Is leasing ever a good thing?

ChumLee

neil.woos wrote: »

Unless you can afford one to pay outright in cash, no you can't afford it.

So if you have a mortgage you can't afford a house?

photome

neil.woos wrote: »

Unless you can afford one to pay outright in cash, no you can't afford it.

On that basis unless you can buy a house outright you can't afford it!

dannyrst

neil.woos wrote: »

Unless you can afford one to pay outright in cash, no you can't afford it.

Do you not accept debit cards?

neil.woos

ChumLee wrote: »

So if you have a mortgage you can't afford a house?

photome wrote: »

On that basis unless you can buy a house outright you can't afford it!

Cars and properties are like apples and oranges. How can you even compare the two? Different market dynamics, one being typically 20 times the price of the other, one more so a necessity and the other not so much...cannot compare the two.


Affording a property is having the right amount of deposit. 20% minimum is a good rule of thumb. I stand by what I said, unless you can't afford to pay for a car outright, no you can't afford the car. Are you two on hire car/lease schemes as well?

dannyrst

neil.woos wrote: »

Cars and properties are like apples and oranges. How can you even compare the two? Different market dynamics, one being typically 20 times the price of the other, one more so a necessity and the other not so much...cannot compare the two.


Affording a property is having the right amount of deposit. 20% minimum is a good rule of thumb. I stand by what I said, unless you can't afford to pay for a car outright, no you can't afford the car. Are you two on hire car/lease schemes as well?

They are both fruit?

neil.woos

dannyrst wrote: »

Do you not accept debit cards?

Ermm, is it surprising for you to know that people DO in fact purchase cars using their debit card? Yes, brand new cars as well.

neil.woos

If someone has a car on finance or similar:


A) They don't actually own the car
They have rules to abide to


If someone can AFFORD a car:


A) They aren't in a financial mess if they're car gets scrapped for whatever reason. I.e. does not impact their credit history.
They OWN the car
C) No rules to abide to


How more clear can I be? Technically speaking someone on a 50k salary is ELIGIBLE to lease out a car that is worth £50k brand new. They also have other commitments such as rent/mortgage, children, bills and so forth. Whether can AFFORD to get that car is entirely another matter.

ChumLee

neil.woos wrote: »

Cars and properties are like apples and oranges. How can you even compare the two? Different market dynamics, one being typically 20 times the price of the other, one more so a necessity and the other not so much...cannot compare the two.


Affording a property is having the right amount of deposit. 20% minimum is a good rule of thumb. I stand by what I said, unless you can't afford to pay for a car outright, no you can't afford the car. Are you two on hire car/lease schemes as well?

Affording a car is having the deposit and being able to make the repayments.

By your logic I can't afford to eat, I put everything on a cash back credit card and pay it off at the end of the month.

neil.woos

ChumLee wrote: »

Affording a car is having the deposit and being able to make the repayments.

By your logic I can't afford to eat, I put everything on a cash back credit card and pay it off at the end of the month.

Hahaha so what I thought is true. You are on some sort of car lease/PCP deal. Yeah you can afford it now but what if you lose your job? Can you still afford it? Won't the finance company take back THEIR car?

ChumLee

neil.woos wrote: »

If someone has a car on finance or similar:


A) They don't actually own the car
They have rules to abide to


If someone can AFFORD a car: It may still be on finance.


A) They aren't in a financial mess if they're car gets scrapped for whatever reason. I.e. does not impact their credit history. How are you automatically in a financial mess?
They OWN the car
C) No rules to abide to If you say so


How more clear can I be? Technically speaking someone on a 50k salary is ELIGIBLE to lease out a car that is worth £50k brand new. They also have other commitments such as rent/mortgage, children, bills and so forth. Whether can AFFORD to get that car is entirely another matter.

Darkmatter wasn't your fantasy M3 a lease vehicle?