New Car

[BrianM]

I’m a leasing man now myself, on the last few months of a Touerag now, 16k over 3 years, no tax to pay, only a service and tyres.
It’s only worth 21-25k max now, for a 55k car, say that loosely, good deals to be had if you know what you’re after 👍🏻

 

[Reemul]

I just bought a second hand car. 16 plate, Peugeot 308 sw (estate) atop spec including sat nav and great space for the 3 of us with our golf clubs and trolleys. Cost £8.5k, paid cash out of the wages.

I look at it like this. At 21 the missus and I both have pcp or lease cars at £300 a month each. so that's,

£300 x 2 x 12 = £7,200 x 50 years as i do it for my working life that's £360,000 to borrow something. Lot of money that. (like the 16k over 3 years do that over 50 thats £266k for 1 car if 2 of you do that it's over half a million quid on 2 cars you never own) That's also without any increase in monthly payments.

Now I drive my car for 15 minutes total in the morning and then it sits outside work for 8 hours, I then drive it home for 5 minutes. It then sits outside my house 15 hours and 40 minutes. The wife and I could pay £350,000 for that. I'm sure we could do so much better than that with the money.

Now some people can afford this, earn good money and have spare income but where I work we have hordes or peeps in there 20's living at home with parents bitching they can't afford to buy a house yet have these Audi's, Bmw's and Mercs as if it means something. Many people obsessed that having a so called smart brand car means something, like you've made it, people look at you and think wow a car and a new plate you are amazing.

An example, 25 year old girl at work, comes in says i'm getting a brand new Mini, top spec, cost is £23,000 odd. I say lot of money, small car, any thoughts on kids, she like nah, not having kids, i can afford it. Even has the small boot converted with a big speaker system so very little storage etc. 6 weeks later has a one stand and is pregnant, keeping it, can't afford while off work and not suitable for the baby either. Brought a little smile to my face.

It's just a car....

 

[Jacko_G]

I just bought a second hand car. 16 plate, Peugeot 308 sw (estate) atop spec including sat nav and great space for the 3 of us with our golf clubs and trolleys. Cost £8.5k, paid cash out of the wages.

I look at it like this. At 21 the missus and I both have pcp or lease cars at £300 a month each. so that's,

£300 x 2 x 12 = £7,200 x 50 years as i do it for my working life that's £360,000 to borrow something. Lot of money that. (like the 16k over 3 years do that over 50 thats £266k for 1 car if 2 of you do that it's over half a million quid on 2 cars you never own) That's also without any increase in monthly payments.

Now I drive my car for 15 minutes total in the morning and then it sits outside work for 8 hours, I then drive it home for 5 minutes. It then sits outside my house 15 hours and 40 minutes. The wife and I could pay £350,000 for that. I'm sure we could do so much better than that with the money.

Now some people can afford this, earn good money and have spare income but where I work we have hordes or peeps in there 20's living at home with parents bitching they can't afford to buy a house yet have these Audi's, Bmw's and Mercs as if it means something. Many people obsessed that having a so called smart brand car means something, like you've made it, people look at you and think wow a car and a new plate you are amazing.

An example, 25 year old girl at work, comes in says i'm getting a brand new Mini, top spec, cost is £23,000 odd. I say lot of money, small car, any thoughts on kids, she like nah, not having kids, i can afford it. Even has the small boot converted with a big speaker system so very little storage etc. 6 weeks later has a one stand and is pregnant, keeping it, can't afford while off work and not suitable for the baby either. Brought a little smile to my face.

It's just a car....

So a work colleague having a bit of misfortune brings a smile to your face because she treated herself? Doesn't paint you in a great light or maybe it doesn't read well!?

I don't have a fancy car, I don't grudge people who do have nice cars having them either, nor do I judge who can/can't afford them. People sometimes do/own things to make them happy. It's a life choice and good luck to them.

 

[BristolMike]

So a work colleague having a bit of misfortune brings a smile to your face because she treated herself? Doesn't paint you in a great light or maybe it doesn't read well!?

I don't have a fancy car, I don't grudge people who do have nice cars having them either, nor do I judge who can/can't afford them. People sometimes do/own things to make them happy. It's a life choice and good luck to them.

Exactly this. Why does what someone spends their money on matter to others. Seems like people are quick to judge people who want/like nice things.

 

[Mudball]

One of the guys i know in the neighbourhood just splashed on a top 5series BMW.. was talking to him. His simple explanation... I can never afford a house (at late 20s he stays with parents) so I rather have a shiny car .. can’t fault his logic
as someone said... to each his own

 

[fundy]

So here are some numbers that i look thru my deal.

1) allegedly my car costs about 28k (which i think is ridiculous for a hatchback - never mind the brand). It got shiny alloys and mettalic paint and some of the new tech that comes standard on a BMW.
2) I say allegedly because i think the number is made up. BTW, CarWoW provides a similar figure for it. However, due to various discounts this number magically comes down to something around 24k. So my finance is based on that
3) Deposit and monthly for 48 months add up 15k
4) Balloon payment (if i so choose) is about 12.5K
5) At the end of 4 years,
a) i can walk away or trade up after paying 15k
b) Get a 4 year, single owner vehicle that i have been driving around for 27.5k

The other key thing with PCP is affordability and access. If i went to a bank for a 25k loan for 4 years, then i will get have to pay about £500 pm. Plus all the usual bits of admin. I dont have a massive deposit to put away also i would need to make some sort of payment to get rid of existing motor. Despite all it Warts, the PCP is a great way to provide access to new wheels. Also helps the economy by keeping it moving. Remember, if you save and be extra cautious, it does not help the economy. the Economy works when people spend money on goods and services.. BUT spend responsibly

28 bags of sand for a 1 series beemer and you were worrying about a fivers worth of road tax? seriously i dont know which part of that statement is more laughable

 

[Reemul]

Exactly this. Why does what snd to dump her and she gets pregnantomeone spends their money on matter to others. Seems like people are quick to judge people who want/like nice things.

Yes maybe I didn't explain it well enough. I go to lunch at the same time as her and explained my thoughts as listed above, listened to her complain she cant afford to leave home while showing me her new iphone, has to be iphone android is crap and then listen to her going on about spending nearly 25k on something she can't afford and then to have a one night stand, causing her boyfriend to dump her and to get pregnant, i mean it doesn't read true does it, but really sums up today's issues. An unwanted baby, single parent with a 24k car she can't afford, more a grimace as i will more than likely pay her benefits from my taxes, but never mind at least she has a nice car she never owns

 

[Mudball]

28 bags of sand for a 1 series beemer and you were worrying about a fivers worth of road tax? seriously i dont know which part of that statement is more laughable

every little helps ..

 

[BristolMike]

Yes maybe I didn't explain it well enough. I go to lunch at the same time as her and explained my thoughts as listed above, listened to her complain she cant afford to leave home while showing me her new iphone, has to be iphone android is crap and then listen to her going on about spending nearly 25k on something she can't afford and then to have a one night stand, causing her boyfriend to dump her and to get pregnant, i mean it doesn't read true does it, but really sums up today's issues. An unwanted baby, single parent with a 24k car she can't afford, more a grimace as i will more than likely pay her benefits from my taxes, but never mind at least she has a nice car she never owns

I’m sure if you’ve got an 8.5k Peugeot you aren’t really paying all that much in taxes anyway.






It’s not nice being judged by choices you make is it.....it works both ways and completely unnecessary.

 

[BristolMike]

every little helps ..

Haha agreed. I’m looking at an X3M/X4M Competition and it’s not the price of the car that’s making me think, it’s the bloody tax. 😂

 

[Reemul]

One of the guys i know in the neighbourhood just splashed on a top 5series BMW.. was talking to him. His simple explanation... I can never afford a house (at late 20s he stays with parents) so I rather have a shiny car .. can’t fault his logic
as someone said... to each his own

But that's the point, everyone wants what they can't really afford regardles

Exactly this. Why does what someone spends their money on matter to others. Seems like people are quick to judge people who want/like nice things.

I’m sure if you’ve got an 8.5k Peugeot you aren’t really paying all that much in taxes anyway.






It’s not nice being judged by choices you make is it.....it works both ways and completely unnecessary.

I disagree, we are all judged by the chocies we make and we live with that. If anyone on here thinks they aren't judged by what they write they are much mistaken

 

[BristolMike]

But that's the point, everyone wants what they can't really afford regardles



I disagree, we are all judged by the chocies we make and we live with that. If anyone on here thinks they aren't judged by what they write they are much mistaken

What I’m saying is it’s pointless judging people for their choices based on your ideas. Personally I wouldn’t drive a 16 plate Peugeot, but not going to judge someone for it, it’s just not for me. It just seems more socially acceptable to judge people who have nicer things.

 

[Blue in Munich]

What I’m saying is it’s pointless judging people for their choices based on your ideas. Personally I wouldn’t drive a 16 plate Peugeot, but not going to judge someone for it, it’s just not for me. It just seems more socially acceptable to judge people who have nicer things.

Think it would also be fair to say that in a number of cases, the attitude of those who have nicer things towards those who don't invites certain judgements.

 

[BristolMike]

Think it would also be fair to say that in a number of cases, the attitude of those who have nicer things towards those who don't invites certain judgements.

Rarely from what I’ve seen, it does happen but a lot less often. Most of the time it’s judging people with nice things. It’s the usual why do that when this is enough. It really seems to rile people what others spend their money on. There have been a lot of comments on here that seem pretty judging towards what people do.

 

[Blue in Munich]

Rarely from what I’ve seen, it does happen but a lot less often. Most of the time it’s judging people with nice things. It’s the usual why do that when this is enough. It really seems to rile people what others spend their money on. There have been a lot of comments on here that seem pretty judging towards what people do.

What other people spend their money on doesn't rile most people; it's the incessant bragging or rubbing other people's noses in it that causes the issues.

 

[BristolMike]

What other people spend their money on doesn't rile most people; it's the incessant bragging or rubbing other people's noses in it that causes the issues.

By who?

 

[Bunkermagnet]

Think it would also be fair to say that in a number of cases, the attitude of those who have nicer things towards those who don't invites certain judgements.

Which may also explain why the (soon to be dropped) Ford Mondeo has regularly been outsold by the BMW 3 series....
That has to say something about our relationship with labels as a society now surely?

 

[Blue in Munich]

Which may also explain why the (soon to be dropped) Ford Mondeo has regularly been outsold by the BMW 3 series....
That has to say something about our relationship with labels as a society now surely?

Very much so. I see it daily in the office.

 

[Blue in Munich]

By who?

I'm sure you know very well.

 

[BristolMike]

I'm sure you know very well.

No come on, say what you’re thinking