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30th June 2019, 18:51 | #21 | |
This is my second home
75 model car Join Date: Apr 2011
Location: Newcastle upon Tyne
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She is now back home and seeking employment in the field she has worked hard and studied to get in to for the last three years. Tuning to the article in question, I think the salesman failed to explain to her the overall cost of the car. My daughter wants a car, as she passed her test last year, but will wait until she starts a job, as it’s jot just paying for the car, it’s the insurance premium that will be the highest cost. Thankfully she has an idea of how much per month she wants to pay for a car, once she starts earning.
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Cheers. Rich… |
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30th June 2019, 19:37 | #22 |
I really should get out more.......
MGTF, MGZT, Range Rover Join Date: Sep 2013
Location: Cheltenham
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I’m afraid many people do not understand or do not care about what they sign up for. Both are dangerous.
My ex partner was horrified when I explained her finance agreement to her. Totally different to how it was presented to her at point of sale. She sold the car. Having worked in banks and finance companies I’ve seen how they work and it used to be far more cut throat than it is today. At least we have better regulation. In 1986 I could have borrowed against my grandmother’s dentures! A bit more difficult now. Having financed a few cars over the years I only pay cash now. £500 for my Streetwise. 2 years of good service and plenty more to come. That’s 2 monthly payments on a used car with a newer Reg plate. Why do it? It’s a depreciating asset for heavens sake. No sympathy I’m afraid. People see a shiny car and all sense leaves them.
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MG TF 135, MG ZT, Range Rover P38 |
30th June 2019, 20:03 | #23 | |
This is my second home
75 model car Join Date: Apr 2011
Location: Newcastle upon Tyne
Posts: 20,177
Thanks: 4,008
Thanked 5,083 Times in 3,114 Posts
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Cheers. Rich… |
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30th June 2019, 21:19 | #24 | |
I really should get out more.......
MG ZT-T 260 Join Date: Feb 2016
Location: Witney
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I rung them on a Saturday morning and the girl asked me how much I needed and how much I earned, I was sent some forms to sign in the post on the Monday and I returned them first class. My solicitor had the funds on the Friday . My accountant didn't even get a phone call. Saying that I have never missed a payment so I must have an honest voice . |
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1st July 2019, 12:24 | #25 |
This is my second home
Join Date: Jul 2014
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I don’t think we educate our children very well regarding money matters - I remember “Liberal Studies” at school which was usually some crazy spouting forth on their favourite subject.
I remember Global Cooling was all the rage and the preferred belief to be discussed by those predicting the future demise of the world. But we did have one section lasting a couple of weeks that covered all things Financial. Savings, Bank accounts and debt were all covered. Specific options such as pensions, endowments and mortgages were explained as well. As far as I am aware nothing like this is covered in our schools of late. A real conversation with a young lad went something like this:- Him “my bank has not paid my DDM!” Me “what is the balance in your account?” Him “overdrawn” (not just overdrawn but well overdrawn) Me “that’s the issue - there is no money in your account to pay the DDM” Him “how do you work that out Clive - the Bank told me it would pay the DDM! - what has my being overdrawn got to do with it?” And he is not alone. |
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