There's a Credit Crunch.....................
24 January 2009, 09:28 PM
#1
There's a Credit Crunch.....................
.......................so stop wingeing about the value of your car.
Car production is down 48%, we are officially in a recession, unemployment is nudging 2million and you need about 99.9% deposit to get a mortgage on a house.
Bite the bullet and wake up
Car production is down 48%, we are officially in a recession, unemployment is nudging 2million and you need about 99.9% deposit to get a mortgage on a house.
Bite the bullet and wake up
24 January 2009, 09:52 PM
#3
He works for the Gophermunt so he is fireproof....
He is just annoyed cos he has a Forrester and wishes he could trade up to a Rex, and petrol is soooo cheap...even V Power.
He is just annoyed cos he has a Forrester and wishes he could trade up to a Rex, and petrol is soooo cheap...even V Power.
25 January 2009, 09:50 AM
#4
Scooby Regular
Join Date: Mar 2005
Posts: 3,272
Likes: 0
Received 0 Likes
on
0 Posts
Do we take it your Saturday night didn't go to plan 
25 January 2009, 02:24 PM
#5
It did.
Just getting fed up of "oooooh my god my cars only worth peanuts!". Loads of peeps cannot even afford to change their cars or feed their kids.
It's just a reality check on the "Thatchers Children" generation who think they derserve everything on a plate with garnish.
Bit of a rant I know but come on guys!
Just getting fed up of "oooooh my god my cars only worth peanuts!". Loads of peeps cannot even afford to change their cars or feed their kids.
It's just a reality check on the "Thatchers Children" generation who think they derserve everything on a plate with garnish.
Bit of a rant I know but come on guys!
25 January 2009, 04:32 PM
#7
Guest
Posts: n/a
Dave
Trending Topics
25 January 2009, 06:16 PM
#8
No, the childen born in her reign.
Everyone seems to be greedy for something and it was Labour who lead us into this recession. Labour where in power when the seeds where sown for the recession that hit us in the early 80's.
But, it's global so who is really to blame, banks because they lost so much money lending to yanks who had none? sub prime lenders?
I know I am playing the devils advocate but this is going to be around for a while so we need to get on with coping and stop whingeing!
Everyone seems to be greedy for something and it was Labour who lead us into this recession. Labour where in power when the seeds where sown for the recession that hit us in the early 80's.
But, it's global so who is really to blame, banks because they lost so much money lending to yanks who had none? sub prime lenders?
I know I am playing the devils advocate but this is going to be around for a while so we need to get on with coping and stop whingeing!
Last edited by The Trooper 1815; 25 January 2009 at 06:18 PM.
25 January 2009, 07:56 PM
#10
People have always been greedy, its just that nowadays it is possible to get things, cars, gadgets etc even if you aren't wealthy, back before the wars, there wasn't that much to aspire to, cars were for the very rich but over the years people have got used to more, everyones one the latest and greatest, the best food, everyones a expert consumer.
27 January 2009, 11:10 AM
#12
Without wishing to get to philosophical about it, It’s the society we live in that’s caused it IMO. We are generally a greedy nation and very materialistic, and don’t really have a grip on what really matters in life. Its all too easy to get big loans, mortgages, finance, and credit on new TV’s etc. This sort of spending and borrowing will catch up in the end, and whilst you could argue the banks and government have been a little irresponsible, WE are the driving forcing behind it.
Thankfully once I had kids, my outlook on life became very different, and whilst I still have a modest mortgage, I no longer owe anyone anything, and I’m currently living well within my means. As a result life is good, and I take great enjoyment from just spending time with my kids, and its amazing the fun you can have for FREE.
Don’t get me wrong I'm not saying be a total scrooge either, as that will likely bring the financial cogs to a grinding halt.. I’m not one for squirreling money away, so still very much enjoy life but unless I have the money in my hand I won’t spend it. I will be going to the Canary islands in a few months on holiday and I will get a takeaway or go out to lunch when I feel like it, and I will continue to muck about with cars, but only if its truly my money, and not borrowed money, and will try and have just a little money set aside for a rainy day.
But In truth I could give the above up in a blink if I really had to. So long as I can put food on the table and pay for the roof over my head, and my family and I have our health, I will always be happy.
Its people that can’t even afford to this, through no fault or lack of effort of there own that I really sympathise with, and genuinely really feel for the thousands of people you constantly hear lost there job at the moment.
And going to the total extreme - even people that have just lost there job, should take comfort that they have there health, we do have a national health service, and we do have a government that will always try and house people and hand out enough to at least put food on the table. There are nations and people that don’t know where there next meal is coming from or whether they are going to get a bomb dropped on there head.
So in summary after a very long lead up I agree – Stop wining about the price of your car – Its just a car and a lump of metal.
Thankfully once I had kids, my outlook on life became very different, and whilst I still have a modest mortgage, I no longer owe anyone anything, and I’m currently living well within my means. As a result life is good, and I take great enjoyment from just spending time with my kids, and its amazing the fun you can have for FREE.
Don’t get me wrong I'm not saying be a total scrooge either, as that will likely bring the financial cogs to a grinding halt.. I’m not one for squirreling money away, so still very much enjoy life but unless I have the money in my hand I won’t spend it. I will be going to the Canary islands in a few months on holiday and I will get a takeaway or go out to lunch when I feel like it, and I will continue to muck about with cars, but only if its truly my money, and not borrowed money, and will try and have just a little money set aside for a rainy day.
But In truth I could give the above up in a blink if I really had to. So long as I can put food on the table and pay for the roof over my head, and my family and I have our health, I will always be happy.
Its people that can’t even afford to this, through no fault or lack of effort of there own that I really sympathise with, and genuinely really feel for the thousands of people you constantly hear lost there job at the moment.
And going to the total extreme - even people that have just lost there job, should take comfort that they have there health, we do have a national health service, and we do have a government that will always try and house people and hand out enough to at least put food on the table. There are nations and people that don’t know where there next meal is coming from or whether they are going to get a bomb dropped on there head.
So in summary after a very long lead up I agree – Stop wining about the price of your car – Its just a car and a lump of metal.
Last edited by RobEvo5; 27 January 2009 at 11:13 AM.
27 January 2009, 11:13 AM
#13
Scooby Regular
iTrader: (9)
Join Date: Mar 2004
Location: .
Posts: 20,035
Likes: 0
Received 0 Likes
on
0 Posts
Then Labour come along and instead of steadying the ship throw petrol on the fire
In fact what you are seeng on the financial markets is essentially the death of Thacherism.
Last edited by f1_fan; 27 January 2009 at 11:15 AM.
27 January 2009, 11:18 AM
#14
Scooby Regular
Join Date: Dec 2006
Location: Mars
Posts: 11,470
Likes: 0
Received 0 Likes
on
0 Posts
I have completely written off the value of both our cars.
Don't care what Parkers or Glass's guides say, I consider them to be worth nothing at all. In fact if I had to list our assets, I'd leave them out.
Yes they are hardly prestige (although this seems to not matter anyway) but they "would" have been worth about £10-12k between them.
I'd be happy to get £6k for both if I needed to sell them.
Not worth worrying about - unless you have a big loan on a car!
Don't care what Parkers or Glass's guides say, I consider them to be worth nothing at all. In fact if I had to list our assets, I'd leave them out.
Yes they are hardly prestige (although this seems to not matter anyway) but they "would" have been worth about £10-12k between them.
I'd be happy to get £6k for both if I needed to sell them.
Not worth worrying about - unless you have a big loan on a car!
and will....
27 January 2009, 10:09 PM
#16
Without wishing to get to philosophical about it, It’s the society we live in that’s caused it IMO. We are generally a greedy nation and very materialistic, and don’t really have a grip on what really matters in life. Its all too easy to get big loans, mortgages, finance, and credit on new TV’s etc. This sort of spending and borrowing will catch up in the end, and whilst you could argue the banks and government have been a little irresponsible, WE are the driving forcing behind it.
Thankfully once I had kids, my outlook on life became very different, and whilst I still have a modest mortgage, I no longer owe anyone anything, and I’m currently living well within my means. As a result life is good, and I take great enjoyment from just spending time with my kids, and its amazing the fun you can have for FREE.
Don’t get me wrong I'm not saying be a total scrooge either, as that will likely bring the financial cogs to a grinding halt.. I’m not one for squirreling money away, so still very much enjoy life but unless I have the money in my hand I won’t spend it. I will be going to the Canary islands in a few months on holiday and I will get a takeaway or go out to lunch when I feel like it, and I will continue to muck about with cars, but only if its truly my money, and not borrowed money, and will try and have just a little money set aside for a rainy day.
But In truth I could give the above up in a blink if I really had to. So long as I can put food on the table and pay for the roof over my head, and my family and I have our health, I will always be happy.
Its people that can’t even afford to this, through no fault or lack of effort of there own that I really sympathise with, and genuinely really feel for the thousands of people you constantly hear lost there job at the moment.
And going to the total extreme - even people that have just lost there job, should take comfort that they have there health, we do have a national health service, and we do have a government that will always try and house people and hand out enough to at least put food on the table. There are nations and people that don’t know where there next meal is coming from or whether they are going to get a bomb dropped on there head.
So in summary after a very long lead up I agree – Stop wining about the price of your car – Its just a car and a lump of metal.
Thankfully once I had kids, my outlook on life became very different, and whilst I still have a modest mortgage, I no longer owe anyone anything, and I’m currently living well within my means. As a result life is good, and I take great enjoyment from just spending time with my kids, and its amazing the fun you can have for FREE.
Don’t get me wrong I'm not saying be a total scrooge either, as that will likely bring the financial cogs to a grinding halt.. I’m not one for squirreling money away, so still very much enjoy life but unless I have the money in my hand I won’t spend it. I will be going to the Canary islands in a few months on holiday and I will get a takeaway or go out to lunch when I feel like it, and I will continue to muck about with cars, but only if its truly my money, and not borrowed money, and will try and have just a little money set aside for a rainy day.
But In truth I could give the above up in a blink if I really had to. So long as I can put food on the table and pay for the roof over my head, and my family and I have our health, I will always be happy.
Its people that can’t even afford to this, through no fault or lack of effort of there own that I really sympathise with, and genuinely really feel for the thousands of people you constantly hear lost there job at the moment.
And going to the total extreme - even people that have just lost there job, should take comfort that they have there health, we do have a national health service, and we do have a government that will always try and house people and hand out enough to at least put food on the table. There are nations and people that don’t know where there next meal is coming from or whether they are going to get a bomb dropped on there head.
So in summary after a very long lead up I agree – Stop wining about the price of your car – Its just a car and a lump of metal.
28 January 2009, 08:08 AM
#17
Scooby Regular
Join Date: Dec 2000
Location: York
Posts: 1,029
Likes: 0
Received 0 Likes
on
0 Posts
Looking at car prices the behaviour is interesting. I need to get a small five door car for the nanny and quality low cost diesel cars have hardly gone down in price. Even Skoda and Seat seem to be holding their value. Certainly compared to higher spec, bigger engined performance cars that can be bought for silly money.
Even at the small end, my Suzuki Swift Sport has gone down by 40% over two years, whereas the equivalent 1.5 GL or the diesel has only gone down by 20%.
Also the number of cars on Autotrader is falling at around 5,000 cars a week. Eventually low stock will slow the fall in prices and demand will increase over supply. Same with houses....eventually!
Final thing I have noticed is that APRs on any finance deal at the moment are REALLY stupid. Hard to see less than 10%
Even at the small end, my Suzuki Swift Sport has gone down by 40% over two years, whereas the equivalent 1.5 GL or the diesel has only gone down by 20%.
Also the number of cars on Autotrader is falling at around 5,000 cars a week. Eventually low stock will slow the fall in prices and demand will increase over supply. Same with houses....eventually!
Final thing I have noticed is that APRs on any finance deal at the moment are REALLY stupid. Hard to see less than 10%
28 January 2009, 12:28 PM
#20
Scooby Regular
Join Date: Dec 2000
Location: York
Posts: 1,029
Likes: 0
Received 0 Likes
on
0 Posts
Small, quality diesels are just not depreciating the same way as premium small cars (i.e GTI, GT, Sport models), with VW leading the way.
Large premium is like an anvil off a cliff and Scoobies even more so!
28 January 2009, 12:31 PM
#21
Scooby Regular
iTrader: (22)
Join Date: May 2006
Location: Doncaster, S. Yorks.
Posts: 21,415
Received 0 Likes
on
0 Posts
Having spent a lot of time looking at Autotrader I am not sure I agree.
Small, quality diesels are just not depreciating the same way as premium small cars (i.e GTI, GT, Sport models), with VW leading the way.
Large premium is like an anvil off a cliff and Scoobies even more so!
Small, quality diesels are just not depreciating the same way as premium small cars (i.e GTI, GT, Sport models), with VW leading the way.
Large premium is like an anvil off a cliff and Scoobies even more so!
It's not exactly rare, although obviously not as common as a modern small euro 'deisel' box.
Kind of on the above, I would tend to agree more so with spooky over mattee, but only if the depreciation on cars is being spread over more than brandnew cars or nearly new cars.
Think that makes sense
28 January 2009, 12:49 PM
#22
Scooby Regular
Join Date: Dec 2006
Location: Mars
Posts: 11,470
Likes: 0
Received 0 Likes
on
0 Posts
There's a big difference between what cars are advertised at and what they are selling for - same as houses.
CoB -What is your car? I've forgotten!
Anyway, I maintain that I have written off our two cars as having any value.
CoB -What is your car? I've forgotten!
Anyway, I maintain that I have written off our two cars as having any value.
28 January 2009, 01:00 PM
#23
Scooby Regular
iTrader: (22)
Join Date: May 2006
Location: Doncaster, S. Yorks.
Posts: 21,415
Received 0 Likes
on
0 Posts
All imho.
28 January 2009, 07:36 PM
#27
Scooby Regular
Join Date: Dec 2000
Location: York
Posts: 1,029
Likes: 0
Received 0 Likes
on
0 Posts
Are you really saying that there is a whole segment of the market out there (2-4 year old small VW stable diesels) that are over-priced compared to their 'sport petrol' counterparts or larger cars?
I doubt it.
Just as an aside I have just sold my Scooby at 3.1 years of age and it has depreciated by 51%. Not bad in the current market, certainly not anvil off a cliff. Even in the good times Scoobies were retaining 60% of value after 3 years.
