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Post by davidwilson on Oct 14, 2018 13:44:22 GMT
Thanks for all of your replies. It looks like my son in law will now buy a cheaper car.
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Post by phaeton on Oct 14, 2018 14:23:00 GMT
My BIL got a new Sportage 3 years ago, he put £4.5K down or rather he allowed his Mini Cooper worth £5.5K to be used as the £4.5K deposit, he's then paid £280 for 36 month, so over 3 years he's paid £14,580 the deal is now up. He's now taken on a Sorento at £320 per month for the next 3 years, I think he's an idiot, but he's happy with the deal, I suppose it keeps up his image by having a new car on the drive. It's his money if he can afford to do it, good luck to him.
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Post by charliefarlie on Oct 14, 2018 17:22:42 GMT
Fools and thier money are easily parted........
Auld Worcestershire proverb that is ........
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Post by Hoovie on Oct 14, 2018 19:31:43 GMT
It's quite surprising how many people have this feeling of needing to compete with their neighbours or colleagues  I've never had any desire to do that personally. When it comes to cars, the most expensive car I have ever bought was my 2011 RAV4. Paid cash for that (well, the Part-exchange plus difference in cash) and the value of that car has paid for my motoring ever since for the last 7 years (and counting). As I have changed cars (3 times since), I've just gone a little cheaper each time (but alway under 6 months old) and enjoyed every one  |
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Post by phaeton on Oct 15, 2018 7:14:00 GMT
Your reply got me thinking Hoovie, in 2006 I bought my most expensive car ever, an 18 month old Honda Type-R paid £11,300 cash for it, because I was self employed at the time I also had a van which I went everywhere in. So the Honda was sat on the drive doing nothing, it really caused me grief to see it there so I sold it 6 months later for £11,000. Just looked now & a 18 month old Type-R will cost you £21,000 to £25,000. So in 12 years the price has more than doubled, that is a staggering amount of inflation, whereas my now wages have been virtually stagnant over that period, are car manufacturers having our pants down?
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Post by Hoovie on Oct 15, 2018 20:21:16 GMT
Well, I think the prices have gone up a lot, but OTOH the specifications have increased greatly and a given model gets bigger and bigger each time.
Take a VW Golf .... The original Golf is smaller than the current VW Polo and was missing just about every creature comfort people expect nowadays.
I had a Vauxhall Corsa as a Courtesy Car for a couple of weeks back in 2005 and the quality and spec of that Corsa compared to my 2017 Corsa is like night and day (and back then the Corsa was the smallest model - now there are two more models in the Vauxhall range below the Corsa)
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Post by davidwilson on Oct 17, 2018 20:40:07 GMT
I seem to remember Toyota, and I assume other Japanese manufacturers, put their prices up significantly sometime after I bought my Landcruiser in 2004 due to the exchange rate between the Yen and GBP. I don’t think they ever dropped them back again! I think the price of the LC has probably doubled since then.
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aleman
Club Regular
Posts: 266 
Primary Vehicle: Mini Countryman
Year: 68 - 2018
Model Spec/Trim: S E ALL4 PHEV
Engine Capacity: 1499
Fuel Type: Hybrid
Transmission: Automatic
Drive Type: 4WD/AWD
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Post by aleman on Oct 19, 2018 9:26:06 GMT
I seem to remember Toyota, and I assume other Japanese manufacturers, put their prices up significantly sometime after I bought my Landcruiser in 2004 due to the exchange rate between the Yen and GBP. I don’t think they ever dropped them back again! I think the price of the LC has probably doubled since then. I was surprised when I went in to the Local Mitsubishi dealer at the starting price for a Shogun Sport (Just over £31K) OK so nowhere near as technically advanced or as refined as a LC, but whacking great VFM if you are in the market for a 'real' off roader.
As for PCH/PCP it depends a lot on your circumstances, for me it's a paradigm shift of thinking. I always buy a car, so far always second hand, and generally keep it for 10 years (in the early days it's difficult to beat bangernomics). The '07 RAV has been an eye opener for me in terms of refinement and luxury, but it's getting to the point where things are just starting to wear out. Normally I wait until I've spent a fortune on keeping cars on the road, way past the time I should have got rid and replaced them. I don't have a lot of savings, my Mrs gave up work in May, and we need a newer car, yes I could look at lesser marques like Vauxhall, Ford, Peugeot, Citroen ... BUT I require a car with the seat at hip height to get into ... so it's not then a cheap option, plus hybrid power trains interest me. The odds of getting something like that second hand (while rising isn't good, and also not cheap) So I'm looking at a loan and paying out say £400 a month, plus motoring costs, for 5 years to own a car that when I sell it I'll get £2K for scrappage toward a newer one ... if they allow that against 2nd hand motors ... I can't think of a company that does off hand. So PCP/PCH looks like a viable alternative. Through work I'm lucky in that they offer a perk which is PCH through the NHS Fleet Solutions. One off monthly deduction from salary, and all you do is put fuel in the thing, everything else is taken care of for you. Taking a Outlander 4H PHEV as an example, from Mitsu it's 3 payments up front of £480, and 35 payments of £480 ... OK I could shove that in the bank and use a bike to get around until I can buy the car outright, but a 38K car, would be 79 months of being without a vehicle, or using a car well past it's prive. Through Fleet Solutions, the same car is £418 a month as a salary sacrifice, but taking off everything but fuel (Tax, Ins, Service, Tyres, Repairs, Rescue, etc) that brings it down to around £280 a month ... Ok I don't own the car, and at the end of the period I have nothing 'to show for it' (and that is still a serious inhibiting factor in my mind!), but I paid 13K for the RAV second hand and 6 Years later it's worth what, 1.5K book value.
For me it's not an easy decision, but then I don't understand why people rent houses all their lives, at the end of it what do you have to show ... In Europe renting is the norm, it's only here in the UK where owning you own home is 'aspirational'. In some ways renting a car, makes more sense to me, than renting a house, as it's not going to last forever, without big bills, and time and care, which I don't have. As I say it's a tough decision, but having cleared my mortgage 5 Years ago, and no serious outgoings spending £280 quid a month of what disposable income we have on car 'ownership' isn't necessarily such a stupid thing especially when it's worry free motoring for a car that when it comes down to it, I could never afford to buy.
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Post by phaeton on Oct 19, 2018 9:48:24 GMT
I don't understand why people rent houses all their lives, at the end of it what do you have to show ... In Europe renting is the norm, it's only here in the UK where owning you own home is 'aspirational'.
Not if the current Government stays in power, they are trying very hard to ensure the circumstances prevail where more people will have to rent all their lives.
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Post by charliefarlie on Oct 20, 2018 7:20:41 GMT
I don't understand why people rent houses all their lives, at the end of it what do you have to show ... In Europe renting is the norm, it's only here in the UK where owning you own home is 'aspirational'.
Not if the current Government stays in power, they are trying very hard to ensure the circumstances prevail where more people will have to rent all their lives.
That’s a deep one my mate...... On the face of it it would seem folk can’t afford to save the coin for deposits. Yet all these absolute bloody rubbish houses bieng thrown up get sold mostly off plan. By that I mean before they are even built. ... its a vile place to be for young renters though. Think about it.... The minimum wage that has become THE wage barely covers today’s increasing rents. We really do now more than ever have a tiered society... There is an interesting parallel though if you apply the same logic to buying or renting to houses or cars.. Why would we want to pay rent for all of our lives. The answers the same from me on both areas. No way never........ |
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Post by phaeton on Oct 20, 2018 8:56:54 GMT
That’s a deep one my mate......
It would please their masters very much if everybody rented houses, just think of the revenue stream for the rich
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