Bank loan or PCP?

paulmcerlean

CLAPTON wrote: »

your mathematics is poor

if you buy a 15k car on credit then you do indeed spend 15k plus a lot of interest on the car;

if you save for it then you only spend 15k
in both cases you can have a shiny new car ; its just that in one case you pay 15k and the other you pay 18 or 19k

now please don't tell me you can't afford to save ... if you can afford to repay 18k for something worth only 15k then you can afford to save.

yes it does mean that you do have to delay having shiny new car just once... the first time you break the silly cycle of always overpaying for a car.

My mathematics are fine thank you. I use my ability to count and formulate in my working day. I am not sure where you feel I have displayed an inadequacy there.

I also have not stated I cannot afford to save. In fact, I stated the opposite in saying that I DO save.

I don't know about you, but even though I am in a well paid job, I wouldn't have 15K saved up overnight or any time soon with life commitments. A bank loan allows me to utilise my savings elsewhere or continue to save whilst paying back my purchase in affordable stages. I am more than aware that the interest I am paying back would be better in my pocket, but unless you are in a position of enormous cash flow, then the world doesn't quite work like that. A good competitive bank loan is a perfectly acceptable way to purchase a more expensive purchase.

I don't give a hoot that I be a would be to make do with a 2K purchase. as others will state. I made my purchase via a loan having sensibly judged the affordability against my financial position over the term of the loan.

I normally respect the majority of your posts Clapton for their accuracy and ability to advise, but the above quoted is anything but.

CLAPTON

paulmcerlean wrote: »

My mathematics are fine thank you. I use my ability to count and formulate in my working day. I am not sure where you feel I have displayed an inadequacy there.

I also have not stated I cannot afford to save. In fact, I stated the opposite in saying that I DO save.

I don't know about you, but even though I am in a well paid job, I wouldn't have 15K saved up overnight or any time soon with life commitments. A bank loan allows me to utilise my savings elsewhere or continue to save whilst paying back my purchase in affordable stages. I am more than aware that the interest I am paying back would be better in my pocket, but unless you are in a position of enormous cash flow, then the world doesn't quite work like that. A good competitive bank loan is a perfectly acceptable way to purchase a more expensive purchase.

I don't give a hoot that I be a would be to make do with a 2K purchase. as others will state. I made my purchase via a loan having sensibly judged the affordability against my financial position over the term of the loan.

I normally respect the majority of your posts Clapton for their accuracy and ability to advise, but the above quoted is anything but.

you have missed my key point; but we can agree to differ ; lots and lots of people do