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iooi |
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P. Red Rocket
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Posted: 17:56 - 20 Mar 2017 Post subject: |
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iooi, you spacker, read thread. |
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iooi |
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dodsi |
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dodsi Dirty Carny
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Posted: 19:25 - 20 Mar 2017 Post subject: |
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My micra example: numbers may have changed as yesterday they were on the home page of the web page.
https://www.targetcarleasing.co.uk/manufacturers/nissan/6425/models/micra-hatchback/66160/cars/1-2-acenta-5dr/61925
Iooi - I quoted 2k per year in depreciation alone not including other running costs.
Please read correctly.
My only argument has ever been total running costs over time on a like for like basis that a lease is not necessarily a waste of money. Old, new whatever.
Fuck it, if it was cheaper to lease my shoes than own them I would. |
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M.C |
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dodsi |
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dodsi Dirty Carny
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M.C |
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M.C Super Spammer
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Posted: 13:44 - 21 Mar 2017 Post subject: |
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But wasn't that example user maintained? It is also not over a 10 year period? Also my example's the most expensive thing you can do, buy a car new then take it to a main dealer its whole life. Finally a 1.2 Micra's 8 grand OTR, this was 15k.
BTW I hate doing maths, stop making me do maths |
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dodsi Dirty Carny
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bamt |
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bamt World Chat Champion
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Sun Wukong |
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Sun Wukong World Chat Champion
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Posted: 17:34 - 21 Mar 2017 Post subject: |
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There was an interesting Khan Academy video on renting/buying houses...
Funny, the whole "but you are putting money in to something".
Yes, paying back the rent on the money you borrowed (ie interest) to the bank.
Pay rent on the house, or pay rent on the money. You still pay rent.
Could be a similar thing with cars.
Would be interesting to actually crunch the numbers and see.
One extra thing about why renting a house is often better than buying is the opportunity cost. If I could go back in time and tell younger Richard one thing, it would be "don't forget about the opportunity cost" (or rather, go look up what it is, and then never forget it).
You buy a 400k house. You put in 100k cash, you borrow the rest.
So you are paying rent on 300k (interest), and most of your payment is just going in to paying the debt on that.
But, you also have 100k of your cash sat in the house.
Now, if you rent a house, you have no interest to pay, and you still have that 100K to use for investing. If you generate 4% / interest with that, that is 4k / year.
Suddenly that 12k / year rent doesn't look so stupid. When you remove the property tax, which is probably about 1% of house value, so 4k a year as well.
But I agree, it feels like a waste of money. ____________________ Top cat
"Hard times lead to hard people. Hard people lead to good times. Good times lead to weak people. Weak people lead to hard times." Smegballs
"Oh and STE balloons would be one of the nicer things we would receive at the office, the amount of dog turd in jiffy bags is not funny." Jsmith86 |
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M.C |
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M.C Super Spammer
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Posted: 18:30 - 21 Mar 2017 Post subject: |
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So ignoring the fact most people renting in that London are paying more than those with mortgages? You lot must do all your shopping in Brighthouse |
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Sun Wukong |
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Sun Wukong World Chat Champion
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dodsi |
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dodsi Dirty Carny
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stevo as b4 |
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stevo as b4 World Chat Champion
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Posted: 19:31 - 21 Mar 2017 Post subject: |
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Two final questions from me as this topic isn't really about me or my thing.
1, Put simply for someone like me to understand, what are the primary and most common reasons for people to want to always drive new cars and or say have a new one every 2years or so?
2, Regarding the buy own car and run for 10years thing. Firstly that average depreciation of 2k a year don't sit right with me as most of a vehicles depreciation happens in year 1, 3 and 5maybe. A 2year old isn't often worth massively less than a 1year old, and likewise the 3and 5yr milestones tend to wipe much more value off a vehicle than the usually negligible depreciation from years 5-10? So yeah an average 2k over 10years is one thing, but if the first few years result in say 5x the depreciation that years 6-10 experience, it's not that relevant to work it out as long-term cost.
And secondly, do people that buy a brand new vehicle and keep it for 10years, actually expect it to achieve some resale value worth having after that period? I know it's probably out of date thinking with cars now, but there used to be the old theory that if you buy and run a vehicle for 10years, its done it's thing, earned it's keep, and owes you nothing at all. If someone gives you a few quid for it after all that it's a bonus? I realise the above with today's cars could easily be rescaled to 15years or more in some cases, as cars today are built to last longer than they were in the 70's/80's, which is where the above mentality probably came from. |
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M.C |
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M.C Super Spammer
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Posted: 21:27 - 21 Mar 2017 Post subject: |
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Old Thread Alert!
The last post was made 7 years, 37 days ago. Instead of replying here, would creating a new thread be more useful? |
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