galway_blow_in
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No talk of unaffordability yesterday, narative was that pcp was fundamentally a bad idea
It is the devil for people who fundamentally cannot afford what they’re being induced to buy.
No talk of unaffordability yesterday, narative was that pcp was fundamentally a bad idea
Hi,
I am looking for a 2nd hand family car with a decent cash budget of €12,000-€15,000. My last car was purchased second hand 8 years ago and it is on its last legs. I will be doing the same again with this one.
How do you pay for your car?
Show me where I said that please.
Page 2 of this thread, you claimed "you own nothing "by buying through pcp
Like I said , ability to afford nowhere in the argument against
And exactly how is that me saying that “PCP is fundamentally a bad idea”?
It’s merely a statement of fact.
And exactly how is that me saying that “PCP is fundamentally a bad idea”
It's pedantic rubbish
this seems to be a thread where the OP wants to scoff at anyone buying a new car and assumes that his method of buying a reliable car for 10k for cash is the most appropriate in all circumstances.
he also says PCP is an expensive way to buy a car, it isnt, in fact there are plenty of 0% finance deals. Buying a new car is expensive, no matter how you do it, but PCP can be relatively inexpensive way of doing it.
finally, to the point that you are only renting the car, who cars, really that would be my preference, rent a depreciating asset rather than own it.
Thanks for that Leo. Do you mind me asking where you can access the car sales info?There was a lot of talk a couple of years back that the increasing popularity of PCPs would distort the second hand market. In reality, sales of new cars has fallen for the last two years, by 4.4% last year on a volume that was 10.4% down on 2016. While overall sales are down, the level of financing has crept up by small margins for the last few years, but there's nothing in the numbers to suggest and significant shift in patterns.
This is untrue. My question is how do you finance your car? I have absolutely no issue with people buying new cars as long as they can afford them.
My issue with PCP is that it makes new cars available to people who should not be buying new cars. I know very little about PCP and was genuinely interested in why some people were willing to make such a commitment if they cannot afford it. There does absolutely seem to be some great PCP deals out there on the face of it, but how someone on a modest salary can stroll into a garage and drive off in a €40k car on finance that appears to have loose regulation is mad to me.
how are you defining what they can afford?
How do you determine they cannot afford it?I know very little about PCP and was genuinely interested in why some people were willing to make such a commitment if they cannot afford it.
This is untrue. My question is how do you finance your car? I have absolutely no issue with people buying new cars as long as they can afford them.
Of course the person who is buying it will not consider it a luxury but a necessity.Someone who has to finance a luxury item that is a depreciating asset.
Someone who has to finance a luxury item that is a depreciating asset.
Of course the person who is buying it will not consider it a luxury but a necessity.
I agree with your point that there are far too many people buying new cars with debt.
so you advocate taking full ownership of this depreciating luxury asset instead of effectively renting it for a period?
Thanks for that Leo. Do you mind me asking where you can access the car sales info?
Garage finance here I buy something around 2 years old every 5 years, that car goes on to be the second car than ,200 a month with a small deposit. Cheap motoring in my opinion.