A caller just phoned into Radio 4's BREXIT EXPERT to 'ask' in the smug tone of a Brexiteer if it's true that we pay into the EU £14 billion a year?
'Yes' said the expert 'but when you take out rebates to farmers etc it amounts to £9 billion and that can be reduced by a further billi.....'
'Yes but it is true so if we left we'd be much better off than we are now wouldn't we?'
'....but if the Treasury forcast is correct that in twenty five years we'll be 3% worse off than we would have been then the annual cost to us will be £87 billion....'
The Brexit Expert is a moron then. The £14 billion a year is tax money raised by the Government and paid to the EU. It is actual money. The GDP is a nominal number for the value of the economy overall which it is utterly impossible to predict 25 years out. It is fractions of a percentage difference each year - about the same amount as the rounding errors we currently use.
It measures debt held by national banks vs income in those countries.
Sensible enough?
No. Because it means that if a Norwegian bank lends to a German, it gets added to the Norwegian debt to income number, rather than the German.
The consequence of this is that a few very international banks in small countries, like SEB in Sweden and Nordbank in Norway, completely distort the figures.
(That being said, Denmark has a scary mortgage debt problem.)
So basically take away those countries likely to be lending into larger economies adjacent, and the Uk is right at the upper end. Although Australia appears to have a big problem?
They have extremely low public debt though - less than 20% of GDP (and even that's a steep rise from the Howard years where for a time they had net credit).
There are a lot of skint people out there living beyond their means.
I have often pondered assembling a photo album of small, terraced houses with huge eff off range rovers parked outside them. Would be a large album.
The desire to feel ourselves better than other people is universal. Some achieve it by buying flash motors they can't afford. Others achieve it by looking down their noses at people who buy flash motors they can't afford. And the third and most exclusive group prefers to stand aside and shake their heads wryly at the behaviour of both of the first two groups.
I am in a 4th group, chuckling quietly at the antics of the first three.
It measures debt held by national banks vs income in those countries.
Sensible enough?
No. Because it means that if a Norwegian bank lends to a German, it gets added to the Norwegian debt to income number, rather than the German.
The consequence of this is that a few very international banks in small countries, like SEB in Sweden and Nordbank in Norway, completely distort the figures.
(That being said, Denmark has a scary mortgage debt problem.)
So basically take away those countries likely to be lending into larger economies adjacent, and the Uk is right at the upper end. Although Australia appears to have a big problem?
They have extremely low public debt though - less than 20% of GDP (and even that's a steep rise from the Howard years where for a time they had net credit).
There are a lot of skint people out there living beyond their means.
I have often pondered assembling a photo album of small, terraced houses with huge eff off range rovers parked outside them. Would be a large album.
The desire to feel ourselves better than other people is universal. Some achieve it by buying flash motors they can't afford. Others achieve it by looking down their noses at people who buy flash motors they can't afford. And the third and most exclusive group prefers to stand aside and shake their heads wryly at the behaviour of both of the first two groups.
Equally it's almost as cheap to rent / lease a BMW or Range Rover monthly than the equivalent Ford / Vauxhall. And which one will make you feel better..
And renting is cheaper than outright purchase. My 3 year old car is costing me £300 a month, for that I could have a new one. The difference is that I will own it in 3 years while the new one would have been rented.
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
It measures debt held by national banks vs income in those countries.
Sensible enough?
No. Because it means that if a Norwegian bank lends to a German, it gets added to the Norwegian debt to income number, rather than the German.
The consequence of this is that a few very international banks in small countries, like SEB in Sweden and Nordbank in Norway, completely distort the figures.
(That being said, Denmark has a scary mortgage debt problem.)
So basically take away those countries likely to be lending into larger economies adjacent, and the Uk is right at the upper end. Although Australia appears to have a big problem?
They have extremely low public debt though - less than 20% of GDP (and even that's a steep rise from the Howard years where for a time they had net credit).
There are a lot of skint people out there living beyond their means.
I have often pondered assembling a photo album of small, terraced houses with huge eff off range rovers parked outside them. Would be a large album.
The desire to feel ourselves better than other people is universal. Some achieve it by buying flash motors they can't afford. Others achieve it by looking down their noses at people who buy flash motors they can't afford. And the third and most exclusive group prefers to stand aside and shake their heads wryly at the behaviour of both of the first two groups.
There is a fourth group, of course. The group that believes it has the over-archingly correct view on any discussion between people on any given subject. Or the arrogant gits, as they are better known.
It measures debt held by national banks vs income in those countries.
Sensible enough?
No. Because it means that if a Norwegian bank lends to a German, it gets added to the Norwegian debt to income number, rather than the German.
The consequence of this is that a few very international banks in small countries, like SEB in Sweden and Nordbank in Norway, completely distort the figures.
(That being said, Denmark has a scary mortgage debt problem.)
So basically take away those countries likely to be lending into larger economies adjacent, and the Uk is right at the upper end. Although Australia appears to have a big problem?
They have extremely low public debt though - less than 20% of GDP (and even that's a steep rise from the Howard years where for a time they had net credit).
There are a lot of skint people out there living beyond their means.
I have often pondered assembling a photo album of small, terraced houses with huge eff off range rovers parked outside them. Would be a large album.
The desire to feel ourselves better than other people is universal. Some achieve it by buying flash motors they can't afford. Others achieve it by looking down their noses at people who buy flash motors they can't afford. And the third and most exclusive group prefers to stand aside and shake their heads wryly at the behaviour of both of the first two groups.
There is a fourth group, of course. The group that believes it has the over-archingly correct view on any discussion between people on any given subject. Or the arrogant gits, as they are better known.
They are indeed a select group, although they all seem to post here.
So basically take away those countries likely to be lending into larger economies adjacent, and the Uk is right at the upper end. Although Australia appears to have a big problem?
They have extremely low public debt though - less than 20% of GDP (and even that's a steep rise from the Howard years where for a time they had net credit).
There are a lot of skint people out there living beyond their means.
I have often pondered assembling a photo album of small, terraced houses with huge eff off range rovers parked outside them. Would be a large album.
Wouldn't half of it be of Chelsea ?
Well yes, there are a lot of £3m terraced houses in Chelsea, but I'm talking provincial towns, outer London suburbs, etc. There are plenty of small, say ex-council low value terraced houses in these places with huge shiny new 68 reg cars parked outside them. Once you notice it, you can't not notice it.
Can't such a house cost £500k in some of London's outer suburbs ?
If so then the car wouldn't be proportionally expensive.
The only way I'd say that would happen in the North is among some tightly knit Asian communities who remain in the same few streets but for whom a flash car would be a status symbol.
I'm not going to scour the country a la googlemaps illustrating what I mean. Suffice to say there are plenty of flash new cars outside modest homes where the disconnect is marked. Take a look next time you're out and about.
Well I might do but I really think you should give a daily report.
A caller just phoned into Radio 4's BREXIT EXPERT to 'ask' in the smug tone of a Brexiteer if it's true that we pay into the EU £14 billion a year?
'Yes' said the expert 'but when you take out rebates to farmers etc it amounts to £9 billion and that can be reduced by a further billi.....'
'Yes but it is true so if we left we'd be much better off than we are now wouldn't we?'
'....but if the Treasury forcast is correct that in twenty five years we'll be 3% worse off than we would have been then the annual cost to us will be £87 billion....'
As the Treasury was unable to forecast competently what would happen three months after a Leave vote why should anyone pay any attention to a twenty five year forecast ?
Since leavers were unable to forecast competently the chaos we've had since the referendum, why should anyone pay them any attention?
So basically take away those countries likely to be lending into larger economies adjacent, and the Uk is right at the upper end. Although Australia appears to have a big problem?
They have extremely low public debt though - less than 20% of GDP (and even that's a steep rise from the Howard years where for a time they had net credit).
There are a lot of skint people out there living beyond their means.
I have often pondered assembling a photo album of small, terraced houses with huge eff off range rovers parked outside them. Would be a large album.
Wouldn't half of it be of Chelsea ?
Well yes, there are a lot of £3m terraced houses in Chelsea, but I'm talking provincial towns, outer London suburbs, etc. There are plenty of small, say ex-council low value terraced houses in these places with huge shiny new 68 reg cars parked outside them. Once you notice it, you can't not notice it.
Can't such a house cost £500k in some of London's outer suburbs ?
If so then the car wouldn't be proportionally expensive.
The only way I'd say that would happen in the North is among some tightly knit Asian communities who remain in the same few streets but for whom a flash car would be a status symbol.
I'm not going to scour the country a la googlemaps illustrating what I mean. Suffice to say there are plenty of flash new cars outside modest homes where the disconnect is marked. Take a look next time you're out and about.
Well I might do but I really think you should give a daily report.
A caller just phoned into Radio 4's BREXIT EXPERT to 'ask' in the smug tone of a Brexiteer if it's true that we pay into the EU £14 billion a year?
'Yes' said the expert 'but when you take out rebates to farmers etc it amounts to £9 billion and that can be reduced by a further billi.....'
'Yes but it is true so if we left we'd be much better off than we are now wouldn't we?'
'....but if the Treasury forcast is correct that in twenty five years we'll be 3% worse off than we would have been then the annual cost to us will be £87 billion....'
The Brexit Expert is a moron then. The £14 billion a year is tax money raised by the Government and paid to the EU. It is actual money. The GDP is a nominal number for the value of the economy overall which it is utterly impossible to predict 25 years out. It is fractions of a percentage difference each year - about the same amount as the rounding errors we currently use.
The Treasury can't accurately forecast 25 weeks ahead never mind 25 years. It's total bollocks.
A caller just phoned into Radio 4's BREXIT EXPERT to 'ask' in the smug tone of a Brexiteer if it's true that we pay into the EU £14 billion a year?
'Yes' said the expert 'but when you take out rebates to farmers etc it amounts to £9 billion and that can be reduced by a further billi.....'
'Yes but it is true so if we left we'd be much better off than we are now wouldn't we?'
'....but if the Treasury forcast is correct that in twenty five years we'll be 3% worse off than we would have been then the annual cost to us will be £87 billion....'
As the Treasury was unable to forecast competently what would happen three months after a Leave vote why should anyone pay any attention to a twenty five year forecast ?
Since leavers were unable to forecast competently the chaos we've had since the referendum, why should anyone pay them any attention?
I think you mean political chaos - normal people just carry on as they did before. And I'm not surprised in the least that we are where we are.
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
Well I have done what you're always told is stupid and bought a brand new car, kept it for five to eight years (although my current is entering its ninth) while saving up to trade it in for the next one. Over the piece I don't think this is hugely disadvantageous; yes there's massive up-front depreciation, but then depreciation is built into the cost of PCP in any case.
The real nonsense is pretending that I might be interested in a finance deal just to get the best deal on the new car. The last thing they seem to want is a cash buyer.
A caller just phoned into Radio 4's BREXIT EXPERT to 'ask' in the smug tone of a Brexiteer if it's true that we pay into the EU £14 billion a year?
'Yes' said the expert 'but when you take out rebates to farmers etc it amounts to £9 billion and that can be reduced by a further billi.....'
'Yes but it is true so if we left we'd be much better off than we are now wouldn't we?'
'....but if the Treasury forcast is correct that in twenty five years we'll be 3% worse off than we would have been then the annual cost to us will be £87 billion....'
As the Treasury was unable to forecast competently what would happen three months after a Leave vote why should anyone pay any attention to a twenty five year forecast ?
Just supposing they're right think of what you could do with £87 billion a year....
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
It makes sense the most sense at low annual mileages. Mrs DA's car lease is about 700 quid a month including servicing which makes it compellingly cheap but every mile over 8,000 she does in a year is about 90p...
A caller just phoned into Radio 4's BREXIT EXPERT to 'ask' in the smug tone of a Brexiteer if it's true that we pay into the EU £14 billion a year?
'Yes' said the expert 'but when you take out rebates to farmers etc it amounts to £9 billion and that can be reduced by a further billi.....'
'Yes but it is true so if we left we'd be much better off than we are now wouldn't we?'
'....but if the Treasury forcast is correct that in twenty five years we'll be 3% worse off than we would have been then the annual cost to us will be £87 billion....'
As the Treasury was unable to forecast competently what would happen three months after a Leave vote why should anyone pay any attention to a twenty five year forecast ?
Since leavers were unable to forecast competently the chaos we've had since the referendum, why should anyone pay them any attention?
I think you mean political chaos - normal people just carry on as they did before. And I'm not surprised in the least that we are where we are.
Because businesses large and small are simply planning to carry on as they did before?
A caller just phoned into Radio 4's BREXIT EXPERT to 'ask' in the smug tone of a Brexiteer if it's true that we pay into the EU £14 billion a year?
'Yes' said the expert 'but when you take out rebates to farmers etc it amounts to £9 billion and that can be reduced by a further billi.....'
'Yes but it is true so if we left we'd be much better off than we are now wouldn't we?'
'....but if the Treasury forcast is correct that in twenty five years we'll be 3% worse off than we would have been then the annual cost to us will be £87 billion....'
As the Treasury was unable to forecast competently what would happen three months after a Leave vote why should anyone pay any attention to a twenty five year forecast ?
Since leavers were unable to forecast competently the chaos we've had since the referendum, why should anyone pay them any attention?
We might have political chaos but we haven't had economic chaos.
But if they're making twenty-five year forecasts then you shouldn't.
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
It makes sense the most sense at low annual mileages. Mrs DA's car lease is about 700 quid a month including servicing which makes it compellingly cheap but every mile over 8,000 she does in a year is about 90p...
Going back to the high level of borrowing in Denmark, you can get a 30 year mortgage at a fixed interest rate of 1.5%. No wonder people borrow as much as they can in a world where they expect inflation to be at least that amount.
A caller just phoned into Radio 4's BREXIT EXPERT to 'ask' in the smug tone of a Brexiteer if it's true that we pay into the EU £14 billion a year?
'Yes' said the expert 'but when you take out rebates to farmers etc it amounts to £9 billion and that can be reduced by a further billi.....'
'Yes but it is true so if we left we'd be much better off than we are now wouldn't we?'
'....but if the Treasury forcast is correct that in twenty five years we'll be 3% worse off than we would have been then the annual cost to us will be £87 billion....'
As the Treasury was unable to forecast competently what would happen three months after a Leave vote why should anyone pay any attention to a twenty five year forecast ?
Since leavers were unable to forecast competently the chaos we've had since the referendum, why should anyone pay them any attention?
I think you mean political chaos - normal people just carry on as they did before. And I'm not surprised in the least that we are where we are.
Can you show me a post pre-referendum where you predicted it?
And if so, can you tell us where we're heading... ?
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
It makes sense the most sense at low annual mileages. Mrs DA's car lease is about 700 quid a month including servicing which makes it compellingly cheap but every mile over 8,000 she does in a year is about 90p...
Yes I'd heard they are pretty strict on mileage.
The deals give the illusion that the car is yours, when in reality it isn't.
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
It makes sense the most sense at low annual mileages. Mrs DA's car lease is about 700 quid a month including servicing which makes it compellingly cheap but every mile over 8,000 she does in a year is about 90p...
Yes I'd heard they are pretty strict on mileage.
The deals give the illusion that the car is yours, when in reality it isn't.
This is why any rebalancing, improvement of the savings rate, etc has to be handled so carefully, if at all. The affordability delta on the APR is shocking.
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I had to run it twice to work out what bark parking is.
A caller just phoned into Radio 4's BREXIT EXPERT to 'ask' in the smug tone of a Brexiteer if it's true that we pay into the EU £14 billion a year?
'Yes' said the expert 'but when you take out rebates to farmers etc it amounts to £9 billion and that can be reduced by a further billi.....'
'Yes but it is true so if we left we'd be much better off than we are now wouldn't we?'
'....but if the Treasury forcast is correct that in twenty five years we'll be 3% worse off than we would have been then the annual cost to us will be £87 billion....'
As the Treasury was unable to forecast competently what would happen three months after a Leave vote why should anyone pay any attention to a twenty five year forecast ?
Since leavers were unable to forecast competently the chaos we've had since the referendum, why should anyone pay them any attention?
I think you mean political chaos - normal people just carry on as they did before. And I'm not surprised in the least that we are where we are.
Can you show me a post pre-referendum where you predicted it?
And if so, can you tell us where we're heading... ?
I didn't make any prediction - and haven't bet on it. My dad predicted the morning after the result that we'd leave on WTO. He's now starting to think that we might not leave at all, but to be fair to him, to get to WTO, I think it did mean going the route we've gone. So whilst he didn't predict all the nonsense in parliament of the last few months, he kind of did without realising it.
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I had to run it twice to work out what bark parking is.
Foreigners, eh? And it was her first language.
Let me know if you need to turn on the subtitles for this:
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
Okay. Rough numbers.
Say you've got 10k in cash and would like to buy a car. (I'll use simple interest rather then compound interest to make life easier)
Option 1 New car lease. Car Value 35k Deposit 10k Finance 15k Term 3 Years Interest Rate 3% Interest 2,318
Deposit 10,000 Monthly Payment x36 300 Final Payment 16,000 Mileage limit applies, as the dealer needs to make sure the car is worth at least 16k if you choose to hand it back. Expect a fine if car has more than say 27,000 miles on it. More likely it's actually worth 25k so you've got 9k deposit for the next lease...
Option 2 2nd Hand Car Loan Car Value 25k (maybe it is the same car as above, was 35k new but now it's three years old). You may wish to also budget for extended manufacturer's warranty if available. Deposit 10k Finance 15k Term 5 Years. Interest Rate 5% (not as good as the lease interest rate) Interest 3,900
Deposit 10,000 Monthly Payment x36 525 Final Payment 0 (Alternatively you can get the payment down to c. 320 by making the loan over 5 years, paying 4,150 in interest)
Option 3 No Loan Spend 10k on a car. If you want a 35k car it's probably 10 years old now, so make sure you budget a little for maintenance.
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
It makes sense the most sense at low annual mileages. Mrs DA's car lease is about 700 quid a month including servicing which makes it compellingly cheap but every mile over 8,000 she does in a year is about 90p...
Yes I'd heard they are pretty strict on mileage.
The deals give the illusion that the car is yours, when in reality it isn't.
This is why any rebalancing, improvement of the savings rate, etc has to be handled so carefully, if at all. The affordability delta on the APR is shocking.
Our car (large saloon) costs us £60 per month in depreciation. No mileage restrictions, no worries when it gets dented, does 40 mpg. Nothing significant has gone wrong with it over the last few years. Very comfortable. Costs about £100 per year to service.
It wouldn't make sense to change it to a £300 / month car on PCP, plus strings attached, with a load of unnecessary tech that can just go wrong. If the current car dies, then I would borrow about £8k on a low interest loan, and buy a newer version of our existing car, the monthly repayments would be about £130, after 5 years the car would be owned outright.
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
Okay. Rough numbers.
Say you've got 10k in cash and would like to buy a car. (I'll use simple interest rather then compound interest to make life easier)
Option 1 New car lease. Car Value 35k Deposit 10k Finance 15k Term 3 Years Interest Rate 3% Interest 2,318
Deposit 10,000 Monthly Payment x36 300 Final Payment 16,000 Mileage limit applies, as the dealer needs to make sure the car is worth at least 16k if you choose to hand it back. Expect a fine if car has more than say 27,000 miles on it. More likely it's actually worth 25k so you've got 9k deposit for the next lease...
Option 2 2nd Hand Car Loan Car Value 25k (maybe it is the same car as above, was 35k new but now it's three years old). You may wish to also budget for extended manufacturer's warranty if available. Deposit 10k Finance 15k Term 5 Years. Interest Rate 5% (not as good as the lease interest rate) Interest 3,900
Deposit 10,000 Monthly Payment x36 525 Final Payment 0 (Alternatively you can get the payment down to c. 320 by making the loan over 5 years, paying 4,150 in interest)
Option 3 No Loan Spend 10k on a car. If you want a 35k car it's probably 10 years old now, so make sure you budget a little for maintenance.
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
Very interesting. The clip I eg. posted for @Ishmael_Z was posted on my timeline by a Nigerian friend. I'd never heard of him before that and I thought it was quite funny.
But more interesting is your comment "says a lot about you.."
I think Michael Jackson's songs are great. I love Picasso's works and those of Eric Gill also. I think The Usual Suspects is a great film.
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
Okay. Rough numbers.
Say you've got 10k in cash and would like to buy a car. (I'll use simple interest rather then compound interest to make life easier)
Option 1 New car lease. Car Value 35k Deposit 10k Finance 15k Term 3 Years Interest Rate 3% Interest 2,318
Deposit 10,000 Monthly Payment x36 300 Final Payment 16,000 Mileage limit applies, as the dealer needs to make sure the car is worth at least 16k if you choose to hand it back. Expect a fine if car has more than say 27,000 miles on it. More likely it's actually worth 25k so you've got 9k deposit for the next lease...
Option 2 2nd Hand Car Loan Car Value 25k (maybe it is the same car as above, was 35k new but now it's three years old). You may wish to also budget for extended manufacturer's warranty if available. Deposit 10k Finance 15k Term 5 Years. Interest Rate 5% (not as good as the lease interest rate) Interest 3,900
Deposit 10,000 Monthly Payment x36 525 Final Payment 0 (Alternatively you can get the payment down to c. 320 by making the loan over 5 years, paying 4,150 in interest)
Option 3 No Loan Spend 10k on a car. If you want a 35k car it's probably 10 years old now, so make sure you budget a little for maintenance.
It's worth building depreciation into your calculation. You'd have to be fucked in the head to pay cash for something with cataclysmic residuals like a BMW 7 Series (or your favourite McLaren) but leasing one protects, to an extent, from that.
My philosophy is too pay cash for cars with blown engines and get them for extraordinarily small amounts of money. I then spend years and three to five times their value repairing and modifying them. I commend this course of action to nobody.
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
Oh come on. I am going to have to defend Topping to the hilt here. You don't have to like everything about someone or know and agree with every detail of their lives or their politics to find them funny. One of the big problems today is people judge art, comedy and other cultural stuff based on things that have nothing to do with the skill or value of the piece of work.
To my mind perhaps the finest comedian of the last 20 years is Eddie Izzard. Clearly I disagree with his about his views on the EU and politics in general but he makes me laugh harder and longer than almost any comedian ever.
Comedy is a deeply personal thing and it is pretty idiotic to criticise or judge people for liking one comedian over another.
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
Okay. Rough numbers.
Say you've got 10k in cash and would like to buy a car. (I'll use simple interest rather then compound interest to make life easier)
Option 1 New car lease. Car Value 35k Deposit 10k Finance 15k Term 3 Years Interest Rate 3% Interest 2,318
Deposit 10,000 Monthly Payment x36 300 Final Payment 16,000 Mileage limit applies, as the dealer needs to make sure the car is worth at least 16k if you choose to hand it back. Expect a fine if car has more than say 27,000 miles on it. More likely it's actually worth 25k so you've got 9k deposit for the next lease...
Option 2 2nd Hand Car Loan Car Value 25k (maybe it is the same car as above, was 35k new but now it's three years old). You may wish to also budget for extended manufacturer's warranty if available. Deposit 10k Finance 15k Term 5 Years. Interest Rate 5% (not as good as the lease interest rate) Interest 3,900
Deposit 10,000 Monthly Payment x36 525 Final Payment 0 (Alternatively you can get the payment down to c. 320 by making the loan over 5 years, paying 4,150 in interest)
Option 3 No Loan Spend 10k on a car. If you want a 35k car it's probably 10 years old now, so make sure you budget a little for maintenance.
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
Oh come on. I am going to have to defend Topping to the hilt here. You don't have to like everything about someone or know and agree with every detail of their lives or their politics to find them funny. One of the big problems today is people judge art, comedy and other cultural stuff based on things that have nothing to do with the skill or value of the piece of work.
To my mind perhaps the finest comedian of the last 20 years is Eddie Izzard. Clearly I disagree with his about his views on the EU and politics in general but he makes me laugh harder and longer than almost any comedian ever.
Comedy is a deeply personal thing and it is pretty idiotic to criticise or judge people for liking one comedian over another.
I just googled Stephen k Amos and, on first glance, can't work out what he's supposed to have done. He's gay as I discover, but apart from that absolutely no idea.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
Okay. Rough numbers.
Say you've got 10k in cash and would like to buy a car. (I'll use simple interest rather then compound interest to make life easier)
Option 1 New car lease. Car Value 35k Deposit 10k Finance 15k Term 3 Years Interest Rate 3% Interest 2,318
Deposit 10,000 Monthly Payment x36 300 Final Payment 16,000 Mileage limit applies, as the dealer needs to make sure the car is worth at least 16k if you choose to hand it back. Expect a fine if car has more than say 27,000 miles on it. More likely it's actually worth 25k so you've got 9k deposit for the next lease...
Option 2 2nd Hand Car Loan Car Value 25k (maybe it is the same car as above, was 35k new but now it's three years old). You may wish to also budget for extended manufacturer's warranty if available. Deposit 10k Finance 15k Term 5 Years. Interest Rate 5% (not as good as the lease interest rate) Interest 3,900
Deposit 10,000 Monthly Payment x36 525 Final Payment 0 (Alternatively you can get the payment down to c. 320 by making the loan over 5 years, paying 4,150 in interest)
Option 3 No Loan Spend 10k on a car. If you want a 35k car it's probably 10 years old now, so make sure you budget a little for maintenance.
A couple of other points:
1. When handing in the lease car at the end of the three years, you'd better hope it's not got any car park rash or scuffed bumpers, no kids have been sick in the back or adventurous with the crayons - beacuse you'll be putting your hand in your pocket for fixing any damage that's not considered fair wear and tear.
2. Mr @eek makes the point that 'premium' brands suffer from less initial depreciation (therefore higher residual values) than 'standard' brands. So the lease 'monthlies' on a 35k BMW 3-series can be almost the same as on a 25k Ford Mondeo. If the 3yo 35k car is worth 25k, and the 3yo 25k car is worth 15k, then the monthly difference is 1/36 of the 3 year interest on 10k, or about 30-40 quid a month
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
Okay. Rough numbers.
Say you've got 10k in cash and would like to buy a car. (I'll use simple interest rather then compound interest to make life easier)
Option 1 New car lease. Car Value 35k Deposit 10k Finance 15k Term 3 Years Interest Rate 3% Interest 2,318
Deposit 10,000 Monthly Payment x36 300 Final Payment 16,000 Mileage limit applies, as the dealer needs to make sure the car is worth at least 16k if you choose to hand it back. Expect a fine if car has more than say 27,000 miles on it. More likely it's actually worth 25k so you've got 9k deposit for the next lease...
Option 2 2nd Hand Car Loan Car Value 25k (maybe it is the same car as above, was 35k new but now it's three years old). You may wish to also budget for extended manufacturer's warranty if available. Deposit 10k Finance 15k Term 5 Years. Interest Rate 5% (not as good as the lease interest rate) Interest 3,900
Deposit 10,000 Monthly Payment x36 525 Final Payment 0 (Alternatively you can get the payment down to c. 320 by making the loan over 5 years, paying 4,150 in interest)
Option 3 No Loan Spend 10k on a car. If you want a 35k car it's probably 10 years old now, so make sure you budget a little for maintenance.
v interesting thanks.
Would a car new at £35k ever hold £25k value after three years?
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
Very interesting. The clip I eg. posted for @Ishmael_Z was posted on my timeline by a Nigerian friend. I'd never heard of him before that and I thought it was quite funny.
But more interesting is your comment "says a lot about you.."
I think Michael Jackson's songs are great. I love Picasso's works and those of Eric Gill also. I think The Usual Suspects is a great film.
What* does* that say about me?
That you have awful taste in music and comedy. And politics - but everyone knew that already!
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
Very interesting. The clip I eg. posted for @Ishmael_Z was posted on my timeline by a Nigerian friend. I'd never heard of him before that and I thought it was quite funny.
But more interesting is your comment "says a lot about you.."
I think Michael Jackson's songs are great. I love Picasso's works and those of Eric Gill also. I think The Usual Suspects is a great film.
What* does* that say about me?
That you have awful taste in music and comedy. And politics - but everyone knew that already!
LOL! Fair enough.
So was the Amos comment about his quality? The way you said it it sounded as though he had done something egregious: "given his murky past". What is his murky past?
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
Very interesting. The clip I eg. posted for @Ishmael_Z was posted on my timeline by a Nigerian friend. I'd never heard of him before that and I thought it was quite funny.
But more interesting is your comment "says a lot about you.."
I think Michael Jackson's songs are great. I love Picasso's works and those of Eric Gill also. I think The Usual Suspects is a great film.
What* does* that say about me?
That you have awful taste in music and comedy. And politics - but everyone knew that already!
Care to offer your tastes in music and comedy so 'everyone' can judge? Would be interested to hear your opinions on painting and sculpture also.
Say you've got 10k in cash and would like to buy a car. (I'll use simple interest rather then compound interest to make life easier)
Option 1 New car lease. Car Value 35k Deposit 10k Finance 15k Term 3 Years Interest Rate 3% Interest 2,318
Deposit 10,000 Monthly Payment x36 300 Final Payment 16,000 Mileage limit applies, as the dealer needs to make sure the car is worth at least 16k if you choose to hand it back. Expect a fine if car has more than say 27,000 miles on it. More likely it's actually worth 25k so you've got 9k deposit for the next lease...
Option 2 2nd Hand Car Loan Car Value 25k (maybe it is the same car as above, was 35k new but now it's three years old). You may wish to also budget for extended manufacturer's warranty if available. Deposit 10k Finance 15k Term 5 Years. Interest Rate 5% (not as good as the lease interest rate) Interest 3,900
Deposit 10,000 Monthly Payment x36 525 Final Payment 0 (Alternatively you can get the payment down to c. 320 by making the loan over 5 years, paying 4,150 in interest)
Option 3 No Loan Spend 10k on a car. If you want a 35k car it's probably 10 years old now, so make sure you budget a little for maintenance.
It's worth building depreciation into your calculation. You'd have to be fucked in the head to pay cash for something with cataclysmic residuals like a BMW 7 Series (or your favourite McLaren) but leasing one protects, to an extent, from that.
My philosophy is too pay cash for cars with blown engines and get them for extraordinarily small amounts of money. I then spend years and three to five times their value repairing and modifying them. I commend this course of action to nobody.
I like your style, but most others wouldn't. You need space to store a few cars and be handy with a spanner. It's also great fun, and often involves spending time with friends and children, on which you can't put a value.
Also people need to remember that the cost of maintaining a car is proportional to the cost it was when it was new, not the cost it is now. Cheap second-hand sports or luxury cars can be absolute money pits. If buying a used (but not total shed) luxury car make sure it's got a warranty on it, as they're full of very expensive bits that can go wrong!
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
Oh come on. I am going to have to defend Topping to the hilt here. You don't have to like everything about someone or know and agree with every detail of their lives or their politics to find them funny. One of the big problems today is people judge art, comedy and other cultural stuff based on things that have nothing to do with the skill or value of the piece of work.
To my mind perhaps the finest comedian of the last 20 years is Eddie Izzard. Clearly I disagree with his about his views on the EU and politics in general but he makes me laugh harder and longer than almost any comedian ever.
Comedy is a deeply personal thing and it is pretty idiotic to criticise or judge people for liking one comedian over another.
I just googled Stephen k Amos and, on first glance, can't work out what he's supposed to have done. He's gay as I discover, but apart from that absolutely no idea.
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
Very interesting. The clip I eg. posted for @Ishmael_Z was posted on my timeline by a Nigerian friend. I'd never heard of him before that and I thought it was quite funny.
But more interesting is your comment "says a lot about you.."
I think Michael Jackson's songs are great. I love Picasso's works and those of Eric Gill also. I think The Usual Suspects is a great film.
What* does* that say about me?
you have lots of more interesting things you could be doing than posting about Brexit
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
Okay. Rough numbers.
Say you've got 10k in cash and would like to buy a car. (I'll use simple interest rather then compound interest to make life easier)
Option 1 New car lease. Car Value 35k Deposit 10k Finance 15k Term 3 Years Interest Rate 3% Interest 2,318
Deposit 10,000 Monthly Payment x36 300 Final Payment 16,000 Mileage limit applies, as the dealer needs to make sure the car is worth at least 16k if you choose to hand it back. Expect a fine if car has more than say 27,000 miles on it. More likely it's actually worth 25k so you've got 9k deposit for the next lease...
Option 2 2nd Hand Car Loan Car Value 25k (maybe it is the same car as above, was 35k new but now it's three years old). You may wish to also budget for extended manufacturer's warranty if available. Deposit 10k Finance 15k Term 5 Years. Interest Rate 5% (not as good as the lease interest rate) Interest 3,900
Deposit 10,000 Monthly Payment x36 525 Final Payment 0 (Alternatively you can get the payment down to c. 320 by making the loan over 5 years, paying 4,150 in interest)
Option 3 No Loan Spend 10k on a car. If you want a 35k car it's probably 10 years old now, so make sure you budget a little for maintenance.
v interesting thanks.
Would a car new at £35k ever hold £25k value after three years?
Something like a low mileage 3-series probably would be close. Or a Porsche Boxster. Not a loaded-up Mondeo or anything Japansese or Korean though.
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
Okay. Rough numbers.
Say you've got 10k in cash and would like to buy a car. (I'll use simple interest rather then compound interest to make life easier)
Option 1 New car lease. Car Value 35k Deposit 10k Finance 15k Term 3 Years Interest Rate 3% Interest 2,318
Deposit 10,000 Monthly Payment x36 300 Final Payment 16,000 Mileage limit applies, as the dealer needs to make sure the car is worth at least 16k if you choose to hand it back. Expect a fine if car has more than say 27,000 miles on it. More likely it's actually worth 25k so you've got 9k deposit for the next lease...
Option 2 2nd Hand Car Loan Car Value 25k (maybe it is the same car as above, was 35k new but now it's three years old). You may wish to also budget for extended manufacturer's warranty if available. Deposit 10k Finance 15k Term 5 Years. Interest Rate 5% (not as good as the lease interest rate) Interest 3,900
Deposit 10,000 Monthly Payment x36 525 Final Payment 0 (Alternatively you can get the payment down to c. 320 by making the loan over 5 years, paying 4,150 in interest)
Option 3 No Loan Spend 10k on a car. If you want a 35k car it's probably 10 years old now, so make sure you budget a little for maintenance.
It's worth building depreciation into your calculation. You'd have to be fucked in the head to pay cash for something with cataclysmic residuals like a BMW 7 Series (or your favourite McLaren) but leasing one protects, to an extent, from that.
My philosophy is too pay cash for cars with blown engines and get them for extraordinarily small amounts of money. I then spend years and three to five times their value repairing and modifying them. I commend this course of action to nobody.
From a monthly budget financial point of view, people are incentivised to either buy a new car or an old and cheap one, not a 3 or 4 year old car which makes the most sense in reality but leads to higher monthly payments (mostly because at the end of the loan you end up with an asset).
I've got a spreadsheet on this somewhere I'll try and drag up.
Well yes that's exactly the issue - they are all bought on the never never and then the loan is rolled over at the end of the term. And the finance firms give three pages of warnings why you should never buy a used car (as you say, 3-4 year old) saying it would bring plague and destruction upon your head, whereas it makes perfect sense. So people go for the new ones.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
Okay. Rough numbers.
Say you've got 10k in cash and would like to buy a car. (I'll use simple interest rather then compound interest to make life easier)
Option 1 New car lease. Car Value 35k Deposit 10k Finance 15k Term 3 Years Interest Rate 3% Interest 2,318
Deposit 10,000 Monthly Payment x36 300 Final Payment 16,000 Mileage limit applies, as the dealer needs to make sure the car is worth at least 16k if you choose to hand it back. Expect a fine if car has more than say 27,000 miles on it. More likely it's actually worth 25k so you've got 9k deposit for the next lease...
Option 2 2nd Hand Car Loan Car Value 25k (maybe it is the same car as above, was 35k new but now it's three years old). You may wish to also budget for extended manufacturer's warranty if available. Deposit 10k Finance 15k Term 5 Years. Interest Rate 5% (not as good as the lease interest rate) Interest 3,900
Deposit 10,000 Monthly Payment x36 525 Final Payment 0 (Alternatively you can get the payment down to c. 320 by making the loan over 5 years, paying 4,150 in interest)
Option 3 No Loan Spend 10k on a car. If you want a 35k car it's probably 10 years old now, so make sure you budget a little for maintenance.
v interesting thanks.
Would a car new at £35k ever hold £25k value after three years?
Something like a low mileage 3-series probably would be close. Or a Porsche Boxster. Not a loaded-up Mondeo or anything Japansese or Korean though.
Tesla residuals are better than other similiar priced cars I think actually.
Good to hear that evidence is being sought to prosecute them.
I see in todays news that Non EU immigration from Asia and Africa is up, matching the drop in EU immigration. Be careful what you wish for, Britain will become less European in many ways as a result of Brexit.
Serious question. How is that a problem? England (or Britain if that is your bag) is already a huge lovely rock polisher off different cultures all steadily rubbing the edges of each other to make something new, shiny and classically English. Why should it matter where those new pebbles come from?
Apologies I am a geologist and I am pushing the 'rocky' metaphor a bit.
The referendum was won by whipping up untrue fears of vast numbers of Muslims descending on Britain.
You are a stuck record Alastair. No matter how many times you repeat these claims you are still singing 'Highway to Hell' in Esperanto.
In fact as punishment for your stuck record act you are now condemned to watch this.
Say you've got 10k in cash and would like to buy a car. (I'll use simple interest rather then compound interest to make life easier)
Option 1 New car lease. Car Value 35k Deposit 10k Finance 15k Term 3 Years Interest Rate 3% Interest 2,318
Deposit 10,000 Monthly Payment x36 300 Final Payment 16,000 Mileage limit applies, as the dealer needs to make sure the car is worth at least 16k if you choose to hand it back. Expect a fine if car has more than say 27,000 miles on it. More likely it's actually worth 25k so you've got 9k deposit for the next lease...
Option 2 2nd Hand Car Loan Car Value 25k (maybe it is the same car as above, was 35k new but now it's three years old). You may wish to also budget for extended manufacturer's warranty if available. Deposit 10k Finance 15k Term 5 Years. Interest Rate 5% (not as good as the lease interest rate) Interest 3,900
Deposit 10,000 Monthly Payment x36 525 Final Payment 0 (Alternatively you can get the payment down to c. 320 by making the loan over 5 years, paying 4,150 in interest)
Option 3 No Loan Spend 10k on a car. If you want a 35k car it's probably 10 years old now, so make sure you budget a little for maintenance.
It's worth building depreciation into your calculation. You'd have to be fucked in the head to pay cash for something with cataclysmic residuals like a BMW 7 Series (or your favourite McLaren) but leasing one protects, to an extent, from that.
My philosophy is too pay cash for cars with blown engines and get them for extraordinarily small amounts of money. I then spend years and three to five times their value repairing and modifying them. I commend this course of action to nobody.
I like your style, but most others wouldn't. You need space to store a few cars and be handy with a spanner. It's also great fun, and often involves spending time with friends and children, on which you can't put a value.
Also people need to remember that the cost of maintaining a car is proportional to the cost it was when it was new, not the cost it is now. Cheap second-hand sports or luxury cars can be absolute money pits. If buying a used (but not total shed) luxury car make sure it's got a warranty on it, as they're full of very expensive bits that can go wrong!
And it is not as if by getting a car through some sort of leasing arrangement, the finance company is kindly offering to suffer the early years depreciation for you.
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
Very interesting. The clip I eg. posted for @Ishmael_Z was posted on my timeline by a Nigerian friend. I'd never heard of him before that and I thought it was quite funny.
But more interesting is your comment "says a lot about you.."
I think Michael Jackson's songs are great. I love Picasso's works and those of Eric Gill also. I think The Usual Suspects is a great film.
What* does* that say about me?
you have lots of more interesting things you could be doing than posting about Brexit
as have we all, Alan, as have we all. And yet we keep coming back to PB...
When we eventually either leave with May's deal or don't leave, there is going to be some great political knockabout over the total cost, to government and business, of wasting time and money preparing for the no deal that never was.
Say you've got 10k in cash and would like to buy a car. (I'll use simple interest rather then compound interest to make life easier)
Option 1 New car lease. Car Value 35k Deposit 10k Finance 15k Term 3 Years Interest Rate 3% Interest 2,318
Deposit 10,000 Monthly Payment x36 300 Final Payment 16,000 Mileage limit applies, as the dealer needs to make sure the car is worth at least 16k if you choose to hand it back. Expect a fine if car has more than say 27,000 miles on it. More likely it's actually worth 25k so you've got 9k deposit for the next lease...
Option 2 2nd Hand Car Loan Car Value 25k (maybe it is the same car as above, was 35k new but now it's three years old). You may wish to also budget for extended manufacturer's warranty if available. Deposit 10k Finance 15k Term 5 Years. Interest Rate 5% (not as good as the lease interest rate) Interest 3,900
Deposit 10,000 Monthly Payment x36 525 Final Payment 0 (Alternatively you can get the payment down to c. 320 by making the loan over 5 years, paying 4,150 in interest)
Option 3 No Loan Spend 10k on a car. If you want a 35k car it's probably 10 years old now, so make sure you budget a little for maintenance.
It's worth building depreciation into your calculation. You'd have to be fucked in the head to pay cash for something with cataclysmic residuals like a BMW 7 Series (or your favourite McLaren) but leasing one protects, to an extent, from that.
My philosophy is too pay cash for cars with blown engines and get them for extraordinarily small amounts of money. I then spend years and three to five times their value repairing and modifying them. I commend this course of action to nobody.
Also Tyler Hoover, who's a journalist with a whole garage full of old exotics. There's also guys like Samcrac and Tavarish who buy written-off cars and get them back on the road. Loads of great YouTube car channels out there.
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
Very interesting. The clip I eg. posted for @Ishmael_Z was posted on my timeline by a Nigerian friend. I'd never heard of him before that and I thought it was quite funny.
But more interesting is your comment "says a lot about you.."
I think Michael Jackson's songs are great. I love Picasso's works and those of Eric Gill also. I think The Usual Suspects is a great film.
What* does* that say about me?
you have lots of more interesting things you could be doing than posting about Brexit
as have we all, Alan, as have we all. And yet we keep coming back to PB...
Im on a sort of sabbatical, doing lots of lurking as the next month will just get silly. Im going to knock up a few articles about other things which will divert us for all of 2 mins from the B word, but worth a try.
At some stage we will have to get back to politics as normal
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
Very interesting. The clip I eg. posted for @Ishmael_Z was posted on my timeline by a Nigerian friend. I'd never heard of him before that and I thought it was quite funny.
But more interesting is your comment "says a lot about you.."
I think Michael Jackson's songs are great. I love Picasso's works and those of Eric Gill also. I think The Usual Suspects is a great film.
What* does* that say about me?
you have lots of more interesting things you could be doing than posting about Brexit
as have we all, Alan, as have we all. And yet we keep coming back to PB...
Im on a sort of sabbatical, doing lots of lurking as the next month will just get silly. Im going to knock up a few articles about other things which will divert us for all of 2 mins from the B word, but worth a try.
At some stage we will have to get back to politics as normal
Politics can stay irrational longer than you can stay sane.
Say you've got 10k in cash and would like to buy a car. (I'll use simple interest rather then compound interest to make life easier)
Option 1 New car lease. Car Value 35k Deposit 10k Finance 15k Term 3 Years Interest Rate 3% Interest 2,318
Deposit 10,000 Monthly Payment x36 300 Final Payment 16,000 Mileage limit applies, as the dealer needs to make sure the car is worth at least 16k if you choose to hand it back. Expect a fine if car has more than say 27,000 miles on it. More likely it's actually worth 25k so you've got 9k deposit for the next lease...
Option 2 2nd Hand Car Loan Car Value 25k (maybe it is the same car as above, was 35k new but now it's three years old). You may wish to also budget for extended manufacturer's warranty if available. Deposit 10k Finance 15k Term 5 Years. Interest Rate 5% (not as good as the lease interest rate) Interest 3,900
Deposit 10,000 Monthly Payment x36 525 Final Payment 0 (Alternatively you can get the payment down to c. 320 by making the loan over 5 years, paying 4,150 in interest)
Option 3 No Loan Spend 10k on a car. If you want a 35k car it's probably 10 years old now, so make sure you budget a little for maintenance.
v interesting thanks.
Would a car new at £35k ever hold £25k value after three years?
Something like a low mileage 3-series probably would be close. Or a Porsche Boxster. Not a loaded-up Mondeo or anything Japansese or Korean though.
Tesla residuals are better than other similiar priced cars I think actually.
Yes, they're not too bad but the S and X models are up against massive depreciators in the luxury end of the market. The good news for them is that the batteries seem to be holding up better than expected over time, postponing the point at which they need replacing possibly past 10 years.
Speaking of Tesla, the big announcment that Mr Tusk was going on about earlier in the week is that they're finally releasing the base version of the Model 3, the long-awaited $35k car that's the game-changer in getting electric cars to the mass-market.
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
Very interesting. The clip I eg. posted for @Ishmael_Z was posted on my timeline by a Nigerian friend. I'd never heard of him before that and I thought it was quite funny.
But more interesting is your comment "says a lot about you.."
I think Michael Jackson's songs are great. I love Picasso's works and those of Eric Gill also. I think The Usual Suspects is a great film.
What* does* that say about me?
you have lots of more interesting things you could be doing than posting about Brexit
as have we all, Alan, as have we all. And yet we keep coming back to PB...
Im on a sort of sabbatical, doing lots of lurking as the next month will just get silly. Im going to knock up a few articles about other things which will divert us for all of 2 mins from the B word, but worth a try.
At some stage we will have to get back to politics as normal
Politics can stay irrational longer than you can stay sane.
lol
William I gre up outside Belfast I have lived surrealism, Bexits just a side show
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
Very interesting. The clip I eg. posted for @Ishmael_Z was posted on my timeline by a Nigerian friend. I'd never heard of him before that and I thought it was quite funny.
But more interesting is your comment "says a lot about you.."
I think Michael Jackson's songs are great. I love Picasso's works and those of Eric Gill also. I think The Usual Suspects is a great film.
What* does* that say about me?
you have lots of more interesting things you could be doing than posting about Brexit
as have we all, Alan, as have we all. And yet we keep coming back to PB...
Im on a sort of sabbatical, doing lots of lurking as the next month will just get silly. Im going to knock up a few articles about other things which will divert us for all of 2 mins from the B word, but worth a try.
At some stage we will have to get back to politics as normal
How long until this is politics as normal, rather than a temporary diversion?
Good news: I have successfully completed my month abstaining from chocolate. Now for a month without cheese (Good Brie or otherwise).
I've had two months with no alcohol, and I tried February with no caffeine.
The lack of caffeine did f'all to help my sleep patterns, and all it did was make the days seem to drag on. I've had my first cup of coffee in four weeks this morning.
You will not live any longer , it will just feel twice as long and very very boring. Enjoy life's pleasures.
It's worth building depreciation into your calculation. You'd have to be fucked in the head to pay cash for something with cataclysmic residuals like a BMW 7 Series (or your favourite McLaren) but leasing one protects, to an extent, from that.
My philosophy is too pay cash for cars with blown engines and get them for extraordinarily small amounts of money. I then spend years and three to five times their value repairing and modifying them. I commend this course of action to nobody.
I like your style, but most others wouldn't. You need space to store a few cars and be handy with a spanner. It's also great fun, and often involves spending time with friends and children, on which you can't put a value.
Also people need to remember that the cost of maintaining a car is proportional to the cost it was when it was new, not the cost it is now. Cheap second-hand sports or luxury cars can be absolute money pits. If buying a used (but not total shed) luxury car make sure it's got a warranty on it, as they're full of very expensive bits that can go wrong!
And it is not as if by getting a car through some sort of leasing arrangement, the finance company is kindly offering to suffer the early years depreciation for you.
Hell no, it's all very much in there. The lease deals have a fair amount of fudge in them, 9k in my example, so that there's no way at all the lease company finishes upside-down on any car.
If you really have to say you have an S-Class or a full-size Range Rover, buy one 2-3 years old and for God's sake make sure you get a comprehensive warranty with it. Or buy two 10-year-old ones, in the hope that you can keep one or other of them serviceable at any particular time.
Within the context of 99.9% of modern comedians being not funny (100% at 6.30pm on R4), that is very funny and absolutely touches on, and supports the point Lammy was making yesterday.
Something tells me you don't watch much comedy! Or maybe if you do it's Mrs Brown's Boys. The clip in question is terrible both in terms of content and stifled delivery. Even the paying audience don't like it. Whether Lammy is racist or not is a tricky subject but he's certainly had a 24 hours to forget.
I don't go to comedy clubs any more so no I'm not a connoisseur. But I get what she is saying and it rings true. Are there better people out there also who are more nuanced (Stephen K Amos springs to mind) - perhaps.
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Says a lot about you if you like Stephen K Amos given his murky past. No doubt a huge Michael Jackson fan too.
Very interesting. The clip I eg. posted for @Ishmael_Z was posted on my timeline by a Nigerian friend. I'd never heard of him before that and I thought it was quite funny.
But more interesting is your comment "says a lot about you.."
I think Michael Jackson's songs are great. I love Picasso's works and those of Eric Gill also. I think The Usual Suspects is a great film.
What* does* that say about me?
you have lots of more interesting things you could be doing than posting about Brexit
as have we all, Alan, as have we all. And yet we keep coming back to PB...
Im on a sort of sabbatical, doing lots of lurking as the next month will just get silly. Im going to knock up a few articles about other things which will divert us for all of 2 mins from the B word, but worth a try.
At some stage we will have to get back to politics as normal
How long until this is politics as normal, rather than a temporary diversion?
By that I mean well have to get back to real issues like housing education etc
GE should do it, but maybe we wont have the same party line up
It measures debt held by national banks vs income in those countries.
Sensible enough?
No. Because it means that if a Norwegian bank lends to a German, it gets added to the Norwegian debt to income number, rather than the German.
The consequence of this is that a few very international banks in small countries, like SEB in Sweden and Nordbank in Norway, completely distort the figures.
(That being said, Denmark has a scary mortgage debt problem.)
So basically take away those countries likely to be lending into larger economies adjacent, and the Uk is right at the upper end. Although Australia appears to have a big problem?
They have extremely low public debt though - less than 20% of GDP (and even that's a steep rise from the Howard years where for a time they had net credit).
There are a lot of skint people out there living beyond their means.
I have often pondered assembling a photo album of small, terraced houses with huge eff off range rovers parked outside them. Would be a large album.
The desire to feel ourselves better than other people is universal. Some achieve it by buying flash motors they can't afford. Others achieve it by looking down their noses at people who buy flash motors they can't afford. And the third and most exclusive group prefers to stand aside and shake their heads wryly at the behaviour of both of the first two groups.
I am in a 4th group, chuckling quietly at the antics of the first three.
Those infinite regresses are a right bugger.
Some people buy flash motors they can afford , group 5
When we eventually either leave with May's deal or don't leave, there is going to be some great political knockabout over the total cost, to government and business, of wasting time and money preparing for the no deal that never was.
The legal costs of Brexit will be never-ending. Just imagine the field day for lawyers that will ensue from ripping up 40 years' worth of legislation!
It measures debt held by national banks vs income in those countries.
Sensible enough?
No. Because it means that if a Norwegian bank lends to a German, it gets added to the Norwegian debt to income number, rather than the German.
The consequence of this is that a few very international banks in small countries, like SEB in Sweden and Nordbank in Norway, completely distort the figures.
(That being said, Denmark has a scary mortgage debt problem.)
So basically take away those countries likely to be lending into larger economies adjacent, and the Uk is right at the upper end. Although Australia appears to have a big problem?
They have extremely low public debt though - less than 20% of GDP (and even that's a steep rise from the Howard years where for a time they had net credit).
There are a lot of skint people out there living beyond their means.
I have often pondered assembling a photo album of small, terraced houses with huge eff off range rovers parked outside them. Would be a large album.
The desire to feel ourselves better than other people is universal. Some achieve it by buying flash motors they can't afford. Others achieve it by looking down their noses at people who buy flash motors they can't afford. And the third and most exclusive group prefers to stand aside and shake their heads wryly at the behaviour of both of the first two groups.
I am in a 4th group, chuckling quietly at the antics of the first three.
Those infinite regresses are a right bugger.
Some people buy flash motors they can afford , group 5
It measures debt held by national banks vs income in those countries.
Sensible enough?
No. Because it means that if a Norwegian bank lends to a German, it gets added to the Norwegian debt to income number, rather than the German.
The consequence of this is that a few very international banks in small countries, like SEB in Sweden and Nordbank in Norway, completely distort the figures.
(That being said, Denmark has a scary mortgage debt problem.)
So basically take away those countries likely to be lending into larger economies adjacent, and the Uk is right at the upper end. Although Australia appears to have a big problem?
They have extremely low public debt though - less than 20% of GDP (and even that's a steep rise from the Howard years where for a time they had net credit).
There are a lot of skint people out there living beyond their means.
I have often pondered assembling a photo album of small, terraced houses with huge eff off range rovers parked outside them. Would be a large album.
The desire to feel ourselves better than other people is universal. Some achieve it by buying flash motors they can't afford. Others achieve it by looking down their noses at people who buy flash motors they can't afford. And the third and most exclusive group prefers to stand aside and shake their heads wryly at the behaviour of both of the first two groups.
I am in a 4th group, chuckling quietly at the antics of the first three.
Those infinite regresses are a right bugger.
Some people buy flash motors they can afford , group 5
It measures debt held by national banks vs income in those countries.
Sensible enough?
No. Because it means that if a Norwegian bank lends to a German, it gets added to the Norwegian debt to income number, rather than the German.
The consequence of this is that a few very international banks in small countries, like SEB in Sweden and Nordbank in Norway, completely distort the figures.
(That being said, Denmark has a scary mortgage debt problem.)
So basically take away those countries likely to be lending into larger economies adjacent, and the Uk is right at the upper end. Although Australia appears to have a big problem?
They have extremely low public debt though - less than 20% of GDP (and even that's a steep rise from the Howard years where for a time they had net credit).
There are a lot of skint people out there living beyond their means.
I have often pondered assembling a photo album of small, terraced houses with huge eff off range rovers parked outside them. Would be a large album.
The desire to feel ourselves better than other people is universal. Some achieve it by buying flash motors they can't afford. Others achieve it by looking down their noses at people who buy flash motors they can't afford. And the third and most exclusive group prefers to stand aside and shake their heads wryly at the behaviour of both of the first two groups.
I am in a 4th group, chuckling quietly at the antics of the first three.
Those infinite regresses are a right bugger.
Some people buy flash motors they can afford , group 5
They are the worst.
You really love me, admit it.
Of course. Personally I am a member of the elite 6th group - people who could afford to buy a flash motor but choose not too. Our smugness is truly a sight to behold.
We need to get through Brexit, then have a clear-out of all those no-hopers in Government, starting with May - and those she keeps in Cabinet for inexplicable reasons....
It measures debt held by national banks vs income in those countries.
Sensible enough?
No. Because it means that if a Norwegian bank lends to a German, it gets added to the Norwegian debt to income number, rather than the German.
The consequence of this is that a few very international banks in small countries, like SEB in Sweden and Nordbank in Norway, completely distort the figures.
(That being said, Denmark has a scary mortgage debt problem.)
So basically take away those countries likely to be lending into larger economies adjacent, and the Uk is right at the upper end. Although Australia appears to have a big problem?
They have extremely low public debt though - less than 20% of GDP (and even that's a steep rise from the Howard years where for a time they had net credit).
There are a lot of skint people out there living beyond their means.
I have often pondered assembling a photo album of small, terraced houses with huge eff off range rovers parked outside them. Would be a large album.
SNIP
I am in a 4th group, chuckling quietly at the antics of the first three.
Those infinite regresses are a right bugger.
Some people buy flash motors they can afford , group 5
They are the worst.
You really love me, admit it.
Of course. Personally I am a member of the elite 6th group - people who could afford to buy a flash motor but choose not too. Our smugness is truly a sight to behold.
Good for you. PS: Some scumbag keyed my new car, ugly 18" scratch on back door.
When handing in the lease car at the end of the three years, you'd better hope it's not got any car park rash or scuffed bumpers, no kids have been sick in the back or adventurous with the crayons - beacuse you'll be putting your hand in your pocket for fixing any damage that's not considered fair wear and tear.
Indeed, a relative just finding this out. What a bunch of crooks - seems they make all their profit by inventing damage afterwards.
I was sure glad I had/have a half knackered 09 Peugeot rather than some flash PCP job when my other half attempted to take half the door off driving round our drive gates. Mind you my friend has just done the same with his front corner on his gates this morning. His is his pride and joy Chevrolet Camaro !
It measures debt held by national banks vs income in those countries.
Sensible enough?
No. Because it means that if a Norwegian bank lends to a German, it gets added to the Norwegian debt to income number, rather than the German.
The consequence of this is that a few very international banks in small countries, like SEB in Sweden and Nordbank in Norway, completely distort the figures.
(That being said, Denmark has a scary mortgage debt problem.)
So basically take away those countries likely to be lending into larger economies adjacent, and the Uk is right at the upper end. Although Australia appears to have a big problem?
They have extremely low public debt though - less than 20% of GDP (and even that's a steep rise from the Howard years where for a time they had net credit).
There are a lot of skint people out there living beyond their means.
I have often pondered assembling a photo album of small, terraced houses with huge eff off range rovers parked outside them. Would be a large album.
The desire to feel ourselves better than other people is universal. Some achieve it by buying flash motors they can't afford. Others achieve it by looking down their noses at people who buy flash motors they can't afford. And the third and most exclusive group prefers to stand aside and shake their heads wryly at the behaviour of both of the first two groups.
I am in a 4th group, chuckling quietly at the antics of the first three.
Those infinite regresses are a right bugger.
Some people buy flash motors they can afford , group 5
They are the worst.
You really love me, admit it.
Nice Avatar pic Malc - is it new or have I not being paying attention?
It measures debt held by national banks vs income in those countries.
Sensible enough?
No. Because it means that if a Norwegian bank lends to a German, it gets added to the Norwegian debt to income number, rather than the German.
The consequence of this is that a few very international banks in small countries, like SEB in Sweden and Nordbank in Norway, completely distort the figures.
(That being said, Denmark has a scary mortgage debt problem.)
So basically take away those countries likely to be lending into larger economies adjacent, and the Uk is right at the upper end. Although Australia appears to have a big problem?
They have extremely low public debt though - less than 20% of GDP (and even that's a steep rise from the Howard years where for a time they had net credit).
There are a lot of skint people out there living beyond their means.
I have often pondered assembling a photo album of small, terraced houses with huge eff off range rovers parked outside them. Would be a large album.
The deboth of the first two groups.
I am in a 4th group, chuckling quietly at the antics of the first three.
Those infinite regresses are a right bugger.
Some people buy flash motors they can afford , group 5
They are the worst.
You really love me, admit it.
Of course. Personally I am a member of the elite 6th group - people who could afford to buy a flash motor but choose not too. Our smugness is truly a sight to behold.
No smugness in this quarter - I just am not going to spend that sort of money on a car.
My friend on the other hand is unbelievably smug about his Merc convertible - I laughed like a drain when another friend told me it was leased not purchased.
One shudders to think of the sin that requires such penance.
Horrific. I had to suffer a spell without chocolate as some pills I was on briefly caused interesting side effects if I ate chocolate. I discovered this the hard way as there was no mention of any issue in the patient info sheet. Just one jaffa cake & 15 mins later I was running for the loo - galloping diarrhea... The elimination process on the food was fun.
Big thanks to the PBer who put me onto the Steam Punk weekend in Lincoln (Was it Richard Tyndell?).
Hotel rooms booked and looking forward to it.
PB space buffs might also be interested in the Blue Dot Festival in Cheshire this July. Kraftwerk and New Order headline and excellent science and astronomy sessions.
Mr. Megalomaniacs, chocolate's my main culinary indulgence. It's fantastic stuff.
Oh yes. I've found the high quality stuff with high percentages of cocoa causes lucid dreams which are great. The downside is if I eat any after 8pm I get nightmares instead...
Shame that the BBC resorts to misleading tweets like this. What the Govt has done is agree to buy in the future 33 million pounds of freight capacity to secure medical supplies. Implying that the Govt has caved in a paid 33 million as compensation is not correct.
Of course. Personally I am a member of the elite 6th group - people who could afford to buy a flash motor but choose not too. Our smugness is truly a sight to behold.
Good for you. PS: Some scumbag keyed my new car, ugly 18" scratch on back door.
A Tory no doubt. Probably a 'Wessmincer Tooory' at that.
One shudders to think of the sin that requires such penance.
Horrific. I had to suffer a spell without chocolate as some pills I was on briefly caused interesting side effects if I ate chocolate. I discovered this the hard way as there was no mention of any issue in the patient info sheet. Just one jaffa cake & 15 mins later I was running for the loo - galloping diarrhea... The elimination process on the food was fun.
Sounds as if you were eliminating it perfectly well.
Comments
Those infinite regresses are a right bugger.
And renting is cheaper than outright purchase. My 3 year old car is costing me £300 a month, for that I could have a new one. The difference is that I will own it in 3 years while the new one would have been rented.
Edit: I'd be interested to see the nuts and bolts of it in your spreadsheet.
The real nonsense is pretending that I might be interested in a finance deal just to get the best deal on the new car. The last thing they seem to want is a cash buyer.
You'd need a bigger red bus.....
But if they're making twenty-five year forecasts then you shouldn't.
https://twitter.com/DavidLammy/status/1101392432841793536
And if so, can you tell us where we're heading... ?
But in the interests of getting his point out there albeit with the subtlety of a claw hammer then I think that tweet was very well judged.
Let me know if you need to turn on the subtitles for this:
https://www.youtube.com/watch?v=z42GdbgY3LY
Say you've got 10k in cash and would like to buy a car.
(I'll use simple interest rather then compound interest to make life easier)
Option 1 New car lease.
Car Value 35k
Deposit 10k
Finance 15k
Term 3 Years
Interest Rate 3%
Interest 2,318
Deposit 10,000
Monthly Payment x36 300
Final Payment 16,000
Mileage limit applies, as the dealer needs to make sure the car is worth at least 16k if you choose to hand it back. Expect a fine if car has more than say 27,000 miles on it. More likely it's actually worth 25k so you've got 9k deposit for the next lease...
Option 2 2nd Hand Car Loan
Car Value 25k (maybe it is the same car as above, was 35k new but now it's three years old). You may wish to also budget for extended manufacturer's warranty if available.
Deposit 10k
Finance 15k
Term 5 Years.
Interest Rate 5% (not as good as the lease interest rate)
Interest 3,900
Deposit 10,000
Monthly Payment x36 525
Final Payment 0
(Alternatively you can get the payment down to c. 320 by making the loan over 5 years, paying 4,150 in interest)
Option 3 No Loan
Spend 10k on a car. If you want a 35k car it's probably 10 years old now, so make sure you budget a little for maintenance.
It wouldn't make sense to change it to a £300 / month car on PCP, plus strings attached, with a load of unnecessary tech that can just go wrong. If the current car dies, then I would borrow about £8k on a low interest loan, and buy a newer version of our existing car, the monthly repayments would be about £130, after 5 years the car would be owned outright.
But more interesting is your comment "says a lot about you.."
I think Michael Jackson's songs are great. I love Picasso's works and those of Eric Gill also. I think The Usual Suspects is a great film.
What* does* that say about me?
My philosophy is too pay cash for cars with blown engines and get them for extraordinarily small amounts of money. I then spend years and three to five times their value repairing and modifying them. I commend this course of action to nobody.
To my mind perhaps the finest comedian of the last 20 years is Eddie Izzard. Clearly I disagree with his about his views on the EU and politics in general but he makes me laugh harder and longer than almost any comedian ever.
Comedy is a deeply personal thing and it is pretty idiotic to criticise or judge people for liking one comedian over another.
@Brom??
1. When handing in the lease car at the end of the three years, you'd better hope it's not got any car park rash or scuffed bumpers, no kids have been sick in the back or adventurous with the crayons - beacuse you'll be putting your hand in your pocket for fixing any damage that's not considered fair wear and tear.
2. Mr @eek makes the point that 'premium' brands suffer from less initial depreciation (therefore higher residual values) than 'standard' brands. So the lease 'monthlies' on a 35k BMW 3-series can be almost the same as on a 25k Ford Mondeo. If the 3yo 35k car is worth 25k, and the 3yo 25k car is worth 15k, then the monthly difference is 1/36 of the 3 year interest on 10k, or about 30-40 quid a month
"Lord Nazir Ahmed charged with attempted rape"
https://www.bbc.co.uk/news/uk-england-south-yorkshire-47413418
This news was brought to you by one of PB's crime correspondents..
So was the Amos comment about his quality? The way you said it it sounded as though he had done something egregious: "given his murky past". What is his murky past?
You had me at "superinjunction".
Also people need to remember that the cost of maintaining a car is proportional to the cost it was when it was new, not the cost it is now. Cheap second-hand sports or luxury cars can be absolute money pits. If buying a used (but not total shed) luxury car make sure it's got a warranty on it, as they're full of very expensive bits that can go wrong!
Edit, ok I'm now well behind the curve on this.
At some stage we will have to get back to politics as normal
Speaking of Tesla, the big announcment that Mr Tusk was going on about earlier in the week is that they're finally releasing the base version of the Model 3, the long-awaited $35k car that's the game-changer in getting electric cars to the mass-market.
William I gre up outside Belfast I have lived surrealism, Bexits just a side show
If you really have to say you have an S-Class or a full-size Range Rover, buy one 2-3 years old and for God's sake make sure you get a comprehensive warranty with it. Or buy two 10-year-old ones, in the hope that you can keep one or other of them serviceable at any particular time.
GE should do it, but maybe we wont have the same party line up
fingers crossed
Hotel rooms booked and looking forward to it.
Indeed, a relative just finding this out. What a bunch of crooks - seems they make all their profit by inventing damage afterwards.
Loads of times in fact.
PS: Some scumbag keyed my new car, ugly 18" scratch on back door.
"Two other men, Mohammed Farouq, 68, and Mohammed Tariq, 63, both from Rotherham, have also been charged, South Yorkshire Police said."
Things that make you go "Hmmmmmm......"
Mind you my friend has just done the same with his front corner on his gates this morning. His is his pride and joy Chevrolet Camaro !
My friend on the other hand is unbelievably smug about his Merc convertible - I laughed like a drain when another friend told me it was leased not purchased.
https://www.discoverthebluedot.com/homepage
Some of the comments in response to Momentum's video condeming anti-semitism are blackly funny,
Implying that the Govt has caved in a paid 33 million as compensation is not correct.