Re:Why almost everyone was wrong about Tesla’s cash flow sit...
by ljf on Friday October 26, 2018 @11:09AM
(#18309913)
Really not sure (I've always driven 'bangers' that are at least 11 years old) - but shocks me to see friends buying new cars.
That said a number seem to be:
* Company cars
* Bought as part of 'own company'
* Leased
* Hired
* Hire/purchase
Then a lower number:
* Bought with autofinance
* Bought with a bank loan
* Bought on a CC
Very few (if any) are bought in cash. I remember my father (who has never been a rich man) buying his car in cash, (£10,000 in 1996) with the plan that this would last him. It did for 13 years.
I was shocked when my brother bought a new van recently - but at less than £200 a month, it worked out less than buying a banger and having to fix it - he needed a van for his job, so can't afford to have a day or days without a working vehicle. I think that is what it comes down to for most people who do buy new. 'Perception' of vehicle less likely to breakdown.
That said a number seem to be:
* Company cars * Bought as part of 'own company' * Leased * Hired * Hire/purchase
Then a lower number: * Bought with autofinance * Bought with a bank loan * Bought on a CC
Very few (if any) are bought in cash. I remember my father (who has never been a rich man) buying his car in cash, (£10,000 in 1996) with the plan that this would last him. It did for 13 years.
I was shocked when my brother bought a new van recently - but at less than £200 a month, it worked out less than buying a banger and having to fix it - he needed a van for his job, so can't afford to have a day or days without a working vehicle. I think that is what it comes down to for most people who do buy new. 'Perception' of vehicle less likely to breakdown.