MINI PCP acceptance likely?

RobM99

Grumpy_chap said:

I really can't believe that anybody thinks it is a great idea to spend 25% of their salary for 4 years to use (not buy) a car worth twice their annual salary.

...even more so in these uncertain times. Suppose the OP is made redundant? 
Sorry to rain on your BBQ Steph, but it really is a bad idea.

cymruchris

Grumpy_chap said:

I really can't believe that anybody thinks it is a great idea to spend 25% of their salary for 4 years to use (not buy) a car worth twice their annual salary.

Well to some people it's important to look like you're successful and rich, even if you're not. I would hope the OP isn't in this category. I had a family-in-law member who always had to have the newest shiniest things - brand new build house - shiny new range rover - shiny new works van - thousands and thousands wasted on trying to look rich and successful - now they're unemployed, have a broken dented van, and the shiny range rover has long gone. 

jazzyja

If you want a car on finance that much maybe go for a mini thats a few years old and low milage. Youl save 1000s and your monthly payment will be alot less with the same car. It is alot of money on your salary. I cant be a hypocrite because my car is financed but when I went to the dealership I gave them a monthly budget I could afford and they suggested some cars. I went for the HP option as I dont want the balloon payment at the end and I want to own the car not hand it back.

cymruchris

jazzyja said:

If you want a car on finance that much maybe go for a mini thats a few years old and low milage. Youl save 1000s and your monthly payment will be alot less with the same car. It is alot of money on your salary. I cant be a hypocrite because my car is financed but when I went to the dealership I gave them a monthly budget I could afford and they suggested some cars. I went for the HP option as I dont want the balloon payment at the end and I want to own the car not hand it back.

Yes - get one a year or two old that’s already dropped a lot - you’d save so much on payments if you have to finance it - you could even pick up a private plate with your initials on it for a couple of hundred pounds that you could keep forever - so nobody ever knew it’s age. 

Dr_Crypto

Why’s it a bad idea? She said she can afford it. Maybe her accommodation is already paid for? Some people like a nice car. 

pearsforlife

Yeah I have to agree with above if she wants a car and can afford it under her circumstances then there is no real problem. None of us are buying the car, she is. If she feels enlightened by comments then fair enough but if she wants the car, have it! 

DCFC79

Why not save your £3k deposit and buy a used car, if you buy the right car you could save yourself alot of money.

MinuteNoodles

Dr_Crypto said:

Why’s it a bad idea? She said she can afford it.

She can't afford it. If you can afford things you have the ability to buy it outright in cash. Being able to afford repayments is not the same as being able to afford something. This board, the debt free wannabe and bankruptcy boards are littered with people who claimed they could afford a car because they could afford the finance only to find their situations changed 2-3 years down the line and they're now shafted because they got a car they actually couldn't afford in the first place.