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[Varche]

We drove past a garage in Leicester and there was a car for sale at £38,500.

Spent the rest of the day looking out for older cars on the road. Saw a few 02s, an 03 and two 04s. Plus three old cars Y plate and an L and an R ( not personal plates). So concluded that most cars on the road arent old and people have money to buy them - no shortage of cars on peoples drives or house fronts. They might be being bought on loans that they cant afford or maybe lease schemes.

Am I right to conclude that people have lots of money and that a car is old at 14 years of age? If we turned the clock back say twenty years would the results have been the same then?

[Doctor Gollum]

Statistically, most wealthy people, aka Everyday Millionaires as Chris Hogan calls them, never buy a brand new car.

Most new cars are brought on finance, whether it's a lease or HP or property equity release.

Also buying/running an older car doesn't mean that it has to be a complete shitter

[2boxerdogs]

We have three cars two 2005 & one is a 2000 model year all in excellent condition & not worth a lot , would never get into debt for a car, lots of wealthy farmers round here majority have older vehicles, lot of "snob" value in having the latest reg amongst people.

[STEMO]

We try to look for 1 or 2 year old cars, or even pre-reg. The savings, off list price, are huge. I was looking at an astra K on the trader. 2.0 diesel, auto, elite, 66reg, around 12,000 miles, £12000. Less than half of the original price.

[Field Marshal Dr. Opti]

I don't imagine anyone pays full list price for a car unless they are a complete imbecile.

[2boxerdogs]

I don't imagine anyone pays full list price for a car unless they are a complete imbecile.

.


Quite agree Opti have a price in mind that you're prepared to pay if they won't agree simply walk away.

[dave the builder]

I don't imagine anyone pays full list price for a car unless they are a complete imbecile.

some buy on finance and pay more than list price ,some buy older cars on finance and are probably still paying finance off after the shed quality used car is cubed 

[Doctor Gollum]

I don't imagine anyone pays full list price for a car unless they are a complete imbecile.

As soon as you pay monthlies for a car, you will be paying at least full price, whether it's by way of fees or interest.

[2boxerdogs]

I don't imagine anyone pays full list price for a car unless they are a complete imbecile.

some buy on finance and pay more than list price ,some buy older cars on finance and are probably still paying finance off after the shed quality used car is cubed 

. Quite agree, I know colleagues at work who have no idea about APR just buy cars on a whim one guy is continually in debt always buys BMWs doesn't maintain them correctly & swops them as soon as any repairs might be looming, hammers the overtime just to pay for a car interestingly enough there was a chat on the radio a couple of weeks ago saying a very high percentage of vehicles spend over 80 percent of their existence parked up.

[Doctor Gollum]

That figure might be accurate, but also might have been conjured up for political/ecomental reasons...

[Kevin Wood]

There is a school of thought that the list price of cars these days is held artificially high to part finance the inevitable loan and make the APR look attractive.

Needless to say, that would make me run a mile from any new car. Even if they were making one I actually wanted.

[Field Marshal Dr. Opti]

I don't imagine anyone pays full list price for a car unless they are a complete imbecile.

As soon as you pay monthlies for a car, you will be paying at least full price, whether it's by way of fees or interest.

Fortunately I've always been able to pay in cash. I've yet to sample the dubious delights of PCP/HP.

When I recently looked into PCP the sums only seemed to make sense if you make the final balloon payment, which about 90% don't.

[2boxerdogs]

People laugh when I say I pay cash for everything , but I still believe cash is king, haven't paid interest on anything since 1987 must have saved a fortune , as for PCP don't want a euro shitbox, prefer to be different and own things outright.😀

[Andy B]

Quite agree Opti have a price in mind that you're prepared to pay if they won't agree simply walk away.

That works if you're looking at an Also Ran mainstream motor, but if it's something a bit different, the dealer will already know & will dig his/her heals in.

[cam.in.head]

People laugh when I say I pay cash for everything , but I still believe cash is king, haven't paid interest on anything since 1987 must have saved a fortune , as for PCP don't want a euro shitbox, prefer to be different and own things outright.😀

Absolutely agree 100%. My belief and how I was brought up was    If you want something you save up and buy it. Then look after it .
Unfortunately in my case I've taken the 'look after it 'to extremes and own many things now not just cars that I've had 30 years or more.
I've got my old cars and also my modern ' nearly new ' 2003 omega !.
To me anything newer than 2000 is a nearly new car .
Girlfriends sister was complaining that her mini is getting a bit old now so may have to change it. It's a 2015 model !