http://forums.overclockers.co.uk/showthread.php?t=18019506
In short - guy pays £7-8k for a 2005 1.2 Clio :X
In short - guy pays £7-8k for a 2005 1.2 Clio :X
Car Finance Fail...
post #26 in there made me lol..
in the words of James May "why did you think this would be a good idea you big daft cock"
Pro-tip - You could buy a new Clio for less than he's paying overall...
He's not paying twice the market value. He might be paying the CURRENT market value, but that is meaningless as he's not trying to sell it.
You have to compare the COST of the car (ideally taking inflation into account, but let's ignore that and just call it £8k) to the VALUE of the car when he comes to sell it in 4 years time - lets say about £1k, tops (but it'll probably be closer to £600).
So, in fact, he's paying 8 times the value of the car. Which is even dafter (if that's possible).
I made a mistake on finance when I was 19 too. I bought a 306, and ended up paying quite a bit more for it that I should have. I can't remember the exact figures, but I think it was on the forecourt at £7k, I paid £9k in total after three years, and sold it for £4k. I learnt never to use car finance again. Essentially I was £2k out of pocket after three years (on the basis that with finance or without it would have depreciated the same amount), which is nowhere near as bad as James07!
You have to compare the COST of the car (ideally taking inflation into account, but let's ignore that and just call it £8k) to the VALUE of the car when he comes to sell it in 4 years time - lets say about £1k, tops (but it'll probably be closer to £600).
So, in fact, he's paying 8 times the value of the car. Which is even dafter (if that's possible).
I made a mistake on finance when I was 19 too. I bought a 306, and ended up paying quite a bit more for it that I should have. I can't remember the exact figures, but I think it was on the forecourt at £7k, I paid £9k in total after three years, and sold it for £4k. I learnt never to use car finance again. Essentially I was £2k out of pocket after three years (on the basis that with finance or without it would have depreciated the same amount), which is nowhere near as bad as James07!
Hehe, i was reading this on pistonheads a few days ago. Quite silly of the chap to do that.
Finance can be good to some people. There are case's where you only pay an extra £1k or so, but then your stuck paying that off for years and so your also stuck with the car for many years. If i want to buy a car and cant afford the one i was looking at, i either have to go for a cheaper car, or i just save up some more money until i can buy the one i want. I would never put myself in debt over a car. Its not worth it.
Finance can be good to some people. There are case's where you only pay an extra £1k or so, but then your stuck paying that off for years and so your also stuck with the car for many years. If i want to buy a car and cant afford the one i was looking at, i either have to go for a cheaper car, or i just save up some more money until i can buy the one i want. I would never put myself in debt over a car. Its not worth it.
Why didn't he just get a bank loan? Interest is so much lower - his apr will be what, 29% or more?
According to the thread his Dad screwed up his credit rating by registering cards in his name (which he could have removed but meh) and so this was the only option he had open to him...
Read about this on the SV owners site.. total price he's paying is closer to £10k for a bottom spec clio. GG.
This takes over as being the new single biggest piece of fail I have ever seen in my life.
You can get a variety of 2005 - 2006 cars that are sh*tting themselves with extras for that money
Another fail is that he doesn't realise he is paying about 3 - 4 times what it's worth... not 'almost double'. facepalm.
You can get a variety of 2005 - 2006 cars that are sh*tting themselves with extras for that money
Another fail is that he doesn't realise he is paying about 3 - 4 times what it's worth... not 'almost double'. facepalm.
Yeah, like engines that are fit for more than a lawnmower.
wut?
Yes, they won't be the fastest of cars for that money, but will still be of reasonable (quiterly reasonable) enough performace. At least better than that 1.2l clio pile of fail
Yes, they won't be the fastest of cars for that money, but will still be of reasonable (quiterly reasonable) enough performace. At least better than that 1.2l clio pile of fail
I love the way he's like "i know what im doing, and paying 3 times it's value over 4 years is'nt bad" :doh:
He said he does'nt mind having that car for 4 years, but i bet he will get bored of it once the new car excitement wears off.
He said he does'nt mind having that car for 4 years, but i bet he will get bored of it once the new car excitement wears off.
He loves his (expensive) Clio. Who are we to jeer at this poor fellow?
Well I think that the fact that he is a bigger mug than any of the mugs in my kitchen cupboard is sufficient reason to laugh at him.
Were not "jeer"ing the car, were "jeer"ing the guy for buying from carcraft and spending that crazy ammount of money on such a car.
He said he needed a car asap, yet for £500, he could of bought a good enough car tomorow yet he claims he finds buying a car "too hard".
btw, what the hell does jeering mean?
He said he needed a car asap, yet for £500, he could of bought a good enough car tomorow yet he claims he finds buying a car "too hard".
btw, what the hell does jeering mean?
he just doesn't want to admit that he is a complete idiot
I like how this guy says You only live once, id rather get what i want then suffer, im just gonna be paying out for it for 5 years which is only the downfall but atleast ive got a car! He like's so proud of owning half of a car that he paid 8000£. I will never understand people over the pound thinking that their Peugeots and Renaults are cool...
well he achieved one thing... i feel great about spending less on something more desireable now
My dad has just bought a silver 2003 Jaguar S type with 30,000 miles on the clock for £6000, that guy is a complete tool to pay £9000 for such a crap car.
jesus for 9k, he coulda bought a newer top of the range with the alloys, and all the accessory he needs ( like a hammer to knock some sense into himself. )
Lol wtf is that? :doh:
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Car Finance Fail...
(27 posts, started )
FGED GREDG RDFGDR GSFDG