Electric Vehicles EVs

this is crazy. I wonder if it also goes some way to explaining why so many short trips are made by car?

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.

Isn’t there about 40bn or debt in the UK car market?

People very definitely don’t buy cars for the cabin space to footprint on the road ratio.

I do or I wouldn't have an MPV. Extremely ugly, great for trips to IKEA or taking the grandparents out for the day with the kids in the far back.

Quite, I’m also surrounded by people in relatively average houses with ridiculous EV cars outside. I assume that they’re killing themselves on PCP payments, locking themselves into an average/low income lifestyle.

Buying a ‘nice’ brand new car on finance is one of the worst financial decisions you can make, it ensures the poor and middle income people are kept down and not spend their money on things that will actually improve their lot in life, ie investments, house improvements and extra tuition for your kids. Fools and their money right?

On another thread theres another guy on lfgss saying openly that he only had £1k in savings, but was intending to buy a £30k brand new car because he could afford the monthly payments. People are completely insane.

Depends on the deal. The personal lease deals of a few years ago made a fool of running second hand cars. Now, not so much.

A battered mpv with 4 kids happily splashing chips all over the upholstery is the pinnacle of big dick energy.

I'm running a 2017 Leaf for most local trips and keeping Subaru Outback for family camping trips and occasional work trips down south. Switching the Outback for something vaguely modern would does not appeal due to cost but would love something more efficient.

Put the money into PV, insulation and battery for the house instead and run the Leaf of solar power 6 months of the year.

Link? 😏

Well, yes. Me too, because we’re rad mother fuckers. When I said people I meant most people.

It didn’t. It made having a nice new car from a posh brand a more sensible move than a nice nearly new car from a posh brand. A carefully bought 5-15 year old used car from a reliable manufacturer is cheaper to own, but boring and no one will want to have sex with you.

I had more sex with more people driving £300 cars than when driving new cars. I blame marriage and excessive work to pay for said new cars.

You don’t know that though. Get a £300 car and see if sexy times follow.

I’ve leased new cars for the last 8 years or so, though hunting for deals where the lease cost was close to the cost of depreciation. Also aiming for less stress and hassle free motoring (no MOT, maintenance contract, including servicing, tyres). Also modern improved safety and driving aids are pretty desirable when you have kids.

I’ve never bought a new bike though.

A inverted snob midlife crisis..

It’s too small for me, but the Renault Zoe seems to be well priced at the moment on lease.
£245 per month 1 month + 35.

One of the cheapest I’ve seen for an EV.
£31940 P11D, WLTP: 238mile range

Mainly because they’re about to stop production in favour of the new Renault 5.

It’s got a zero ncap safety score for the same reason. New regs came in and they couldn’t be bothered to update it so zero.

Not judging in the slightest, we should all spend our cash on things we like, that’s what it’s for.

I’m just old I guess. When I started buying cars in the late 90s finance wasn’t popular. If you had £2000 in the bank you bought a car that was £2000 or less, it didn’t feel like there was another option.

Also when you've made the mental leap of thinking about available money thinking about cashflow in borrowing massive amounts of money from the bank to buy a house, a monthly payment for a car doesn't seem such a stretch.

IMO the questions around how one finances a car is a deeply complex decision (especially with EVs) generally taken in about 5 minutes. The spreadsheets go out the window if you like the red one.

It did back then. Mortgages felt very different because you could never save enough for any sort of house, anything else you wanted you saved for. That was the socially acceptable way to do things for the majority. Some people paid monthly for things but very, very few.

People who want to sell us things have managed to slowly convince us over the last 30 years that it’s fine to pay monthly for a depreciating or worthless thing we can’t afford to buy outright because it’s shiny.

We’ve all fallen for it to some degree, whether it’s £10 a month for Tidal or £1100 for a Range Rover.

Some people paid monthly for things but very, very few.

That's not quite true is it,as a kid in the 90's knew plenty of kids at school who has a TV or hifi from radio rentals or bought clothes on credit from the Littlewoods catalogue, these were all so they could get things they couldn't afford outright on monthly payments

They all had shit, rusted out cars though as yeh credit wasn't around for those in the same way

Rumbelows4lyf.

The subscription model for EVs already exists. You could argue that car clubs fit in this model too.

What I think (?) is quite new is people with perfectly acceptable salaries borrowing insane amounts of money for 'luxury' items. Obviously people who have very little have always had to borrow to make ends meet. But people on Skoda incomes (like me) borrowing double their take-home annual pay to buy a silly Audi hasn't been happening for very long has it?