Michael | UK Stock Trader
Region: GB
Wednesday 25 September 2024 12:20:17 GMT
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tattypicker :
I've always bought an old car £500 owes me nothing had for 5 yrs. I'd rather invest than drive a new/flash car
2024-09-27 21:42:48
1
Dan :
As a nation, we are obsessed with our outward image. I regret the amount of money I spunked on car finance as I’ve got fuck all to show for it.
2024-09-26 11:21:16
102
Pluser123 :
Safe luxurious space for my family, that my partner also gets enjoyment out of driving > future wealth. Not everything can be calculated in financial terms. Safety and pleasure especially.
2024-09-25 13:17:43
39
Curious Aye-aye 🇬🇧🇪🇺 :
Bought a 2 year old Golf in 2018, £14k, one elderly private owner, fsh, 19k miles. Now 112k miles, properly maintained, faultless, drives as it did 6 years ago. Now worth about £5k? Not selling! 🙂
2024-09-25 12:39:54
18
Cryptojack :
I bought a £238k car is that stopping me from achieving wealth?
2024-09-26 03:15:33
12
Maddy Alexander-Grout :
Totally agree! Get a loan! At least you keep the car after and often the payments are lower! And you get better interest rates!x
2024-09-25 19:50:06
10
Ciarán :
Yes and no. At the end of the day a car is a liability, arguably speaking you probably don’t want to own liabilities so opting for finance services like PCP can be a decent enough choice
2024-09-25 21:12:36
8
Passport & Boarding Pass🇺🇬 :
I drive a VW scirocco 2010, my monthly cost is less than £80 on fuel, tax & insurance (I also cycle). My disposable income is invested in S&P 500 which is up 63%. 😅
2024-09-25 22:46:56
6
996_turbo_s :
swapped a 40k Mercedes for an old volvo, realised that literally nobody cares about what car you have and the money is better put towards building wealth
2024-09-25 14:57:02
4
conorw :
thoughts please: 62800 salary, take home 3780 p/m. Needs 1060 p/m. Savings 2000 p/m. Discretionary 650 p/m. Have a 14 y/o car. thinking of buying a 2022
2024-09-27 11:20:20
3
l.s18888 :
I make £42,500pa & have a monthly car payment of £185 for a ~£10k Audi A6 Avant - Honestly doesn’t touch the sides 💵 - Everything in moderation & make sure you do your budgeting right 👍🏼
2024-09-25 19:48:51
3
Gaz Sussex :
We've all bought into the marketing of the car industry, thinking we need a brand new car every three years to maintain the image of success. I just don't get it. consumerism!
2024-09-25 14:53:29
2
Stephen :
I had a financed car for 8 years maybe. now I have a £2000 Mazda MX5 which is great fun. put £25000 in my pension every year now.
2024-09-25 12:30:23
2
Al Smith5102 :
very happy with my Peugeot 208 on a 2014 plate and owning three flats rented out
2024-09-26 00:01:19
2
Amanda | Money & Investing :
Have an EV through my business and a 15yo Mitsubishi truck which I bought for £5K a few years back. Would always avoid financing a car personally
2024-09-25 12:44:59
2
Matty :
Reckon you’ll ever get to the end of that street
2024-09-29 11:04:51
2
businessdad22 :
Keeps 2nd hand cars cheap though. 👍🏼
2024-09-25 18:37:45
2
PineappleJunki :
Hi mate could you reply to my dm, I'm not after any financial advise or anything like that, I just want to know if I'm on the right track with trading, I've been doing it 2 years now, just want advice
2024-09-25 19:27:30
2
Tony Dee349 :
Car finance is extortionate ,good advice to buy a decent used car as you say.even try getting a cheaper loan if necessary.
2024-09-25 12:35:33
2
Bald & Sexy :
Bought an Honda civic Fn2 type r last year & let me tell you it was the best financial move I’ve made in a while. Super reliable & super fun, allowing me to stack & save like never before
2024-09-26 15:14:58
1
Sam Strickland :
Financed cars is one of the number one ways that people live beyond their means
2024-09-26 07:30:35
1
jorgezafis :
i’m financing a car that works out cheaper than public transport to my work including insurance and fuel . also there’s no busses to where i work during the night . i see it as a tool to make money
2024-09-29 08:03:12
1
Shaggy | Weight loss coach. :
have seen people finance a 2nd hand car with 49% APR....cost of the car doubled over 5 years while it depreciates to nothing 😂😂
2024-09-26 05:22:03
1
James Walters182 :
For some people their car is their hobby so there’s added value there. Obviously you should live within your means but on the flip side there’s no point in having money for monies sake 👍
2024-10-12 17:07:59
1
Giraffe18 :
My car finance finishes in a year. I do 13k miles a year. Do I trade it in & continue with finance, or pay off the balloon payment & keep my car? It's a 67 plate Fabia, £230 a month!
2024-09-29 13:09:48
1
Jack :
I agree with this in terms of building wealth, I don’t think many people would disagree. If you’re spending £400 a month on something you will never own clearly that’s not advantageous in terms of wealth. There are no doubt plenty of people who want to look impressive to others, with the car on the driveway, as you say, but there are also a lot of people who enjoy having a new car and all the mod cons that brings with it. Some people want to enjoy their money not save it and that’s fine too.
2024-10-04 13:51:43
1
the_art_of_travel :
Absolutely agree, it’s a no brainer as long as you don’t care about keeping up with the Jones’s. 😁
2024-09-25 17:06:12
1
RetroSteph :
£400/m to pay the depreciation only an expensive item only to hand it back so the person who sold it you can then sell it again for the same amount
2024-09-25 16:39:30
1
pockets17 :
Cars are a depreciating asset. Makes more sense paying 200-300 on PCP than buying outright for thousands and selling for little to nothing further down the line.
2024-10-05 17:50:18
1
Humphreys Auto Network :
My Astra was £750 2 years ago. Hasn’t let me down since. My other half has an X5 paid £5k will do us for the next 10 years. Took my a while, but life is better
2024-09-25 16:21:26
1
jord6641 :
Bought a 10 year old second had car. Wear and tear items and depreciation cost not a lot less than a lease. I just spend my days in a POS instead of something new
2024-09-25 16:19:18
1
Dalts :
I bought a 2 year old Škoda with 20000 miles, worked out about 12 grand cheaper and it’s basically new. Got 2 MOTs and services included
2024-09-25 15:17:40
1
Ross :
Approved used car (2018) purchased via 2.9% personal loan. Opening equity £3000, current equity £9500.
2024-09-25 14:47:13
1
andrewwest773 :
there are some great leasing deals available if you're flexible. I'm only paying £221 a month for C4 x electric. saving a large amount on petrol and don't have to worry about car tax or repairs.
2024-09-25 14:21:56
1
Toby :
Bro, where are u walking to? U walked so much finally reached a city 😂😂
2024-09-25 14:12:51
1
Steveoutwest :
Have been leasing ev for the last 6 years. They are cheap (relative to the list price) and if you have a drive super cheap to charge on the right ev tarrif
2024-09-25 13:38:53
1
Elaine Mackie :
We have a nice car and can make investments and save. It’s not an either or…..
2024-10-08 10:33:02
0
Simon :
What other object would a person buy that depreciates 50% in 3 years and pays thousands in finance interest !
2024-10-06 15:24:48
0
Chris :
I think the biggest killer on owning a car is having to go through a service/mot/new tyres which can easily be an huge wedge each month
2024-10-06 14:45:54
0
Pauly G :
What if you’re putting the lease through your limited company?
2024-10-08 11:25:30
0
Gibbo :
I think you got the opportunity cost thing the wrong way round. The opportunity cost is spending £10k on a used car versus paying £400 a month (your figure not mine) & I vesting the lump sum
2024-10-05 06:56:53
0
fizz :
my 2007 Audi TT refusing to die or get bored of 👍
2024-10-15 18:04:38
0
Chris Mc :
But then that 10 year old car will eventually cost more money in repairs, services and mot’s than a monthly payment on a newer car? So you run the old car into the ground, sell it because it keeps ..
2024-10-08 21:09:58
0
Peter Rossi :
I would have been exactly with you on this if it wasn’t for my 6 year old Golf engine blowing up (taking value from £7k to £250) and subsequently my 6 year old Touareg Mk2 engine blowing up….
2024-10-13 17:23:24
0
JBL51 :
An average PCP car, pre rates increase, had a real cost of between 20 and 25% over its list price. Absolutely mental.
2024-10-13 23:01:58
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Mk Dz :
The 'image' thing: I'm actually impressed by people who keep things a long time and look after them. I'm unimpressed by people who are consuming a new car every 3y...I'm suspicious of their values.
2024-10-14 20:24:45
0
marek_sw :
If you had £100k to invest right now, what would you invest in?
2024-10-15 15:49:36
0
Georgesamson :
As.
2024-09-26 08:31:28
0
Hagen Automation :
Buy a high end merc (S CLS E class) which is 2-5 years old and run it into the ground. It will last >10 years and will still be nicer than 95% of cars on the road at the end.
2024-10-26 16:21:44
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