1968 1500 VW Beetle at 23, 53 now and still have it. Hasn't moved in at least 15 years though.One day one day....
At 23 I would of had my AX GTi bought two years earlier for £1400. A year later I bought a JDM Prelude for £2300.
I'm also of the view that they could sell the car, and either clear payments or pay off last remaining bit.
Unless of course she was sold a car at twice the price it was worth...
First car was a Fiat that cost me £90 that I earned cleaning the loos in the local National Park car park. That was back in 1984. The last car I bought 2 years ago was a broken Audi that I also gave £90 for, changed the gearbox, and have been driving reliably since.
At 23 I think I had two cars, a convertible and a nearly new c-max for biking and other stuff. So ermmmmmm.......
Yeah I saw that as well and didn’t have a lot of sympathy. Dodgy Astra for me once I was working full time, at university it was walk, cycle or
Hang on a moment.......
£329 a month for a car is a lot less than the rent on student digs. And once shes graduated she will still have the car. It's not complete financial madness (assumption: she needs the car because she's living at home and commuting to uni).
And it says she was paying that out of her wages not her loan. So again, not too financially daft (unless she could have taken the student loan and got a car with it).
Mind you with the number of students cam whoring and selling themselves on sugar daddy websites reaching epidemic levels, it probably doesn't seem a lot of money to that age group when they are all raking in £3k+ a month for a few hours a week 'work'.
somafunk
Subscriber
nah…..I ain’t a genius really but cmon………do you really think she went to a Audi main * dealer to get a cheap runaround to get her from A to B whilst at uni?, she wanted a * Audi as a status symbol because anything else would not be fitting of her aspirations and how would she ever gain access to her desired social class if she drove anything else?
You think it's more plausible she went there expecting to be offered finance to buy a £20000 car with no affordability checking?
Besides, exactly how many doors do you think driving an Audi open? I don't remember seeing it when I was filling in my Illuminati application. It'll impress middle aged mountain bikers down the local trail centre I suppose.
matt_outandabout
Subscriber
Unless of course she was sold a car at twice the price it was worth…
It seems pretty unlikely that a salesman that upsold her to £20000 and gave her finance that was completely unsuitable, also gave her an especially good price. But even if she did, she'll not recoup it on a private sale.
I work with loads of people in their 20s in the NHS in nursing, some unqualified staff are on 16k a year. One lad on 16k is driving an evoke (white obviously).
High percentage of the nurses have BMWs and Audis on the never never. When talking cars they can't get thier head around me driving a 6 year old ford and 10 year old citroen. But then I own a house and have two kids to feed, cloth and pay child care for. They live at home with mum and dad and are paying either nothing or very little in terms of keep.
One girl wants to trade in mid PCP as she does it yearly (must be losing money here) and get a Q7 (white obviously) with a 26k income. Fair play.
Oh and for the thread title at 23 I was driving an XR2i bought for 2.5k. That was white as well.
The next big sub-prime bubble bursting moment.
Near as £46bn borrowed in 2018! WTAF? Amazing to think that none of that money is real or exists... we’ve been here before...
blimmin entitled millenial snowflakes.
I had to wait until I had a job after uni for a couple of years before I could afford a car (on HP), and that was in the days of student grants, not loans.
poverty level has clearly changed in the last couple of decades. I had to do with an an effing rubik's cube as a christmas present... and that had to be shared with my 2 brothers. now poverty is "no you can't have another iphone because you broke the screen again, you'll have to wait till your next birthday!".
if you can't afford 329/month, then you can't afford a car. full stop. and do they still exclude student loans company repayments from your credit score?
not just parents fault for not educating kids. home finance should be compulsory education in school too.
blimmin entitled millenial snowflakes
You do know that millenials are born from the start of the 80s to the mid nineties dont you? It's more a generation z hate you need to be looking at.
We came of aged at the turn of the millennium hence the name.
It's the standard singletrack response to label us all useless.
My peers and I worked hard for everything we have. Though I had a Sega megadrive not a rubix cube. Even had to buy my own first mobile phone and car aged 18. The horror!
Kind regards,
A self entitled millenial snowflake
Societies fault
Exactly. If they had to join the army and learn to kill people they would learn to appreciate the value of things.
she should know she can’t afford a top of the range car.
A £20000 Audi is not a "top of the range car".
But yeah, "she was pursuaded to buy ... ".
A 1.3 Uno with dodgy third-gear synchromesh (they all do that sir) was my ride at 23. It did a lot of miles between the East Coast and Cardiff while we waited for Mrs Sandwich to get a transfer.
Article contradicts itself. The mum complains that people shouldn’t be sold finance they can’t afford - which I agree with 100%. But they only stepped in to pay the bill [i]after[/i] daughter lost her job. So she could afford it? Albeit probably living at home & spending virtually all her wages from PT job paying for the stupid car. Give up car, declare bankruptcy, life lesson, move on 😀
I work with loads of people in their 20s in the NHS in nursing
Doesn't the NHS have ridiculous good value PCP deals including maintenance avaiable to staff? A friends partner is just about to get an A2 for around £340 per month all - servicing, maintenance, insurance.
Thats pretty sensible fixed cost motoring (if you can afford it)
BBC website, full of clickbait news stories about upper middle class idiots from south of the Watford Gap.
You could say they are doing a public service by making an example of these people.
Anyway. If there's one positive thing I can do for my kids it's to show them how debt can **** up your life.
Back when I had a Hillman Imp, you had to have an iota of intelligence to go to University. That’s the biggest change I can see.
If they had to join the army and learn to kill people they would learn to appreciate the value of things.
A Challenger 2 tank is £4.2 million quid.
Also available on PCP for £78,750 per month. No credit checks.
Mind you with the number of students cam whoring and selling themselves on sugar daddy websites reaching epidemic levels, it probably doesn’t seem a lot of money to that age group when they are all raking in £3k+ a month for a few hours a week ‘work’.
That’s how I funded my lavish lifestyle at polytechnic. Not quite the same returns on investment for sending Polaroids by second class post though
so my first ‘car’ was an ex council transit auctioned off by a council that had been poll-capped
A Citroen Dyane - bought with a blown engine, had it towed to local 'specialists'.
New engine was fine and it lasted ages. Simple to fix, amazingly flexible and fun to drive and own.
Got rid few years later as my dad stopped driving and I wanted to keep his old Fiesta MK1 going (957cc, drum braked throw back, but I loved it). Learned to drive in the Fiesta - possibly on it's second floor at this point.
That lasted until there was nothing left to weld and I bought the world's most boring Mk 2 Jetta.
Mind you with the number of students cam whoring and selling themselves on sugar daddy websites reaching epidemic levels, it probably doesn’t seem a lot of money to that age group when they are all raking in £3k+ a month for a few hours a week ‘work’.
Are you OK there mate? Bit of a weird comment.
While some threads bring out the best in this forum, I think this one's bringing out the worst - even from contributors who normally seem sensible.
Yes the world is going to hell in a handcart, but youngsters are the last ones who can be blamed TBF.
Are you OK there mate? Bit of a weird comment.
Fine thanks. What's weird about it, haven't you seen this in the news? 3 million signed up across these types of sites in the UK alone, 56k young women in universities across the UK signed up to a sugar daddy website, several universities have 1k members. Adverts and billboards promoting the websites on campus as a way to pay tuition fees. 36% increase in sign ups in 2019 compared to 2018 which was up 22% on 2017. Universities appointing staff to give advice on the subject etc etc.
I'm not blaming the youngsters, I'm commenting on the fact that some of them are raking it in, therefore £300 odd a month can seem trivial amongst certain peer groups.
I’m not blaming the youngsters, I’m commenting on the fact that some of them are raking it in, therefore £300 odd a month can seem trivial amoungst certain peer groups.
Yeah, I mean, look at the car parks at Sunday league football, I mean some footballers are raking it in, so buying a Bentley is trivial to the players
While some threads bring out the best in this forum, I think this one’s bringing out the worst – even from contributors who normally seem sensible.
Just what I was thinking.
I had an Austin Healey Sprite when I was 23 - given to me by an ex when we split up! Turned out to be 'quite' rusty though.
blimmin entitled millenial snowflakes
Yup. PCP is exactly the same as your generation going out on a Friday night to hotwire an Escort XR3i or or Nova GTe before doing your bit for the aids epidemic in the back seat.
Bloody generation X ruining car insurance and casual sex for everyone.
At 23 I couldn't afford a car that went as fast as my motorbike so I didn't have one.
I haven't read the detail, but would she own the car after 5 years, or like many current deals have to return it or pay a hefty outstanding sum? That might affect her ability to sell. It has got me wondering though - what would I do if I was the parent. My initial instinct would be to say "your problem, you deal with it", but ultimately I'd do what was best in the long run for my offspring, which might be to pay it, or might be to get legal advice about terminating the contract. I did something similar on a much smaller scale as a 17 year old (in order to get a state of the art CD player). In my case though I paid most of it off through paid work after school, but I still asked my (irate) father for some help. What I find a bit shocking is how little change there has been in how easy it is to get HP in the intervening 30 years.
In 1987 I took out a £1000 loan to buy and insure! a mk2 cortina.
I loved❤️ that car.
Wow, she pays more than I do for what was a new 35k Skoda Superb estate.
I'm not one to talk though, at 23 I had an Impreza STi V4 Type R. 😆
She needs a knackered nissan micra, like what I had. You could have bought one and a third of it outright for 329 smackers. Total fanny magnet. And when the exhaust fell off it sounded like a spitfire
At 23 I had a GSX-R 750 and a KTM 250 Enduro, as cars seemed something too boring to even contemplate. Mind you, I left school at 16 and got a decent job.
I went back to university a year later and they both got sold and it was mountain bikes and buses
The idea that as a student you could finance something like that is just bonkers. You’d be hard pushed to finance bangernomics, never mind specced up Audi’s
Total financial illiteracy, not to mention a sense of entitlement.
Stricter finance checks? FFS! Just have a look at your bank balance. You’ll soon know if you can afford a twenty grand car or not.
just wanted to chime in to say that i, too, am morally and intellectually superior to that there bint
hell in a handcart!!!!!1111
You bloody miseries
If I was coming out of uni now with what is now basically an entry level qualification for £40k+ of debt, house prices 8 times the average wage and still living with my parents i’d Drive whatever the hell I wanted Grandad so sit the hell down.
i’d Drive whatever the hell I wanted Grandad so sit the hell down
Yeah, but 'Car payments are ruining our lives'..
Yeah, but ‘Car payments are ruining our lives’..
Yea, but young people not moving out and getting on the house price ponzi scheme is ruining boomers retirement plans to live on the proceeds of downsizing and a series of slum buy to let terraces in Bradford.
I see all these young kids in nice expensive cars and I think, well... It's better than pissing it up against the wall!! I do wonder how many realise they won't own the car at the end.
I had a crappy mk2 escort 1600 Ghia X at the age of 18 (circa 1999)! It cost me £100, insurance was nearly 10x times that.
About 3 years later I replaced with a Classic Mini Checkmate, British Racing Green, it came with a knife to start it! Again it cost me £100, insurance was a lot cheaper than the escort. I blew the headgasket a couple of times a year and made it "not so slow".
A couple of years after I replaced it with a 2.5V6 mondeo for £500, that was a shock coming from a Mini! I got rid of it after about 5 years, as a friend was kind enough to let me borrow his car for 8 years! So up until my mid 30's I had only spent £700 on buying cars and was only without a car for a couple of years, as I didn't need one. It's all good, I spent the money on mountain bikes instead 😉
My current car cost about the same as one of her monthly payments. Status and 'fitting in' costs money.
Can't go with the thread title - first car was £7k, bought age 22 on bank loan for about £200/month, paid off in 3 years. I lived at the parents for a year of that. I could just about afford the loan and living in a flat/shared place for the other two years. I don't feel the need to do a mid life crisis car now - been there. Looking back it was too much car, but realistically the bank loan was significantly less onerous than PCP or HP and I always had the option to sell the car at any point.
The girl in story just seems to be a financially challenged chump who has walked into this eyes wide shut. Parents maybe ought to have known that and maybe, just maybe, gone along to prevent her being handed a large amount of rope and not having the wherewithal to refuse it.
Simple solution. Don't pay. Lose car. Open Autotrader (or car selling website of choice). Cars within 20 miles, sort by price low > high. Spent £500. £1000 if you're feeling flush.
You're buying a brand new ****ing car. That's a good monthly payment for what you're getting but you don't need it.
Not quite new:
Her 23-year-old daughter, Victoria, was sold a second hand Audi A1 on a five-year hire purchase deal in early 2017
although
she was persuaded to buy the Audi, which will end up costing her more than £20,000
which does seem a lot for a used car where:
autoexpress:
Prices for the new Audi A1 begin at £18,450 with deliveries starting at the end of November. Audi has confirmed the new A1 Sportback will be priced from £18,450 for the base SE model, climbing to £23,180 for the range-topping S-Line.
which probably means a sticker price of £18k, if the HP was about 6%.
Can't have been that used.
If it's HP they should just hand it back and walk with whatever fees and cash difference they need to pay. Life lesson.
I took me a long time to realise that credit catches up with you eventually.
Other than a 93k mortgage, and a small credit a agreement for an £800 camera, I owe nothing to anyone else. I'd like to keep it that way.
Buying a new car is a mugs game, leasing a brand new car is also a mugs game.
If you must, get a loan and get a 5yo used car for 5k. Much more affordable and wont depreciate like a rock (its already done that).
mrmonkfinger
Member
she was persuaded to buy the Audi, which will end up costing her more than £20,000which does seem a lot for a used car
They're including the cost of credit in there, who knows what the cost of the actual car was.
Seems odd that there was no conversation when she arrived back at the family home with a pretty new car.
Question 1: Can you afford it? Well, let's have a look at those numbers then.
My sister in law rents a flat at £1k per month, then bills, on take home of just over £2k. Still lives a champagne lifestyle. No idea how she affords it. She's 47
Still lives a champagne lifestyle. No idea how she affords it.
Maybe it's Cava?
