Buying a Car on Credit Card?

MattMattMattUK

bery_451 said:

Nasqueron said:

bery_451 said:

cymruchris said:

And in addition to the above - many used car prices are not as high as they were, they've fallen on many vehicle types, but there are still sellers selling at Covid prices. So do your research in detail before committing to purchasing a car. Prices are a bit all over the place in many respects.

Believe me a sibling of mine bought a car back in 2017 and I see the similar car with similar mileage going on autotrader trade price now for the same price that he paid back in 2017. Inflation has made used car prices at least doubled like it did with food groceries. Yeah blame it on Russia and say Putin took control of Autotrader hence the higher used car prices lol.

I remember pre-covid bangers use to go for like £250-£500 for a banger. Now they going at least £1000 for a banger. Hence why I said at the beginning its gonna be tough to find a good used car for £5k nowadays. If we were in a Recession then used car prices would come down but the Bank of England saying were not in a recession, were in a soft landing which makes it more confusing lol.

Only the Electric EV car market has crashed because car dealers are not accepting EV's for trade-in for numerous reasons!

Okay where can I find used cars at pre-covid prices excluding car auctions?

There is an element of ULEZ expansion bumping prices too for any compatible old banger as it's more desirable even if you are away from London. Covid hit supply chains too so older cars that run ok are more desirable than a car you have to repair but cannot get bits for

You mean bumping prices for petrol cars cause most petrol cars are ULEZ compatible. Diesel cars under 2015 reg plates are not ULEZ compatible yet because of this high Inflation problem our £gbp currency is facing even these non-ulez diesel cars have gone up in price too.
. 
Yeah right covid hit used cars supply chains hence their price increases because we import used cars on boats  Stop hiding the real problem which is Inflation currency devaluation like what Rishi Sunak does to fool us to vote for him to get him elected for the 1st time. The fool has caused the high inflation mess in the 1st place especially with his furlough schemes.

It is really quite clear that there is a lack of understanding in your posts. 

Used car prices face upward pressure because of several factors, but there were two big ones. The first was a large reduction in the supply of new vehicles, the reduction in supply meant that many lease and finance vehicles were kept longer rather than being released into the second hand market, a reduction in supply increased the value of second hand cars. The second factor was a lack of supply of parts for repairs, this meant that there were many cars scrapped or off the road due to the inability to make and keep them road worthy.

bery_451 said:

Nasqueron said:

MattMattMattUK said:

bery_451 said:

Desmond_Hume said:

The questions being asked here are suggesting to me you should just pay cash/bank transfer/get a loan. You’re way over complicating this process. 

Who has £5k liquidity cash burning in their pockets nowadays?

Very few people have it in cash or in their pocket because most people do not use cash, especially for large transactions, plenty of people have that amount or more in savings.

bery_451 said:

Loans means I have to pay interest, high interest because Rishi says high interest rates fights Inflation, yeah right lol, the interest rate has to be over the true inflation rate in order to fight it & bring inflation down.

That is how loans work. Interest rates do reduce inflation, but it is more complicated than just a simplistic switch. 

bery_451 said:

Anyone that says inflation is 5% I will throw cold water on their faces lol.

Inflation is lower than 5%, it is 3.2%. Resulting to physical violence because you do not understand facts is never a good idea. 

bery_451 said:
Believe me a sibling of mine bought a car back in 2017 and I see the similar car with similar mileage going on autotrader trade price now for the same price that he paid back in 2017. Inflation has made used car prices at least doubled like it did with food groceries. 

Used car prices have not doubled, neither has food. Food is around 30% more expensive depending on the food chosen. 

bery_451 said:
Yeah blame it on Russia and say Putin took control of Autotrader hence the higher used car prices lol.

Autotrader to not set prices, the people selling via Autotrader do. 

The official (CPI) inflation rate is 3.2% yeah but it's obviously not that low in reality, the CPIH at the least is 3.8% and Core CPIH (excluding energy, food, alcohol and tobacco) is 4.7% with Core CPI up 4.2%. Even if it's slowing, it's still just less of an increase and as you say, up 25-30% over the last 2 years (Jan 22-24)

Okay so from what you said of an increase 25-30%, what was the official CPI inflation rate 2 years ago? Was CPI 25-30% officially 2 years ago? Then from there ask yourself will you believe cooked up CPI inflation rate numbers to keep certain politicians & central bankers in power or to get votes?

All that money Rishi is spending on Wars abroad, ask yourself is that inflationary or disinflationary & his comment to increase GDP to justify the massive debt this country has is crazy. Us getting taxed does not add to the national debt amount, what adds to the debt? Its the bank of England and their money printers printing money out of thin air then loaning it to the rishi & his government to spend on proxy wars which is the very definition of Inflation!

It was 5.1%, not 25-30%, if you are unable to "believe" the inflation figures then you can go and look at the data behind them on the ONS website, they are also analysed by many different independent organisations, any attempt to fiddle them would very quickly be found out. The talk of official vs unofficial inflation is just conspiracy theory rubbish.

UK defence spending is generally flat because a lot of defence procurement is purchased from abroad. 

Taxation does not add to debt, the debt is created because of government borrowing, not people being taxed.

Desmond_Hume

Has the OP bought a car yet?

Nasqueron

bery_451 said:

Nasqueron said:

MattMattMattUK said:

bery_451 said:

Desmond_Hume said:

The questions being asked here are suggesting to me you should just pay cash/bank transfer/get a loan. You’re way over complicating this process. 

Who has £5k liquidity cash burning in their pockets nowadays?

Very few people have it in cash or in their pocket because most people do not use cash, especially for large transactions, plenty of people have that amount or more in savings.

bery_451 said:

Loans means I have to pay interest, high interest because Rishi says high interest rates fights Inflation, yeah right lol, the interest rate has to be over the true inflation rate in order to fight it & bring inflation down.

That is how loans work. Interest rates do reduce inflation, but it is more complicated than just a simplistic switch. 

bery_451 said:

Anyone that says inflation is 5% I will throw cold water on their faces lol.

Inflation is lower than 5%, it is 3.2%. Resulting to physical violence because you do not understand facts is never a good idea. 

bery_451 said:
Believe me a sibling of mine bought a car back in 2017 and I see the similar car with similar mileage going on autotrader trade price now for the same price that he paid back in 2017. Inflation has made used car prices at least doubled like it did with food groceries. 

Used car prices have not doubled, neither has food. Food is around 30% more expensive depending on the food chosen. 

bery_451 said:
Yeah blame it on Russia and say Putin took control of Autotrader hence the higher used car prices lol.

Autotrader to not set prices, the people selling via Autotrader do. 

The official (CPI) inflation rate is 3.2% yeah but it's obviously not that low in reality, the CPIH at the least is 3.8% and Core CPIH (excluding energy, food, alcohol and tobacco) is 4.7% with Core CPI up 4.2%. Even if it's slowing, it's still just less of an increase and as you say, up 25-30% over the last 2 years (Jan 22-24)

Okay so from what you said of an increase 25-30%, what was the official CPI inflation rate 2 years ago? Was CPI 25-30% officially 2 years ago? Then from there ask yourself will you believe cooked up CPI inflation rate numbers to keep certain politicians & central bankers in power or to get votes?

All that money Rishi is spending on Wars abroad, ask yourself is that inflationary or disinflationary & his comment to increase GDP to justify the massive debt this country has is crazy. Us getting taxed does not add to the national debt amount, what adds to the debt? Its the bank of England and their money printers printing money out of thin air then loaning it to the rishi & his government to spend on proxy wars which is the very definition of Inflation!

Dude there is probably a forum, if not on here, then elsewhere, for posts about your theories and why you know better than independent analysis, this forum is not it.

Nasqueron

bery_451 said:

Nasqueron said:

bery_451 said:

cymruchris said:

And in addition to the above - many used car prices are not as high as they were, they've fallen on many vehicle types, but there are still sellers selling at Covid prices. So do your research in detail before committing to purchasing a car. Prices are a bit all over the place in many respects.

Believe me a sibling of mine bought a car back in 2017 and I see the similar car with similar mileage going on autotrader trade price now for the same price that he paid back in 2017. Inflation has made used car prices at least doubled like it did with food groceries. Yeah blame it on Russia and say Putin took control of Autotrader hence the higher used car prices lol.

I remember pre-covid bangers use to go for like £250-£500 for a banger. Now they going at least £1000 for a banger. Hence why I said at the beginning its gonna be tough to find a good used car for £5k nowadays. If we were in a Recession then used car prices would come down but the Bank of England saying were not in a recession, were in a soft landing which makes it more confusing lol.

Only the Electric EV car market has crashed because car dealers are not accepting EV's for trade-in for numerous reasons!

Okay where can I find used cars at pre-covid prices excluding car auctions?

There is an element of ULEZ expansion bumping prices too for any compatible old banger as it's more desirable even if you are away from London. Covid hit supply chains too so older cars that run ok are more desirable than a car you have to repair but cannot get bits for

You mean bumping prices for petrol cars cause most petrol cars are ULEZ compatible. Diesel cars under 2015 reg plates are not ULEZ compatible yet because of this high Inflation problem our £gbp currency is facing even these non-ulez diesel cars have gone up in price too.
. 
Yeah right covid hit used cars supply chains hence their price increases because we import used cars on boats  Stop hiding the real problem which is Inflation currency devaluation like what Rishi Sunak does to fool us to vote for him to get him elected for the 1st time. The fool has caused the high inflation mess in the 1st place especially with his furlough schemes.

Part supplies, manufacturing, imports yes were all hit by Covid, just as they have been with Brexit, not talking about importing used cars, importing the parts needed to keep them running!

My diesel car is 2014 and ULEZ compliant but regardless, yes ULEZ impacted car prices because people were selling off older diesels and wanting compliant cars

Eldi_Dos

Phoenix72 said:

Somewhat deviated from the original question?

At 5k sat nav might not be functioning?