How long do you keep a car ?

"Who wants to own something that depriciates by the day????"
As opposed to paying finance on something that depreciates by the hour!

I think you're missing the point, the biggest depreciation on a car is the moment you buy it, then another chunk in the first year or 2. If you've bought it on the normal 3 year finance deal, you've already swallowed the biggest chunk of depreciation. After 3 years it levels out a lot. I've owned my 2.8Q for 8 years and it's effectively stopped depreciating as it's probably only worth £2.5k.
Don't get me wrong, keep swapping and changing everyone, you're creating more bargains for me to choose from next time round.
 
Mate works for a main vauxhall dealler , and see's 99% come in wanting to re-finace car after car , some peole are paying almost twice the value of the new car due to "keeping up with the jones"
Its actualy got to the point hes doesnt even say anything when he sees they are going to pay far to much for a car(finance) cause when he told them, they just ignored him and only wanted to know when they can get there new car!:banghead:
 
It's because people want the newest, shiniest gadget around. They buy an iPod, then replace it a year later because there's a new model out and they can't bear the idea of not having the bestest newest thing. Remove the word "iPod" from that sentence and replace it with the word "car". At the end of it all, I can see some people re-financing car after car on three year deals, and after 25 years, they'll have spent as much as I have spent on my mortgage. Difference is, I'll own a house, they won't own a car.
 
I think very few people ever make money on cars.
I certainly don't.

But if my house can make more money than my car loses...and my car can make me happy...what the hell.
Of course, buying the right car in the first place, and keeping it a good few years minimises the losses, if that's a big concern.

For me, it's not...
Being away from home 6 months of the year is my justification for having a car like I do...if I was onshore I couldn't afford it, or justify it...so it's a no brainer.
Buy the perfect car...keep it a long time.
Let the house make money...

What value do you put on enjoyment anyway?
 
I usually keep mine for about 2 years but I do a fair few miles so it soon adds up...
 
jdp1962 said:
It's because people want the newest, shiniest gadget around. They buy an iPod, then replace it a year later because there's a new model out and they can't bear the idea of not having the bestest newest thing. Remove the word "iPod" from that sentence and replace it with the word "car". At the end of it all, I can see some people re-financing car after car on three year deals, and after 25 years, they'll have spent as much as I have spent on my mortgage. Difference is, I'll own a house, they won't own a car.
Click to expand...
Totally agree. Great if you can afford it but people who can really afford it tend to buy their cars for cash and aren't doubling the depreciation issue by using finance. When you hear people bleating about being in debt, or blaming finance companies for making it too easy to get credit then it wears a bit thin when you see how they've spent the money they haven't got. 25 year olds with a £30k credit card bill and nothing to show for it? Take some responsibility people.
Best thing I ever did was get a Virgin One account (back when it still was Virgin). Getting a monthly statement on my mortgage really focusses the mind on how much finance really costs and where you can cut corners to minimise unnecessary expense.
What price do you put on enjoyment? Well I couldn't enjoy any car knowing I was paying £600 a month on a £20k car that would be worth £8k after 3 years. Sad? Definately, just getting far too sensible in my old age but I will own 2 houses outright in 5 years time. Possibly then I'll be able to spoil myself with a flash motor.
 
AndyMac said:
"Who wants to own something that depriciates by the day????"
As opposed to paying finance on something that depreciates by the hour!

I think you're missing the point, the biggest depreciation on a car is the moment you buy it, then another chunk in the first year or 2. If you've bought it on the normal 3 year finance deal, you've already swallowed the biggest chunk of depreciation. After 3 years it levels out a lot. I've owned my 2.8Q for 8 years and it's effectively stopped depreciating as it's probably only worth £2.5k.
Don't get me wrong, keep swapping and changing everyone, you're creating more bargains for me to choose from next time round.
Click to expand...

I'm a caravan dealer mate, and i sell finance.
 
"I'm a caravan dealer mate, and i sell finance."

And ugly shyte that clogs up our roads, well done, double whammy. You must be very proud, .
Add estate agent, traffic warden and sunday league ref and you'll have the whole set.
 
Totally agree with your comments Andy i have never bought a car on credit and never will!!......I think it is insane ....pay stupid APR......When you buy the car off the forecourt the minute have driven off it you have just lost 4K.........Same as insurance i pay it off in the one go or you can pay instalments and get charged 25% Apr for the pleasure.......
 
AndyMac said:
"I'm a caravan dealer mate, and i sell finance."

And ugly shyte that clogs up our roads, well done, double whammy. You must be very proud, .
Add estate agent, traffic warden and sunday league ref and you'll have the whole set.
Click to expand...

Doesn't bother me, i work sundays when all the sad ***** that buy em are out raising your blood pressure by doing about 40 mph on the motor way.

You wanna lighten up pal, mind you, if you had a life you probably wouldn't be sitting at home on your PC on a Sunday morning would you??? That'd make me quite angry as well i spose....
 
Rev-head said:
Totally agree with your comments Andy i have never bought a car on credit and never will!!......I think it is insane ....pay stupid APR......When you buy the car off the forecourt the minute have driven off it you have just lost 4K.........Same as insurance i pay it off in the one go or you can pay instalments and get charged 25% Apr for the pleasure.......
Click to expand...

Pays my mortgage. :arco:
 
Ouch! Think I touched a nerve there.
You better get back to work mate, there must be huge rush to buy caravans just before Xmas.
 
AndyMac said:
Ouch! Think I touched a nerve there.
You better get back to work mate, there must be huge rush to buy caravans just before Xmas.
Click to expand...

Rushed off me feet.

Not........:tumble:
 
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