Brexit ! British car industry non existence ,make it on our own !

[Evans Electric]

Well in the last ten minutes of my walk with the growler heading home ,  I counted  22  Beamers & Audi,s   just worked out rough value of half a million  pounds into the German coffers .

No wonder they didn't want us to leave ,  but surely those sales will continue unabated  ........we certainly won't be buying British  like they urged us to in the '60s  . :C    

Remember all those Mini,s with Union Flags painted on the roof ? 

Or the Vauxhall Viva Rust Bucket  ,  or the   BMC ranges  with the rotting A posts 

 

[Blue Duck]

Well in the last ten minutes of my walk with the growler heading home ,  I counted  22  Beamers & Audi,s   just worked out rough value of half a million  pounds into the German coffers .

No wonder they didn't want us to leave ,  but surely those sales will continue unabated  ........we certainly won't be buying British  like they urged us to in the '60s  . :C    

90% of them will be 0n a lease.

 

[Evans Electric]

Really  ??    That sounds expensive .   These houses I passed are middle income Asians .   Someone,s paid the selling price though  ?  

 

[revjames]

most new cars on the road now will be on lease. No ownership. I was going to get myself a Volvo V40 but worked out after 4 years and 8000 miles pa I would have paid £10000 and have nothing to show for it. A mugs game if you ask me.... 

 

[Evans Electric]

Thats a good point .      I never thought of buying a "new" car  TBH  .      Lets face it , anything you buy , drive it out of the showroom ...it's lost £1000 by the time you get home . 

 

[Sharpend]

Thats a good point .      I never thought of buying a "new" car  TBH  .      Lets face it , anything you buy , drive it out of the showroom ...it's lost £1000 by the time you get home . 

But the secret is too look after it and you’ll get that and more back when you come to sell it!! 

 

[Murdoch]

Thats a good point .      I never thought of buying a "new" car  TBH  .      Lets face it , anything you buy , drive it out of the showroom ...it's lost £1000 by the time you get home . 

Lost £1000 ? 

Lost at least 20% imho

2nd hand every time, look after it, and keep it a long time ..... always works for us

 

[SPECIAL LOCATION]

Buying cars doesn't always meet a one-size-fits all package when you come to compare Purchase -Vs- Lease...

What's good for one person may not be as financial sound for another bloke..

Probably If you are mostly average to low mileage and/or looking to replace relatively quickly, as you like posing in-front of the neighbours....

Then lease could be better for you...   (But there can be some stinger penalties if you exceed mileages or get to many scuffs, dents or scratches on the body work!). 

If you are possibly above average to higher mileage and/or looking for long term usage...

And/or not looking for a top-end high price spec, "want to impress the neighbours car"..

Then some bog-standard car-loan packages, for good run-of the mill, mid-range, "does what it says on the tin, sort of cars".. can be more economical.

We just changed our car last June...

Technically it was 2nd hand...  Pre registered approx. 20months before we bought it.. (66 plate)

Found it on an Internet search up in Manchester.. quoted as 10 miles on the clock..

By the time it was driven down for me to collect it had 134 miles on the clock...

the first service in the book was 3 days before I collected it...  

cost just under £7,000 off the list price as new..  So basically it is a brand new unused motor that is now three years old. 

(took it for its first MOT last week in fact, due end of Sept)

But we haven't taken the hammering of loosing that £7,000 had we splashed out on a newer reg plate!!

With two of my kids living in Portsmouth and Sheffield and me in the Midlands..

mileage can soon tot-up if we decide to go a visiting..

plus we tow a caravan.. and/or  have kayaks on roof bars.. and/or Push-bikes on the bike rack...

For me it would be way too stressful  trying to keep a leased car "within agreed spec" so we don't get penalised!

Our previous car {a people carrier, MPV, as I have 5 children} was bought brand-new, But able to negotiate good discount with no trade-in..  (13.5% off the list price)

Kept from 2003 till 2018.. owed us nothing was a dam good motor and we were its only owners from new to scrap-man...  {just under 170,000 on the clock}

As Murdoch says looked after and kept long, real purchased cars can be a better option than some leasing packages...

You just need to look around for the best purchase deals..

As they are out there to be had!

opcorn

 

[rapparee]

Buying cars doesn't always meet a one-size-fits all package when you come to compare Purchase -Vs- Lease...

What's good for one person may not be as financial sound for another bloke..

Probably If you are mostly average to low mileage and/or looking to replace relatively quickly, as you like posing in-front of the neighbours....

Then lease could be better for you...   (But there can be some stinger penalties if you exceed mileages or get to many scuffs, dents or scratches on the body work!). 

If you are possibly above average to higher mileage and/or looking for long term usage...

And/or not looking for a top-end high price spec, "want to impress the neighbours car"..

Then some bog-standard car-loan packages, for good run-of the mill, mid-range, "does what it says on the tin, sort of cars".. can be more economical.

We just changed our car last June...

Technically it was 2nd hand...  Pre registered approx. 20months before we bought it.. (66 plate)

Found it on an Internet search up in Manchester.. quoted as 10 miles on the clock..

By the time it was driven down for me to collect it had 134 miles on the clock...

the first service in the book was 3 days before I collected it...  

cost just under £7,000 off the list price as new..  So basically it is a brand new unused motor that is now three years old. 

(took it for its first MOT last week in fact, due end of Sept)

But we haven't taken the hammering of loosing that £7,000 had we splashed out on a newer reg plate!!

With two of my kids living in Portsmouth and Sheffield and me in the Midlands..

mileage can soon tot-up if we decide to go a visiting..

plus we tow a caravan.. and/or  have kayaks on roof bars.. and/or Push-bikes on the bike rack...

For me it would be way too stressful  trying to keep a leased car "within agreed spec" so we don't get penalised!

Our previous car {a people carrier, MPV, as I have 5 children} was bought brand-new, But able to negotiate good discount with no trade-in..  (13.5% off the list price)

Kept from 2003 till 2018.. owed us nothing was a dam good motor and we were its only owners from new to scrap-man...  {just under 170,000 on the clock}

As Murdoch says looked after and kept long, real purchased cars can be a better option than some leasing packages...

You just need to look around for the best purchase deals..

As they are out there to be had!

opcorn

I did the same thing, I bought a new car in 2011 with 35 miles on the clock, it was preregistered in 2007. It was even MOT'd before I got it. The joys of the global recession. 

 

[Murdoch]

I know a spark who leases his van and also a GSR who does the same ......... they both say the same thing ....... they know their outgoings for 3 years.

Each to their own I guess.

 

[ProDave]

most new cars on the road now will be on lease. No ownership. I was going to get myself a Volvo V40 but worked out after 4 years and 8000 miles pa I would have paid £10000 and have nothing to show for it. A mugs game if you ask me.... 

We buy second hand.  Your £10K in your example would get you a huge choice of 3 or 4 year old cars, that you could then keep for another 10 years if you wanted to.

My last Subaru, bought for £3K as a 4 year old lasted me 9 years and was still sold in running order with an MOT.  I paid £3K again for it's replacement 2 years ago and am hoping it will do me a similar time to the last one.  Some people call this "bangernomics"

 

[binky]

we have bought an odd new vehicle, vans mostly, but generally I find a 3/4 year od car is about half the price of new, and given modern vehicles don't turn into a pile of rust wihin 5 years and engines are good for at least 200k I really don't see the point of buying brand new. Impressing the neighbours is a very low priority for me! 

Only reason we have bought new vans is purely becuase vans are silly prices second hand. With Vivaros being knocked out on special offers at around £12-13k then it made little sense to buy a second hand van for around £10k with 60-70k on the clock. At that mieage you are looking at new brakes, exhaust, clutch, cam belts etc etc. The new vans, apart from servicing and tyres give at least 5 years of no hassle motoring.

 

[Evans Electric]

Some people call this "bangernomics"

I like it . 

Unless its years ago & you bought  a Morris Marina van  ...that would be "Craponomics"  

 

[ProDave]

I like it . 

Unless its years ago & you bought  a Morris Marina van  ...that would be "Craponomics"  

I remember when I was a boy, my dad buying a new Anglia van.  It was a pile of scrap rust in about 12 years.

 

[revjames]

We buy second hand.  Your £10K in your example would get you a huge choice of 3 or 4 year old cars, that you could then keep for another 10 years if you wanted to.

My last Subaru, bought for £3K as a 4 year old lasted me 9 years and was still sold in running order with an MOT.  I paid £3K again for it's replacement 2 years ago and am hoping it will do me a similar time to the last one.  Some people call this "bangernomics"

Having thought about it, I bought a 5 year old 5 series touring 3.0D with 100k on the clock and a full BMW history for just over 10k. I figured it will probably still be worth 6k in 4 years. New price 51k

 

[apprentice87]

I am no expert at this sort of thing, but, as the rules were last time i was self employed, lease payments were a business expense and were deducted from your turnover to arrive at taxable profit, but buying a vehicle was not, it was capital expenditure and you could only get capital allowances.. This is why all business vehicles were leased

john..

 

[Evans Electric]

I think you are right .      If you purchase a van say ,  the cost is deductible  but spread across a few years  becoming hardly noticeable .   

Van expenses are 100% deductible,  so all fuel / MOT/ repairs/  insurance . road tax etc  but a car or estate  is more complicated  tax wise . 

But I remember something about   ,  if I,  for example , leave Birmingham  to a job in Solihull  ( an adjacent   borough )  my meal becomes deductible . 

 

[binky]

a friend of mine worked out leasing his van was cheaper over 5 years than buying with a loan - but it was on a special offer.

There are 2 ways fo claiming for a van you have bought. Either just running costs or by mileage (as well as the capitol tax relief. though that has been changed to all in the first year).

Now, the issue is what happens when the lease is up. if you like shiny new vans, then you end up spending money 'ad infinitum'  and may incurr charges for damage etc etc. Where as if you own the van, that all stops of course once the loan is paid and you have a vehicle worth £x , and you still claim all the running costs. Most importantly for me, is that I'm not shelling out every month on the lease, so that reduces business running costs - very useful when work goes quiet as it does once in a while. Vans are far more reliable than they used to be,  so the van you have bought and looked after should last at 10-15 years, plus you know it's full history.  I reckon , over the long term it's cheaper to buy. If leasing was so good, why do all the garages push it - they have to be making money somewhere.

 

[Murdoch]

I bought mine ex demo, no loan at the end of the tax year.

Didn't pay any tax that year due to the van, and have the luxury of a small loan to myself for 8 years - when the asset will be all mine, or before if I pay it off early

 

[apprentice87]

I bought mine ex demo, no loan at the end of the tax year.

Didn't pay any tax that year due to the van, and have the luxury of a small loan to myself for 8 years - when the asset will be all mine, or before if I pay it off early

Murdoch the secret accountant!! i know it sounds silly, but can you give yourself a loan and charge yourself extortionate interest, or is loan interest not deductable??

john..