Car finance negative equity

Grumpy_chap

RelievedSheff said:

Mickey666 said:

The negative equity thing is irrelevant really.  As long as you can afford the repayments then that’s the cost of running the car. (Part of it anyway). The actual value of the car doesn’t really matter.  Cars are expensive and all they do is depreciate.

Mickey666 said:

The negative equity thing is irrelevant really.  As long as you can afford the repayments then that’s the cost of running the car. (Part of it anyway). The actual value of the car doesn’t really matter.  Cars are expensive and all they do is depreciate.

I wouldn't be so sure that they always depreciate. We have a car that we bought for £600 in 2000 sat in the garage that is now worth around £12k.

Modern run of the mill cars granted, they will depreciate quite quickly. But not all cars.

Very smug and clever cloggs comment.  Also not relevant to the thread and the OP's position, which is all about a normal car used for regular purposes.  Very different to a "classic" car that can simply be stored - which is comparable to an investment product and not motoring.