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By my rough calcs, equivalent car prices have doubled in the last 20 years - have salaries?
I’m looking for a new car and wondering who the fuck is buying all the performance models at £30k+ for a hot hatch! In my mind a decent used car is under £10k so paying £500+ a month is madness but perhaps once you start down that road it normalises itself?
Our household income is just about top 10% I think but that kind of monthly hit would mean scraping by in other areas.
Dramatic_Hammer-
I blame the yut. Young people who live at home are going to want nice things so when they see an advert for a merc amg on pcp they think they can afford it. But they’ll never own it. It’s renting a car. The only people who lose are the consumer
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Blatant golf club application with that last sentence.
Finance cost drives it for sure. My pal is taking delivery of a new Honda Civic on Thursday for just under £50k. Nuts.
However. A neighbour recently recalled to me buying a brand new 3 bed terrace house in Cambridge in the late 70s for £11k. At the time his BMW company car cost exactly the same.
Today the house is probably £450k and the car maybe £45k. So maybe cars are overdue a price rise.
Light_EDDed
Hefty
Yes, I think that’s it exactly.
No doubt significantly down to silly low interest rates.
My dad bought a brand new bottom-of-the-range Maestro Clubman in 1990. I nagged him unsuccessfully to at least get the LX with central locking and electric front windows. They’d been saving for years for it. I think it was £6k. These days the move would be to put that £6k down and get something for £30k or more.