RB5_245

What's interesting is during the afternoon the number of newages was a good bit ahead of the classics, now that it's evening and all the real workers have got home the classic numbers have overtaken

Conclusion.... Real Men drive classics

scooby-si

paid cash for my 22B, 2 1/2 yrs ago

sammyh

iTrader: (1)

Can I have an option for owning two outright and have a part loan for the third?

dean/abz

i own my classic bought it last week

Matt Classic

Got a part loan on my car, not that I cant afford to save up and pay it off, but looking at my monthly outgoings I'd rather just pay it off as it depreciates.
Spending £50 a week on lunch, a further £30 on coffee in the mornings and bacon rolls, then a £100 a week on socialising means I'm hardly hard up, but would rather enjoy my whole life as opposed to just when I look at the car and think.......thats paid off, now I better get back to my soggy sarnies and stay in to watch eastenders again.

sr-stig

Great poll!!

I can gladly say i own my classic and paid cash for it. All mine with no worries so i can still enjoy a night out or 2 or 3 or 4.

EVOLUTION

firstly, buying a car with finance or cash makes no difference. It costs more going the finance route, and it makes more sense to buy it that way if you are outlaying 20+K.

I dont want every penny i have tied up in a car, i can afford to outlay about 700 to 800 on my car every month, with interest rates being so competetive when i bought mine, the interest on top wasnt a great deal, so i took part finance.

If you can afford to have all your mony tied up, then so be it, but as to it making a difference as in terms of owning it, what a load of crap.

Are you saying that you value your car more because you payed for it in cash ?

I fail to see the point in the pole TBH mate


just another point, going through a lease or finance company gives you a little more leverage when it comes to getting things sorted as well, as im currently finding out with a new car thats about to have its 3rd engine fitted

Varboy

can't believe that so many people have apid their car loans off

silent running

LOL you fail to see the point in the poll but here you are, on this thread! Can't be that pointless otherwise why are we onto page 3 of it within 24 hours?

Anyway, as I said when I started this thread, this follows on from the other thread where the basic argument was that because Classics can now be had relatively cheap, Classic owners are therefore chavs. And that got me to thinking...how many of these newage owners (not all of them but there do seem to be a significant number who look down on classic owners) actually own their own cars? I get the feeling that they somehow feel sorry for Classic owners because they are too poor to drive a more expensive car and have to put up with chavs and youngsters being able to drive the same thing, yet I bet there are a hell of a lot more CLassic owners who actually genuinely OWN their cars, compared to Newage models which are probably still owned by the bank or finance firm, or by the mortgage company indirectly.

And yes, I absolutely do value my car more because I paid in cash. I have had loans for cars before and spent a few years paying them off, and I know damn well that it's a hell of a lot easier to sign a piece of paper and commit to a little every month than to pull out a stack of notes an inch and a half thick, knowing that once you hand over the lolly, that car is YOURS and you need to stick with it through thick and thin.

My money is not 'tied up' as you put it - it is SPENT. Perhaps you'd rather I did something else with 5 grand cash, so it wasn't 'tied up' in actually buying something outright? Well if you know of any guaranteed scheme where i can invest that money and for the next few years it will outperform the market by so much that it will cover car depreciation, pay off the equivalent monthly capital and interest repayments that I'd have make by signing up for a 5 grand loan, then let me know. In fact, you should be writing a ground-breaking theory of finance at this very minute, because AFAIK borrowing always costs you more than saving will earn you.

Matt Classic

Ok, so your money is all tied up in your car. Your central heating fails (assuming you own your own property) and the engine lets go in your car.
Do you have saving to cover this too or would it go on credit card ? (or would you save and wait until you can afford to have them both repaired)

I think what Evoultion is trying to say is that its better to have a fall back fund, rather than invest all your surplus cash in a car.

Stephen Pope

Totally agree. If I had a spare 20k, I would spend it on home improvements or pay off some of our morgage. That said, the £350 I spend a months hurts, as does the £75 on insurance. That said, I do get a car allowance at work and also a shell fuel card!!!!!!!!!!!

homerjay

if you have no mortgage then it makes sense to purchase the car outright (if you have the cash)

but having a mortgage, then pumping 20k cash into a car is just plain dumb.

Lee_1075

iTrader: (1)

I suppose it depends on where you live, My Classic is still owned by the Bank, i took out a loan and i have no probs with that at all!, as long as i can pay off my debt and live happily, why bother saving for years?? i got 1.0%apr on the deal, so there isnt a real big difference. Its a MY98 first registered in 06/2000 with only one owner and FSH. It cost 11500€, (Which isnt really expensive at all) for another 5000€ i could have got a 04 STI. Classics have high prices over here. I dont like the newage shape nor the Surfboard spoliers on the Saloons, thats why i oped for the Classic wagon

homerjay

1%!!!!

christ, ya rattling the bank manager?

Lee_1075

iTrader: (1)

Nope alot of dealers are doing that over here, infact alot do 0.0% too (New cars).

EVOLUTION

My point in posting, i was maybe thinking you would elaborate a little with some sensible feed back, but, looks like im not going to get it.



Feel sorry for classic owners, what the hell are you on mate??? In case you hadnt yet realised, you are posting on SCOOBYNET, which from what i was lead to believe, is an enthusiasts site is it not.

I dint feel sorry for classic or bugeye owners, and i dont think you will find many if any people with that attitude on this site.

I love the shape of the classic, but there are 2 main reasons stopping me from buying ANOTHER,

A, you cant buy a brand new one anymore

B, you cant get a classic with a manufactures warranty any more either

I drive my car for what it was meant to, in doing so, parts wear out and so on, so in buying a brand new one, i pretty much know what i have got to start with, ie, i know it hasnt had any accident damage, been screwed by a previous owner and so on.

Expalin with a sensible reason how you value your car more than me, what is it you value more??? then maybe i can give you an answer as to how you dont, at best mate, i would say you value your car as much, not more...

Yes its very easy to get credit, but its not so easy paying it off, or did your brain not think that far ahead???

I took out the finance for as long as i plan to have the car, 2 years mate, and i put a reasonable deposit down on it, so, what that equates to is £22,000 payed off in 26 months to be exact. In this timescale, im looking to buy a house, so i need cash readily available for a deposit on a house. Now, if you cant understand that, then you might as well not bother reading the rest of my post and then replying



At what point did i say you can invest in something that will cover the depreciation??? As said above, if i owned my car outright, i wouldnt have any cash to put down on a deposit. What that means, is that i would then be looking for a 100% mortgage, which is even more expensive again and it limits your mortgage lenders to if you didnt already know.

So, what i have just explained to you is called, managing your finances mate. Read it, take notice, as this is the most sensible decision i made considering a wanted a brand new car and im looking to buy a house at the same time.

As im only 24, i really dont think im doing too bad.


Oh, one last point, i take it you are a classic owner??? I do feel sorry for you, your right, but its got sweet FA to do withy your car or how much money you owe or dont as the case may be, its because your so damn narrow minded


John

silent running

I've read your post from top to bottom, and although I can see your point of view in some ways, please don't lecture me on mortgages or credit - I can assure you I've had plenty of experience of them and I know the ins and outs. Your particular situation where you can pay off £22k in two years is great for you - I'm genuinely pleased that you're in a situation like that and best of luck to you - but I don't think you're representative of a majority of 24 year olds. And before you ask, no I don't have a mortgage even though I've had - and paid off - two in the past. It's condescending of you to start telling ME about 'managing my finances'.

You ask at what point did you say anything about covering depreciation. Well, you made your comment about my money being 'tied up' - by which I presumed you mean I spent cash on an asset (a car) when I should have borrowed the money to buy this asset instead and used my cash on something else? By all means correct me if you meant 'tying up my money' to mean something else. Anyway, assuming that this is what you meant, if I borrowed money to buy a car, what am I supposed to do with the cash which I don't spend? To make it worth my while not having cash 'tied up' in an asset, I need to be getting it to work for me. Therefore if I can't invest that cash to give me at least enough of a return to take care of asset depreciation and make the monthly payments until the end of the loan term, then it's pointless. My money is better spent in buying the asset outright and having no loan payments whatsoever.

Before you start flinging names around, calling ME narrow-minded, perhaps YOU better have a look at your own quite naive view of financial matters.

white

Not yet!!

But it's on order I promise!!

I'll class myself as an 'associate member' for know

EVOLUTION

i gave you a specific axample, you saud you value you your car more than i do, how....


Ok, so you have had financial dealings in the past, its called the a little away for a rainy day, if a iwas buying a £5,000 car, i would own it out right, but im not buying one, nor are any of the other newage owners, well at least i hope not, if they are i would like to know where they can get one for 5k


to think that other people look down on you as they have a more expensive car, WTF, do you have some kind of inferiority complex ???


And just so you know, i have looked, and my state at present is as good as it can be thanks, other peoples matters i could not give a sh** about, clearly you do, hance your poll on hear....


Just out of interest, what conclusions have you drawn from your poll results?

Anything other than 72.56% of people so far entered in the poll own there car....


Another note for you, your post is somewhat intimidating towards those that have outstanding finance, by that i mean by the way your post is worded, it is not portrayed in such a way that many people who have finance wil want to give you the time of day.

It just so happens that i really could not care what i say, nor who i say it to that you have me responding in such a way.



So, from that, i hope you can see that your poll was a complete waste of effort lol


Can wait for your next complete waste of time

nik52wrx

I think this thread/poll is pointless.
If i was to say i have paid off my car, my wifes car, and my mortgage, who would know if i was telling the truth or talking bollox just to impress.

Oh by the way, only three payments left on my Ferrari

Beat that

ste300

In my eyes for me to truely love my car, which i do, i need to own it completly. The thought of buying a new car every 3 years, with a warranty and servicing thrown in sounds like hell to me, its not my car, and im not involved in its up keep. I suppose some people want a car to jump into, have fun in but thats it. It feels a little remote, i have to know what my car is doing and truth be told i dont like brand new cars, an older model is much more fun for those mechanically minded. Infact my wrx is a little too reliable, so i have a 93 rx 7 sitting in the garage needing alot of attention.

EVOLUTION

Reality check perhaps,


Truely love your car, well, i have to hold my hands up and admitt defeat then. I like my car, its cared for in just about every way that i can do so, washed, polished and garaged. My current car is probably a bad example as i have had some quite major problems concerning the engine, but, other new cars i have had, go through the same old 5k mile oil change, it gets the very best in terms of rubber fitted, scratches if they pick any up sorted in a matter of days usualy. Everytimes something goes wrong, i pay a proffessional to fix it, its done in half the time, with the correct gear and that gives me confidence in my car. I have had a 306 Rallye which i practicaly did everything myself on, and it never had a problem concerning reliability, but i didnt have that 100% feeling from the car, always "what ifs"

So, if there are any other ways in which you think you value your car, please post them, i will probably be able to take them apart....


Please note, im talking on an enthusiasts point of view, not someone who works for a garage or the likes of


John

silent running

Thanks for all the verbal aggression. That's really appreciated.

OK firstly, I buy cars long term. I don't think about keeping them for a couple of years then selling on unless they are something that doesn't depreciate. I can't imagine really loving the car I own and all the time wondering what I'll be trading it in for soon.

Next you say if you wanted a 5 grand car you'd buy it outright. Good on you. But you tell me instead you've got a 22 grand loan which you can pay back over 2 years at the same time as putting a deposit together for a mortgage. I can't tell you how to spend your money, that's your business and not mine. You clearly have enough income to be able to do that, so as I said before, good luck to you. But that doesn't mean it makes financial sense. I can accept that you have made that choice, but IMHO as soon as you're having to borrow money to pay for things, you're living beyond your means. That's why I don't take kindly to me trying to bludgeon me with your financial wisdom. I'm just asking that you recognise that I've been there myself a number of times and now I have the benefit of hindsight. Problem is, if your posting continues the same way it has so far, you'll probably just say you don't give a **** what I think anyway.

Inferiority complex - that's a good one. I'm actually overjoyed that I don't owe anything, after years and years of being constantly in debt and I'm perfectly happy with how things have worked out for me. It's you that seems to be getting a bee in your bonnet.

You make a big deal about how you don't give a **** about anyone else yet here you are again. And yes, I am interested in this issue. That's why I posted the poll.

As far as my conclusions go, yes the results are pretty much what I thought I'd see. What I was hoping to find out was whether there would be relatively more newage owners financing their car on borrowed money as opposed to classic owners. Perhaps it does not interest you, but I've always thought it odd that there are so many people driving around in cars that cost roughly the same as the average annual wage, and I wonder whether this is driven by the easy availability of credit, whether through remortgaging, loans, hp etc. Maybe I should have got that thought approved with you first.

If my post is 'intimidating' to people with finance/loans etc then that's just the nature of the problem revealing itself. No-one likes to think they're in debt, I didn't and I still don't. Some people ignore it, some people are ok with it, some people worry about it all the time. I'm merely raising a real issue. When you look at the amount of consumer debt that there is in the UK you can't say it's just something I made up.

EVOLUTION

read the first sentance mate, and now im playing the childish card, i cant even be arsed to read the crap you posted.


i thought that wisdom came with age, but, theres always the exception to the rule

BedHog

I must agree with the pointless poll - you wanted to see if more Newage owners had loans? As they are newer and therefore (generally) more expensive I think that's a foregone conclusion really.

I did actually vote before I read all the crap that you (and others) posted else I wouldn't have bothered. I won't bother saying what I voted.

It's very personal the decision on buying a car and how you wish to finance it and very much down to the individuals circumstances.

There can't be many people who buy a new car cash, not because they can't afford to but because if they have enough spare cash to buy say a Corsa, then they probably have enough spare income to get a Mercedes on finance.

And as for valuing you car more if you own it outright? I would say definitely the opposite, you will value it more if it's costing you a lot of money every month - well generally, there is always the exception to the rule.

silent running

You already came across as a sulky teenager by the way you posted so far. All you've done now is confirm what I thought.

silent running

This seems to make a kind of sense and something I hadn't thought of. If only everyone's points could be put across without having to resort to insults and temper tantrums.

davidpa

You never tie up all ya cash in a car.
I'm with you on this point.

Rather have a roof over my head than a bloody car!
And other things in life that are more important.

davidpa

Morgages lol
I used to work at Birmingham Midshires lol
What ya want to know lol

Dude only messing . True, assets that increase in value makes total sense.

My money is better spent in buying the asset outright and having no loan payments whatsoever.

Your comment above, has the full respect it deserves.

You cant go wrong with assets lol

davidpa

God, you can tell im at work and totally bored lol

And, want to go away now and try and bet the traffic lol