Is 'V8 AMG snobbery' a "thing"?

Page may contain affiliate links. Please see terms for details.
It depends on how you use your car, I prefer cash.

If I was in receipt of a car allowance, needed a car for work, I would like to think that some kind of lease would work.

If I really wanted a car but couldn't afford to pay cash for a new one then I'd consider finance.

I will never take finance because the salesman tells me to keep my cash and use theirs as I can earn more on mine than it costs to borrow because it's bollox and I won't be taking investment advice from a car salesman no matter how many buy to lets he has.
 
👍 I was always told never to get into debt. You never know what's round the corner. Look at the last few months. I've also never seen the appeal in PCP for a car. The thought of never actually owning it still seems strange to an old codger like me. Not that I'm knocking PCP...each to their own. But if circumstances changed for me at least I have an asset to sell.

Lets be fair here, no car is an asset, unless that is you're talking about a select few vintage Ferrari's etc.

I personally think the opposite, what's the point in owning a depreciating piece of tin? It's only ever going to lose money (admittedly down to a plateau - if you're lucky), which is why I use PCP to buy a car I couldn't otherwise afford, pay half, enjoy it for 2 or 3 years and then walk away and get something else.
 
It depends on how you use your car, I prefer cash.

If I was in receipt of a car allowance, needed a car for work, I would like to think that some kind of lease would work.

If I really wanted a car but couldn't afford to pay cash for a new one then I'd consider finance.

I will never take finance because the salesman tells me to keep my cash and use theirs as I can earn more on mine than it costs to borrow because it's bollox and I won't be taking investment advice from a car salesman no matter how many buy to lets he has.

That's the key point here, having taken a couple of PCP agreements with mad APR rates from from the dealer, I would never do that again.

These cars sell themselves and the dealers know it, the money is all made in the finance product - which is why I opted to go with my bank for my current car, not only was the interest rate stupidly low but they didn't try and force it down my throat (and more importantly perhaps, the indie I bought the car from never even had a chance to talk about it!).
 
Lets be fair here, no car is an asset, unless that is you're talking about a select few vintage Ferrari's etc.

I personally think the opposite, what's the point in owning a depreciating piece of tin? It's only ever going to lose money (admittedly down to a plateau - if you're lucky), which is why I use PCP to buy a car I couldn't otherwise afford, pay half, enjoy it for 2 or 3 years and then walk away and get something else.
We own 4 cars...outright. They are all worth something (though only one is appreciating) so, yes, they are all assets.
 
We own 4 cars...outright. They are all worth something (though only one is appreciating) so, yes, they are all assets.

For me to entertain buying a car outright again (without having the luxury of having endless funds) it would need to be something that is worth more than just 'something' after a few years. My last AMG (a C36) was traded in for an E46 M3 and I got just £5k for it - it would have cost me more than that to tax, insure and run for another couple of years so not worth keeping.
 
For me to entertain buying a car outright again (without having the luxury of having endless funds) it would need to be something that is worth more than just 'something' after a few years. My last AMG (a C36) was traded in for an E46 M3 and I got just £5k for it - it would have cost me more than that to tax, insure and run for another couple of years so not worth keeping.
You pays your money...etc.
 
Lets be fair here, no car is an asset, unless that is you're talking about a select few vintage Ferrari's etc.

I personally think the opposite, what's the point in owning a depreciating piece of tin? It's only ever going to lose money (admittedly down to a plateau - if you're lucky), which is why I use PCP to buy a car I couldn't otherwise afford, pay half, enjoy it for 2 or 3 years and then walk away and get something else.

I can understand your point if you buy a new car. Yes you will loose a fair chunck of your hard earned. Some people don't mind that, to have something that they can spec as desired and to be the first owner. Everyone has a different view on what they want from a car. If you come along 2 years down the line and pick up the right car with low miles at a decent price the car has already taken its hit in depreciation. Keep it for a year or 2 and you and you still have a desirable 3/4 year old car that's worth not that much less than you paid for it. This ethos has stood me well over the years. Buy at the right time and sell at the right time.

An asset to me is something I can sell if I need cash fast. PCP is a finance deal that you commit to without actually owning anything at the end of the term. The finance company owns the car. This has never appealed to me. But as I said this is only my opinion and I would never knock anyone for making personal choices.👍😉
 
apart from my W211 which I kept for 6 years or so I always seem to lose £4K a year
 
In response to the OP, certainly not with me. Like others I don’t tell people what cars I own unless asked. I didn’t want an AMG as such, but I’ve always love V8’s (I’m just a petrol head that loves cars) and just wanted another. The SL55 fitted the bill perfectly.
 
I can understand your point if you buy a new car. Yes you will loose a fair chunck of your hard earned. Some people don't mind that, to have something that they can spec as desired and to be the first owner. Everyone has a different view on what they want from a car. If you come along 2 years down the line and pick up the right car with low miles at a decent price the car has already taken its hit in depreciation. Keep it for a year or 2 and you and you still have a desirable 3/4 year old car that's worth not that much less than you paid for it. This ethos has stood me well over the years. Buy at the right time and sell at the right time.

An asset to me is something I can sell if I need cash fast. PCP is a finance deal that you commit to without actually owning anything at the end of the term. The finance company owns the car. This has never appealed to me. But as I said this is only my opinion and I would never knock anyone for making personal choices.👍😉

Yep I agree its about personal choice, not knocking anyone but can't see the logic in owning a car, partly because I despise the selling process at the end of it. I've had my fair share of old stuff working my way up and PCP just happens to be the way to get to where I want to be. Those 2 agreements were different by the way, I bought a brand new A5 coupe the first time (never again will I buy new) and a used A6 Avant the second time.
 
I remember you mentioning it, I don’t know him but he springs to mind when I think of the E53. Did you say it’s due for replacement soon?

18 months old - another 18 to go. I'm quite keen on it but, it is his daily driver and he is putting a lot of miles on it.

I was parked in front of his garage yesterday and as were were leaving he came out to put his car away - He was blipping the throttle (at me) and making lovely exhaust sounds .......I opened my folding roof which shut him up :);):).
 
Last edited by a moderator:
It depends on how you use your car, I prefer cash.

If I was in receipt of a car allowance, needed a car for work, I would like to think that some kind of lease would work.

If I really wanted a car but couldn't afford to pay cash for a new one then I'd consider finance.

I will never take finance because the salesman tells me to keep my cash and use theirs as I can earn more on mine than it costs to borrow because it's bollox and I won't be taking investment advice from a car salesman no matter how many buy to lets he has.

Each to their own but I'd have to disagree here. With barely any effort you can obtain yields on capital of over 10% pa gross so provided you can find a car loan with a lower debt cost than that (easy) you're in the money.
People have strange views on debt. Even though I'm mortgage free on paper, I always borrow the maximum they will give me every 2 years (currently at 1.12%) and invest it for minimum gains of 10% (currently more like 40% post Covid).
Free money.
 
Lets be fair here, no car is an asset, unless that is you're talking about a select few vintage Ferrari's etc.

I personally think the opposite, what's the point in owning a depreciating piece of tin? It's only ever going to lose money (admittedly down to a plateau - if you're lucky), which is why I use PCP to buy a car I couldn't otherwise afford, pay half, enjoy it for 2 or 3 years and then walk away and get something else.

Mmmmm do you believe that you are not paying for depreciation? :) If it was that simple, everybody would be running cars on PCP.
 
Please share! Especially, if they are without risk!

Haha no such thing as risk-free anything but a basic share ISA with a risk rating of 6 or above will have yielded pretty close to double figures in any year in the last 10. If you'd put your £20k limit in at the start of this tax year you'd be around 28% up by now. Even accounting for the Covid crash in March, global stocks (if you have some higher risk exposure to tech and healthcare in there) will beat any debt cost in a car loan.
It's when people leave cash in building societies or "savings" accounts that inflation bites.
 
Haha no such thing as risk-free anything but a basic share ISA with a risk rating of 6 or above will have yielded pretty close to double figures in any year in the last 10. If you'd put your £20k limit in at the start of this tax year you'd be around 28% up by now. Even accounting for the Covid crash in March, global stocks (if you have some higher risk exposure to tech and healthcare in there) will beat any debt cost in a car loan.
It's when people leave cash in building societies or "savings" accounts that inflation bites.
I was advised to invest with Neil Woodford.
 
Mmmmm do you believe that you are not paying for depreciation? :) If it was that simple, everybody would be running cars on PCP.

I know i'm paying for depreciation, what i'm saying here is that PCP works for me, I feel like i've got a good deal and therefore don't care to 'own' another car (unless I suddenly become independently wealthy at some point in the next 50 years).
 

Users who are viewing this thread

Back
Top Bottom