Too many people are buying cars using financial products they do not understand

Re:Too many people are buying cars using financial products ... by DanBC on Saturday June 03, 2017 @01:37PM (#14477428)

From the article:

> Graham Hill, of the National Association of Commercial Finance Brokers, told the FT recently that using a PCP, drivers could pay less for a new BMW or Mercedes than for a second-hand Ford Focus. Or, as Bob the Dinosaur might put it, “they just make you sign papers!”

People don't tend to think of BMW or Mercedes as cheaper down markets cars.

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Re:Too many people are buying cars using financial products ... by vonmoltke on Saturday June 03, 2017 @03:08PM (#14477910)

Perhaps not in the UK, but in many parts of the US the leased (low-end) 3-series or C200 is the car if the so-called $30,000 millionaire (i.e., people living a lifestyle they can't actually afford by renting all the trappings).

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Re:Too many people are buying cars using financial products ... by to3m on Saturday June 03, 2017 @09:23PM (#14479445)

The lower end BMWs are not fancy cars in the UK either. I don't know if they'd class as "cheaper" or "downmarket", but the typical example probably isn't exactly the opposite either. There are a lot of 3-/4-cylinder 1-4 series on the road, and the 520d is common too. Something similar applies to Mercedes and Audi as well.

(see, e.g., https://www.whatcar.com/news/the-10-most-popular-cars-in-the...)

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Re:Too many people are buying cars using financial products ... by sugarrush on Sunday June 04, 2017 @11:50AM (#14482113)

Interestingly, lesser cylinders is spreading up the range of BMW (and other marques) and no longer an indicator of a cheap model. The 2017 330i is equipped with a 2.0-liter turbocharged four-cylinder...

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