The largest Civic Type R club forum

[Magnificent_one]

You're right, if you can afford it why not. That's why i said it depends on age (most of the time). Don't see many youngsters driving a +50K car they bought themselfs.
When i'm 40 i hope to be able to afford it too. Will start with a fun car in the "carhole" when i'm 30 and the house is built.

[EvoStu]

You're right, if you can afford it why not. That's why i said it depends on age (most of the time). Don't see many youngsters driving a +50K car they bought themselfs.
When i'm 40 i hope to be able to afford it too. Will start with a fun car in the "carhole" when i'm 30 and the house is built.

To be fair you can buy a £35K M135i from BMW right now for £379 a month. :bigthumb:

A £50K car on a similar purchase is around £589.00 so not massively different. A youngster living at home with no mortgage to pay and a semi decent job, easy peasy.

[Superman001]

The never never monthly payments
I wonder how many people actually have the cash to buy a 50k hot hatch outright?

I know if I was smart enough to be in the position to be able to comfortably spend that on a hatchback I wouldn't be spending every last penny I had. So if I was this really smart guy buying this hatchback for 50k I would have plenty of money left over in the bank, probably the same amount again say 50k, who has 100k of disposable income? If you did you wouldn't want to spend half your savings on a hatchback

So really unless you are a very rare individual with a minimum of 100k disposable income that just happens to like hatchbacks this 50k hatchback is purely aimed at people that can not afford to buy them outright

[pulpmelon_r]

There are still some people left in the world that think paying interest on a depreciating asset is double stupid.

In light of the UK's record levels of consumer debt, not as many as there should be.

[Jules]

Why would anyone buy a car outright at that price? Makes no sense now with very good lease deals and finance options. If you don't mind paying more than that over a time to enjoy the car then it makes sense. Other than willy waving points I don't see the benefit of saving for a few years to buy a car if you can afford it monthly. If you are buying it on some stupidly high rate only to own a car you can't really afford then that is another story. I won't be buying my cars outright any more, I still lost on it with depreciation anyway.

[brucelee11271940]

Why would anyone buy a car outright at that price? Makes no sense now with very good lease deals and finance options. If you don't mind paying more than that over a time to enjoy the car then it makes sense. Other than willy waving points I don't see the benefit of saving for a few years to buy a car if you can afford it monthly. If you are buying it on some stupidly high rate only to own a car you can't really afford then that is another story. I won't be buying my cars outright any more, I still lost on it with depreciation anyway.

So your option would be a deposit or some for the cash, say £10k and finance the rest?

[Superman001]

There in lies the problem with society today, everything on the never never payments so they can have the latest things.

No wonder consumer debt is at an all time high, people could afford to buy a car like this for cash if they bought it when its a few years old and most the depreciating has happened but people want new things all the time even when they can't afford to pay for them outright.

[Superman001]

There are still some people left in the world that think paying interest on a depreciating asset is double stupid.

In light of the UK's record levels of consumer debt, not as many as there should be.

I do think its a bit crazy paying interest of something thats depreciating, mind you theres people buy cars on finance, computers, holidays, kitchens etc. The only debt im semi comfortable with is my mortgage.

[Jules]

There in lies the problem with society today, everything on the never never payments so they can have the latest things.

No wonder consumer debt is at an all time high, people could afford to buy a car like this for cash if they bought it when its a few years old and most the depreciating has happened but people want new things all the time even when they can't afford to pay for them outright.

If people only bought cars new with money they had the car market would crash though. If you can afford the interest and the monthly payments then finance is not a case of having the newest thing first, but more a case of owning something you could afford in 3-4 years but can have now. You can also change every few years and just hand it back if you want as well. If people are buying it because they can just about stretch to £3-400 a month payments, but could never afford the car, then that is stupid.

[pulpmelon_r]

http://www.debttolife.com/5-financial-d ... -you-broke

[Jules]

That's just a link for poor people

[pulpmelon_r]

I will never tell anyone what they should or should not do with their resources.

I'm simply voicing my opinion and sharing my values.

[Superman001]

http://www.debttolife.com/5-financial-d ... -you-broke

I think that sums up most of the UK to be honest.

I get by ok each month on what I earn and only have a 60k mortgage which was reduced from 23 years left to pay to 16 years by paying just £22 extra a month. I gave up smoking a year ago and drink very little, have no holidays abroad and my 2 Honda Accords are old and paid for with cash.

There are guys I work with that earn the same but have 120-170k mortgages, 20k car on finance, go out drinking every weekend, smoke, 1-2 holidays a year and have a child or 2 and I can't help but think they must have a shed load of personal debt.

[billster]

http://www.debttolife.com/5-financial-d ... -you-broke

Interesting reading- mostly obvious but some of it a bit close to home! Must try harder saving....

[dandemoraliser]

Impressions on current S3 which audi no doubt will be building on

[shaRRpy]

http://www.debttolife.com/5-financial-d ... -you-broke

I think that sums up most of the UK to be honest.

I get by ok each month on what I earn and only have a 60k mortgage which was reduced from 23 years left to pay to 16 years by paying just £22 extra a month. I gave up smoking a year ago and drink very little, have no holidays abroad and my 2 Honda Accords are old and paid for with cash.

There are guys I work with that earn the same but have 120-170k mortgages, 20k car on finance, go out drinking every weekend, smoke, 1-2 holidays a year and have a child or 2 and I can't help but think they must have a shed load of personal debt.

That sounds like a riveting life.

[Jules]

That's what I thought, at least those guys at work enjoy their life. I would rather live in debt than exist with money in the bank.

[Superman001]

That's what I thought, at least those guys at work enjoy their life. I would rather live in debt than exist with money in the bank.

I don't have money in the bank I just don't have lots of personal debt. I enjoy cars, the gym, cooking and films but you seem to think because I don't drink every weekend, smoke and have cars I can't afford that my life is in some way boring?

I don't think it is, I personally think self abuse and having lots of debt is a boring life.

[J@mes]

That's what I thought, at least those guys at work enjoy their life. I would rather live in debt than exist with money in the bank.

+1.

They're enjoying life. You're almost a nervous wreck

[skinnyman9000]

Buying new isn't always financially a bad choice. Obviously at the totally opposite end of the scale, but my sister is looking at a Fiat 500 on PCP. £99 down & £99/mth. Given its £30/yr tax, will be in warranty, no repair bills, no mots, no tyres etc I doubt you could run a 2nd hand car for less.