FlaFFy_91
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Registered: 30th Sep 08
Location: Formby, Merseyside
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quote:
Originally posted by A2H GO
What are they new, £19-20k? And after two years a quick look on AutoTrader says £11k so £9k loss.
This deal over two years (putting down 6 months) at £4410 represents a huge ‘saving’ over buying a new one 'cash'.
Even if you bought the two year old one now for £11k, I bet you’d loose £4k in the next two years and have to pay if anything breaks, might as well have a new one.
[Edited on 06-05-2014 by A2H GO]
Yes but after two years you've got a car worth 11k to sell or to keep
With a lease or what ever after two years all you've got is a receipt for 10k (or how ever much it is) and the option to put another deposit down...
It's not for me tbh is rather own a car than rent it. Same as renting a flat. Hence why I'm currently saving up for a mortgage as renting is just pissing money away really.
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James
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Registered: 1st Jun 02
Location: Surrey
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quote:
Originally posted by FlaFFy_91
quote:
Originally posted by A2H GO
What are they new, £19-20k? And after two years a quick look on AutoTrader says £11k so £9k loss.
This deal over two years (putting down 6 months) at £4410 represents a huge ‘saving’ over buying a new one 'cash'.
Even if you bought the two year old one now for £11k, I bet you’d loose £4k in the next two years and have to pay if anything breaks, might as well have a new one.
[Edited on 06-05-2014 by A2H GO]
Yes but after two years you've got a car worth 11k to sell or to keep
With a lease or what ever after two years all you've got is a receipt for 10k (or how ever much it is) and the option to put another deposit down...
It's not for me tbh is rather own a car than rent it. Same as renting a flat. Hence why I'm currently saving up for a mortgage as renting is just pissing money away really.
Read the post that you quoted again. Buying new loses you £9k. Leasing loses you £4410. The £11k of value in the car is irrelevant, we are comparing how much you lose over the first 2 years and the lease is the much better deals.
Properties don't depreciate in the same way as cars so you can't really compare the two.
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FlaFFy_91
Premium Member
Registered: 30th Sep 08
Location: Formby, Merseyside
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Yes you do loose more in two years buying. But at the end of it you have nothing. That's my point. I'd rather own something than borrow it.
Just putting in my 2 pence is all.
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Eck
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Registered: 17th Apr 06
Location: Lundin Links, Fife
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As said, it can't really be compared to a house because houses usually don't depreciate.Cars (especially Vauxhalls) lose thousands within yards of the forecourt.
Besides, you don't exactly own the car until you've paid off the £20k anyway.
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James
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Registered: 1st Jun 02
Location: Surrey
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quote:
Originally posted by FlaFFy_91
Yes you do loose more in two years buying. But at the end of it you have nothing. That's my point. I'd rather own something than borrow it.
Just putting in my 2 pence is all.
If I said to you, you can loan me £20k and after 2 years I'll give you £11k back, or you can lend me £4.5k and after 2 years I'll give you nothing back, would you take the first option because it means you'll have £11k of what was yours in the first place left over?
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Steve
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Registered: 30th Mar 02
Location: Worcestershire Drives: Defender
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Which begs the question, if the cost is cheaper than depreciation, how is the lease company making money
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3CorsaMeal
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Registered: 11th Apr 02
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The price is made up to suit, thats the whole rip off, Corsa VXR is a £4-5k car, the rest is just made up numbers to make people feel they are getting a special deal.
What happens if these finance, rental, pay monthly companies go under, does someone come out and reclaim their car from you?
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pow
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Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
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I'd just rather not have the £xxx leaving my account every month - plus the model only works if you change cars every 2/3 years, when I bought the Alfa it was a long term investment that won't carry on loosing value at the rate it has done already
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Ian W
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Registered: 8th Nov 03
Location: Wirral, Merseyside
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quote:
Originally posted by pow
I'd just rather not have the £xxx leaving my account every month - plus the model only works if you change cars every 2/3 years, when I bought the Alfa it was a long term investment that won't carry on loosing value at the rate it has done already
I'm the same, the thought of £xxx leaving my account every month for so long no longer appeals to me like it did when I was young and reckless 
Until I buy myself something older than should increase in value I can't see me ever spending more than 5k on a daily car again.
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Corsa_Sport21
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Registered: 13th Apr 08
Location: Leven, Fife. Drives : 205 GTi
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Why does the "renting a house" debate always come into it??
For a lot of people, not renting a house isn't an option whereas leasing a car is. You need a roof over your head but you don't need a leased car sitting on the drive.
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willay
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Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
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I'd love to lease a car, its quite simple maths as quoted by Jambon and co. Its just the British mentality of MUST OWN, CAN'T RENT, MUST MUST OWNNN.
[Edited on 07-05-2014 by willay]
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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quote:
Originally posted by A2H GO
What are they new, £19-20k? And after two years a quick look on AutoTrader says £11k so £9k loss.
This deal over two years (putting down 6 months) at £4410 represents a huge ‘saving’ over buying a new one 'cash'.
Even if you bought the two year old one now for £11k, I bet you’d loose £4k in the next two years and have to pay if anything breaks, might as well have a new one.
I'm the other way entirely as I don't even want to lose £4k, let alone £9k in 2 years. I've lost about £2k on the car I bought nearly 4 years ago and I hate that I've 'lost' any money at all.
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3CorsaMeal
Member
Registered: 11th Apr 02
User status: Offline
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quote:
Originally posted by willay
I'd love to lease a car, its quite simple maths as quoted by Jambon and co. Its just the British mentality of MUST OWN, CAN'T RENT, MUST MUST OWNNN.
[Edited on 07-05-2014 by willay]
Imo its the new attitude of every thinking they can have what they can't afford, a chap in a pub told me this, its too easy for kids to get what they want these days.
People don't need brand new cars, its only their ego that does.
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James
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Registered: 1st Jun 02
Location: Surrey
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No-one needs a brand new anything.
Why do you buy brand new clothes? You don't need them...
Ridiculous argument.
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Corsa_Sport21
Member
Registered: 13th Apr 08
Location: Leven, Fife. Drives : 205 GTi
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What if you grow out of your old clothes?? I would say in that case you need new clothes.
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
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I'm not sure you grasped what James is saying.
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spencer88
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Registered: 6th Oct 08
Location: cornwall
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quote:
Originally posted by Corsa_Sport21
What if you grow out of your old clothes?? I would say in that case you need new clothes.
Or you could go to the second hand shop and buy older clothes which can still be worn and are in good condition.
Similar to cars.....
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
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quote:
Originally posted by Steve
Which begs the question, if the cost is cheaper than depreciation, how is the lease company making money
As 3CM says, knowing very few people will ever pay cash for a new car, the list price is massively inflated to start with making PCP/lease deals look more attractive.
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Jambo
Member
Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
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quote:
Originally posted by A2H GO
quote:
Originally posted by Steve
Which begs the question, if the cost is cheaper than depreciation, how is the lease company making money
As 3CM says, knowing very few people will ever pay cash for a new car, the list price is massively inflated to start with making PCP/lease deals look more attractive.
Some lease deals are subsidised by the VM to push certain models increase market share or whatever their reason. Just like Supermarkets do and a lot of businesses when they have a sale etc.
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3CorsaMeal
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Registered: 11th Apr 02
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Who buys old clothes though?
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spencer88
Member
Registered: 6th Oct 08
Location: cornwall
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quote:
Originally posted by 3CorsaMeal
Who buys old clothes though?
People.
I know loads of people who buy second hand clothes. Generally designer stuff for fuck all
Some people out there probably question why people buy second hand cars.
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Corsa_Sport21
Member
Registered: 13th Apr 08
Location: Leven, Fife. Drives : 205 GTi
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And who buys clothes on tick.
What if you can't get clothes in the style/size you want from 2nd hand shops or whatever??
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3CorsaMeal
Member
Registered: 11th Apr 02
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Because a new car can lose you thousands of pounds within a year.
Buy a £100 jumper and it will last longer than a new corsa, never had to do a paperclip test on any of my clothes.
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
User status: Offline
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spencer88
Member
Registered: 6th Oct 08
Location: cornwall
User status: Offline
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quote:
Originally posted by spencer88
quote:
Originally posted by 3CorsaMeal
Who buys old clothes though?
People.
I know loads of people who buy second hand clothes. Generally designer stuff for fuck all
Some people out there probably question why people buy second hand cars.
What happens if you can't find a second hand car that fits your spec and will be reliable and not have repair bills every month? (for example only)
You go and buy a new one, where you can afford the payments.
It is horses for courses. I see no issue with people getting a lease car, or buying a second hand one.
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