Confused about car finance figures

Nebulous2

Nearlyold wrote: »

Whether you pay cash, bank loan, PCP or traditional HP a new car is always going to lose you a shed load of money - there is no real way round that. Many people though are happy to do this as they enjoy having a new car, and if they're willing to lose £300 per month for the privilege and can comfortably afford it then it's their choice.

I've spent a great deal of money on cars in my time, but no longer see the point. There may be no way round it, but there are ways to minimise it. Buying a car which is heavily discounted for instance. Vauxhall Zafiras were selling for £10k ish new three years ago. They'll still sell for £4.5k now. That's less than £2k depreciation a year.

Older cars with very little left to depreciate can be good, but you possibly need a degree of knowledge and a willingness to take a risk. Measuring a £1k car against that £300 a month you described is one way. You just need to tell yourself if you get 4 months from it you are making money. Every month beyond that is a bonus.

Nearlyold

Nebulous2 wrote: »

I've spent a great deal of money on cars in my time, but no longer see the point. There may be no way round it, but there are ways to minimise it. Buying a car which is heavily discounted for instance. Vauxhall Zafiras were selling for £10k ish new three years ago. They'll still sell for £4.5k now. That's less than £2k depreciation a year.

Older cars with very little left to depreciate can be good, but you possibly need a degree of knowledge and a willingness to take a risk. Measuring a £1k car against that £300 a month you described is one way. You just need to tell yourself if you get 4 months from it you are making money. Every month beyond that is a bonus.

I'm of the same mind as you I just don't get excited about cars anymore and prefer a cheapie however I see nothing wrong with those that love their cars and want to spend money on them - each to their own I guess - provided that what folks commit themselves to is genuinely affordable.

imperialfin

On the off chance that its more than anticipated value, then either get a full and last settlement for the credit, pay it off and offer the auto, or exchange it in and the merchant will deal with the account outstanding.The aggregate sum payable is the cost of the merchandise in addition to intrigue and some other fund charges, not the sum acquired in addition to intrigue and some other money charges.

poppasmurf_bewdley

[QUOTE=imperialfin;70718535The_aggregate_sum_payable_is_the_cost_of_the_merchandise_in_addition_to_intrigue_and_some_other_fund_charges,_not_the_sum_acquired_in_addition_to_intrigue_and_some_other_money_charges.[/QUOTE]

And in English, that means????