Abolish standing charges

Hoenir

wild666 said:

JSHarris said:

MikeJXE said:

It's hard to believe the is a cost of living crises from what I see every day

 I am a pensioner and live on the state pension and a few savings in a rented flat and I'm not feeling the pinch 

I live in a small market town centre of England

The pubs are rammed so are the cafes and restaurants 

Last Friday i had never seen Tesco Extra car park so full, shoppers coming out with 2 trollies each 

Lots of Tesla cars about so someone has some money

It's all on borrowed money I suspect.  Borrowing has been so cheap for so long that there is a whole generation that don't believe in ownership they just rent everything, from phones to cars.  Virtually no one buys a Tesla, for example, almost all of them are rented in one way or another.  For years it's been cheaper to rent cars than own them, as there are almost no risks involved for the driver - if it goes wrong the owner (finance company) fixes it, if you lose your job and can't afford it you hand it back.  

I've never got my head around how it works, but about 15 years ago I bought a new car (never done this before).  The dealer really didn't want me to buy it, and tried really hard to get me to have it on finance (something I've never done in my life).  Turned out that the real price for the car was a heck of a lot lower than the apparent cash price, so "selling" cars on finance earned the dealer a big commission, as the finance company paid a lot less for the car from the manufacturer.  Now it seems that leasing dominates the car market, and that fits well with the "I want it now" mentality of those that can't afford stuff but don't see why that should stop them having it.

I have only ever had two items on finance and they are a vacuum cleaner and the PS4 on a buy now pay later interest free option I paid both off before they added any interest to the price, one I paid off a full month early just because I didn't want to forget about it and the other I paid a week early. Finance companies don't like me because if I use the BNPL option I always pay the full amount by the time the first payment is due.  

The finance company will thank you. As they've been paid earlier. Not paying them and leaving the money on deposit to your own advantage is the option to take. 

MattMattMattUK

wild666 said:

JSHarris said:

MikeJXE said:

It's hard to believe the is a cost of living crises from what I see every day

 I am a pensioner and live on the state pension and a few savings in a rented flat and I'm not feeling the pinch 

I live in a small market town centre of England

The pubs are rammed so are the cafes and restaurants 

Last Friday i had never seen Tesco Extra car park so full, shoppers coming out with 2 trollies each 

Lots of Tesla cars about so someone has some money

It's all on borrowed money I suspect.  Borrowing has been so cheap for so long that there is a whole generation that don't believe in ownership they just rent everything, from phones to cars.  Virtually no one buys a Tesla, for example, almost all of them are rented in one way or another.  For years it's been cheaper to rent cars than own them, as there are almost no risks involved for the driver - if it goes wrong the owner (finance company) fixes it, if you lose your job and can't afford it you hand it back.  

I've never got my head around how it works, but about 15 years ago I bought a new car (never done this before).  The dealer really didn't want me to buy it, and tried really hard to get me to have it on finance (something I've never done in my life).  Turned out that the real price for the car was a heck of a lot lower than the apparent cash price, so "selling" cars on finance earned the dealer a big commission, as the finance company paid a lot less for the car from the manufacturer.  Now it seems that leasing dominates the car market, and that fits well with the "I want it now" mentality of those that can't afford stuff but don't see why that should stop them having it.

I have only ever had two items on finance and they are a vacuum cleaner and the PS4 on a buy now pay later interest free option I paid both off before they added any interest to the price, one I paid off a full month early just because I didn't want to forget about it and the other I paid a week early. Finance companies don't like me because if I use the BNPL option I always pay the full amount by the time the first payment is due.  

0% BNPL companies make their money from a cut of the sales price, they love people who repay early.