How do people afford £30k-£60k cars with normal jobs?

JamesFuller

I see so many people on the road driving expensive SUV's or new even moderate cars that set you back £30k.

And most of them have normal jobs it seems. How can they afford such cars / lifestyle? Spending £30k to £60k on cars seems steep on such an average income.

I am just curious how they do it.

Iceweasel

Easy - they don't own them.

jimjames

PCP or lease.

At work it tends to be those who earn least who have the newest cars, those who are more mature and higher salaries seem to be the ones who own their cars outright.

Johno100

I'm sure a lot of them are leased and company cars and not owned.

And with those who do own such vehicle I suppose it comes down to lifestyle choices. Nice car instead of a couple of foreign holidays a year, rent/living at home instead of taking on a large mortgage that needs to be serviced each month.

EssexExile

We don't spend the money on other things, it's all about priorities.

bertiewhite

One of my colleagues left the regular Armed Forces, spent a large amount of his pension lump sum on a brand new car and then became a reservist back in the same workplace.

So to the casual observer, his position appeared to be the same but appearances can be deceptive.

ratrace

There are some really good lease deals out there, a mate of mine has the golf r dsg which is about £30k+ rrp but he is only paying £250 a month via his bussiness, So driving around in a really nice top spec car for only £250 a month allows him to get the best of both worlds a nice car and the other cash he can keep in stock, instead of having a hugh lump sum all in a car from a cash flow point of view it makes sense

i have another mate who is a mechanic for vw he has a new golf gtd and is only paying £150 a month to lease it which is a great deal

so everyone is diffrent and has goals/priorities some people spend a lot on nights out while others stay home and drink on the cheap some people spend £150 a week on food and drink while others shop at aldi/lidel and only spend £50 a week etc.......

Strider590

Lease/PCP is a mugs game, I knew a few guys who bought the new Civic TypeR back in 2008, 2 months into their "deal" the company made everyone redundant, so they lost the cars and they had no transport for job searching.

If your not the boss of the company, then your expendable and expendable people are taking huge risks going into debt.

The argument for keeping cash in the bank is a moot point, your £150 a month would soon add up, plus bank interest rates are a complete joke.

ratrace

Strider590 wrote: »

Lease/PCP is a mugs game, I knew a few guys who bought the new Civic TypeR back in 2008, 2 months into their "deal" the company made everyone redundant, so they lost the cars and they had no transport for job searching.

If your not the boss of the company, then your expendable and expendable people are taking huge risks going into debt.

The argument for keeping cash in the bank is a moot point, your £150 a month would soon add up, plus bank interest rates are a complete joke.

I hear what you are saying and yes it is silly to just go lease a car when you have jack all in your account so here is the process that im working on before i even contemplate taking on debt not even a mobile contract

Save a small emergency fund £3,000 to cover white goods etc... (Done)
Save 12 months of total house hold expenses in case of job loss (54% complete) etc....

what made me think like this simple, got called in the office told our hours at work were being cut total panic, finished from work at 6pm drove to 5 diffrent takaways to get a job as a delivery driver, got one starting next day making £250 including tips week

But people dont want to wait, we want it yesterday

missile

How often does the bank of mum and dad fund an extravagant life style?

Phil&Michelle

Company Cars?