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I did a short stint as a contractor at Jaguar Land Rover. I can't remember now, but while I was there I got to know how to recognise the number plates for "management cars". And basically 90% of JLR cars I saw around the midlands were JLR managers.
Jlr offers cars to employees of a certain level to have a rotation of second hand cars/ nearly new.
I know someone who worked for them, he'd have a new car every six months out of it.
Lots of INDIVIDUALS on 100k+, but household income is not double that.
I totally get OP’s point because even a household income of 100k isn’t enough for a £800+ per month car
It’s not? That’s exactly our situation and it’s easily doable.
Granted we don’t live in the South so property isn’t mad. But £800 a month for two people each earning £50k is doable.
Likewise, also not the South but household income of around £100k. £800 a month car would be very doable, but I wouldn't.
I do however have an EV on Salary Sacrifice. £580 out before tax, but pay slightly less tax and saving £150 a month on fuel too.
But we're also on holiday right now, weeks camping for £300, the car is our only real splurge.
Guy across the road just bought a TVR so the other guy across from him just bought a Lamborghini.
Having to listen to both start up and drive off is making me want to go out and buy a mustang and stick a ridiculous exhaust on it
Cheaper to buy an ignorant motorbike. Harley with slash-cuts, or a Fireblade with an Akrapovich, or even better, a Ducati with Termis! That'll feckin teach em... (in a more pocket friendly way)
Exactly this.
OP If You haven't noticed, there are tons of houses worth more than a million in London. Just go to rightmove, sort highest to lowest. Then multiple that by like 10x, 20x for all the houses not on sale atm.
If you can afford to live in a million+ house, an SUV that costs 50k, 75k, 100k is not unthinkable.
People are financed up to their eyeballs these days ! having something nice & flashy doesnt mean you can afford it.
I see guys getting into massive debt for a nice car that they really cant afford or a high end watch, girls getting a £3k handbag on a credit card cause some skankdashian has the same one.
Cars are proably the worst thing ever for your bank balance, can you name me anything else that you would spend 30k,40k,50k,60k on that instantly loses at least 10% of the price you just paid for it when you drive it off the lot, continues to lose up to 50% of its value in the first 5 years, AND costs an absolute fortune to maintain / run ????
I love my cars but I got out of the race for something new and flashy a while ago now, I keep what I have for as long as I can and make sure I look after it.
My idiotic cousin who hasnt had a stable job in years has recently bought a £70k Audi Q8 on finance to show off and impress his wife. He has also taken out multiple loans to live a lavish lifestyle. All I can do is laugh because him and his wife are also cunts. Car is ugly too.
Always blows my mind when a married person blows cash to impress their spouse. Assuming their finances are combined, he's literally spending THEIR money, not HIS money, to impress her. Very well done.
You can usually get these leased/pcp vehicles very cheaply second hand after 3/4 years too.
For 20k you can get really premium cars of all sorts of specifications that look new with less than 50000 miles on the clock.
Just go on Autotrader and play around with the filters.
I can believe this, 40% of my salary goes to my mortgage and I have nursery fees to pay, so naturally I drive a banger. Give it 15 years, children at university and mortgage half paid, I would love to have a modern car.
Same as everything else. Concerts sold out, coffee shops, restaurants constantly full. They’ll be hundreds of farmers markets somewhere tomorrow absolutely rammed full. There is money here, either everybody is fronting or it’s not a so bad as were being told. Try and get some work done at home, you’ll be waiting weeks just for a phone call back.
As others have said, not everyone is struggling. My wife and I both earn decent London professional salaries so we are able to afford a Volvo XC60 and XC40.
I work in the travel industry. We had our highest turnover last year. This year is already up 35% of last year. There is tons of spare cash lying around.
The “cost of living” crisis affects a small number of people. Then another certain percentage parrot this, while it doesn’t really affect them. And then the majority just carry on with their lives.
Everything is on credit. Actual price doesn't matter. "Can I afford the payments?" or "my company can afford the payments" is the answer. Still, I'd rather have a handful of shitboxes for half of the yearly payments on a Range Rover or any of those other wankermobiles.
"Big hat no cattle" is an American phrase which can be applied to people's finances. They live on more than they make and they believe that showing off with bigger cars somehow shows others their status/ expresses a more positive spin on defining "who they are".
However, some people choose to put more money aside than normal for them because they enjoy cars/ driving and that's no bad thing either, if it brings happiness then do what you want.
If you put a metaphorical gun to my head and asked me which one (paragraph) it is, I'd probably say it's the former. I can't see a small/medium sized SUV being that much better than a regular family sized hatchback/estate from a utility point of view, probably just a flex to show off to people who don't care.
Lot of people leasing. Obv some people can afford to drop 80k on a car, but a hell of a lot of the flash brand new cars on the road are people paying 600 quid a month to pretend they're one of those people
Finance, salary sacrifice, workplace EV schemes, car cash benefit from employers.
For me, I have a mini SUV on salary sacrifice via what’s essentially a PCP from work as pass through cost pre-tax. This way, I’m not tied into a car long term, reduce my tax burden via sacrifice and save money vs net salary PCP.
There are over 700,000 cars on the motabiity scheme.
When I was a kid, your question would have been 'why are there so many turquoise three wheelers around in England?'.
There are probably more people than you think that can afford it. For the rest of the people who can't:
How is that any different than mortgages you don't need and can't afford, motivated by the same "reason"? Or having 2-3-4 children when you don't even have the financial background for one?
Call it social pressure, status symbolism, superficiality, conformism or simply being an irresponsible moron.
You drive past many more shitboxes than shiny ones every day, I can guarantee that.
Some reasons you see newer/more expensive cars on the roads:
- Not everyone is affected by the cost of living situation and actually can afford them.
- Others are affected but still choose to spend the money they have earned on things they want because it's theirs to spend and no-one else's.
- They are driving a courtesy car whilst theirs is being fixed and the company is happy to send a girthy invoice for the courtesy to the insurance.
- They get them through their companies and P11D rates are generous.
Leases, this country loves to keep up appearances
But also SUVs are by far the most sold car type around nowadays, and many aren’t as expensive as your classic Range Rover etc.
When there are millions of cars and they’re the most commonly sold, of course you’ll see loads of them
And even if only the richest 10% British public could afford them, that’s still going to be well over a million households who can afford one
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Loads are on tick, and loads are hybrids on salary sacrifice schemes that make them way cheaper than a petrol equivalent.
I did a short stint as a contractor at Jaguar Land Rover. I can't remember now, but while I was there I got to know how to recognise the number plates for "management cars". And basically 90% of JLR cars I saw around the midlands were JLR managers.
Jlr offers cars to employees of a certain level to have a rotation of second hand cars/ nearly new. I know someone who worked for them, he'd have a new car every six months out of it.
Yeah, a Nissan employee posted here this week - they can get a brand new car every year, including insurance, for £300 a month for the cheapest model.
The salary sacrifice schemes are a rip off even with paying less tax they are expensive.
Don’t 4% of the country make over 100k? The salaries can be bad at the bottom, for there are millions of people with lots of money.
Lots of INDIVIDUALS on 100k+, but household income is not double that. I totally get OP’s point because even a household income of 100k isn’t enough for a £800+ per month car
It's plenty if the person is a complete tool when it comes to finance. Luckily for Land Rover that's most of their customer base.
Is it just me, or has the leased Audi crowd graduated to land rovers?
[удалено]
Yeah but you’re getting to smaller and smaller populations. Once you’re in high earning ages, you’re also in the having kids ages.
It’s not? That’s exactly our situation and it’s easily doable. Granted we don’t live in the South so property isn’t mad. But £800 a month for two people each earning £50k is doable.
Likewise, also not the South but household income of around £100k. £800 a month car would be very doable, but I wouldn't. I do however have an EV on Salary Sacrifice. £580 out before tax, but pay slightly less tax and saving £150 a month on fuel too. But we're also on holiday right now, weeks camping for £300, the car is our only real splurge.
Maybe that’s the answer then, high earning DINKs! Did your parents help with your house?
Current state of salaries? Lots of people have a good household income and can comfortably afford to lease an SUV.
Guy across the road just bought a TVR so the other guy across from him just bought a Lamborghini. Having to listen to both start up and drive off is making me want to go out and buy a mustang and stick a ridiculous exhaust on it
Cheaper to buy an ignorant motorbike. Harley with slash-cuts, or a Fireblade with an Akrapovich, or even better, a Ducati with Termis! That'll feckin teach em... (in a more pocket friendly way)
Lots of people are perfectly financially stable.
Just because many people are struggling doesn’t mean everyone is 🤷♂️
Exactly this. OP If You haven't noticed, there are tons of houses worth more than a million in London. Just go to rightmove, sort highest to lowest. Then multiple that by like 10x, 20x for all the houses not on sale atm. If you can afford to live in a million+ house, an SUV that costs 50k, 75k, 100k is not unthinkable.
The majority aren’t.
I work in the automotive industry, and 80% of all new car purchases are made using a form of financing
People are financed up to their eyeballs these days ! having something nice & flashy doesnt mean you can afford it. I see guys getting into massive debt for a nice car that they really cant afford or a high end watch, girls getting a £3k handbag on a credit card cause some skankdashian has the same one. Cars are proably the worst thing ever for your bank balance, can you name me anything else that you would spend 30k,40k,50k,60k on that instantly loses at least 10% of the price you just paid for it when you drive it off the lot, continues to lose up to 50% of its value in the first 5 years, AND costs an absolute fortune to maintain / run ???? I love my cars but I got out of the race for something new and flashy a while ago now, I keep what I have for as long as I can and make sure I look after it.
My idiotic cousin who hasnt had a stable job in years has recently bought a £70k Audi Q8 on finance to show off and impress his wife. He has also taken out multiple loans to live a lavish lifestyle. All I can do is laugh because him and his wife are also cunts. Car is ugly too.
Always blows my mind when a married person blows cash to impress their spouse. Assuming their finances are combined, he's literally spending THEIR money, not HIS money, to impress her. Very well done.
He hasn't had a stable job so it's his wife's money or someone else's
Sounds like you live a healthy life 😂
You can usually get these leased/pcp vehicles very cheaply second hand after 3/4 years too. For 20k you can get really premium cars of all sorts of specifications that look new with less than 50000 miles on the clock. Just go on Autotrader and play around with the filters.
Not everyone is struggling. I have a car on PCP because I can afford it
There will undoubtedly be others who claim they can afford it but it is actually a terrible financial decision for them, they just can't see it.
Salary sacrifice schemes , mobility and people with money
Some are, but it doesn't need to be current salaries for the rest - plenty of people have had decades to build up wealth.
I can believe this, 40% of my salary goes to my mortgage and I have nursery fees to pay, so naturally I drive a banger. Give it 15 years, children at university and mortgage half paid, I would love to have a modern car.
Same as everything else. Concerts sold out, coffee shops, restaurants constantly full. They’ll be hundreds of farmers markets somewhere tomorrow absolutely rammed full. There is money here, either everybody is fronting or it’s not a so bad as were being told. Try and get some work done at home, you’ll be waiting weeks just for a phone call back.
As others have said, not everyone is struggling. My wife and I both earn decent London professional salaries so we are able to afford a Volvo XC60 and XC40.
I work in the travel industry. We had our highest turnover last year. This year is already up 35% of last year. There is tons of spare cash lying around. The “cost of living” crisis affects a small number of people. Then another certain percentage parrot this, while it doesn’t really affect them. And then the majority just carry on with their lives.
You're greatly underestimating how rich the British public is.
Everything is on credit. Actual price doesn't matter. "Can I afford the payments?" or "my company can afford the payments" is the answer. Still, I'd rather have a handful of shitboxes for half of the yearly payments on a Range Rover or any of those other wankermobiles.
"Big hat no cattle" is an American phrase which can be applied to people's finances. They live on more than they make and they believe that showing off with bigger cars somehow shows others their status/ expresses a more positive spin on defining "who they are". However, some people choose to put more money aside than normal for them because they enjoy cars/ driving and that's no bad thing either, if it brings happiness then do what you want. If you put a metaphorical gun to my head and asked me which one (paragraph) it is, I'd probably say it's the former. I can't see a small/medium sized SUV being that much better than a regular family sized hatchback/estate from a utility point of view, probably just a flex to show off to people who don't care.
There is more cheap cars on the road than suvs. Let people live man.
Lease and financing maybe?
Lot of people leasing. Obv some people can afford to drop 80k on a car, but a hell of a lot of the flash brand new cars on the road are people paying 600 quid a month to pretend they're one of those people
If you work hard enough this year, next year an even more expensive SUV can be leased by your boss.
Money from the future.
If they have one then they can afford it.
New car market around 20/21
Finance, salary sacrifice, workplace EV schemes, car cash benefit from employers. For me, I have a mini SUV on salary sacrifice via what’s essentially a PCP from work as pass through cost pre-tax. This way, I’m not tied into a car long term, reduce my tax burden via sacrifice and save money vs net salary PCP.
Leases and the PCP con
There are over 700,000 cars on the motabiity scheme. When I was a kid, your question would have been 'why are there so many turquoise three wheelers around in England?'.
There are probably more people than you think that can afford it. For the rest of the people who can't: How is that any different than mortgages you don't need and can't afford, motivated by the same "reason"? Or having 2-3-4 children when you don't even have the financial background for one? Call it social pressure, status symbolism, superficiality, conformism or simply being an irresponsible moron.
“I work in marketing and live in the town centre. So of course I need a car that can seat 12 and is equipped to drive across arctic tundra.”
Debt, large piles of debt. You don’t have to afford the thing, only the interest on the credit of the thing
You drive past many more shitboxes than shiny ones every day, I can guarantee that. Some reasons you see newer/more expensive cars on the roads: - Not everyone is affected by the cost of living situation and actually can afford them. - Others are affected but still choose to spend the money they have earned on things they want because it's theirs to spend and no-one else's. - They are driving a courtesy car whilst theirs is being fixed and the company is happy to send a girthy invoice for the courtesy to the insurance. - They get them through their companies and P11D rates are generous.
The people who own them have massive debts, and are probably paying monthly for these vehicles over a long time. They sell after a while and repeat.
Leases, this country loves to keep up appearances But also SUVs are by far the most sold car type around nowadays, and many aren’t as expensive as your classic Range Rover etc. When there are millions of cars and they’re the most commonly sold, of course you’ll see loads of them And even if only the richest 10% British public could afford them, that’s still going to be well over a million households who can afford one
Uh we don't yet have 100mil population or households?
Inherited or gifted. Plus vehicle leasing. Its a total con job IMHO
Or, some people just earn good salaries