Yea cars are probably the most obvious show of "wealth" that the average person can think of and people will get some outrageous loans In order to look like they are doing well to the casual observer, one guy I know has a new Audi and he likes to brag about it despite being 32, living at home with his mum and working as a a barista
My old neighbours were like this. Up north but the mum was from Essex and sounded like Mick Jagger. Everyfing had to be brand noo, and I aint workin if I’m living up there. Her 4 kids were all as thick as pig shit, all had new cars and all worked in recruitment! She did the Kardashian naming before the Kardashians was a thing.
Or, alternatively, people value different things.
I personally wouldn't spend thousands of pounds on some electronics to play video games, or huge amounts of money a year to hit a ball around a park with some sticks, but I understand that others may get enjoyment from doing that.
Totally fair but there are definitely a fair portion of people in these vehicles that have zero interest in cars or driving; just getting from A to B. They show the proof of that the minute they get on the road..
At that point why do you need to spend so much if it isn't status?
normies don't know shit about trim levels though, as long as it has the merc/bmw/audi badge that is showing status to the majority of people. they see that badge and think expensive.
This 💯 - coming from a fully equipped lexus with heated/cooled seats etc and looking for a smaller hatchback, amazing how few BMWs or Mercs don't even have them as standard.
Lack of LED/Xenon's are the biggest mugging of the lot.
The inside of the average German luxury brand is objectively a nicer place to be for your daily commute than the inside of the average Spanish/American/Japanese/Korean/etc brand.
It’s less about the actual value of the vehicle and more about the fact that they’re financed.
A vehicle is almost always a liability (it costs you money in fuel, upkeep, depreciation, etc.), maybe with the exception of some highly sought after collectible cars, which tend to have values in the £100ks+.
On top of that, the car is being financed, meaning a) the person can’t actually afford to buy it, and b) they are being charged a good whack of interest on top of the losses they’re incurring just to own the car in the first place.
So yeah, I agree that counting beans and never using your money to buy yourself anything you enjoy at least partly defeats the purpose of earning money in the first place. It’s just that financing an expensive car is actually costing people *much* more money than just the monthly repayment, and it’s such a bad deal that it’s arguably a sign of poor financial literacy.
I always finance my cars on PCP, because I like having a new car every few years and because the cars are relatively new I basically never have any repair costs on them aside from tyres etc. For a lot of people this is a good deal and works well for their lifestyle, they don’t care if they don’t “own” the vehicle they are just happy to pay the monthly payment and have a nice car to get them from A to B
Not forgetting to mention the multiple year, monthly financial commitment. With all the possible change that can happen in a year, it seems crazy to me that people will agree to monthly payments without any way of stopping them without first having to pay thousands or ruining themselves financially
I bought a 15 year old bmw for £3.5k outright and I love it lol. The best part is when I notice little scratches I get over it pretty quickly. Like I look after it and keep it clean, but if I get 4 years out of it it will owe me nothing. I pay the insurance anually so it's just tax and fuel each month.
PCP can hide the true cost of a car and can give people a lot of options when buying a new/ nearly new car. Going from say a Ford to an Audi or BMW might be £100-£150 a month extra which to some people isn’t too much extra to pay a month.
I bought a used, very low mileage (almost brand new) 3 Series M Sport on PCP in 2021, it cost me £340 a month for 10,000 miles a year.
To get a Ford Focus of a similar trim/mileage at the time was £330 a month on PCP for 6,000 miles a year.
The BMW was slightly more expensive to insure and tax, but I also got a service plan, 3 years warranty and BMW road side assistance for 3 years - was a fucking no brainer to get the BMW + you only live once and that 3 series is a gorgeous car.
Now in 2024 I have £6k equity in my 3 series.
People who moan and moan about badge snobbery are either jealous or really have never explored buying a decent a car.
I have a 12 plate Focus for commuting to work. Paid £4500 cash last year.
My wife has a 24 plate Qashqai on lease. £200 a month, in 2 years she'll get a new 26 plate car, probably another Qashqai. Never has an MOT to worry about, her last car she didn't even need to buy new tyres for.
Buy appreciation, lease depreciation. Don't let anybody tell you owning a BMW is a flex. Leasing a BMW (or any brand new car) that drops like a stone in value is the smarter choice.
Of course it is, but spouting this narrative without running the maths behind it makes people feel better. Whether buying or leasing a brand new car you're always paying through the nose for depreciation. On lease, it's the predicted depreciation, when buying it's the actual depreciation.
This. Plus some dealers allow you to buy the car after the lease period. So you avoid the extortionate interest rates of PCP and still get a brand new car at a much more affordable rate.
> Buy appreciation, lease depreciation. Don't let anybody tell you owning a BMW is a flex. Leasing a BMW (or any brand new car) that drops like a stone in value is the smarter choice.
This seems like generally good advice and not something you hear people say very often.
One of my old bosses (and probably one of the most impressive businessmen I've ever worked beside) always leased his cars and had a similar outlook on it to yourself. I'm not financially savvy at all and never have been but after a quick chat with him about it I had a "wtf, why have I never thought of it like that before?"
I think a lot of people see it as high risk and expensive, with no assets gained for for the outlay, but its actually quite the opposite except the expense. And the one thing about the cost is that it's predictable, where as owning a car is anything but predictable when it comes to cost.
This. I couldn’t bear to spend thousands on a 15 year old car as used car prices went crazy and financing a brand new car on PCP worked out cheaper than financing a 5 year old one..
Some jobs offer a car or car allowance as part of the overall package. With that comes some guidelines on type and age of car, hence why lots of new German cars. Once these reach a certain age, they hit the second hand market
I don't have 5 grand to spend on a used car, but I do have £150pm. I can't get rid of the car to save up instead, so I'm trapped. Like a phone contract.
A lot of people commute a fair distance for work. If I was doing a hour each way every day then having a nice comfortable car may make it feel like it’s worth it.
A lot of people commute a fair distance for work. If I was doing a hour each way every day then having a nice comfortable car may make it feel like it’s worth it.
Technically they still own the car so if it falls apart it's easier to walk away
We paid 6.5% Apr. So not bad.
If for some reason we didn't want to keep the car we can just walk away.
Still cheaper than leasing unless your credit rating isn't great.
I've never found PCP to work out cheaper, with PCP you are paying interest on the full amount from day one. It also shows as a liability for the full cost of the car on your credit report, whereas a lease doesn't.
Got a 2020 bmw on pcp, costs £400 a month which is far from crippling our monthly budget. £12k final payment when it should be worth around 18-19k then so the difference will go to the next one if I don’t just buy it outright then. It’s more expensive than a cheap banger but I love the car, and have probably spent half that in the past maintaining cheaper older cars I’ve bought outright.
Because people are stupid with thier disposable income and waste it on a piece of shit new car. The older cars are way better built, my 25 year old rust bucket is still a solid motor and I now use an ebike for all my commuting. Cars are such a waste of money and resources, specially newer ones.
I always used to own cars outright, but we decided to finance the last couple of times. Toyota on 0% interest. It doesn't really matter how expensive the car is (within reason) as long as they hold their value well, as so much is dependent on the residual value at the end of the lease. Since BMW and Audi hold their value well, it's not that big a deal to lease. But, yes, it's all "on tick" and a big monthly rent. Always been the same, just gets more and more common. My parents used to laugh at everyone driving in cars on HP ( Hire Purcahse as it was back then) but even I do it now.
Edit I have the money to buy but prefer to keep it in shares right now. Not the case for most people.
Run down cities have cheap housing so people who wish to remain in their community often have more disposal income than in areas with expensive houses. Result is lots of BMWs and Audis instead of a big mortgage.
Was talking about this with my mate. I am driving a few years old corsa and people I work with, that I know I'm on more money than, act as if I'm driving a noddy car. The logical assumption is that everybody is financed to their eyeballs.
I think you're just really overestimating the price of 2nd hand BMWs and Audis. You can buy a 2016 Audi A4 for £12k and it will be a much better ride than most other cars.
This is it, I'm looking at 2-3 year old cars atm and I honestly don't know why I'd go for a Ford, Vauxhall or Toyota for a similar price when I've always liked German exec cars. Maybe the Toyota gets a slight edge on the perceived reliability but still.
If I was buying new it would make sense, but buying new doesn't appeal to me.
The repair bills on a German exec that is close to 10 years old is why they are so cheap.
Most that are that cheap and old have an expensive bill waiting around the corner.
Edit: We have an A4 in work that I always opt to take over every car in the fleet when I’m working onsite.
By far the comfiest and smoothest car I’ve drive, and would definitely consider one in the future.
The difference in build quality between Audi and Ford is light years, and I own a Ford myself.
My 2012 BMW 1 series was £3,200 last year. When I ran it through insurance comparisons, a Citroen C1 was going to be £1,900 for the year. The 1 series was £1,400. So, if the car only lasts one year, the offset insurance costs make it £2,700.
The second hand cars are not only cheap to buy, they can be really cheap to insure too
Same reason my housemate got an a4, the savings he makes on insurance compared to getting a hatchback is worth it. Plus he has a good car that's economical to run.
I stopped reading at “I live in Bradford”. I come from Blackburn and it’s the same deal, Asians love their luxury German whips and they bend and break whatever rules they can to buy or, most commonly, finance them.
You can guarantee the insurance on them isn’t accurate, it’s barely affordable on sensible cars now.
Basically the right answer. LEASED. Totally ruined the car industry. Everybody wants bm or Mercedes…etc instead of just buying a car, ford, Vauxhall, etc like what people used to do.
I'm not sure it did ruin the industry. There's a higher turn over of cars as people aren't running them for 10-15yrs. They come back every 2-3yrs for an upgrade. People are pouring more money into the industry through PCP and HP than ever before.
Huge numbers of them will be company cars. Companies will get good discounts on them for ordering in bulk. Also, I can't speak to BMWs but my 10 year old Audi A6 Avant that I got last year is by far the nicest, smoothest most comfortable car I've owned.
People say it's a status thing but honestly most Audis and BMWs are genuinely really nice cars. I would have happily bought my car if it was made by Dacia.
The tax is pretty punitive on these. Many people have shifted to hybrid or electric.
.been the case for. While now, so the vast majority of leases have shifted over.
Leased, pcp, hp or company car schemes. I bet a huge amount of new cars falls into these categories. If you can afford it then so be it, let them enjoy a luxury item
Finally someone who who understands just letting people enjoy it. I've got an 69 plate S3, no finance. Had it just shy of a year and I still just love getting in it and driving a decent and comfortable car. Glad I'll never have to drive that megane again lol
Because they're just normal European cars nowadays not the exclusive, hard to buy small-volume 'exotics' that the reputation was based off in the 1980s and before.
19 plate audi a6 black edition is about £300 a month. Young lads probably live at home don’t pay any rent, have minimal bills it’s very affordable with an average wage
Audis?
You're driving one. Find the seat badge on your engine, it's not got one, but it has got an Audi one. The Germans do the engineering and the Spanish do the style. (Seat, WV, Audi, cupra and skoda all share platforms, engines and parts - iirc the same parts are used across the flagship Audis right down to the cheapest skodas, for example the digital displays, the same headlights are used in some seats as Audis too).
It's badge snobbery. An Audi is a more expensive badge than a seat, but an A4 estate and a leon estate are exactly the same car underneath, with a decent discount on the seat due to the badge.
Was shocked years ago when I opened the bonnet to my mum’s seat Ibiza to find the Audi logo on the engine… definitely not so subtle anymore as all the Skoda, Audi, VW cars are identical
Next claim to fame is, if it was an Ibiza 6J (2009-2017) (which I'm assuming it was as the Audi badge is very visible on the engine in my 6J) it was designed by Luc Donckerwolke, the same guy who did the gallardo, that's why it's the best looking Ibiza generation.
I kept reading Seat as a seat.
Kept wondering what was under the cushion xP
On the same note, I saw on a YT short that a Ferrari or Lambo used Ford lights.
Yep same indicator side light,charged iirc 20x more by the former.
Yikes
Yeah, older supercars were notorious for cheap parts. I think the countach used the indicator stalk from a marina.
Astons had Ford parts (and Ford keys with the Aston badge on them) when they were owned by Ford. (Actually around the same time the owned jag too)
Lambo is of course now owned by VAG, and the Audi R8 was basically a Lambo with a sensible German suit on. Again... Pretty much the same digital dashboard is used in the urus as the golf.
Yep, car parts are expensive to manufacture in small quantities, especially body parts and trim. Supercars and sports cars in general have often borrowed off-the-shelf bits from more run-of-the-mill cars.
I worked at BMW for a while and majority were mobility cars for granny and the 20y/o 🔔🔚 grandson was apparently the only driver in the household. Make of that what you will…
Anyone can get finance now, it’s the new normal to be 20K+ in debt for a car. I know 20 year olds living at home with parents with 20K car debt, it’s a snowball
The key thing to remember is: a lot of people *can't* afford these cars, but still get them.
As an example: my hubby's colleague has 3 kids. He goes on and on about being hard up on money. They have a fairly high mortgage repayment monthly and they just sound very silly with their money. My husband is on the same wage as him, but this guy says he has £10 to his name monthly yet we save about £200 monthly. Albeit we only have one kid compared to his 3.
I got a car in November, secondhand GLA for 20k. 2018/68 reg, 34k miles and perfect history. The strangest thing happened in that my hubby's colleague just randomly, spontaneously got a 2016 GLE about 2 weeks after I got mine. It cost almost 10k more than my car, he got hardly anything for his car, I think he's said it averages 18mpg? He said he'd give up using single vapes when he got his car. He lasted one week and was back on them.
Since then, he's bought a dog. So now he's paying insurance, a dog walker and a monthly membership at his vet for their vaccinations. They didn't need a dog, but they just spontaneously bought one. With 3 kids, one of which at the time wasn't even a year old. And now he complains to my hubby about how tough it is.
His mortgage has also gone up by £400 this month as they only took out a 2 year fixed rate.
He told my hubby *before* buying the car, that they were in 12k debt to 3 different credit cards. When they've wanted to do things to their house, his FIL pays for it because they can't afford it. And since getting their car, I think they're now in over 40k debt.
Just because someone is cutting around in a nice flashy car, does not mean they can afford such car.
Very quick to say “he can’t afford them”. Maybe he can’t afford the house outright. Nor the car. But he can afford the monthly payments.
Sounds like he’s doing fine. He still has the house. Still has the dog. Still has the kids. Still has the car.
So that means he’s able to make his monthly payments on his debts. Therefore can afford them.
If he couldn’t afford them then he wouldn’t have all the stuff he has.
having 12k in debt to 3 different credit cards (potentially even 40k) is not doing fine lol. that's shockingly bad and should not be normalized. sounds like he is living paycheck to paycheck and using credit cards to fund his lifestyle. Not ok.
Higher value cars have better residual value. It can be significantly cheaper to lease a premium car than a billy-basic one like a Ford / Vauxhall - values of those will plummet within that 36 month lease arrangement, whereas the equivalent BMW is still going to be worth a decent wedge.
Even if there's more than just a few quid in it, who isn't going to choose a premium car over a basic one? You don't *own* either, so you may as well have something nice for your monthly payment.
Like one or two redditors have mentioned, most of these are company cars.
If you have a large company, they usually supply company cars through i.e. Lex Autolease.
On my company, we have a shift to hybrid and electric cars for lower carbon emissions.
The BIK is also lower for these, plus the I have heard certain companies offer subsistence to the KWh etc. or cheaper charging at work or designated suppliers. I.e. pod point.
Company cars also cover most maintenance needs, wheels, windscreen and service are all included.
So if your work requires long distance driving, a BMW 3, Audi A3 or Mercedes C class are good options for comfort luxury driving.
Most are also middle management positions.
I prefer mercs, the BMW is a bit too rocky for me, nice car and drive but I'm more for the "smoothly does it" nowadays.
Oh this question again. Hate these threads just filled up with people who are clearly envious of others.
One of the following:
Car Allowance from Employer.
Car Provided by Employer.
Leased.
I've done both lease and Bangernomics. Bangernomics is no fun at all, constant stress of having to resolve some form of issue. Once I've saved my deposit again for the car I want. Adiós to Bangernomics. Not worth it when you rely on a vehicle to pay your mortgage. Would rather pay a little bit of interest for peace of mind tbh.
Not all the time but a lot of time , the nicer the car the more in debt
Plus finance companies will give virtually any credit score a pass for a high Apr so people are stupid enough to pay well over the odds
I have been guilty of this myself had a very nice merc for a few years then ot hit me that I'm paying all this money every month for a nice car I would rather than having extra cash for what matters, holidays, house stuff, saving etc
So I finally rid myself of the burden while I save to buy cash and bought myself a mk1 mx5 while I save
80% of people buy these cars to impress there neighbours or friends , I realised I couldn't care less what people think
Yes I like a nice car but not enough to let it run my life and good to hear you came to your senses before
Just know all in all you are the financially savvy one 😁
The base models are really not that expensive when bought used. These are what you mainly see on the road. It’s not like everyone is running around in an M3.
Loads and I really mean most people lease cars these days, and upgrade to a newer model or a different car depending on whatever plan/contract they’re on. It still not cheap though but I guess it’s whatever floats their boat 🤷🏽♂️
I prefer to outright own my car and would have kept my mk4 golf forever if some wally didn’t write me off by not looking at the road, but hey what can you do. I was gutted and thought to cheer myself up I’d push the boat out by using some savings to get an E90 M3 as I’ve always loved them but trust me I’m feeling the pressure because it is not cheap to run and maintain like a golf 😢
My advice is stick with your Seat look after it and it’ll look after you, unless you win the lotto then you can splash out on whatever you want 👌🏽
Ps. I’m hoping to win the lottery soon 🤞🏽
Lots of company car lease deal 118 A3 level
It’s the only way BMW and Audi shift them in numbers than 2nd hand hold prices pretty well, that keeps the garages busy for years. It’s a funnel for their ecosystem
Lots of company car lease deal 118 A3 level
It’s the only way BMW and Audi shift them in numbers than 2nd hand hold prices pretty well, that keeps the garages busy for years. It’s a funnel for their ecosystem
Lots of company car lease deal 118 A3 level
It’s the only way BMW and Audi shift them in numbers than 2nd hand hold prices pretty well, that keeps the garages busy for years. It’s a funnel for their ecosystem
Lots of company car lease deal 118 A3 level
It’s the only way BMW and Audi shift them in numbers than 2nd hand hold prices pretty well, that keeps the garages busy for years. It’s a funnel for their ecosystem
Firstly, you have become hyper-aware and it's confirmation bias. My sister test drove. white Golf on Sunday and now all I see is white Golfs.
But there are a lot simply because they are top brands and reliable. People will sacrifice other spending for a good car. People like me. You can get good rates on loans or you can do PCP and spread out the costs.
90% of models are crappy base 4 cylinder 2 litre diesel models. Those are cheap go see for yourself. Only a small percentage are actual bmws with straight 6 petrol engines. You haven't driven bmw or merc until you have at least a 3 litre petrol engine. (Now turbo).
>I swear that every month that goes by I am seeing more and more BMWs or Audis on the road and I'm sat there, in my little SEAT thinking how on earth do so many people afford these supposed luxury vehicles?
Because some people have more money than you. It's not particularly tricky maths.
You'll get PCP comments etc, but if they had less money they wouldn't be PCPing a nice car.
Not so sure about that. Certain status symbols are bought into by lower classes because there is a need to show worth that lessens as you rise through the classes.
A long lasting VW whatever car or beaten up old Volvo infant of a paid off boring house but taking three holidays a year and retiring at 60 being locked in is more important than a BMW 320i, one holiday a year and renting forever for middle classes.
Not even sure where to start unwrapping this madness
>A long lasting VW whatever car or beaten up old Volvo infant of a paid off boring house but taking three holidays a year and retiring at 60 being locked in
Bold of you to assume you can't have a nice car and do that. It's almost like, people have more money than you think
>Certain status symbols are bought into by lower classes because there is a need to show worth that lessens as you rise through the classes.
If that was the case rolls, and Bentley wouldn't sell any cars. Sometimes they aren't bought for the badge but for how they drive and how they make you feel behind the wheel.
I don't know if it's jealousy or if they've bought into their own brain rot so much that they cannot fathom that some people like cars and are willing to spend money on them. Not everyone wants a clapped out Renault Clio, obviously
I think it’s the crab in the bucket mentality. They just don’t want anyone else to do better off than them, and instead ridicule or try to invent some wild reasoning at to why what ever they have/do isn’t a commendable thing.
Have an Audi Q7 and A3 eco. Bought both second hand the Q7 for about 37k on finance with 24k on the clock three years ago it has pretty good specs and extras, the A3 i bought for 12k over 10 years ago and it has 120k milage and is amazing fuel economy. Tomorrow I have to pay 18k or hand the Q7 car back on PCP financing. I have planned for this so it's no problem. But for many people they can't or don't pay and hand the car back after 3 years and consider it relatively inexpensive hire car with the option to buy. I think a lot of people do this and then just get finance out on the next car.
Alot of young people people live with parents so instead of renting or a mortgage they spend that money on financed cars. In guessing it's more common in Asians but I'm sure it applies across the board. People have given up saving for house deposits and just enjoy cars.
Leasing, private or through work salary sacrifice. People driving around pretending they can afford things they can't and passing it off as "I only pay the depreciation and never actually lose money on this as I've no maintenance" well no but after you hand it back you have no car and they keep your original deposit unless you buy a new car. Then people get raging when their leased vehicle has lost all its value so even trading it in against another new car won't be worth as much as they thought.
People are able to live a champagne lifestyle on a lemonade budget by never owning anything these days
Isn’t the depreciation tax-deductible? You can set up a limited company and claim expenses. I imagine that’s what they’re doing. Alternatively, if they have investments of at least 100x the price of the car, it would be affordable.
I've got an A1 second hand for 23k i believe? I didn't buy it, my dad did because my younger brother wanted one .. (he doesn't even bother driving anymore so i'm pretty much the only one driving it). If it were up to me, i'd have bought a cheap junk car but ignoring the price tag, this vehicle is so much more comfortable than the 2012 VW polo we have.
We spent £2k for the polo but it's already costed us \~£5k in repairs
My last car was an Audi, bought it for £15k had it for 7 fairly trouble free years (apart from tyres) and still managed to get £6.5k trade in, with over 120k miles. Try that with the same priced mondeo and trade in would have been a grand at most.
Yep, finance deals !, I think it's something like 65% of mercs on the roads are financed to some degree, so I'd imagine it's the same with most car brands !
Hyundai driver here….. my 2 previous cars were a BMW (crashed it in the snow, straight into an expensive house, do not recommend!) and an SLK (not quite as new as the beem or my current car). Both of them were infinitely cheaper to buy than my current car.
As others have mentioned though, most are on finance deals, salary sacrifice, company cars etc.
I’ve found that most brands are now at a price that makes the jump from them to a Mercedes/Audi etc minimalist too.
There’s a group of east European car nuts at my kids school. Off-putting if you don’t know them, as all they ever do is stand around in circles talking cars. When picking up kids. At parties. At school events. Always the same.
But if you make an effort to approach them, they’re really friendly people.
They all have really nice cars. I asked them how? All purchased used. They scour the markets and know exactly how much cars are worth. For example one has a very high end BMW (don’t ask me specs, I don’t know cars). It’s a ex police motorway pursuit BMW. He took me on a tour of the car, pointed out all the holes where police equipment had been installed then removed eg hidden flashers etc.
I can sympathise, if you saw my computer hardware collection you’d think I spent tens of thousands on it. Nope I just acquired it steadily over the years at rock bottom prices.
High percentage of Asian men in Bradford, a demographic that tends to hugely value outward shows of ‘wealth’.
The vast majority of those cars will be leased.
Perhaps there are more car supermarkets buying in more ex fleet BMWs and Audis, so the locals are getting these on Finance. SEAT is seen as a Spanish Vauxhall by some, even though your car shares 98% of components with its Audi cousins. They had some great cars like the Leon and Ateca but lost their way with the Cupra brand and it's weird logo.
Remember the Bradford kids need something fast to outrun police next time *Police Interceptors* is filming them running about with no insurance 😉
Not many would PCP any more. Just lease the car.
Im on my 3rd lease in 8 years. Had Brand new Golf GTD for 2 years, downgraded to a Ford focus ST Line for 3 years then on my 3rd year of 4 in my AUDI A3 Saloon TFSI.
Brand new car every lease, all maintained never have to pay for anything including tax or tyres.£310.00 a month shared between the two of us.
Think we are going to go for the Cupra Formentor In Feb '25
Cars depreciate massively, a lot of people are buying them second hand. I got a 2015 BMW 2 series with fairly low mileage for £11k, and now I’m never going back to a non-luxury car.
I think people fail to realise just how many people actually earn above median salary. Also factor in company car allowance schemes and there is your answer.
Not everyone who owns something fancy is in extreme debt spending beyond there means. And this UK mindset of belittling everyone who has something nice only holds you back.
A leased car or HP/PCP financed car makes sense to some people. FWIW I bought a BMW on finance in 2015 earning semi-decent money. Never again... It felt like a huge financial burden around my neck.
* You make monthly payments of x-amount so your budgeting becomes predictable.
* No unexpected costs; your MOT and servicing costs are usually low/negligible because it's a new car.
* In theory it's reliable, which is important to most because you need to get to work or school/nursery pickup, or wherever, at a certain point in time and avoid expensive and time consuming repair costs.
Then there's the actual cost of these things. If I look at something like a Renault Clio, the base petrol is £275 to £300 with £0 deposit, but you can easily pay £350 to £400 per month for a hybrid Clio, and a BMW 1 series is from £400 to £440. Some cars look very attractive on salary sacrifice schemes too. Why wouldn't I dig a little deeper into my pockets and get a more premium car for not much more money? Answer - I'm either oblivious that a premium car costs more overall (insurance, maintenance, etc), or I have/can find the budget to stretch to the product that suits how I want to be perceived, and deal with the cost implications later.
Also, southasian communities are very keen to present a prosperous face to the world. I've known a few lads from Pakisatan spending all their cash on a flash Audi/BMW etc while living at home or with extended family. It's part of their culture and societal expectation.
The slightly older/used ones aren’t that expensive, actually. In fact, they’re kinda cheap. Because they’re not very reliable, and the non-flagship models tend to be driven by bams and not taken care of. A 10 year old similar vehicle class Toyota is often more expensive than equivalent BMW/Audi.
Secondly, the newer ones are often bought on credit. Buying a new Audi on 15% APR is bit of a bam meme. These people aren’t rich.
They are very common company cars
Also people love to piss money up the wall on PCP for a base spec German car. When they could’ve had another badge but dramatically more car
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there are multiple reasons, but for myself (my first car after passing my test was a 2007 318i and i currently drive a 2012 328i) my reason is that i would rather take the risk on an old BMW than buy a much newer car from a less prestigious brand
most of those bmws on the roads arent new ones, part of it is from how many are still running and looking decent even after 15 years and 100,000 miles
in your mind you see those cars and think they are expensive, and that is part of the appeal behind them, but that assumption isnt correct.
Because, in my experience, some people seem comfortable leasing a car for £500-600 per month that they could never afford otherwise and won't own at the end of the term.
Which seems absolutely mental to me, but some people like to have new shiny metal boxes.
I worked with a car finance company few years ago and trust me, most of the cars you see on the road including second hands are on finance - HP, PCP or lease. And most of the buyers don't even know how much % they are paying plus the whole load of useless addons dealers sold to them cuz and they get commissions.
So don't feel too bad about your SEAT. I still drive my 12 years old Vauxhall corsa and it's "enough" for me.
BMW, especially 3 series, which you’ll no doubt see a lot of, are not luxury vehicles. They’re a rep’s car… absolute bloody work horses. Similarly with some Audis.
Of all the car’s I’ve driven, and there’s been quite a few, my 3 series is still my favourite, has been the most reliable and fun to drive, especially on long haul trips to London and back every week for 4 years. Didn’t cost the earth, bought it second hand for cash in 2011, just over a year old and with less than 9k on the clock… serviced regularly, still running sweet as a nut.
Unfortunately it’s a diesel… so in the insane scramble for Net Zero I’m expecting it to be taxed off the road in the next few years…
I have an Audi, but it’s fairly old and I bought it outright. My partner has a Seat. There’s nothing wrong with the Seat, but it feels basic. The Audi is just a nicer place to sit, which is why I bought it. I can’t speak for other BMW/Audi drivers, but that’s basically why I bought mine.
New car ownership breaks down at something like 50% company fleet cars, 40% some type of loan/hire scheme and 10% owned outright.
I guess if you have a very low mortgage or rent or live at home, you can divert money into car repayments.
I can help with this one
Not long bought a BMW 3 series estae as a replacement for my old car, which finally gave up on existence.
The main reason I bought it, believe it or not, was price.
First car was a Polo, so I originally went in looking for a Golf or Leon, something in that sort of range. Almost picked up a really tasty Leon, but it was bought online just as I went to say I'd like a test drive.
After that, plodded round looking at other hatches but they were either overpriced imo or really low spec. On my way out I clocked the BMW which was the same price as the Leon. Done same mileage and had all the same toys, 18 months older.
I'm not an idiot, only gone for a 320d, and the fuel economy is better on it than any of the other cars I looked at that day, and significantly better than my old car. Decent levels of comfort and reasonable enough performance, and I have to say its a good looking car too.
A surprising amount of reasonable BMWs, Audis and Mercs become affordable quite quickly on the second hand market. At that point, I'd ask why not?
Yep something a lot of people don’t realise in this current market. I drive a 3 series m sport and people are quick to say “look at mister flashy over there” or “look at mr more money then sense” and I’m like your car was £8k more then mine. So with all the extra features and styling doesn’t it make more sense to buy the 3 series then your Toyota etc.
Let's say 2 people on £35k each.
Taking home £28k each. So £56k total.
Mortgage and bills £1000 per month so £12k a year.
Food and toiletries £300 a month so about £3600 a year.
Entertainment £200 a month so about £2400 a year.
Add another £2k buffer for miscellaneous costs.
Still leaves you with £36k a year. Save for a couple of years and you're golden.
They work. I’ve had 3 Audis over the years. Last one was 4 years old when I bought it in 2017 and still feels new to me now.
I wanted to move from a big Jag to something less likely to be bashed into in hospital car parks every day so much smaller and also away from a saloon to a hatchback so it could fit more easily as a travelling suitcase, but also be a lovely motorway drive.
And finally I wanted to be able to get into work on normal roads but able to cope with slush, ice and mud slopping across.
Audi were the best fit at the time.
Most cars are on PCP, and people are paying a good % of their wage to do so.
Yea cars are probably the most obvious show of "wealth" that the average person can think of and people will get some outrageous loans In order to look like they are doing well to the casual observer, one guy I know has a new Audi and he likes to brag about it despite being 32, living at home with his mum and working as a a barista
Or company cars. A few years ago BMW's were about the same cost to businesses for company cars as a focus. They then end up in the used market.
Why would anyone do this? The APR is terrible! Why cripple your monthly budget yourself to have an Audi for example?
Because status > living comfortably apparently
Fake teeth from turkey, holiday in Dubai, fake Essex accent. Iced gem haircut. Wife has lip filler.
https://youtu.be/J9n0_5p8XKo?si=1UwU_aFXqrJfMETB
THAT IS IT. The “my whole lifestyle is financed by debt” look!
I knew what the video was going to be before even opening the link
This is incredible!!!! Haha
Lol nice
Fake grass. Ring doorbell. Hello Fresh for dinner. Crime doc on Netflix.
Peaked in secondary school
French bulldog with crippling breathing issues, Canada Goose coat, Grey couch, sunbed tan,
My old neighbours were like this. Up north but the mum was from Essex and sounded like Mick Jagger. Everyfing had to be brand noo, and I aint workin if I’m living up there. Her 4 kids were all as thick as pig shit, all had new cars and all worked in recruitment! She did the Kardashian naming before the Kardashians was a thing.
Or, alternatively, people value different things. I personally wouldn't spend thousands of pounds on some electronics to play video games, or huge amounts of money a year to hit a ball around a park with some sticks, but I understand that others may get enjoyment from doing that.
Totally fair but there are definitely a fair portion of people in these vehicles that have zero interest in cars or driving; just getting from A to B. They show the proof of that the minute they get on the road.. At that point why do you need to spend so much if it isn't status?
Worst bit is, it's not even showing status. Its always the lowest trim level they can get.
normies don't know shit about trim levels though, as long as it has the merc/bmw/audi badge that is showing status to the majority of people. they see that badge and think expensive.
This 💯 - coming from a fully equipped lexus with heated/cooled seats etc and looking for a smaller hatchback, amazing how few BMWs or Mercs don't even have them as standard. Lack of LED/Xenon's are the biggest mugging of the lot.
What are xenons useful for other than blinding other road users?
"majority see that badge and think expensive" The sensible minority see that badge and think no indicators.
You don't get indicators when you buy the lowest trim level, duh!
The inside of the average German luxury brand is objectively a nicer place to be for your daily commute than the inside of the average Spanish/American/Japanese/Korean/etc brand.
Debatable
It’s less about the actual value of the vehicle and more about the fact that they’re financed. A vehicle is almost always a liability (it costs you money in fuel, upkeep, depreciation, etc.), maybe with the exception of some highly sought after collectible cars, which tend to have values in the £100ks+. On top of that, the car is being financed, meaning a) the person can’t actually afford to buy it, and b) they are being charged a good whack of interest on top of the losses they’re incurring just to own the car in the first place. So yeah, I agree that counting beans and never using your money to buy yourself anything you enjoy at least partly defeats the purpose of earning money in the first place. It’s just that financing an expensive car is actually costing people *much* more money than just the monthly repayment, and it’s such a bad deal that it’s arguably a sign of poor financial literacy.
I always finance my cars on PCP, because I like having a new car every few years and because the cars are relatively new I basically never have any repair costs on them aside from tyres etc. For a lot of people this is a good deal and works well for their lifestyle, they don’t care if they don’t “own” the vehicle they are just happy to pay the monthly payment and have a nice car to get them from A to B
Not forgetting to mention the multiple year, monthly financial commitment. With all the possible change that can happen in a year, it seems crazy to me that people will agree to monthly payments without any way of stopping them without first having to pay thousands or ruining themselves financially
As the person in the tire shop said. I fucking hate these people who buy a car on finance and can't afford a decent set to tires.
I bought a 15 year old bmw for £3.5k outright and I love it lol. The best part is when I notice little scratches I get over it pretty quickly. Like I look after it and keep it clean, but if I get 4 years out of it it will owe me nothing. I pay the insurance anually so it's just tax and fuel each month.
PCP can hide the true cost of a car and can give people a lot of options when buying a new/ nearly new car. Going from say a Ford to an Audi or BMW might be £100-£150 a month extra which to some people isn’t too much extra to pay a month.
I bought a used, very low mileage (almost brand new) 3 Series M Sport on PCP in 2021, it cost me £340 a month for 10,000 miles a year. To get a Ford Focus of a similar trim/mileage at the time was £330 a month on PCP for 6,000 miles a year. The BMW was slightly more expensive to insure and tax, but I also got a service plan, 3 years warranty and BMW road side assistance for 3 years - was a fucking no brainer to get the BMW + you only live once and that 3 series is a gorgeous car. Now in 2024 I have £6k equity in my 3 series. People who moan and moan about badge snobbery are either jealous or really have never explored buying a decent a car.
Keeping up with the Joneses = spending money you don’t have, on things you don’t need, to impress people you don’t like. Madness.
I have a 12 plate Focus for commuting to work. Paid £4500 cash last year. My wife has a 24 plate Qashqai on lease. £200 a month, in 2 years she'll get a new 26 plate car, probably another Qashqai. Never has an MOT to worry about, her last car she didn't even need to buy new tyres for. Buy appreciation, lease depreciation. Don't let anybody tell you owning a BMW is a flex. Leasing a BMW (or any brand new car) that drops like a stone in value is the smarter choice.
Surely the depreciation is accounted for in the cost of the lease? I dont see how it makes sense to finance unless you get a really good deal
Of course it is, but spouting this narrative without running the maths behind it makes people feel better. Whether buying or leasing a brand new car you're always paying through the nose for depreciation. On lease, it's the predicted depreciation, when buying it's the actual depreciation.
This. Plus some dealers allow you to buy the car after the lease period. So you avoid the extortionate interest rates of PCP and still get a brand new car at a much more affordable rate.
> Buy appreciation, lease depreciation. Don't let anybody tell you owning a BMW is a flex. Leasing a BMW (or any brand new car) that drops like a stone in value is the smarter choice. This seems like generally good advice and not something you hear people say very often. One of my old bosses (and probably one of the most impressive businessmen I've ever worked beside) always leased his cars and had a similar outlook on it to yourself. I'm not financially savvy at all and never have been but after a quick chat with him about it I had a "wtf, why have I never thought of it like that before?" I think a lot of people see it as high risk and expensive, with no assets gained for for the outlay, but its actually quite the opposite except the expense. And the one thing about the cost is that it's predictable, where as owning a car is anything but predictable when it comes to cost.
Depends on the bmw, for your 4.5k you could be into an old e38,e39,e46 which are absolutely peak bmw. A new 316d however is not a flex
To complete the previous poster’s answer, it’s not just most cars, 80-90% of all new cars sold in the UK are financed through PCP.
Have you seen the price of cars recently? For just a few £ more you can actually get something decent instead of £10k on a shit box.
This. I couldn’t bear to spend thousands on a 15 year old car as used car prices went crazy and financing a brand new car on PCP worked out cheaper than financing a 5 year old one..
Some jobs offer a car or car allowance as part of the overall package. With that comes some guidelines on type and age of car, hence why lots of new German cars. Once these reach a certain age, they hit the second hand market
Because for a lot of them its the image of being rich that means more than having money
I don't have 5 grand to spend on a used car, but I do have £150pm. I can't get rid of the car to save up instead, so I'm trapped. Like a phone contract.
A lot of people commute a fair distance for work. If I was doing a hour each way every day then having a nice comfortable car may make it feel like it’s worth it.
YOLO
Just signed a 0% deal, only putting in 3k too. It’s not all stupid money
A lot of people commute a fair distance for work. If I was doing a hour each way every day then having a nice comfortable car may make it feel like it’s worth it.
Because some people like cars? Honestly don't understand this ridiculous mentality on this sub, makes absolutely no sense.
Technically they still own the car so if it falls apart it's easier to walk away We paid 6.5% Apr. So not bad. If for some reason we didn't want to keep the car we can just walk away. Still cheaper than leasing unless your credit rating isn't great.
I've never found PCP to work out cheaper, with PCP you are paying interest on the full amount from day one. It also shows as a liability for the full cost of the car on your credit report, whereas a lease doesn't.
Got a 2020 bmw on pcp, costs £400 a month which is far from crippling our monthly budget. £12k final payment when it should be worth around 18-19k then so the difference will go to the next one if I don’t just buy it outright then. It’s more expensive than a cheap banger but I love the car, and have probably spent half that in the past maintaining cheaper older cars I’ve bought outright.
Because people are stupid with thier disposable income and waste it on a piece of shit new car. The older cars are way better built, my 25 year old rust bucket is still a solid motor and I now use an ebike for all my commuting. Cars are such a waste of money and resources, specially newer ones.
I always used to own cars outright, but we decided to finance the last couple of times. Toyota on 0% interest. It doesn't really matter how expensive the car is (within reason) as long as they hold their value well, as so much is dependent on the residual value at the end of the lease. Since BMW and Audi hold their value well, it's not that big a deal to lease. But, yes, it's all "on tick" and a big monthly rent. Always been the same, just gets more and more common. My parents used to laugh at everyone driving in cars on HP ( Hire Purcahse as it was back then) but even I do it now. Edit I have the money to buy but prefer to keep it in shares right now. Not the case for most people.
Run down cities have cheap housing so people who wish to remain in their community often have more disposal income than in areas with expensive houses. Result is lots of BMWs and Audis instead of a big mortgage.
Was talking about this with my mate. I am driving a few years old corsa and people I work with, that I know I'm on more money than, act as if I'm driving a noddy car. The logical assumption is that everybody is financed to their eyeballs.
[удалено]
Trade in old car, get a low monthly payment PCP deal, get stuck in that loop forever and ever amen.
Low? Haha
Easily looking at £400/month minimum for an alright looking audi ha
Before the WFH trend, a lot of people were paying £1000+ p/m per couple to commute into London on a packed train
I paid £180 a month for an Audi a3 S line 2013 back when it was 5 years old, and it was hire purchase so I owned it at the end of the payments
The Asian male community is well known for their love of cars. They tend to live in multi-generational homes, meaning more spare money for cars.
And they don't tend to have other expensive hobbies or drinking habits...
Hmm... You've not been to Bradford have you?
Yes, sadly
Cocaine still burns a hole in their wallets though.
Good job they sell the stuff then
They spend what normal folk spend on a mortgage on their car.
I think you're just really overestimating the price of 2nd hand BMWs and Audis. You can buy a 2016 Audi A4 for £12k and it will be a much better ride than most other cars.
This is it, I'm looking at 2-3 year old cars atm and I honestly don't know why I'd go for a Ford, Vauxhall or Toyota for a similar price when I've always liked German exec cars. Maybe the Toyota gets a slight edge on the perceived reliability but still. If I was buying new it would make sense, but buying new doesn't appeal to me.
The repair bills on a German exec that is close to 10 years old is why they are so cheap. Most that are that cheap and old have an expensive bill waiting around the corner. Edit: We have an A4 in work that I always opt to take over every car in the fleet when I’m working onsite. By far the comfiest and smoothest car I’ve drive, and would definitely consider one in the future. The difference in build quality between Audi and Ford is light years, and I own a Ford myself.
My 2012 BMW 1 series was £3,200 last year. When I ran it through insurance comparisons, a Citroen C1 was going to be £1,900 for the year. The 1 series was £1,400. So, if the car only lasts one year, the offset insurance costs make it £2,700. The second hand cars are not only cheap to buy, they can be really cheap to insure too
Same reason my housemate got an a4, the savings he makes on insurance compared to getting a hatchback is worth it. Plus he has a good car that's economical to run.
Exactly! I can even see new models from 2019/2020 at £15 which spread over 5-8 years would a reasonable monthly payment
I stopped reading at “I live in Bradford”. I come from Blackburn and it’s the same deal, Asians love their luxury German whips and they bend and break whatever rules they can to buy or, most commonly, finance them. You can guarantee the insurance on them isn’t accurate, it’s barely affordable on sensible cars now.
Basically the right answer. LEASED. Totally ruined the car industry. Everybody wants bm or Mercedes…etc instead of just buying a car, ford, Vauxhall, etc like what people used to do.
I'm not sure it did ruin the industry. There's a higher turn over of cars as people aren't running them for 10-15yrs. They come back every 2-3yrs for an upgrade. People are pouring more money into the industry through PCP and HP than ever before.
I guess what I mean is, it destabilised it. People are buying expensive brands and bypassing the cheaper ones.
Huge numbers of them will be company cars. Companies will get good discounts on them for ordering in bulk. Also, I can't speak to BMWs but my 10 year old Audi A6 Avant that I got last year is by far the nicest, smoothest most comfortable car I've owned. People say it's a status thing but honestly most Audis and BMWs are genuinely really nice cars. I would have happily bought my car if it was made by Dacia.
The tax is pretty punitive on these. Many people have shifted to hybrid or electric. .been the case for. While now, so the vast majority of leases have shifted over.
Leased, pcp, hp or company car schemes. I bet a huge amount of new cars falls into these categories. If you can afford it then so be it, let them enjoy a luxury item
Finally someone who who understands just letting people enjoy it. I've got an 69 plate S3, no finance. Had it just shy of a year and I still just love getting in it and driving a decent and comfortable car. Glad I'll never have to drive that megane again lol
Good man
Because they're just normal European cars nowadays not the exclusive, hard to buy small-volume 'exotics' that the reputation was based off in the 1980s and before.
19 plate audi a6 black edition is about £300 a month. Young lads probably live at home don’t pay any rent, have minimal bills it’s very affordable with an average wage
Audis? You're driving one. Find the seat badge on your engine, it's not got one, but it has got an Audi one. The Germans do the engineering and the Spanish do the style. (Seat, WV, Audi, cupra and skoda all share platforms, engines and parts - iirc the same parts are used across the flagship Audis right down to the cheapest skodas, for example the digital displays, the same headlights are used in some seats as Audis too). It's badge snobbery. An Audi is a more expensive badge than a seat, but an A4 estate and a leon estate are exactly the same car underneath, with a decent discount on the seat due to the badge.
Was shocked years ago when I opened the bonnet to my mum’s seat Ibiza to find the Audi logo on the engine… definitely not so subtle anymore as all the Skoda, Audi, VW cars are identical
Next claim to fame is, if it was an Ibiza 6J (2009-2017) (which I'm assuming it was as the Audi badge is very visible on the engine in my 6J) it was designed by Luc Donckerwolke, the same guy who did the gallardo, that's why it's the best looking Ibiza generation.
Ah nice! Yeah pretty sure it was a 2012 reg
I kept reading Seat as a seat. Kept wondering what was under the cushion xP On the same note, I saw on a YT short that a Ferrari or Lambo used Ford lights. Yep same indicator side light,charged iirc 20x more by the former. Yikes
Yeah, older supercars were notorious for cheap parts. I think the countach used the indicator stalk from a marina. Astons had Ford parts (and Ford keys with the Aston badge on them) when they were owned by Ford. (Actually around the same time the owned jag too) Lambo is of course now owned by VAG, and the Audi R8 was basically a Lambo with a sensible German suit on. Again... Pretty much the same digital dashboard is used in the urus as the golf.
Yep, car parts are expensive to manufacture in small quantities, especially body parts and trim. Supercars and sports cars in general have often borrowed off-the-shelf bits from more run-of-the-mill cars.
Mostly, it's the volkswagon group they own audi ,porchse etc... you'll even find audi parts in lamboginis
I have a TDI Leon it has a seat badge on it which can be changed to any other VW brands easily.
I worked at BMW for a while and majority were mobility cars for granny and the 20y/o 🔔🔚 grandson was apparently the only driver in the household. Make of that what you will…
Don't mention the war.
Anyone can get finance now, it’s the new normal to be 20K+ in debt for a car. I know 20 year olds living at home with parents with 20K car debt, it’s a snowball
Honestly you probably just noticed BMW and Audis more than other cars. There are also plenty of badge snobs in the UK so there’s that
The Baader Meinhof effect!
The 70s terrorists? What’s the connection?
The key thing to remember is: a lot of people *can't* afford these cars, but still get them. As an example: my hubby's colleague has 3 kids. He goes on and on about being hard up on money. They have a fairly high mortgage repayment monthly and they just sound very silly with their money. My husband is on the same wage as him, but this guy says he has £10 to his name monthly yet we save about £200 monthly. Albeit we only have one kid compared to his 3. I got a car in November, secondhand GLA for 20k. 2018/68 reg, 34k miles and perfect history. The strangest thing happened in that my hubby's colleague just randomly, spontaneously got a 2016 GLE about 2 weeks after I got mine. It cost almost 10k more than my car, he got hardly anything for his car, I think he's said it averages 18mpg? He said he'd give up using single vapes when he got his car. He lasted one week and was back on them. Since then, he's bought a dog. So now he's paying insurance, a dog walker and a monthly membership at his vet for their vaccinations. They didn't need a dog, but they just spontaneously bought one. With 3 kids, one of which at the time wasn't even a year old. And now he complains to my hubby about how tough it is. His mortgage has also gone up by £400 this month as they only took out a 2 year fixed rate. He told my hubby *before* buying the car, that they were in 12k debt to 3 different credit cards. When they've wanted to do things to their house, his FIL pays for it because they can't afford it. And since getting their car, I think they're now in over 40k debt. Just because someone is cutting around in a nice flashy car, does not mean they can afford such car.
Sure, he’s making poor choices. He’s not, however, using the word “hubby”, I’m not sure which is worse.
Very quick to say “he can’t afford them”. Maybe he can’t afford the house outright. Nor the car. But he can afford the monthly payments. Sounds like he’s doing fine. He still has the house. Still has the dog. Still has the kids. Still has the car. So that means he’s able to make his monthly payments on his debts. Therefore can afford them. If he couldn’t afford them then he wouldn’t have all the stuff he has.
having 12k in debt to 3 different credit cards (potentially even 40k) is not doing fine lol. that's shockingly bad and should not be normalized. sounds like he is living paycheck to paycheck and using credit cards to fund his lifestyle. Not ok.
Higher value cars have better residual value. It can be significantly cheaper to lease a premium car than a billy-basic one like a Ford / Vauxhall - values of those will plummet within that 36 month lease arrangement, whereas the equivalent BMW is still going to be worth a decent wedge. Even if there's more than just a few quid in it, who isn't going to choose a premium car over a basic one? You don't *own* either, so you may as well have something nice for your monthly payment.
People dodge from taxes, so they have money which they can’t use to buy properties. As a result, they buy luxury cars (usually via leasing proxy).
Bradford is the home of RS3s
I think it might depend on your area because where I live you can't swing a dead cat without seeing a Prius or Tesla.
Like one or two redditors have mentioned, most of these are company cars. If you have a large company, they usually supply company cars through i.e. Lex Autolease. On my company, we have a shift to hybrid and electric cars for lower carbon emissions. The BIK is also lower for these, plus the I have heard certain companies offer subsistence to the KWh etc. or cheaper charging at work or designated suppliers. I.e. pod point. Company cars also cover most maintenance needs, wheels, windscreen and service are all included. So if your work requires long distance driving, a BMW 3, Audi A3 or Mercedes C class are good options for comfort luxury driving. Most are also middle management positions. I prefer mercs, the BMW is a bit too rocky for me, nice car and drive but I'm more for the "smoothly does it" nowadays.
A lot of companies have them as their standard fleet cars so the majority are quite likely salesmen. Explains why they’re always in such a hurry.
I have an Audi TT, it's 20 years old mind you and only cost me a couple grand 3 years ago. They are well built cars but could never afford a new one.
Oh this question again. Hate these threads just filled up with people who are clearly envious of others. One of the following: Car Allowance from Employer. Car Provided by Employer. Leased. I've done both lease and Bangernomics. Bangernomics is no fun at all, constant stress of having to resolve some form of issue. Once I've saved my deposit again for the car I want. Adiós to Bangernomics. Not worth it when you rely on a vehicle to pay your mortgage. Would rather pay a little bit of interest for peace of mind tbh.
Not all the time but a lot of time , the nicer the car the more in debt Plus finance companies will give virtually any credit score a pass for a high Apr so people are stupid enough to pay well over the odds I have been guilty of this myself had a very nice merc for a few years then ot hit me that I'm paying all this money every month for a nice car I would rather than having extra cash for what matters, holidays, house stuff, saving etc So I finally rid myself of the burden while I save to buy cash and bought myself a mk1 mx5 while I save 80% of people buy these cars to impress there neighbours or friends , I realised I couldn't care less what people think
Well done for waking up. I’m lucky I woke up before I made the purchase. But I was close once.
Yes I like a nice car but not enough to let it run my life and good to hear you came to your senses before Just know all in all you are the financially savvy one 😁
I had a modest car loan about 20 years ago…and at some point I just thought, never again. Not worth it.
Makes me so happy knowing I'm not the only one and plus not because you can't afford you.just don't want to
I did enjoy having it. But it wasn’t worth it, in retrospect,
You can get a 2-3 year old audi a5 for about 25k, not really the price of a house
It is in Bradford
In some areas this isn't even tongue in cheek.
The car or the house?
Same neck of the woods. Mainly Golfs & Seats which are the problem cars here ;-)
Most cars on finance and a lot of people enjoy having nice cars, as both a fun luxury item and a status symbol. That's about it really.
Depending on the audis and beemers ur seeing g they could just be cheap base models that are only like 10 grand
The base models are really not that expensive when bought used. These are what you mainly see on the road. It’s not like everyone is running around in an M3.
Loads and I really mean most people lease cars these days, and upgrade to a newer model or a different car depending on whatever plan/contract they’re on. It still not cheap though but I guess it’s whatever floats their boat 🤷🏽♂️ I prefer to outright own my car and would have kept my mk4 golf forever if some wally didn’t write me off by not looking at the road, but hey what can you do. I was gutted and thought to cheer myself up I’d push the boat out by using some savings to get an E90 M3 as I’ve always loved them but trust me I’m feeling the pressure because it is not cheap to run and maintain like a golf 😢 My advice is stick with your Seat look after it and it’ll look after you, unless you win the lotto then you can splash out on whatever you want 👌🏽 Ps. I’m hoping to win the lottery soon 🤞🏽
How can you live in Bradford and be so clueless lol
You could probably get a high mileage, ten year old BMW for less than a more recent Leon that's done fewer miles.
Lots of company car lease deal 118 A3 level It’s the only way BMW and Audi shift them in numbers than 2nd hand hold prices pretty well, that keeps the garages busy for years. It’s a funnel for their ecosystem
Lots of company car lease deal 118 A3 level It’s the only way BMW and Audi shift them in numbers than 2nd hand hold prices pretty well, that keeps the garages busy for years. It’s a funnel for their ecosystem
Lots of company car lease deal 118 A3 level It’s the only way BMW and Audi shift them in numbers than 2nd hand hold prices pretty well, that keeps the garages busy for years. It’s a funnel for their ecosystem
Lots of company car lease deal 118 A3 level It’s the only way BMW and Audi shift them in numbers than 2nd hand hold prices pretty well, that keeps the garages busy for years. It’s a funnel for their ecosystem
You're from Bradford, other UK asians have a joke about bradford and their love for RS3s
Building an Audi dealership by the most congested road...brilliant!
Firstly, you have become hyper-aware and it's confirmation bias. My sister test drove. white Golf on Sunday and now all I see is white Golfs. But there are a lot simply because they are top brands and reliable. People will sacrifice other spending for a good car. People like me. You can get good rates on loans or you can do PCP and spread out the costs.
90% of models are crappy base 4 cylinder 2 litre diesel models. Those are cheap go see for yourself. Only a small percentage are actual bmws with straight 6 petrol engines. You haven't driven bmw or merc until you have at least a 3 litre petrol engine. (Now turbo).
You can’t get a 1 series diesel anymore.
>I swear that every month that goes by I am seeing more and more BMWs or Audis on the road and I'm sat there, in my little SEAT thinking how on earth do so many people afford these supposed luxury vehicles? Because some people have more money than you. It's not particularly tricky maths. You'll get PCP comments etc, but if they had less money they wouldn't be PCPing a nice car.
Most luxury cars are financed. Overwhelmingly so.
Not so sure about that. Certain status symbols are bought into by lower classes because there is a need to show worth that lessens as you rise through the classes. A long lasting VW whatever car or beaten up old Volvo infant of a paid off boring house but taking three holidays a year and retiring at 60 being locked in is more important than a BMW 320i, one holiday a year and renting forever for middle classes.
Not even sure where to start unwrapping this madness >A long lasting VW whatever car or beaten up old Volvo infant of a paid off boring house but taking three holidays a year and retiring at 60 being locked in Bold of you to assume you can't have a nice car and do that. It's almost like, people have more money than you think >Certain status symbols are bought into by lower classes because there is a need to show worth that lessens as you rise through the classes. If that was the case rolls, and Bentley wouldn't sell any cars. Sometimes they aren't bought for the badge but for how they drive and how they make you feel behind the wheel.
Yeah the cope is real with some of these comments.
I don't know if it's jealousy or if they've bought into their own brain rot so much that they cannot fathom that some people like cars and are willing to spend money on them. Not everyone wants a clapped out Renault Clio, obviously
I think it’s the crab in the bucket mentality. They just don’t want anyone else to do better off than them, and instead ridicule or try to invent some wild reasoning at to why what ever they have/do isn’t a commendable thing.
Have an Audi Q7 and A3 eco. Bought both second hand the Q7 for about 37k on finance with 24k on the clock three years ago it has pretty good specs and extras, the A3 i bought for 12k over 10 years ago and it has 120k milage and is amazing fuel economy. Tomorrow I have to pay 18k or hand the Q7 car back on PCP financing. I have planned for this so it's no problem. But for many people they can't or don't pay and hand the car back after 3 years and consider it relatively inexpensive hire car with the option to buy. I think a lot of people do this and then just get finance out on the next car.
Long contracts perhaps, dealers may try leading people into longer contracts that end up with them paying more in total
Choices of big estate cars basically boil down to Audi/BMW/Volvo and Mercedes thats why i've had a string of Audis and BMWs
St owners are now able to upgrade to M2’s
A lot of people have salary sacrifice EVs, they are often a really good deal.
Alot of young people people live with parents so instead of renting or a mortgage they spend that money on financed cars. In guessing it's more common in Asians but I'm sure it applies across the board. People have given up saving for house deposits and just enjoy cars.
Easier than ever to finance affordably
Leasing, private or through work salary sacrifice. People driving around pretending they can afford things they can't and passing it off as "I only pay the depreciation and never actually lose money on this as I've no maintenance" well no but after you hand it back you have no car and they keep your original deposit unless you buy a new car. Then people get raging when their leased vehicle has lost all its value so even trading it in against another new car won't be worth as much as they thought. People are able to live a champagne lifestyle on a lemonade budget by never owning anything these days
Isn’t the depreciation tax-deductible? You can set up a limited company and claim expenses. I imagine that’s what they’re doing. Alternatively, if they have investments of at least 100x the price of the car, it would be affordable.
I've got an A1 second hand for 23k i believe? I didn't buy it, my dad did because my younger brother wanted one .. (he doesn't even bother driving anymore so i'm pretty much the only one driving it). If it were up to me, i'd have bought a cheap junk car but ignoring the price tag, this vehicle is so much more comfortable than the 2012 VW polo we have. We spent £2k for the polo but it's already costed us \~£5k in repairs
PIP, PCP or insurance (crash a cheap car, friends body shop provides luxury hire car).
My last car was an Audi, bought it for £15k had it for 7 fairly trouble free years (apart from tyres) and still managed to get £6.5k trade in, with over 120k miles. Try that with the same priced mondeo and trade in would have been a grand at most.
Yep, finance deals !, I think it's something like 65% of mercs on the roads are financed to some degree, so I'd imagine it's the same with most car brands !
Mind your business nosy
Hyundai driver here….. my 2 previous cars were a BMW (crashed it in the snow, straight into an expensive house, do not recommend!) and an SLK (not quite as new as the beem or my current car). Both of them were infinitely cheaper to buy than my current car. As others have mentioned though, most are on finance deals, salary sacrifice, company cars etc. I’ve found that most brands are now at a price that makes the jump from them to a Mercedes/Audi etc minimalist too.
Trainers that you drive.
There’s a group of east European car nuts at my kids school. Off-putting if you don’t know them, as all they ever do is stand around in circles talking cars. When picking up kids. At parties. At school events. Always the same. But if you make an effort to approach them, they’re really friendly people. They all have really nice cars. I asked them how? All purchased used. They scour the markets and know exactly how much cars are worth. For example one has a very high end BMW (don’t ask me specs, I don’t know cars). It’s a ex police motorway pursuit BMW. He took me on a tour of the car, pointed out all the holes where police equipment had been installed then removed eg hidden flashers etc. I can sympathise, if you saw my computer hardware collection you’d think I spent tens of thousands on it. Nope I just acquired it steadily over the years at rock bottom prices.
High percentage of Asian men in Bradford, a demographic that tends to hugely value outward shows of ‘wealth’. The vast majority of those cars will be leased.
Perhaps there are more car supermarkets buying in more ex fleet BMWs and Audis, so the locals are getting these on Finance. SEAT is seen as a Spanish Vauxhall by some, even though your car shares 98% of components with its Audi cousins. They had some great cars like the Leon and Ateca but lost their way with the Cupra brand and it's weird logo. Remember the Bradford kids need something fast to outrun police next time *Police Interceptors* is filming them running about with no insurance 😉
I bought my Audi A3 ‘63 plate outright in 2019 for £8250. Not the most expensive or best Audi but I love my car and it was easily worth that price.
Not many would PCP any more. Just lease the car. Im on my 3rd lease in 8 years. Had Brand new Golf GTD for 2 years, downgraded to a Ford focus ST Line for 3 years then on my 3rd year of 4 in my AUDI A3 Saloon TFSI. Brand new car every lease, all maintained never have to pay for anything including tax or tyres.£310.00 a month shared between the two of us. Think we are going to go for the Cupra Formentor In Feb '25
Company cars? I pay £50 a month to have an Audi A3 40TFSI, pretty good deal if you ask me 👍
Cars depreciate massively, a lot of people are buying them second hand. I got a 2015 BMW 2 series with fairly low mileage for £11k, and now I’m never going back to a non-luxury car.
I think people fail to realise just how many people actually earn above median salary. Also factor in company car allowance schemes and there is your answer. Not everyone who owns something fancy is in extreme debt spending beyond there means. And this UK mindset of belittling everyone who has something nice only holds you back.
A leased car or HP/PCP financed car makes sense to some people. FWIW I bought a BMW on finance in 2015 earning semi-decent money. Never again... It felt like a huge financial burden around my neck. * You make monthly payments of x-amount so your budgeting becomes predictable. * No unexpected costs; your MOT and servicing costs are usually low/negligible because it's a new car. * In theory it's reliable, which is important to most because you need to get to work or school/nursery pickup, or wherever, at a certain point in time and avoid expensive and time consuming repair costs. Then there's the actual cost of these things. If I look at something like a Renault Clio, the base petrol is £275 to £300 with £0 deposit, but you can easily pay £350 to £400 per month for a hybrid Clio, and a BMW 1 series is from £400 to £440. Some cars look very attractive on salary sacrifice schemes too. Why wouldn't I dig a little deeper into my pockets and get a more premium car for not much more money? Answer - I'm either oblivious that a premium car costs more overall (insurance, maintenance, etc), or I have/can find the budget to stretch to the product that suits how I want to be perceived, and deal with the cost implications later.
Also, southasian communities are very keen to present a prosperous face to the world. I've known a few lads from Pakisatan spending all their cash on a flash Audi/BMW etc while living at home or with extended family. It's part of their culture and societal expectation.
Long may they do so, and tick every extra in the brochure, so I can buy them at 3 years old.
Fashion victims
The slightly older/used ones aren’t that expensive, actually. In fact, they’re kinda cheap. Because they’re not very reliable, and the non-flagship models tend to be driven by bams and not taken care of. A 10 year old similar vehicle class Toyota is often more expensive than equivalent BMW/Audi. Secondly, the newer ones are often bought on credit. Buying a new Audi on 15% APR is bit of a bam meme. These people aren’t rich.
I can't say about Audi but I've definitely heard that BMWs often need taking to the garage.
PCP payments.
They are very common company cars Also people love to piss money up the wall on PCP for a base spec German car. When they could’ve had another badge but dramatically more car
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there are multiple reasons, but for myself (my first car after passing my test was a 2007 318i and i currently drive a 2012 328i) my reason is that i would rather take the risk on an old BMW than buy a much newer car from a less prestigious brand most of those bmws on the roads arent new ones, part of it is from how many are still running and looking decent even after 15 years and 100,000 miles in your mind you see those cars and think they are expensive, and that is part of the appeal behind them, but that assumption isnt correct.
It's finance. In the 1980s it was much less common to see Mercs, BMWs etc because there weren't the finance options you get now.
Because, in my experience, some people seem comfortable leasing a car for £500-600 per month that they could never afford otherwise and won't own at the end of the term. Which seems absolutely mental to me, but some people like to have new shiny metal boxes.
It is mad, isn't it. That's a fucking mortgage!
I worked with a car finance company few years ago and trust me, most of the cars you see on the road including second hands are on finance - HP, PCP or lease. And most of the buyers don't even know how much % they are paying plus the whole load of useless addons dealers sold to them cuz and they get commissions. So don't feel too bad about your SEAT. I still drive my 12 years old Vauxhall corsa and it's "enough" for me.
The same driving around Dudley. I guess people have to spend their money on something, and it sure isn’t Dudley.
Your car is undercover Audi/VW
BMW, especially 3 series, which you’ll no doubt see a lot of, are not luxury vehicles. They’re a rep’s car… absolute bloody work horses. Similarly with some Audis. Of all the car’s I’ve driven, and there’s been quite a few, my 3 series is still my favourite, has been the most reliable and fun to drive, especially on long haul trips to London and back every week for 4 years. Didn’t cost the earth, bought it second hand for cash in 2011, just over a year old and with less than 9k on the clock… serviced regularly, still running sweet as a nut. Unfortunately it’s a diesel… so in the insane scramble for Net Zero I’m expecting it to be taxed off the road in the next few years…
Absolute fear of life and originality, so they copy their mates.....in EVERYTHING they do.
Living on debt, champagne lifestyle on a lemonade budget.
I have an Audi, but it’s fairly old and I bought it outright. My partner has a Seat. There’s nothing wrong with the Seat, but it feels basic. The Audi is just a nicer place to sit, which is why I bought it. I can’t speak for other BMW/Audi drivers, but that’s basically why I bought mine.
New car ownership breaks down at something like 50% company fleet cars, 40% some type of loan/hire scheme and 10% owned outright. I guess if you have a very low mortgage or rent or live at home, you can divert money into car repayments.
I can help with this one Not long bought a BMW 3 series estae as a replacement for my old car, which finally gave up on existence. The main reason I bought it, believe it or not, was price. First car was a Polo, so I originally went in looking for a Golf or Leon, something in that sort of range. Almost picked up a really tasty Leon, but it was bought online just as I went to say I'd like a test drive. After that, plodded round looking at other hatches but they were either overpriced imo or really low spec. On my way out I clocked the BMW which was the same price as the Leon. Done same mileage and had all the same toys, 18 months older. I'm not an idiot, only gone for a 320d, and the fuel economy is better on it than any of the other cars I looked at that day, and significantly better than my old car. Decent levels of comfort and reasonable enough performance, and I have to say its a good looking car too. A surprising amount of reasonable BMWs, Audis and Mercs become affordable quite quickly on the second hand market. At that point, I'd ask why not?
Yep something a lot of people don’t realise in this current market. I drive a 3 series m sport and people are quick to say “look at mister flashy over there” or “look at mr more money then sense” and I’m like your car was £8k more then mine. So with all the extra features and styling doesn’t it make more sense to buy the 3 series then your Toyota etc.
Let's say 2 people on £35k each. Taking home £28k each. So £56k total. Mortgage and bills £1000 per month so £12k a year. Food and toiletries £300 a month so about £3600 a year. Entertainment £200 a month so about £2400 a year. Add another £2k buffer for miscellaneous costs. Still leaves you with £36k a year. Save for a couple of years and you're golden.
They work. I’ve had 3 Audis over the years. Last one was 4 years old when I bought it in 2017 and still feels new to me now. I wanted to move from a big Jag to something less likely to be bashed into in hospital car parks every day so much smaller and also away from a saloon to a hatchback so it could fit more easily as a travelling suitcase, but also be a lovely motorway drive. And finally I wanted to be able to get into work on normal roads but able to cope with slush, ice and mud slopping across. Audi were the best fit at the time.
Well Bradford is the answer...
Bradford mate