Poll: Do you actually own your car?

[LoadsaMoney]

Yes, VW Scirocco 2.0

 

[Blackhawk47]

Yes the most striking one was from several years ago when the Scirocco was new and I had a customer who was comparing it to a Merc CLC. They were amazed that with their £2k deposit the scirocco was going to be £400pcm as merc had quoted them £195pcm, the deal they were offered on a merc CLC was £5k Deposit from Merc £2k from them and then a 4yr PCP at 10.9% APR with an £18k final payment for a £26k car. That example is pretty extreme but on that basis you would have to be mad to actually purchase any Merc CLC with actual money. In general the depreciation risk is too great to justify a cash purchase if the residual offered is above 40%.

This 100%. Also those guys who jumped on the Golf R lease bandwagon got a great deal for a 2 year or so lease.

Leasing does seem to be an attractive option for many people, and I suspect many new cars we see on the roads are leased rather than PCP or traditional HP finance.

Personally I see no point in financing a car worth less than say, £7k. But when we are talking £20k + cars then its a different story.

 

[Lokwyr]

2010 Fiat Panda. 65,000. Change wiper sets annually, one flat tyre & service items as required.
Owned 20+ motors over 50 years. Some good. Some terrible. A couple dangerous. Last one on the never-never a Bond Equipe 2litre GT. (Plastic body on Triumph Vitesse).

 

[iamdjdz]

2018 Mazda CX5 on PCP. Couldn't afford to buy much outright and we're happy with monthly payments. Balloon of just under £12k which we plan on financing so that we will own the car outright. APR is something like 3.5% (edit after mentioning to Mrs) and it's likely we will be under mileage by 2-3k so maybe some equity if we do want to change.

Love the car, however the paint isn't easy to match so hopefully we won't have any major damage self inflicted to pay for. Biggest risk for us.

 

[Sargatanas2511]

Yup, 2014 Fiesta ST2.

 

[Psycho Sonny]

Because something like 90%+of new car purchases are on finance/lease of some description. Having an above average income or wealth doesn't mean you're going to own your car-it often just means you can lease something even better. Hence the proliferation of people driving around in Velars and S5s who wouldn't have a chance of owning them otherwise.

Velars are only £300 A month.

Unless there is a different small range rover.

Bimbo at work is going to hand back her TT for one as it's only £30 more per month.

 

[Psycho Sonny]

Bought mine outright bank transfer.

Wires car we traded in old one and took out a personal loan.

So we own it outright but we still have the loan to pay off.

 

[200sols]

Velars not £300 a month, more like £500 for a base spec.

 

[[TW]Fox]

Velars are only £300 A month.

Unless there is a different small range rover.

Bimbo at work is going to hand back her TT for one as it's only £30 more per month.

You are thinking of the Evoque.

 

[Firestar_3x]

Velars are only £300 A month.

Unless there is a different small range rover.

Bimbo at work is going to hand back her TT for one as it's only £30 more per month.

Interested in a link best i can find is 316 + Vat + 9 months rental in month 1 with a 5k millage limit, the thing is basically parked on your drive all the time.

 

[200sols]

Even an Evoque with any sort of decent spec and mileage limit will be more than £300. More like £350-400 a month with 9 months upfront.

 

[Simon]

They were many months ago but they were poverty spec

 

[Kenai]

, the thing is basically parked on your drive all the time.

Surely that's all that's needed for keeping up with the neighbours though

 

[Simon]

This thread is like do you own you house with some odd answers for yes or no

I would say cash with no loan is owned. Anything else is financed

Not that it really matters anyway

 

[Orionaut]

Hmnn,

When I first saw the thread title I thought it was going to concern a rather deeper philosphical concept of "Ownership"

You know, along the lines that...

The Registration document lists me as the "Keeper" not the owner.

In fact, never having bought either new or SH from a dealer, I cant think of any document in my possession that lists me as the "Owner" of my vehicle.

And off hand, I cant really think of many other situations where the state can arbitrarily confiscate and even destroy my property on a whim and with very little come back if they did so for the wrong reasons.

So, do I actually own my car after all, Or does actual ownership ultimately effectively reside in the state?

 

[200sols]

Not that it really matters anyway

Your right, it really doesnt. But for some reason people seem to feel the need to state their opinion on it, the thread on piston heads is stupid. Seems to be 'well off' people complaining that other people can be driving nice cars.

 

[Psycho Sonny]

Interested in a link best i can find is 316 + Vat + 9 months rental in month 1 with a 5k millage limit, the thing is basically parked on your drive all the time.

Sorry was an evoque and it's not me who got it but bimbo at work.

Think her tt was £320 A month and her bro got a range rover for £350 A month so she was going to do the same that was several months back. So she probably has it by now but she moved jobs and ain't seen her since.

 

[Housey]

Does she have fish lips, big eye brows and an orange face with fake lashes? Standard 350 quid a month school run mum look?

 

[Psycho Sonny]

Does she have fish lips, big eye brows and an orange face with fake lashes? Standard 350 quid a month school run mum look?

fake tan is a must she even came into work on her last day at 2pm because she was busy getting dolled up. she left at 2.30pm for her "hoorah" at the pub.

fish lips is a no. but brows is a yes. she does make up for no fish lips with what must be GG bazooka's.

she's single if you are interested.

 

[Housey]

Couldn’t be less interested