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For all those who get an 'allowance', its not an allowance its CASH!
In my last perm role I got a £10k 'allowance' (plus 40ppm), give-or-take £500 net per month. My car cost me £2.5k, so after 5 months I was in the money.
Most I've ever spent per month was £217, in 1990..., a s/h 309GTI.
My truck cost £12k of which I put £5k cash down and the rest on finance, which costs me £190 pcm.
Fuel is getting on for £500 pcm though and other running costs (insurance/servicing/tyres) around £200 pcm.
So getting on for £900 pcm to run my vehicle - it's my only vehicle though and 90% of my mileage is business use, so in reality it costs me £90 pcm, plus £500 deposit to run around in a stonking great 4x4 and the rest goes through the business.
[i]it's for mugs and microwillys[/i]
It's always the poor folk that say stuff like that. I'm quite sure if you could afford a reliable, newish car, clearly you ant so you try to put people down who can. If you say that to people in real life they would just laugh at you.
£17k new (Mazda 3)
Made up of: £5k px + £3k cash + balance on interest free finance for 3 years.
Costs £240pcm. I could have gone through a saving process and bought it outright at the time, or I could just simply smooth the cashflow impact by spreading a £9k payment over 3 years.
2 years to go then we own it and won't change it for a while after.
I've got a company car, so I pay £165 per month for a 09 Mondeo Titanium x. That cost includes all breakdown, insurance, tax, replacement tyres and parts.
At the end of the day I will never own it, but I don't mind as I do 30k miles a year and i will generally be run into the ground, so Im glad its not mine.
Just pay what you can afford.
My brother in law gets an £5K P/A 'interest free' loan from his employer towards a car. He then adds an extra £150 of his own earnings to get a top of the range A4. I don't see the logic in that personally.
Gary_M - Memberit's for mugs and microwillys
It's always the poor folk that say stuff like that. I'm quite sure if you could afford a reliable, newish car, clearly you ant so you try to put people down who can. If you say that to people in real life they would just laugh at you.
rubbish i could buy a very nice car outright if i wanted
as it goes my 03 plate focus that i bought for 3 grand does me just fine (well it will when i replace the faulty speed sensor this weekend :oops:)
im happy enough with myself that i dont have to compensate buy buying an expensive motor
at 1 pound 40 a litre of petrol plus insurance plus tax plus the traffic jams cars are undoubtedly for mugs
as for willy waving... unless you go to track days or do the paris dakar or have to rescue sheep from the fell what else does owning an porsche, imprezza or a 4x4 acheive
Your brother in law still pays tax on the commercial rate of interest as a benefit in kind and I'm assuming the loan £5000 each year so that he pays for the Audi over at least 4 years. Not the best idea but at least he saves a bit on actual interest payments.
I don't own a 4*4, Porsche or impreza - a Honda accord in fact which is hardly willie waving now is it.
Kimbers you didn't make the comment and I don't think you're suggesting buying a new car is a mugs game/willie waving. I also buy used cars but now and again it's nice to buy something brand new just because you can.
FFS Kimbers, why must everything to do with anyone who has a nice car come down to compensating for something?
It's the biggest crock of horseshit I've ever heard and it keeps on getting trotted out by people who either can't afford nice cars, or aren't interested in cars - often because they are scruffy hippies.
You don't like nice cars - some people do, get over yourself.
I drive a 4x4 btw - I'd ask you to tell me why I shouldn't, but it's been done to death.
at 1 pound 40 a litre of petrol plus insurance plus tax plus the traffic jams cars are undoubtedly for mugs
Yet you still drive one?
Mug
What you also fail to realise Kimbers is that your '3 grand motor' could also be seen by some less fortunate individuals as an expensive motor and also a case of willie waving.
It's all relative isn't it.
And i really struggle to understand why anyone thinks buying a £25k car is willie waving. Seriously if you do you must live very tawdry lives. Stop worrying about everyone else and live your own lives.
well i am indeed a scruffy hippy,
cars dont really excite me as such, though i have been OFFROADING(tm) in oldschool defenders a few times and loved it,
was also recently a passanger in a boxster driving from london to aberystwyth and that was terrifying and fun
while the 3 grand focus was the first time i had a car worth more than one of my bikes so i did feel terribly bourgeois
i still think driving is a mugs game; it can be fun but also dirty, expensive, unhealthy, frustrating and while i fully appreciate the joys of the shiny and new im far too tight to get my head round the depreciation thing- its madness
unless you go to track days or do the paris dakar or have to rescue sheep from the fell what else does owning an porsche, imprezza or a 4x4 acheive
I hope you use your bike to its full potential too otherwise your just will waving with whatever you ride.
I hope you use your bike to its full potential too otherwise your just will waving with whatever you ride.
nah i just use my dh bike to comute to work or go to sainsburys 😕
here's another viewpoint.
My wife works evenings and I want her to have a reliable car that she is comfortable in and which she is confident isn't going to break down leaving her on a roadside and me at home with young kids so unable to immediately drop everything and rescue her.
We've just arranged one and will be paying her old car as PX plus 139 a month on 2.2% finance. I can't be arsed to work it out but over the course of the loan that's about £400 in interest or less than a pint of beer a week.
To me the interest is like someone renting me the car for a tenner a month AND I get to keep it at the end. Whereas if I saved up to pay for it in cash she'd be waiting for 2-3 years before we can afford a new one.
Credit is not evil, if you know what you're doing and can work this stuff out. Good for all the folks that can pay in cash, I'm made up for you but I get a bit fed up when you look down your noses at folks that willingly play the credit game as if that makes us somehow inferior.