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Tunster · Mar 19th, 2008, 01:25 PM

Quote: Originally Posted by 1 AJC (original)

True, and I accept your point that one of the benefits of this option is that you can be on the road in an expensive car for relatively low outgoings each month. But surely (and please dont take this the wrong way) someone driving a £20k car on a low salary is living beyond their means?

The other attraction is obviously the ability to trade in for a new model every three years and having the security (or you would hope!) of a well maintained car. However, again looking at this in the long run, with a small deposit you are looking at nearly 13k to keep the car for three years in its first term (i.e. before it is traded) with nothing to show for it at the end!

I'm not exactly stretching my finances to get it. For me at 21 (no mortgage, no bills to pay etc), I'd regret not getting a new and car I've wanted. However, I am planning my future and hopefully in 3 years time, I will have saved money on a house deposit etc and will most probably part exchange the car for another MINI at the end of the deal.

I'm going to enjoy it while I can so I don't have to regret not getting a sporty car earlier.

Mar 19th, 2008, 01:25 PM	#8
Tunster MCS AB Owner! =D Join Date: Jan 2008 Location: Essex, England Local Time: 07:12 AM Posts: 295 Offline	Quote: Originally Posted by 1 AJC (original) True, and I accept your point that one of the benefits of this option is that you can be on the road in an expensive car for relatively low outgoings each month. But surely (and please dont take this the wrong way) someone driving a £20k car on a low salary is living beyond their means? The other attraction is obviously the ability to trade in for a new model every three years and having the security (or you would hope!) of a well maintained car. However, again looking at this in the long run, with a small deposit you are looking at nearly 13k to keep the car for three years in its first term (i.e. before it is traded) with nothing to show for it at the end! I'm not exactly stretching my finances to get it. For me at 21 (no mortgage, no bills to pay etc), I'd regret not getting a new and car I've wanted. However, I am planning my future and hopefully in 3 years time, I will have saved money on a house deposit etc and will most probably part exchange the car for another MINI at the end of the deal. I'm going to enjoy it while I can so I don't have to regret not getting a sporty car earlier.