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

BeenThroughItAll

scd3scd4 wrote: »

I work with one person who never seems to go on holiday and drives an average mid range PC. However the house is beautiful with all the latest fittings. Each person decides what's important in their lives and what you may see from the outside could well not be all that it seems or the full story.

Drives a PC?

scd3scd4

BeenThroughItAll wrote: »

Drives a PC?

Ok, should said People Carrier Sorry.

Stoke

scd3scd4 wrote: »

I work with one person who never seems to go on holiday and drives an average mid range PC. However the house is beautiful with all the latest fittings. Each person decides what's important in their lives and what you may see from the outside could well not be all that it seems or the full story.

So they're investing in an appreciating asset?

Very smart.

Buying a MacBook Air from Brighthouse?

Dumb.

https://youtu.be/XI7FoCHJ01k

scd3scd4

Stoke wrote: »

So they're investing in an appreciating asset?

Very smart.

Buying a MacBook Air from Brighthouse?

Dumb.

https://youtu.be/XI7FoCHJ01k

Yet sort of how I see it. Everything has been done to high standards, beautiful garden, extension. Tastefull and classic for the most part. Little extravagance here and there like hot tub that they use regularly and some nice prints.


Clever in my book........

Stoke

scd3scd4 wrote: »

Yet sort of how I see it. Everything has been done to high standards, beautiful garden, extension. Taste full and classic for the most part. Little extravagance here and there like hot tub that they use regularly and some nice prints.


Clever in my book........

Yup, invest in an asset that appreciates in value. Spending money to make money. What's more, they'll feel good going home every night. You might be able to sleep in a car, but you can't sit on a comfortable couch and watch TV.....

Buying a new car is rarely a good investment. Buying a new car when you can't really afford is just stupidity.

Keep_pedalling

Stoke wrote: »

Yup, invest in an asset that appreciates in value. Spending money to make money. What's more, they'll feel good going home every night. You might be able to sleep in a car, but you can't sit on a comfortable couch and watch TV.....

Buying a new car is rarely a good investment. Buying a new car when you can't really afford is just stupidity.

Buying anything new is not an investment, and that includes home improvements. You will never get all your money back on a new kitchen, because when you sell the next person is liable to change everything to their own taste so wont be offering top dollar because you installed a new kitchen a few years back

I know buying a new car is not the most sensible thing to do, but I still do it because I cant take it with me, and the knowledge that for every £1 the care depreciates, 40p of that will eventually be a loss to HMRC in IHT makes it seem not so bad.

Mr.Generous

Is there a tax benefit for the self employed to lease? I know we have a big increase in self employment or contract work - so called gig economy, I'm just wondering if some of the cost of transport can be offset as a business expense against tax?

I have bought outright last couple of cars, I always bought used when I had a mortgage. I don't think its been good mse behaviour to buy new because of the depreciation. however I've had the Saab 8 yrs, picked it up when they were going bust so it was a good deal. Only done 50k due to circumstances of employment. I would be interesting in leasing, a nice new car for say £250 month sounds good to me.

scd3scd4

Keep_pedalling wrote: »

Buying anything new is not an investment, and that includes home improvements. You will never get all your money back on a new kitchen, because when you sell the next person is liable to change everything to their own taste so wont be offering top dollar because you installed a new kitchen a few years back

I know buying a new car is not the most sensible thing to do, but I still do it because I cant take it with me, and the knowledge that for every £1 the care depreciates, 40p of that will eventually be a loss to HMRC in IHT makes it seem not so bad.

hmmm...I know what you mean. Go and buy some jewellery and then see what it is worth a year or two later if you want to sell it.


But we are talking about more than that with a home. Improvements are more than just a kitchen or a bathroom. Sell two homes where one has been maintained even if the wife wants to change the kitchen and see the difference in the price. Its about adding to the overall price. Not getting back the price you paid new for the kitchen or bathroom.


Most money spent responsibly in a home is a sound investment than nearly all others.


A quality loft conversion with extra bathroom is nearly always adding value and you are enjoying it at the same time.


I purchased a new car because I wanted the colour, trim and spec I wanted. Ohh and a friend got me the family discount. ;-] I knew it was no investment.

thescouselander

Why does spending have to be an investment anyway? Over the last year we must have spent nearly £8,000 on the weekly shop with b***er all to show for it (except for the family and I haven't starved to death). Not really an investment though and everyone does it.

Kind of puts the cost of a new car in context too.

BeenThroughItAll

thescouselander wrote: »

Why does spending have to be an investment anyway? Over the last year we must have spent nearly £8,000 on the weekly shop with b***er all to show for it (except for the family and I haven't starved to death). Not really an investment though and everyone does it.

Kind of puts the cost of a new car in context too.

Is it not investing in life, and health?