How do people afford new cars?
- Thread starter inkey$
- Start date
By the seaside...
I love this statement that if you buy a car on PCP you never own it.....
....so to those do they, that think this way, feel that they own their house which is mortgaged?
just wondering, because owning is a state of mind, I feel that I own my car even though it's financed, because I have exclusive use of it
I personally can see both the advantages and disadvantages between buying out right and leasing/PCP/HP/bank loan
....so to those do they, that think this way, feel that they own their house which is mortgaged?
just wondering, because owning is a state of mind, I feel that I own my car even though it's financed, because I have exclusive use of it
I personally can see both the advantages and disadvantages between buying out right and leasing/PCP/HP/bank loan
I lost £8500 on my scooby in 2 years from buying it from main dealer to trading it in.
That's £354 pound a month i could lease a vehicle for but with the advantage of less to worry about. I can see the attraction of leasing. I just bought my 2 year old zed outright because I like to own the car but now starting to think what I loose on trade in it might be worth looking into leasing in the future.
That's £354 pound a month i could lease a vehicle for but with the advantage of less to worry about. I can see the attraction of leasing. I just bought my 2 year old zed outright because I like to own the car but now starting to think what I loose on trade in it might be worth looking into leasing in the future.
Yes very true scooby is no bmw.
But the zed I just bought with extras and only 4000 miles from main dealer has lost £18000 in 2 years.
But the zed I just bought with extras and only 4000 miles from main dealer has lost £18000 in 2 years.
pvr said:
Traded in my 3.0si back to the dealer with Falken 452 tyres and Remus exhaust left on, no problems. The confusion people seem to have with a PCP is that they think its outright renting, but its not. Its still finance like regular HP, just that the figures are set out differently.
Surely if you buy or lease, the depreciation is the same?
Visible at a trade in if you buy, or just wrapped up in lease deal and hidden - except that the lease deal also attracts interest.
At the end of the PCP deal, the dealer has got you over a barrel and will offer a deal for another X years so you're effectively you are on his hook?
Has anybody sat down and done some real sums? Ie not just man maths!
I would like to know as I will change at sometime in the future and would like to get the best financial deal for my pocket.
Ps old enough to be on a fixed income, with no chance of promotion, demotion, redundancy, overtime pay or sick pay!
Visible at a trade in if you buy, or just wrapped up in lease deal and hidden - except that the lease deal also attracts interest.
At the end of the PCP deal, the dealer has got you over a barrel and will offer a deal for another X years so you're effectively you are on his hook?
Has anybody sat down and done some real sums? Ie not just man maths!
I would like to know as I will change at sometime in the future and would like to get the best financial deal for my pocket.
Ps old enough to be on a fixed income, with no chance of promotion, demotion, redundancy, overtime pay or sick pay!
Depreciation hits you at any level.....whether you buy or PCP or HP.....
I guess, the best way to buy, would be used, 2 years, low miles and then either HP at a really low % rate or buy outright.
I can understand the attraction of low deposit low monthly payments.....anything less than £500 a month for your ideal car isn't too bad AS LONG AS YOU CAN AFFORD IT, that's about it.
I guess, the best way to buy, would be used, 2 years, low miles and then either HP at a really low % rate or buy outright.
I can understand the attraction of low deposit low monthly payments.....anything less than £500 a month for your ideal car isn't too bad AS LONG AS YOU CAN AFFORD IT, that's about it.
If one doesn't mind keeping a car for an extended period. It's normally better to buy. Of course the best way to buy is picking up a lease return that 2 years old. The biggest part of the depreciation is gone. And as a lease will have very strict penalties for not having taken care of the car. Lease holders generally take better care of their cars.
I count myself as very lucky indeed. In preparation of leaving Germany for America. We sold my wife's 328 and bought a MB GLK250 Diesel so that we could tow the Caterham. We bought it through the MB military program. The flimper spec GLK Diesel (which is still very nicely appointed) Came to $35,000 US or 21,000 quid. After a $10,000 Down/deposit & 1.39% finance. We are buying for 223 quid per month. Gotta love US taxes. Which in this case amounted to 0%.
I count myself as very lucky indeed. In preparation of leaving Germany for America. We sold my wife's 328 and bought a MB GLK250 Diesel so that we could tow the Caterham. We bought it through the MB military program. The flimper spec GLK Diesel (which is still very nicely appointed) Came to $35,000 US or 21,000 quid. After a $10,000 Down/deposit & 1.39% finance. We are buying for 223 quid per month. Gotta love US taxes. Which in this case amounted to 0%.
Stark said:
In all honesty Stark. Just like crude oil. The cost of the car is X Euro's from MB no matter where it goes. It's the national & local taxes & extra dealer markup in hot sales areas that are the only difference. Although MB gives a military discount of about $4,000 & you get to take delivery, have lunch & a tour at the factory in Sindelfingen.
The norm here in America is a four year standard warranty, Eight years on rust perforation & Eight or Ten years on Emissions equipment.
Why do people get so hung up on depreciation, life depreciates so make the most of it, I could buy everything second hand or bargain basement and keep the money under the bed and get run over tomorrow 
When I think of seconhand cars I think of bodily fluids and other nasties :wink:
Tim.
When I think of seconhand cars I think of bodily fluids and other nasties :wink:
Tim.
So you happily pass on your used bodily fluids and other nasties onto others ???? 
No problems buying sensibly any nearly new and more to spend on other toys.
I have to say tho, that not everbody is as fortunate in life as you seem to suggest you are and there are a whole lot of folk with mortgages, families and maybe on lower salaries etc who can't afford to disregard big losses .
Only saying !
No problems buying sensibly any nearly new and more to spend on other toys.
I have to say tho, that not everbody is as fortunate in life as you seem to suggest you are and there are a whole lot of folk with mortgages, families and maybe on lower salaries etc who can't afford to disregard big losses .
Only saying !
:wink: