Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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Personally i would rather drive around in an old banger than finance a car.
Quite scary that my two bosses will lease cars up to £600 a month out there own pocket. Apparently they are both on personal leases. I just can't justify it!
What are peoples opinions on this?
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3CorsaMeal
Member
Registered: 11th Apr 02
User status: Offline
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I think most people now days just treat cars like they do a phone. No real attachment to it. Forget the last one as soon as you get a new one.
Not saying I disagree with it. It's not viable for some people to be messing about with an old car.
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John
Member
Registered: 30th Jun 03
User status: Offline
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£600 a month isn't much for a 'boss'.
Don't see the problem with it but other than spanning deals like the m135i over Christmas, they are normally a bit too expensive.
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Ian W
Member
Registered: 8th Nov 03
Location: Wirral, Merseyside
User status: Offline
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If you can afford it then why not?
It's the people who overstretch to get a nice car that give it a bad name!
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Gareth T
Member
Registered: 14th Feb 06
Location: newcastle
User status: Offline
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Ive recently traded my corsa C in for a nissan juke on a lease deal, cheaper than the bank loan I had for the corsa, the last 3 years Ive forked out alot of money to keep it on the road. The juke payments are cheaper, cheaper tax, servicing included, hassle free motoring and change it every 3 years.
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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No different to people renting a house, is it?
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Robin
Premium Member
Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
User status: Offline
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This argument is pointless, I'm with Ben on this, it's not like you think renting a house is a crapnidea and you'd rather live in a doorway, it's no different.
I'd be more than happy driving a brand new car and not having to worry about the repair costs on an old banger if I could afford to lease something half decent.
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corsarooney
Premium Member
Registered: 21st Nov 09
Location: Maidenhead, Berkshire
User status: Offline
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Personally speaking I'd agree that I probably wouldn't have a finance car, don't get me wrong I could probably afford it I just don't fancy have that debt hanging over me as you never quite know what's around the corner.
No problem with the people that so have them, I just don't fancy it myself
Corsa 1.6 sport - 1
1.7 puma engined fiesta - 0
Keeping corsa's on the redline since 2008
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3CorsaMeal
Member
Registered: 11th Apr 02
User status: Offline
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People will love my new car imo. Finance ftw.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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I've got one one lease and another on pcp, it is what it is, if you want to drive new cars pay it, if you don't....don't!
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Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
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If people spend within their means I see no issue.
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Dave
Member
Registered: 26th Feb 01
Location: Lancs
User status: Offline
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Picked up my new car today, first time I've leased one.
After running an older car for a good few years now it's nice not to have the hassle of sorting it out when it breaks, especially as the mrs uses it to get to work, kid to school etc.
A lot to be said for a couple of hundred quid coming out of the bank each month and everything else is taken care of.
If I factor in all costs too (repairs,MOT,tyres,servicing,fuel,insurance) it was less than £50 a month more to have a brand new car rather than my old one, even with the monthly payment. No brainer for what I need I a car.
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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It's got it place, and as discussed here many times before it usually matches depreciation anyway vs buying a new car.
Makes much more sense than renting property does.
Lotus Elise 111R
Impreza WRX STi
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pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline
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Not for me, I hate the thought of owing on a car (or anything other than a house really) I'll probably never buy a new car again though, will buy nearly new/used. I live by the can't afford it can't have it mantra... But I'm not going to talk anyone down who does it... Unless they are loving way outside their means!
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Jason x
Premium Member
Registered: 19th Apr 13
User status: Offline
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quote:
Originally posted by Robin
it's not like you think renting a house is a crapnidea and you'd rather live in a doorway, it's no different.
Id rather live in a doorway, this is why I don't plan on moving out till 35
[Edited on 23-04-2014 by Jason x]
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colonel_g
Member
Registered: 11th Jan 09
Location: Thame
User status: Offline
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Don't see the logic in comparing it to renting a house instead of owning one. A lot of people choose to live at home, or rent because they can't afford a mortgage. If you can't afford a car you can still use public transport. Not really a housing equivalent is there.
Most people rent as they have no other choice. Taking out a car on lease is a choice. Not comparable imo
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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I've found the last 2 time I've went to get a car that deals stacked in favour of the brand new to be untouchable in comparison to anything used.
I got a 14 plate Smax fully maintained (tyres&tax) from ald leasing with no deposit for less per month than a year old used one wit 12k miles & which I'd have to maintain myself.
Why lease.....why wouldn't you!
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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I'd be surprised if that's not somehow offset against tax.
That reason alone would be enough to get one - I'm not massive on losing loads of money buying new but I'll also do it when the time comes instead of giving money away in deductions.
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pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline
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Now there is a different reason, if I could get a car and offset it against the obscene amount of tax that I pay on the pittance of a second income I have I , a 500 or panda or adam for £129 a month etc.
[Edited on 23-04-2014 by pow]
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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Shame you can't invoice your main employer through books, would be worth a pay cut when you consider the benefits.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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It's a personal lease through an employee car purchase scheme, but I'm paye and don't get a company car so no tax avoidance it's just a good deal.
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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I was meaning Andrew's bosses.
If that scheme is the same as the employee bike one then that's also got tax benefits for the employer if it comes out your pre-tax income.
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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quote:
Originally posted by pow
Not for me, I hate the thought of owing on a car (or anything other than a house really) I'll probably never buy a new car again though, will buy nearly new/used. I live by the can't afford it can't have it mantra... But I'm not going to talk anyone down who does it... Unless they are loving way outside their means!
That argument never works pow. Especially when you bought a house 
Hypocrite.
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ed
Member
Registered: 10th Sep 03
User status: Offline
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Houses and cars aren't really comparable. Cars massively depreciate, houses (hopefully) don't.
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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Affordability is subjective. There's pretty much three groups:
1) Those that have enough cash to buy a car outright, but choose to finance it as they would rather keep the money in the bank or invested.
2) Those that don't have enough cash to buy a car outright but can easily cover the repayments and want a brand new car.
3) Those that don't have enough cash to buy the car outright and don't really have enough to cover the repayments, but want a brand new car.
I would only say that the third group can't afford it.
My understanding is that these days, brand new cars on PCP/lease deals can often work out only fractionally more expensive than a nearly new car, in which case it's a no-brainer.
[Edited on 24-04-2014 by James]
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