, has no savings, no pension, always on expensive holidays etc. To look at them you'd think they were loaded. I don't know how some people sleep at night!
As I write this whilst in a meeting, a sales director next to me on £300k a year is buying lottery tickets and just checked his outstanding balance on klarna on his laptop. Sand through fingers is a great metaphor.pb8g09 said:
LeighW said:
Some people are just like that though. I'm an accountant, I see the whole spectrum. From people past retirement age, still running a business, sitting on a pile of money they are unwilling to spend, to people who would have no money regardless of whether they made 30k or 300k. Money is like sand through the fingers for some. One juggles five or more credit cards to live, has no savings, no pension, always on expensive holidays etc. To look at them you'd think they were loaded. I don't know how some people sleep at night!
As I write this whilst in a meeting, a sales director next to me on 300k a year is buying lottery tickets and just checked his outstanding balance on klarna on his laptop. Sand through fingers is a great metaphor.I have had cars on some form of finance for the past 10 years, either PCP or bank loan.
What did it for me was a PCP on a Mini F54 Cooper S, 2k down and 300pm. Cost me about 16k over 4 years and I gave it back with 26k miles on the clock. Sixteen grand for 26k miles.
That was several years ago, the same car is probably more now.
At the moment we have 2x five year old Fxx BMW's on bank loans, one was bought before the price rises so is actually worth almost what we paid 2 years ago and the other hasn't lost much in a year. Will be paying the remainder of them off once the house sells and keeping them for as long as we can. I tend to just pay the £500 per year to have BMW warranty on both to cover us just in case but touch wood, I have never had to claim.
When I look at our outgoings each month for two cars, its more than our mortgage if you include fuel and maintenance.
What did it for me was a PCP on a Mini F54 Cooper S, 2k down and 300pm. Cost me about 16k over 4 years and I gave it back with 26k miles on the clock. Sixteen grand for 26k miles.
That was several years ago, the same car is probably more now.
At the moment we have 2x five year old Fxx BMW's on bank loans, one was bought before the price rises so is actually worth almost what we paid 2 years ago and the other hasn't lost much in a year. Will be paying the remainder of them off once the house sells and keeping them for as long as we can. I tend to just pay the £500 per year to have BMW warranty on both to cover us just in case but touch wood, I have never had to claim.
When I look at our outgoings each month for two cars, its more than our mortgage if you include fuel and maintenance.
Edited by Wagonwheel555 on Thursday 26th May 12:27
pb8g09 said:
But people aren't changing their behaviours against these increasing living costs.
The roads in Bournemouth for example are full of people in their cars on every weekend for the last 3 months - traffic everywhere (I'm sad enough to make a mental note to monitor it week in week out) and the bars are still full when the sun is out. That's not behaviour of people that are concerned about their cost of living regardless of the individual anecdotes you're all giving
The Brits are very good at non acceptance of change. Had it too good for too long. It will catch up with them when other pressures kick in when we get the oncoming recession and houses will need heating from OctoberThe roads in Bournemouth for example are full of people in their cars on every weekend for the last 3 months - traffic everywhere (I'm sad enough to make a mental note to monitor it week in week out) and the bars are still full when the sun is out. That's not behaviour of people that are concerned about their cost of living regardless of the individual anecdotes you're all giving
pb8g09 said:
As I write this whilst in a meeting, a sales director next to me on 300k a year is buying lottery tickets and just checked his outstanding balance on klarna on his laptop. Sand through fingers is a great metaphor.
£300K is a take home of £13,881.01 a month. The fact that someone who takes home that much money requires credit to buy anything other than a house blows my mind.pb8g09 said:
LeighW said:
Some people are just like that though. I'm an accountant, I see the whole spectrum. From people past retirement age, still running a business, sitting on a pile of money they are unwilling to spend, to people who would have no money regardless of whether they made 30k or 300k. Money is like sand through the fingers for some. One juggles five or more credit cards to live, has no savings, no pension, always on expensive holidays etc. To look at them you'd think they were loaded. I don't know how some people sleep at night!
As I write this whilst in a meeting, a sales director next to me on 300k a year is buying lottery tickets and just checked his outstanding balance on klarna on his laptop. Sand through fingers is a great metaphor.
LeighW said:
That's just mental isn't it? As said, our economy does need people like that. What is it? People buying stuff they don't need, with money they don't have, to impress people they don't like. Something like that.
I am assuming it is1)Massive mortgage
2)2 children in private school
3)2 expensive leased SUVs on the drive
4)Couple of expensive holidays a year
5)Some recent building work on the house
Rather than just buying "stuff" although I expect buying anything they want and eating out all the time without giving a thought to how much it costs isn't going to help.
Joey Deacon said:
I am assuming it is
1)Massive mortgage
2)2 children in private school
3)2 expensive leased SUVs on the drive
4)Couple of expensive holidays a year
5)Some recent building work on the house
Rather than just buying "stuff" although I expect buying anything they want and eating out all the time without giving a thought to how much it costs isn't going to help.
1 and 2 easily could be over 7k-8k a month combined even for 2 kids in a nursery 4-5 days a week.1)Massive mortgage
2)2 children in private school
3)2 expensive leased SUVs on the drive
4)Couple of expensive holidays a year
5)Some recent building work on the house
Rather than just buying "stuff" although I expect buying anything they want and eating out all the time without giving a thought to how much it costs isn't going to help.
Add in food and savings and even normal holidays and cars and you’re there. Also if he’s like me he will have a basic salary and get bonuses qtrly so you have to manage that cash flow as otherwise one missed target throws the whole thing (in his case it would seem).
If the Salesman is on 300K/yr he is likely on either 150/150 or 180/120. The second number being his "incentive" or "compensation" or "bonus" if you will.
What does buying a lottery ticket mean or consuming Klarna - IIRC Klarna is a short term, interest free, spread a purchase over 3-4 months type thing. That sounds like a wise idea.
What does buying a lottery ticket mean or consuming Klarna - IIRC Klarna is a short term, interest free, spread a purchase over 3-4 months type thing. That sounds like a wise idea.
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