Mercedes PCP

XeonSX

C_Mababejive wrote: »

It truly amazes me what people are prepared to spend on cars. Whats it all about?Perceived status? some kind of phallic worship? A car means no more to me than a hammer,a screwdriver or other similar device. In effect,its just a tool.

The idea of paying a fat deposit, a fat monthly payment and then at the end of 3 years paying another fat wad just to own a car seems bizarre to me.

OK, let's say you make 100k a year. Tell me how you would spend it...

Brooker_Dave

XeonSX wrote: »

OK, let's say you make 100k a year. Tell me how you would spend it...

Trouble is the PCP addicts are just people who pretend they can afford something that they cannot.

AnotherJoe

C_Mababejive wrote: »

It truly amazes me what people are prepared to spend on cars. Whats it all about?Perceived status? some kind of phallic worship? A car means no more to me than a hammer,a screwdriver or other similar device. In effect,its just a tool.

The idea of paying a fat deposit, a fat monthly payment and then at the end of 3 years paying another fat wad just to own a car seems bizarre to me.

You could say the same about pretty much any non essential item, anything apart from food, shelter, basic clothing. Why do some people live in a 3 bed house when there are only two of them? Why not move to a 1 bed and keep the money in the bank ? Why do so many people buy new clothes when they could buy them from a charity shop? Why do they ever go to a restaurant when they could cook at home far cheaper?

The fact you dont gain enjoyment from a car is irrelevant to the OP's question about best way to finance one though it might be worth considering that if the OP never bought that car, then it wouldn't be there for you to buy as a bargain in say 15 years time when you buy it for say £5k because it fits your lifestyle strategy,so never mind you find it bizarre, the person who buys a new car is financing your strategy of buying an old one, so why criticise

XeonSX

Brooker_Dave wrote: »

Trouble is the PCP addicts are just people who pretend they can afford something that they cannot.

I realise that most of these forums attract people who have debt problems so it may seem like PCP and other loans are terrible products. Happy customers rarely come here to share their success stories. Assuming all those preferring PCP cannot afford them is wrong. It's a bit like going to alcoholics anonymous meeting and concluding that everybody who drinks alcohol is an alcoholic.

saverbuyer

XeonSX wrote: »

OK, let's say you make 100k a year. Tell me how you would spend it...

I saved it and bought a car with cash.

XeonSX

saverbuyer wrote: »

I saved it and bought a car with cash.

Do you really think it makes much sense to delay a purchase of a car for 2 years (to accumulate 40k) to save 2.7k (difference between 3 year PCP and cash (incl discount which I still don't think is possible))?

saverbuyer

XeonSX wrote: »

Do you really think it makes much sense to delay a purchase of a car for 2 years (to accumulate 40k) to save 2.7k (difference between 3 year PCP and cash (incl discount which I still don't think is possible))?

Why 2 years? The car is 45k. 10k already saved, 7k discount = £28k

As I say, I got a 5k discount on a new A class. Loads of similar examples on here and online. You can settle the MB finance without penalty and keep ALL dealer discount. Why is this hard for you to grasp.


Would I hold off for approx. 12 months? to buy a new car outright and save £2700 interest. 100% yes I would.


Take home is 5.5k. It's not unreasonable to save 2.5k a month.

XeonSX

saverbuyer wrote: »

Why 2 years? The car is 45k. 10k already saved, 7k discount = £28k
As I say, I got a 5k discount on a new A class. Loads of similar examples on here and online. You can settle the MB finance without penalty and keep ALL dealer discount. Why is this hard for you to grasp.
Would I hold off for approx. 12 months? to buy a new car outright and save £2700 interest. 100% yes I would.
Take home is 5.5k. It's not unreasonable to save 2.5k a month.

1. Why 2 years? Because somebody on 100k a year will have the lifestyle to go with it where saving almost 50% of salary will not be possible.
2. re the discount... I see a difference between paying cash and going for PCP only to pay it off within 2 weeks. If you want to keep calling it cash, then I'll keep questioning the 'discount' you're getting.
3. Even 1 year, I doubt you'll find many people at that income level who'll wait a year.

saverbuyer

XeonSX wrote: »

1. Why 2 years? Because somebody on 100k a year will have the lifestyle to go with it where saving almost 50% of salary will not be possible.
2. re the discount... I see a difference between paying cash and going for PCP only to pay it off within 2 weeks. If you want to keep it call it cash, then I'll keep questioning the 'discount' you're getting.
3. Even 1 year, I doubt you'll find many people at that income level who'll wait a year.

I don't know exactly what a 100k a year lifestyle is but I obviously don't fit into your definition.


As I said, I'd wait a year to save 2.7k. My old car served its purpose, I didn't need to drive around in a new one to "live the lifestyle".


Mustn't be living the lifestyle to reflect my earnings I guess. Must go and spunk it all now and stop saving that 2.5k a month.


P.S. It doesn't have to be 2 weeks. It can be 5 minutes after you leave the sales office.

foxmiluroa

i think 10k is high price

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