Car sales go up for the first time in 15 Months.

wolvoman

econo wrote: »

Frankly the economic ignorance spouted here is astounding. ..............................

There is only so much money that can be leant and if the government would have encouraged a savings ethos at the start of this by swift policy changes rather than a consumption one, we would have seen the end of most of it already.

Your first sentence contradicts your last point.
What you're suggesting is that to end the current economic turmoil we should all save instead of spend.

Hmmm, and what about when thousands more shops close down due to lack of business? And engineering plants that manufacture parts for the cars you so despise close down in even greater numbers. What good are loans to businesses if there is no customer for those businesses to sell to??

I'm thinking that there are some posters in here who seem to actually enjoy the suffering of others.

Really2

wolvoman wrote: »

I'm thinking that there are some posters in here who seem to actually enjoy the suffering of others.

It is the only way the crash will continue. Lets face it most bears want to buy a house as cheap as possible.

They are not here for a moral crusade(even if they make out they are:))

Graham_Devon

nearlynew wrote: »

My hope is for a stable and sustainable economy.

More cars and more debt is not the answer.

Agreed.

Doesnt really bother me whether car sales go up, and it's probably about time. They are at desperately low levels.

How much of this owes to the scrappage scheme? Did anyone else hear the news report where a survey was done on people using loans to take advantage of the scrappage scheme?

Over 70% were none the wiser of the balloon payment at the end. It was on Channel 4 news, but can't find anything about it now. I found it online the day it was mentioned, when I came to post it later, it was gone!

But basically a lot are being sent down the "affordable" loan route to take advantage of the scrppage scheme, and being sold on the monthly payment. They were not aware that after paying for x amount of years, the car would nto be theirs unless they made a 30% balloon payment.

This kind of thing may get car sales up, and the government are saying it is. But again its artificial. And these people signing up for loans are not likely to be the most switched on if they think saving 2k on a new car is a god deal when you have lost those 2k savings on average in 80 days.

Feel it's being engineered towards certain groups of people myself.

Really2

Graham_Devon wrote: »

Agreed.

Doesnt really bother me whether car sales go up, and it's probably about time. They are at desperately low levels.
.

It is up from July 08, not on the last month. ( so yearly increase not MOM)

How did you pay for your car Graham? I always pay cash.

Graham_Devon

Really2 wrote: »

It is up from July 08, not on the last month. ( so yearly increase not MOM)

How did you pay for your car Graham? I always pay cash.

Cash here too. Went in with my last car and did a straight swap at the dealership.

Really2

Graham_Devon wrote: »

Cash here too. Went in with my last car and did a straight swap at the dealership.

So I think you can safely say that most would not be on the dealers finance.

I thought the most likely people to take advantage would be those who are frugal and cash in their old small car and get a big % discount on an equiverlent small car.

Graham_Devon

I wouldn't be happy to say that at all.

I would guess that over 95% of the scrappage scheme is made up of new cars bought on finance.

I can't really see why someone with cash in the bank reading to buy would run around in a 10 year old car and then jump at the chance of trading it in for a new car.

They could have sold their car at any point they wished and bought another one at any time they wished. So fail to see how the scrappage scheme would have made them think "ohhhhh, great deal" - yet they didnt think this 6 months before hand when dealers were knocking up to 20% off prices just to make a sale when cars were piling up in the docks.

Everyone knows it's not a great deal, and car dealers have been giving you a guarenteed 1k for your ca as long as I can remember.

bo_drinker

Graham_Devon wrote: »

But basically a lot are being sent down the "affordable" loan route to take advantage of the scrppage scheme, and being sold on the monthly payment. They were not aware that after paying for x amount of years, the car would nto be theirs unless they made a 30% balloon payment.

Feel it's being engineered towards certain groups of people myself.

Dull, gullable, must have a shiny car, keep up with the Jones's. Put it on tick, it'll be alright. etc etc etc. :rotfl: Didn't read the small print so when the baloon payment is due what do they do?? hand it back?? oh no that means we haven't got a car!! I know we'll sign the dotted line and have another posh car. Brain dead half wits

Graham_Devon

bo_drinker wrote: »

Dull, gullable, must have a shiny car, keep up with the Jones's. Put it on tick, it'll be alright. etc etc etc. :rotfl: Didn't read the small print so when the baloon payment is due what do they do?? hand it back?? oh no that means we haven't got a car!! I know we'll sign the dotted line and have another posh car. Brain dead half wits

I reckon they will be completly pee'ved and martin will probably start a campaing to reclaim the balloon payment or something!

Really2

Graham_Devon wrote: »

I wouldn't be happy to say that at all.

I would guess that over 95% of the scrappage scheme is made up of new cars bought on finance.

I can't really see why someone with cash in the bank reading to buy would run around in a 10 year old car and then jump at the chance of trading it in for a new car.
.

Oppertunity and low IR.
My wife's uncle has over £100k in the bank and drives an old metro.

if you get £2k off an £8K car you get 3 years cost free motoring (except petrol) and have most probably knocked out most of your depreciation for that period (for a small car)
But the truth is those kind of people will run it for over 10 years again.

Have you got the figures for the people using finance or is it a pure guess?