That's it for me , I'm out.

[Drago]

Something like 90 plus percent of new cars are leased to some extent. I was in WBAC selling my old car (OK giving it away), and there was a lady in before me, 21 plate Range Rover, walked out with £1k after settling finance. Crikey.

And I dread to think what the deposit she'd had to pay would have been on a car like that.

 

[MichaelW2]

You are supposed to take out a car loan to buy a car, and pay off the £20,000 (+ intetest total £30,000) on an asset that loses £5,000 the moment you put it in gear, and where a Bus-B overload could result in unaffordable repair costs.

 

[Ming the Merciless]

I am pretty sure my current car is the last I’ll own. Cannot see myself owning an electric. I’ll just hire as and when I feel necessary.

 

[fossyant]

And I dread to think what the deposit she'd had to pay would have been on a car like that.

But people have to have the latest and best motor. Some folk are happy to pay £500-£700 a month on a lease to 'get to work'.

Our 'salary sacrifice' car scheme at work, where it seems a good deal, all maintenance and insurance thrown in, folk have not considered the impact on their pension contributions - their pay is less, so the employer is not contributing. Roughly, that £500 lease is losing people £120 a month in employers' pension contributions - over £4k in 3 years. Given that most of the staff 'opting' for the scheme are more 'mature' and higher earners generally, that's a big chunk off your pension at a time when it's 'maxing out' on your 'average salary'.

 

[Electric_Andy]

We were going to trade in both our cars and get 1 newer one, but looking at 5 year old cars (averaging £14k-£16k) it's just not worth it. We'll get mine sold, and get the Mrs' roof repainted and make do. I think private car owners are being priced out, much like smokers, and the manufaturers/dealers are taking full advantage while the sun still shines. There is nothing desireable for me in a new(er) car when they are prioritising R&D on things like lane assist, fancy touchscreens and basically a host of other tech that takes more control and responsibility away from the driver.

As Drago says, I cannot believe the price of HP/PCP on some mundane cars let alone more spicy ones. And after you've paid that (which is also more than my current mortgage) you've still got to insure it and put fuel in.

If you can afford it then that's great...someone's got to buy new!

 

[Dogtrousers]

I've owned 3 cars. None from new. When a combination of ULEZ and rust meant I had to get rid of the last one I was planning to switch to Zipcar but by chance a friend was selling his 9yo Hyundai i10 and we came to a mutually agreeable price.

It's lasting well, despite being 12 years old. I don't know what I'll do when it conks out. I'll have a look at the second hand market for sure.

 

[Badger_Boom]

Social media seems to be full of videos about having 'the' car (as well as 'the' watch and other expensive fripperies). The ones that bogle my mind are the "I've got a £10k deposit and can afford £1k a month - what supercar can I buy?" ones.

 

[grldtnr]

But people have to have the latest and best motor. Some folk are happy to pay £500-£700 a month on a lease to 'get to work'.

Our 'salary sacrifice' car scheme at work, where it seems a good deal, all maintenance and insurance thrown in, folk have not considered the impact on their pension contributions - their pay is less, so the employer is not contributing. Roughly, that £500 lease is losing people £120 a month in employers' pension contributions - over £4k in 3 years. Given that most of the staff 'opting' for the scheme are more 'mature' and higher earners generally, that's a big chunk off your pension at a time when it's 'maxing out' on your 'average salary'.

That's just the point, they don't, it's all one vast game of one up manship driven by Social media influencers, and shady American trading practices.
My Car is 10 yrs old, sitting here rationality I don't actually need it. But for the fact I sometimes tow things, so I keep it for that
I can't easily hire something to tow, and if I did , it would far too big, like a van.
I used my motorbike for longer trips, for shopping ,I walk.

 

[vickster]

I only bought a new car once, a P plate Punto back in 1997, it wasn't much more than a year old ex rental.

I'm probably in the market for a new to me car later in the year, likely an EV, it'll be at least 2 years old, hopefully under 20k miles paid with cash (under £20k). The Hyundai dealer told me one would be daft to buy new given how much they depreciate in the firat year, especially as they stick a new 5 year warranty on approved cars under 3 years old
I could happily afford a new lease but I do so few miles, I'd just be paying the lease company for it to sit on my drive rather than theirs!

 

[Legs]

I've never owned a new car, and never felt deprived. Last new motorcycle was in 1976, and I've owned loads of used ones (loads of fun, too).
Last new bicycle, 2006. Perhaps I've never been overly concerned about such things, and as I've got older I've become even less bothered.
Let those who get a buzz out of shiny new vehicles take the financial hit and depreciation, and let people like me enjoy the benefit a few years down the line. Value for money, definitely. Quality of life, certainly. Less stress, absolutely.

The last new bike I bought (for myself) was a Giant Speeder in 1995 for the princely sum of £320. My parents kindly paid half (I was 13 at the time).
Like this (but with the saddle set at a sensible height):

 

[fossyant]

I only bought a new car once, a P plate Punto back in 1997, it wasn't much more than a year old ex rental.

I'm probably in the market for a new to me car later in the year, likely an EV, it'll be at least 2 years old, hopefully under 20k miles paid with cash (under £20k). The Hyundai dealer told me one would be daft to buy new given how much they depreciate in the firat year, especially as they stick a new 5 year warranty on approved cars under 3 years old

Some good prices on used EV's upto a couple of years old. Way cheaper than the ICE equivalent.

 

[roubaixtuesday]

Always been a mystery to me why anyone would buy a brand new car. Status thing I guess.

Current huge tax incentive for EVs might be an exception.

 

[grldtnr]

I only bought a new car once, a P plate Punto back in 1997, it wasn't much more than a year old ex rental.

I'm probably in the market for a new to me car later in the year, likely an EV, it'll be at least 2 years old, hopefully under 20k miles paid with cash (under £20k). The Hyundai dealer told me one would be daft to buy new given how much they depreciate in the firat year, especially as they stick a new 5 year warranty on approved cars under 3 years old
I could happily afford a new lease but I do so few miles, I'd just be paying the lease company for it to sit on my drive rather than theirs!

Beware the fork tongued snake oil salesman , they tell you what you want to hear...
Am Oxymoron surely , a honest salesman?

 

[vickster]

Some good prices on used EV's upto a couple of years old. Way cheaper than the ICE equivalent.

Indeed, front runner is Hyundai kona (need to drive one though!)

 

[vickster]

Beware the fork tongued snake oil salesman , they tell you what you want to hear...
Am Oxymoron surely , a honest salesman?

Well I have no reason to disbelieve someone telling me to spend significantly less money!