Be honest please.

hoyin

hoyin

Member
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1,842
I should also say the reason why I don’t finance cars is that I don’t like losing or giving away free money!


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conaero

conaero

Forum Owner
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34,639
Strad 100% paid. I do on occasion take a loan to bridge the step up but usually only circa £10k
 
Doohickey

Doohickey

Velociraptor
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2,499
I've purchased both my Maserati outright but have my dailies on PCP. I need it for work and am doing a reasonable mileage a year so need something newish and reliable. I also tend to get bored with them and like changing every 3 years. PCP makes it easier to do that.
 
safrane

safrane

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16,892
Anyway... all the extra cars bought on financial plans good or bad mean that there are more cars to buy second hand and it helps Maserati to survive and maybe one day build another sports car.
 
Nayf

Nayf

Member
Messages
2,752
D Walker said:
I suppose there is the other cynical view, in that cars are being deliberately priced higher in order to tempt people into leasing, and therefore stuck in a debt cycle.
An M5 is £100k new....who the #£&* is buying them at that price privately....
Lease company price?
View attachment 51177
Click to expand...
If you adjust for inflation the M5 costs the same as it did during the E39 years.
It’s the same with the CL600 W140 and the new AMG S65 Coupe...
 
Nayf

Nayf

Member
Messages
2,752
I was always against PCP, but even I was tempted by a Giulia Quadrifoglio. But then I’d be kissing goodbye to five grand deposit every time I’d change cars, and the mileage limit of 10,000pa is ridiculous. It got me thinking... as great as the Giulia is, is it worth it? If could lay my hands on five grand every three years wouldn’t I rather take lumps off my mortgage, or put the money towards a GranSport or even an Alfa 75 Cloverleaf?
I paid £700 for my 166 and I’ve paid about that again getting it sorted. For the simple task of getting to work and back - a 12-mile round trip - it just doesn’t seem worth it to get a lease. https://www.parkers.co.uk/alfa-rome...goVHJpbU5hbWUsJ1F1YWRyaWZvZ2xpbycpKQ--&page=2

Mind you I do keep feeling urges towards a BMW M2 Competition...
 
Felonious Crud

Felonious Crud

Administrator
Staff member
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21,211
Commuting, yet another way in which we all differ. I’m lucky enough to not need a car for that. Walk to the station if I’m working at the office, otherwise I’m at home or on a plane. And since the kids buggered off to uni we don’t really need a family car any more, either. If we do, I rent one. The Vantage is a luxury, the Fiat does the job for the day-to-day stuff and over a few years probably cost less than if we’d leased one.
 
mjheathcote

mjheathcote

Centenary Club
Messages
9,038
If only a 12 mile round trip would be biking it and a £5K 4x4 for wet/winter/family trips.
Totally different to doing 25K a year for business, and getting a car allowance to pay for it!
 
Ewan

Ewan

Member
Messages
6,818
3 mile commute for me, along a country lane. Hence I needn’t worry about mpg or adding lots of miles to the odometer. Which is why I can do it a Maserati, Ferrari, Lambo, Venturi, etc without worrying. Even if something was to break, I could finish the trip on foot!
 
B

bigbob

Member
Messages
8,972
The bit I am not understanding here is the perception that finance is somehow cheaper than it often is. I fully understand taking finance to allow you to get something you cannot afford otherwise at the moment (boosting your 'utility' as economists' call it) or to keep the financial flexibility of holding back cash/investments for a rainy day (good prudent money management albeit at a cost) but finance does cost money (have a friend who sold a half million pound car to the guy that started Oracle Car Finance so it must make ££) and you are exposed to the same depreciation unless the market is so bad that you need to use the paid for put option that a GFV is. Sure if there are manufacturer supported really low APR finance offers then great but otherwise secured lending on property is cheaper and if people are genuinely taking finance at c6% on a £30-60k car because they can make more money in their businesses then they should be maxing out mortgages instead.
 
Scaf

Scaf

Member
Messages
6,598
FF1078 said:
If I had £200k I'd buy 2 houses and rent them out. I'd then wait until the mortgages where paid off. Sell one and buy a £100k car and pay for the fuel with the rent from the other.
Click to expand...

Not in the South you won’t !
But seriously your “model” is more likely to work with buy a house - rent it out - five years later sell it and buy a car with the capital gain (ask me how I know ...........)
 
FF1078

FF1078

Member
Messages
1,123
Scaf said:
Not in the South you won’t !
But seriously your “model” is more likely to work with buy a house - rent it out - five years later sell it and buy a car with the capital gain (ask me how I know ...........)
Click to expand...
No I know you southerners have it hard.
 
hoyin

hoyin

Member
Messages
1,842
Scaf said:
Not in the South you won’t !
But seriously your “model” is more likely to work with buy a house - rent it out - five years later sell it and buy a car with the capital gain (ask me how I know ...........)
Click to expand...

Though if you were doing it now around London I would actually say you would have lost money as house prices have dropped.

:-(

I commute 16 miles each way to work. I still do it on a bike. So have never needed a car. Though now we have new children we do need a family wagon.

But my motto for that is buy the shittest car possible that works.

I love turning up on the school run in the banger and slapping it in the middle of all the Chelsea tractors. Even better that it is never washed as well.

Unbelievable the number of people that look down on you because of the car that you drive. I guess that encourages people to buy cars they simply can’t afford and get finance.


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O

Oliver6796

Member
Messages
497
hoyin said:
Though if you were doing it now around London I would actually say you would have lost money as house prices have dropped.

:-(

I commute 16 miles each way to work. I still do it on a bike. So have never needed a car. Though now we have new children we do need a family wagon.

But my motto for that is buy the shittest car possible that works.

I love turning up on the school run in the banger and slapping it in the middle of all the Chelsea tractors. Even better that it is never washed as well.

Unbelievable the number of people that look down on you because of the car that you drive. I guess that encourages people to buy cars they simply can’t afford and get finance.


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Click to expand...

This makes me chuckle, I had a written off van which I bought back from the insurance company as id had it from new so I knew it would be trouble free for some years..... I pulled up to one of the finest fish restaurants in Essex in it to meet my wife who was there in her newer car. I jumped in her car and said hey as I watched people pull in next to the van then reverse out and park elsewhere. (in all fairness I wouldn't have parked next to it)
My wife also had to use the same van to pick up a friend to go out for an evening drink as their Ferrari and XC90 were both in for repairs. I kept if for 3 years lol
 
CatmanV2

CatmanV2

Member
Messages
48,836
Oliver6796 said:
This makes me chuckle, I had a written off van which I bought back from the insurance company as id had it from new so I knew it would be trouble free for some years..... I pulled up to one of the finest fish restaurants in Essex
Click to expand...

Smith's?

C
 
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