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People are mad, remember. Average spend on a car on finance is 19% of take home income. So it’s perfectly normal to spend £1000 a month on a car if you’re earning £80k. Mad, but normal.
Hefty-
But…. but… 80k…. Normal? Mad.
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This is insane to me. But perhaps explains the cars of neighbours round our way a bit more.
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this is crazy. I wonder if it also goes some way to explaining why so many short trips are made by car?
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It’ll be something that explodes when interest rates blow up on more and more peoples mortgages in the next few years.
Defaults on PCP / lease will become commonplace. If that takes the bottom out of the used car market, it’ll make new cars even less affordable as GFVs will take a dive too.
Our car payment is only 6.8% of monthly net income which still seems a little high.
Ludd
villa-ru
bigshape
Soul
Surely no one is actually buying these cars with their own money. To me they only make sense as company cars on BIK.