Losing Faith in VW

[Deako]

I can never understand how people can afford to buy new cars if they earn less than £50k pa . To lost £20k in 3 years equals losing about £130 a week .

I just look at it as another monthly outgoing. I could spend a fortune on a monthly train pass, or spend £300 a month on a loan, or finance. Swings and roundabouts.

Indeed .... I try to keep my monthly outgoings as low as possible ..... But everyones different  

You sound just like my brother, he earns a fair amount over 100k per annum, but won't pay out when it comes to cars (yet he loves them); I know it's sensible, plow all your money into bricks and mortar (he's 35)... but there has to be a point where you enjoy the fruits of your labor, who wants to be driving around in an Astra with a household income over 150k :(

Absolutely. You cant take it with you when you are dead. My wife and i never plan on kids, so we are just going to enjoy our money and hope to have a retirement nest egg. Sell up once we retire and tour the world. If we are phystically capable.

[Leeds s3]

Q1 offers for BMW are still ranging between 3.9% and 5.9% making them competitive particularly with the strong residuals.

At 20k p/a you are always going to have a fairly hefty payment, if your putting in zero cash deposit then select a mileage you will do and hand the car back at the eot.

If you putting in a few £k deposit then set the mileage at 8k (the lowest) as it doesnt make sense to return the car.

Finally if your after a BMW come and see me  

[R32UK]

Q1 offers for BMW are still ranging between 3.9% and 5.9% making them competitive particularly with the strong residuals.

At 20k p/a you are always going to have a fairly hefty payment, if your putting in zero cash deposit then select a mileage you will do and hand the car back at the eot.

If you putting in a few £k deposit then set the mileage at 8k (the lowest) as it doesnt make sense to return the car.

Finally if your after a BMW come and see me  

Which BMW are you at?

I may be coming to see you later in the year 

[Leeds s3]

Stratstone Harrogate but i will be moving to Leeds shortly.

Generally most of our business is done via the web and phone so we cand deliver anywhere in the UK.

[tony_danza]

With a PCP you've got to get out of the mindset of the car's value.

Just think of it as renting, what am I getting for £xxx/month. Assume worst case of handing the car back, and if you end up with equity, then that's a bonus.

Look on Hertz's website, see how much a car will cost per month! Not quite the same I know, but the difference will more than pay for your running costs.

[tony_danza]

See, I told you the BMW APRs weren't heading North, they've probably just ended the Q4 and not announced the Q1 yet... So default rates are advertised for now.

[Deako]

See, I told you the BMW APRs weren't heading North, they've probably just ended the Q4 and not announced the Q1 yet... So default rates are advertised for now.

It might still be a possiblity then.

Just found out work staff rates have just dropped to 4% flat on used cars for HP. We have a 123d MSport 3dr Hatch in at the moment. Will only cost me £202 p/m. Eeeeeeek....tempted by that one. Or a 120d MSport 3dr for £192. Both are used cars obviously.

[Poverty]

Are pcp interest rates the same for used cars as they are in the news. I ask as my sister is looking for a new car and wants minimal outlay. She's another one of those in the good wage but happily drive a sh*tter camp. Just so happens her last wreck got written off so me and my old man are trying to push her into a safe newish car.

A BMW 1 series for under 200 p/m sounds right up her street tbh.

[tony_danza]

Generally no, APR on used is upwards of 8%.

Luke, for something to commute in and smash 20k p/a on, £200 a month for a 123d sounds ideal. Stick the extra money aside towards something fun to use on days off.

[Deako]

Are pcp interest rates the same for used cars as they are in the news. I ask as my sister is looking for a new car and wants minimal outlay. She's another one of those in the good wage but happily drive a sh*tter camp. Just so happens her last wreck got written off so me and my old man are trying to push her into a safe newish car.

A BMW 1 series for under 200 p/m sounds right up her street tbh.

No, this is hire purchase and is a staff rate as i work for a large bank. To be honest, they give us mortgage rates at 0.5%, so its about time they offered us a discount on car finance too. The car is also a couple of years old, but has only done 29k miles.

PCP rates vary from manufacturers and even based on the car you buy.

Generally no, APR on used is upwards of 8%.

Luke, for something to commute in and smash 20k p/a on, £200 a month for a 123d sounds ideal. Stick the extra money aside towards something fun to use on days off.

Sounds good doesnt it. Its only done 29k miles too. Its in Grey. Need to see what options are, its only just been added to stock so im hoping our remarketing team take pictures of it by tomorrow.

[garrardrj]

I can never understand how people can afford to buy new cars if they earn less than £50k pa . To lost £20k in 3 years equals losing about £130 a week .

I just look at it as another monthly outgoing. I could spend a fortune on a monthly train pass, or spend £300 a month on a loan, or finance. Swings and roundabouts.

Indeed .... I try to keep my monthly outgoings as low as possible ..... But everyones different  

You sound just like my brother, he earns a fair amount over 100k per annum, but won't pay out when it comes to cars (yet he loves them); I know it's sensible, plow all your money into bricks and mortar (he's 35)... but there has to be a point where you enjoy the fruits of your labor, who wants to be driving around in an Astra with a household income over 150k :(

Absolutely. You cant take it with you when you are dead. My wife and i never plan on kids, so we are just going to enjoy our money and hope to have a retirement nest egg. Sell up once we retire and tour the world. If we are phystically capable.

Indeed you cannot take it with you ..... But in 6 months time i will retire from work at 50 , no mortgage , no debt , £130 k in the bank and £25k pa pension index linked for life ..... Happy Days ...

[Leeds s3]

Generally speaking new car rates are better as you get manufacturer support.

Anybody after an m135i? We have two stock cars ready to go that we can do a deal on?

[zerolag]

I can never understand how people can afford to buy new cars if they earn less than £50k pa . To lost £20k in 3 years equals losing about £130 a week .

I just look at it as another monthly outgoing. I could spend a fortune on a monthly train pass, or spend £300 a month on a loan, or finance. Swings and roundabouts.

Indeed .... I try to keep my monthly outgoings as low as possible ..... But everyones different  

You sound just like my brother, he earns a fair amount over 100k per annum, but won't pay out when it comes to cars (yet he loves them); I know it's sensible, plow all your money into bricks and mortar (he's 35)... but there has to be a point where you enjoy the fruits of your labor, who wants to be driving around in an Astra with a household income over 150k :(

Absolutely. You cant take it with you when you are dead. My wife and i never plan on kids, so we are just going to enjoy our money and hope to have a retirement nest egg. Sell up once we retire and tour the world. If we are phystically capable.

Indeed you cannot take it with you ..... But in 6 months time i will retire from work at 50 , no mortgage , no debt , £130 k in the bank and £25k pa pension index linked for life ..... Happy Days ...

That's good going - I hate to think what my generation will be like at a similar time in life, esp. with this buy it now pay for it later mentality I think it stems from the housing problems, most people rent, buy ipads and dont save (much).

Anyway, surely if your retiring in 6 months, any old scrapper will do until you get your retirement present (hmm, XKR?)

Edit: Or a nice 135i ^^^

[Deako]

I can never understand how people can afford to buy new cars if they earn less than £50k pa . To lost £20k in 3 years equals losing about £130 a week .

I just look at it as another monthly outgoing. I could spend a fortune on a monthly train pass, or spend £300 a month on a loan, or finance. Swings and roundabouts.

Indeed .... I try to keep my monthly outgoings as low as possible ..... But everyones different  

You sound just like my brother, he earns a fair amount over 100k per annum, but won't pay out when it comes to cars (yet he loves them); I know it's sensible, plow all your money into bricks and mortar (he's 35)... but there has to be a point where you enjoy the fruits of your labor, who wants to be driving around in an Astra with a household income over 150k :(

Absolutely. You cant take it with you when you are dead. My wife and i never plan on kids, so we are just going to enjoy our money and hope to have a retirement nest egg. Sell up once we retire and tour the world. If we are phystically capable.

Indeed you cannot take it with you ..... But in 6 months time i will retire from work at 50 , no mortgage , no debt , £130 k in the bank and £25k pa pension index linked for life ..... Happy Days ...

Ahh, well at your age i can understand. Congrats!!!!

[Eddie-NL]

VW prices are crazy, that is why I bought the Skoda

Skoda are keen to sell their cars, NO VAT offer on the car I bought and 3yrs Roadside assistance & 3yrs servicing

They gave me a good price for my car (the same as what a VW dealer offered over a year ago) and my monthly payments are reasonable at just over £210 per month

I'm fairly sure a lot of the cars that VW sell are lower spec versions

Only those with Deep pockets are going to add all the options to an already expensive car.