PCP isn't MSE

motorguy

dipsomaniac said:

This forum has been hijacked by people thinking it's ok to spend £200+ pm borrowing money to drive a car. It's not MSE.  People that can afford that don't need MSE imho. It's not me that needs to recalibrate. Maserati anyone?

It hasnt been hijacked by anyone.

Its simply your view needs recalibrated as to what this forum and site is for.  I've been on this site for 17 years and it was NEVER about eking out a living in a spendthrift way.

motorguy

Sea_Shell said:

Surely some of you must at least agree that PCP enables people to drive a car that they otherwise could not afford, if they had to buy it outright on old fashioned HP finance over 3 years.

Why settle for a Vauxhall on HP, when you can have a Mercedes on PCP for the same £xxx pounds a month.

Because you're worth it!!! 

That Merc at their door might be costing them no more than someone else is paying for a Focus.

And who are you - or I - to decide on how other people chose to spend their money?

dipsomaniac

I am not saying 'its about eking out a living in a spendthrift way' I am saying PCP is not MSE. What is wrong with driving a £200 car? One month's payment for your niece.

motorguy

dipsomaniac said:

It just seems to me that MSE is all about saving money or investing except the motoring forum

Going out deals sub forum - an extravigance, surely?

https://forums.moneysavingexpert.com/categories/going-out-deals

Overseas holidays - Madness!

https://forums.moneysavingexpert.com/categories/overseas-holidays-travel-planning

Gaming board - buying consoles??? How very dare they!

https://forums.moneysavingexpert.com/categories/gaming-moneysaving

Phones & TV - new phones, TVs and SKY subcriptions - crazy talk!

https://forums.moneysavingexpert.com/categories/phones-tv

dipsomaniac

People don't PCP those

AdrianC

motorguy said:

dipsomaniac said:

PCP is all about people that can't afford a 40 k car driving a 40k car. 

Look at the top 10 cars sold in the UK.  Almost all of them are run of the mill stuff like Corsas, Fiesta and Focus.

March 2021
1. Corsa (8k) - £15.5k+
2. Fiesta (7.5k) - £16.5k+
3. Merc A class (7k) - £23k+
4. Tesla 3 (6.5k) - £42.5k+
5. Qashqai (6.5k) - £23k+
6. 3-series (5.5k) - £30k+
7. Golf (5k) - £20k+
8. Yaris (5k) - £16k+
9. Ford Puma (5k) - £20.5k+
10. Mini hatch (5k) - £15.5k+

motorguy

dipsomaniac said:

I am not saying 'its about eking out a living in a spendthrift way' I am saying PCP is not MSE. What is wrong with driving a £200 car? One month's payment for your nice.

Nothing at all wrong with driving a £200 car.  I've had many (cheapest was £90!)

However if someone can / wants to spend more, then whats the issue?

This board is here to help ensure they can do so and not spend more than they need to.

Maserati guy on the other thread.  If we advised or guided him correctly, he might well save several thousand pounds.  Is that not a good thing?

PCP or new car discount thread.  If we can point people in the right direction for the best deals then is that not a result?

Someone with something older needing advice on where to get parts cheap.  If we can guide to the right place is that not a result?

dipsomaniac

Don't disagree with a lot of that but how is PCP saving money?

strawb_shortcake

For many years now I've been quite anti debt, and liked to reduce my financial commitments as far as possible. But I now feel I'm quite done with having older cars, fed up with having cars for the last 18-24 months before they die.
My last car died March last year, we were able to spend more on a much newer to us car which gives me greater peace of mind. 

If, I felt happier with my disposable income level (which isn't bad considering we still live on one average ish wage) then I'd absolutely consider PCP, and swapping my car every 3 years even if I had £10-20k in the bank. I like the thought of having no MOT, minimal risk of bigger jobs needing to be done. My savings in the bank can also continue to grow or be deployed for other uses and I don't have to have the discipline to save and replace the £10-20k for my next car. As much as I do love the Merc E class, and it's hands down the best car I've ever driven, I don't feel the need to stretch that far. 
The £200 pm PCP isn't always just about the car but the intangible benefits that come with it, for some it's the image or illusion, for others it's the peace of mind, or convenience or how they best budget or just because they can.

WRT the Maserati chap, we don't know what financial decisions and sacrifices he may have made to save that kind of money, but to different degrees don't most of us live to the same principles? Picking your priorities in life, and realising that for the fancy car, holidays, house etc something else may have to give? MSE can play the part of helping you to save in one area to realise your dreams in another.

motorguy

AdrianC said:

motorguy said:

dipsomaniac said:

PCP is all about people that can't afford a 40 k car driving a 40k car. 

Look at the top 10 cars sold in the UK.  Almost all of them are run of the mill stuff like Corsas, Fiesta and Focus.

March 2021
1. Corsa (8k) - £15.5k+
2. Fiesta (7.5k) - £16.5k+
3. Merc A class (7k) - £23k+
4. Tesla 3 (6.5k) - £42.5k+
5. Qashqai (6.5k) - £23k+
6. 3-series (5.5k) - £30k+
7. Golf (5k) - £20k+
8. Yaris (5k) - £16k+
9. Ford Puma (5k) - £20.5k+
10. Mini hatch (5k) - £15.5k+

Ok,  "mostly" instead of "almost all".