Ordered a viper green scirocco!

[Irish_Tom]

Snip

I'm not trying to ram anything down anyone's throat, oooerr. I would buy new every time if I could.

My comment was based on your previous post, which I quoted, that said we should laud those people who are prepared to stomach the 'cost' of depreciation so that we can get nearly-new cars at a much better cost.

the point I was making was that the OP didn't strike me as one of those people. Based on his comments, it seemed to me that he hadn't considered the implications of the deal he had signed, certainly not enough to make a conscious decision to write off the depreciation as the 'cost' of getting a brand-new car.

 

[Fr0dders]

But at least its HIS same second hand car. That's basically how people climb the motoring ladder.

This whole leasing things works best for business, but **** it, when it comes to forums you really might as well say if he's happy, good.

You cant make someone drink once you hand them the glass.

your electricity and gas bill is never yours though ?

You stop paying it, they take it back off you. Your effectively constantly leasing the use of it.

it depends entirely how you look at it. If you look at it as another expense, another monthly bill for using a service, it doesnt matter its not yours.

 

[GravyMonster]

Yes, but assuming you don't want to live without light and heat, you haven't got a choice.

 

[DM]

your electricity and gas bill is never yours though ?

You stop paying it, they take it back off you. Your effectively constantly leasing the use of it.

it depends entirely how you look at it. If you look at it as another expense, another monthly bill for using a service, it doesnt matter its not yours.

I agree its all down to the person, but as people have said before some things are just a bad idea even if the individual cant see it.

All im saying is that in this case and cases like it, its a done deal, he probably wont make the same mistake twice, so no point harping on and on.

This fella was given good if harsh advice, shame he didnt post before signing up, but once its gone this far i personally think its time to smile and nod

 

[Sagalout]

I find the best way to think about it is to imagine you'd spent 3 or 4 years saving up £22k. You now have that hard earned cash sitting in your bank account and want to go car shopping. Would you still spend it on the new 1.4 Scirocco, or would you look at a 6 month old version knowing you'd have a good few K left in the bank? Or maybe still blow the £22k but on a 3 year old car tht originally cost over £30k?

If the answer is still the 1.4 Scirocco then go ahead and get it. If the answer is something else then you're probably buying it for the wrong reasons.

I'm with Fox on this - too many people only look at the monthly payment. Its the same amount of money you have to earn to pay out £22k on a monthly finance deal or as hard cash. Its an awful lot of money so make sure you really are buying a car that you absolutely love rather than compromising just for the monthly payment.

 

[Demon]

I'm not trying to ram anything down anyone's throat, oooerr. I would buy new every time if I could.

My comment was based on your previous post, which I quoted, that said we should laud those people who are prepared to stomach the 'cost' of depreciation so that we can get nearly-new cars at a much better cost.

the point I was making was that the OP didn't strike me as one of those people. Based on his comments, it seemed to me that he hadn't considered the implications of the deal he had signed, certainly not enough to make a conscious decision to write off the depreciation as the 'cost' of getting a brand-new car.

I got your point, I just don't see the logic in it..

We all know it's preferable to have something to 'show' for it at the end of 3 years, but which ever way he went he'd largely pay the same amount per month out of his income, so would lead the exact same lifestyle no matter what choice he made, whether stretched or not..
Obviously after the 3 years, then of course, having some 'asset' is nice, and gives you different options to being back at sqaure one, but I am not seeing the 'he can't really afford to' aspect.

 

[[TW]Fox]

Why do the new car lovers always pretend the used alternative is some sort of tatTy old wreck? Demon is worst for this. The used alternative is 6-12 months old and still smells and feels brand new. I have driven various brand spanking new cars and 6 month old ones and they are indistinguishable.

 

[antijoke]

Other than the mileage on the clock.

 

[NathanE]

Why do the new car lovers always pretend the used alternative is some sort of tatTy old wreck? Demon is worst for this. The used alternative is 6-12 months old and still smells and feels brand new. I have driven various brand spanking new cars and 6 month old ones and they are indistinguishable.

My car is a 06 plate and still has the new car smell. It's great. Admittedly, just 3500 on the clock helps that.

But yes, I know of several people where they simply can't ever contemplate a 2nd hand car purchase. The thought just never crosses their mind. And they look down upon others who do buy 2nd hand cars as though the car is a 'lesser machine' than if it were bought new. It's like they view it as "cheating" the system. It's bizarre!

 

[Demon]

My car is a 06 plate and still has the new car smell. It's great. Admittedly, just 3500 on the clock helps that.

But yes, I know of several people where they simply can't ever contemplate a 2nd hand car purchase. The thought just never crosses their mind. And they look down upon others who do buy 2nd hand cars as though the car is a 'lesser machine' than if it were bought new. It's bizarre!

I don't get this at all..

I know lots of people with new cars, they don't look down on me, I've never felt they do, we have high end cars in work, all newly leased, the guys are down to earth, they actually admit that having a cheap knacker to get to work and back is quite desirable on many levels..

I think some people sound like they have a chip on their shoulder and put up these barriers about new car owners..

 

[NathanE]

I don't get this at all..

I know lots of people with new cars, they don't look down on me, I've never felt they do, we have high end cars in work, all newly leased, the guys are down to earth, they actually admit that having a cheap knacker to get to work and back is quite desirable on many levels..

I think some people sound like they have a chip on their shoulder and put up these barriers about new car owners..

Not me sir. I've owned (not leased) a new car in the past. So I am able to see it from both sides of the fence.

I was just saying that I do know a couple people that seem to think in the way I described. I'm not thinking of anybody here so don't worry

 

[Demon]

Why do the new car lovers always pretend the used alternative is some sort of tatTy old wreck? Demon is worst for this. The used alternative is 6-12 months old and still smells and feels brand new. I have driven various brand spanking new cars and 6 month old ones and they are indistinguishable.

Now you are totally wrong.. so wrong you couldn't be wronger if your name was Mr Wrong, living in Wrong Street, Wrongs-ville, WR0 NG

Firstly, being pedantic, a £20K new car isn't going to be £12K at 6-12 months as in the OP's example.

Secondly, where have I remotely even every said anything that remotely can be construed as your false accusation?

I actually have owned only 1 new car, 1 new bike, but massively more second hand cars/bikes ranging from 3 years to 18 years old, I am very much of the opinion that a good 10 year car is perfectly serviceable.. and have a 7 year old car I use to commute to work, I am happy that it'll last the course.

People like new cars for all sorts of reasons, warranty, newer designs, only having themselves as the owner, and yes, some do have the belief a car gets old/tatty/worn in 5 or 6 years..

Just because you can't make sense of diesel cabrio's/new cars and the like, just means you lack the comprehension to understand other people, and your default stance is to brand them idiots..

You flat out refuse to accept that anything about a new car can possibly be enticing/rewarding for a person, which leads you to your default stance on everything you can't understand, they must be idiots..

I myself, operate in what you would call a sensible way, I don't waste money un-necessarily, most of my purchases can be easily justified to most people without issue, but I've been through the whole "I dont' understand why people buy PC's from retail parks, or new cars, or diesel cabrio's, or anything else", but came to the conclusion that I didn't know enough about people to understand it, and in talking to people, I've seen how happy they are making the decisions and living their lives the way they do, so I don't feel compelled to tell them they are idiots and should do exactly what I would do in their situation, because it'll magically make their lives better or something.
As I've said before, I do try and educate people when I see them 'wasting' money or making seemingly poor decisions, I just don't imprint ASDF on their foreheads as my opening gambit.

 

[Demon]

Not me sir. I've owned (not leased) a new car in the past. So I am able to see it from both sides of the fence.

I was just saying that I do know a couple people that seem to think in the way I described. I'm not thinking of anybody here so don't worry

I sadly know lots of weird people, people that have 318i's debadged and laud up how they could never have anything other then a premium german branded car as the air of quality is simply sublime.. Luckily I have friends with high end beemers that show me they aren't all like that...

 

[Fr0dders]

Just because you can't make sense of diesel cabrio's/new cars and the like, just means you lack the comprehension to understand other people, and your default stance is to brand them idiots..

Sadly this is completely true.

Fox if your reading this, you really could do with just accepting people have different viewpoints to you instead of labelling anybody that has a viewpoint you cant understand an idiot.

Its like your MPV hatred, just because you don't want the extra convenience they afford, doesnt mean others cant want it either.

 

[TangoSixteen]

Hang on here.....

With this deal is he effectively paying the depreciation hit for VW and making them some money when they sell it on at the end of the lease?

If he is paying the depreciation plus more, and VW rake in another £12K at the end, then clearly this is silly and the OP could have bought it himself and saved money...

If he is paying LESS than the cars depreciation over the term, then this could be argued is a more sensible approach to running a 10 plate car surely?

 

[Relentless81]

The irony is, if people didnt buy new there wouldnt be any second hand cars

 

[Demon]

Hang on here.....

With this deal is he effectively paying the depreciation hit for VW and making them some money when they sell it on at the end of the lease?

If he is paying the depreciation plus more, and VW rake in another £12K at the end, then clearly this is silly and the OP could have bought it himself and saved money...

If he is paying LESS than the cars depreciation over the term, then this could be argued is a more sensible approach to running a 10 plate car surely?

It's nearly as bad as that in principle.. it's always stacked in their favour..

You can technically pay the balloon payment (somehow), then sell the car, hopefully re-coup a little more of course.. but most don't, you need good haggling skills, which you'd think wouldn't be the case, as if you can haggle like that, surely you'd find a better way of doing it.

it really is best as seen as 'renting'....

 

[Demon]

The irony is, if people didnt buy new there wouldnt be any second hand cars

And BMW wouldn't be what it is today if people didn't PCP/Lease*..






*I could be wrong, but I don't know of anyone who buys a BMW outside of PCP/Leasing, and that's quite a few people

 

[Irish_Tom]

I got your point, I just don't see the logic in it..

We all know it's preferable to have something to 'show' for it at the end of 3 years, but which ever way he went he'd largely pay the same amount per month out of his income, so would lead the exact same lifestyle no matter what choice he made, whether stretched or not..
Obviously after the 3 years, then of course, having some 'asset' is nice, and gives you different options to being back at sqaure one, but I am not seeing the 'he can't really afford to' aspect.

I don't think I said that he couldn't afford to do it. I said I don't think he understood the implications of what he was paying for until it was explained to him in this thread.

One of those implications is that he was effectively paying for the depreciation on someone else's car. Just because he could afford the monthly repayments doesn't mean he should, especially when he didn't seem to even realise he was doing it.

That's why I said he doesn't come across as 'one of those people'. Not because he can't afford to do it, but because he didn't even realise he was doing it.

 

[Demon]

I don't think I said that he couldn't afford to do it. I said I don't think he understood the implications of what he was paying for until it was explained to him in this thread.

One of those implications is that he was effectively paying for the depreciation on someone else's car. Just because he could afford the monthly repayments doesn't mean he should, especially when he didn't seem to even realise he was doing it.

That's why I said he doesn't come across as 'one of those people'. Not because he can't afford to do it, but because he didn't even realise he was doing it.

If your interpretation is that he wasn't aware of what PCP is, then of course, that opinion is quite valid ..

Just a small point.. When you say "paying for the depreciation on someone else's car", you do know it's not actually a complete 'rental'.. you have option to buy at the specified balloon payment value... which should hopefully be a bit below market value, and it is yours.. it's like Hire Purchase (HP) or any loan that is secured on the vehicle, it's not 'yours' until you pay it off, so largely you are paying for depreciation on a vehicle you don't own, but that's being a little pedantic isn't it?

And, by the time you entered the conversation, the full facts of PCP had been sternly revealed many times, he still seemed to be going for it..