Soldato
Nope, don't think I ever will either. Can't see the point in owning such an expensive depreciating asset.
Poll: Do you actually own your car?
- Thread starter /\ndy
- Start date
Lease the E Class, some finance on the R8 but big deposit so nice fat chunk of equity even at current rates and own some MX5’s outright....and some houses, which oddly has nothing to do with my forum name
Baller
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
Why do people say this? I know it sounds really intelligent and financially astute but letting someone else own an expensive depreciating asset and then paying them for the depreciation isn't really much different is it.
Soldato
Yes, Cayman S
Soldato
This. Everyday.
The only reason I can see people doing this is that their cash can earn them more invested elsewhere beating the % rate of finance.
Soldato
- Joined
- 19 Oct 2008
- Posts
- 5,951
I'm surprised the owned figure is so high, I thought it would be more like 20% owned, 80% on some sort of financial loan.
Me I own outright my 2004 Yaris 1.0 worth about a grand! Impressive huh? I use that on the ladies all the time
. Im single
Actually also own a BMW X1 that I bought just a few months old and had this since 2012. Have only borrowed once to buy a car and that was when I wanted to keep my old BMW E30 M3 too and needed a commuter so picked up a diesel.
Since 2006 have owned a few BMW Z4's nearly new, including a Z4 M Coupe. Damn I wish I kept that car sometimes. E46 M3 engine in the Z4 coupe stiff body with some CSL bits as standard, nice!.
Me I own outright my 2004 Yaris 1.0 worth about a grand! Impressive huh? I use that on the ladies all the time
. Im single Actually also own a BMW X1 that I bought just a few months old and had this since 2012. Have only borrowed once to buy a car and that was when I wanted to keep my old BMW E30 M3 too and needed a commuter so picked up a diesel.
Since 2006 have owned a few BMW Z4's nearly new, including a Z4 M Coupe. Damn I wish I kept that car sometimes. E46 M3 engine in the Z4 coupe stiff body with some CSL bits as standard, nice!.
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I’m so bad I’d forgotten I also own a VW Up too, though I purchased it outright for my mother as a gift so I guess it’s technical hers.
Took for MOT other day as was due it’s first or second can’t remember. Housey I think needs to try an Up as Polo is nothing in comparison!
should have taken it VW for MOT really and blagged an GTI for test drive.
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I'm surprised the owned figure is so high, I thought it would be more like 20% owned, 80% on some sort of financial loan.
Me I own outright my 2004 Yaris 1.0 worth about a grand! Impressive huh? I use that on the ladies all the time
Actually also own a BMW X1 that I bought just a few months old and had this since 2012. Have only borrowed once to buy a car and that was when I wanted to keep my old BMW E30 M3 too and needed a commuter!
Since 2006 have owned a few BMW Z4's nearly new, including a Z4 M Coupe. Damn I wish I kept that car sometimes. E46 M3 engine in the Z4 coupe stiff body with some CSL bits as standard, nice!.
Some of us hate finance!
When I was buying the Jaaag the dealership was trying to suggest I don’t need to pay so much upfront.
Of course I did to reduce interest, monthly payment and final balloon, that’s why I pay under £500 per month and once my Vegas trip is out the way and as long as I don’t blow all my cash on gambling, hookers, supercars, guns and alcohol I’ll be settling up and owning the SVR outright too meaning all the cars are owned.
Plus it means if I decide to buy something really nice next year in the 100-150k region it’s would be nice to put 100k down and then just finance 30-50k the traditional way with no balloon or just take bank loan or re-mortgage style loans for even better interest rate but we shall see as current values dropping anything under 100k I’ll buy outright. I just like my wage to be well all mine for saving, spending and taking nice holidays and weekends away or car parts lol.
OPs statement a few posts above gave a reason for starting the poll.
‘I read that over 90% of new car purchases (or even nearly new) are either on PCP or HP, was interested to see how that stacks up against this forum. ’
So yes it is skewed by testing a statement about new cars by asking about all cars ?
Soldato
Yes, 2006 and 2018 Mustangs. Have always bought cars outright much to the disappointment of the dealerships.
Soldato
Yes own all the cars in the household outright
2010 Toyota Avensis
2012 Suzuki swift sport
1996 Subaru impreza WRX
1998 Rover Mini
Look at me the big spender
I have had finance in the past, HP on a new ford focus in 2006 and then a personal loan for my Integra but i try and avoid it nowadays if possible.
2010 Toyota Avensis
2012 Suzuki swift sport
1996 Subaru impreza WRX
1998 Rover Mini
Look at me the big spender
I have had finance in the past, HP on a new ford focus in 2006 and then a personal loan for my Integra but i try and avoid it nowadays if possible.
This is where so many people go wrong. Really your deposit should be bigger than the drive away depreciation or else you’re going to be in trouble on any early bail out.
Finance allows for the curve and that’s fine but most people then wonder why when they need to get out early they are so out of pocket, even more so when they buy at overs. All fool them really, finance is not a ‘get expensive cheap’ but so many view it as that and then wonder why they owe big when the wind changes. Don’t buy expensive stuff like that you could get burnt big. Big chunk in to cover your backside and that year 1 depreciation is vital unless you fix lease on a short term.
My RS4....damn that was ugly when I bought the car off the finance company!
Soldato
- Joined
- 22 Aug 2004
- Posts
- 7,606
Soldato
When I used to drive I would buy a Cheap 2nd hand car for £500 every couple of years or so. OK I didn't get the latest tech but I had some great cars and I got great value from them. Had to give up my car when I moved into a the city.
Soldato
- Joined
- 11 Sep 2013
- Posts
- 12,310
NVM
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Indeed. #GIGO comes to mind.
(Just like the remain/leave question was... #trigger
)
Soldato
Stop it! You know what I mean
In case you don't I paid less over the term than the car lost in value so I beat the depreciation it would have incurred over the time period if I had bought or financed the car in another way sorry for the explanation I'm sure it was a joke kthnxbai
Some of us hate finance!
When I was buying the Jaaag the dealership was trying to suggest I don’t need to pay so much upfront.
Of course I did to reduce interest, monthly payment and final balloon, that’s why I pay under £500 per month and once my Vegas trip is out the way and as long as I don’t blow all my cash on gambling, hookers, supercars, guns and alcohol I’ll be settling up and owning the SVR outright too meaning all the cars are owned.
Plus it means if I decide to buy something really nice next year in the 100-150k region it’s would be nice to put 100k down and then just finance 30-50k the traditional way with no balloon or just take bank loan or re-mortgage style loans for even better interest rate but we shall see as current values dropping anything under 100k I’ll buy outright. I just like my wage to be well all mine for saving, spending and taking nice holidays and weekends away or car parts lol.
Not that I don't love the minute details of your financial life and enjoy that you're such a baller but you have to remember that the general demographic in the big wide world is just not up there with you and crinkleshoes so you might want to have a little more tact when dropping your dong in public.