Debt is bad... Debt is bad...
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  1. #1

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    Default Debt is bad...

    New car registrations have hit a record high but the industry may be head for trouble down the road

    Never, it seems, has the British public’s love affair with the motor car been so intense. Figures out last week revealed sales of new cars in the UK at an all-time high.

    Registrations – a proxy for sales – showed that the keys to 2,633,503 new cars were handed over in 2015, a 6.3pc annual increase and the fourth consecutive year of growth, breaking the previous record set in 2003.

    Private buyers clocked up a 2.5pc increase in purchases, but it was growth among fleet and business buyers – who made up half of all sales – that was most noteworthy, up 11.8pc.

    The industry’s impressive performance has been driven by a unique set of global and national factors.

    A major one is the way in which people now buy cars. About four in five new cars are bought with financing packages, and three-quarters of these are personal contract plans (PCPs).

    Source: Is it time for the car industry to ease off the gas? - Telegraph

    FFS, they ain't selling cars, they are selling financial packages!

    At the same time some cars that are actually worth buying are made in very limited numbers or (at best) you have to wait for years or pay high premium to the "flippers"

  2. #2

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    So there you have it - taxation is so high people can't even afford to buy a car for cash, nevermind average house!

  3. #3

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    When borrowing money is almost free (the ZIRP effect), why save up and wait?

    Have all your tomorrows today!

  4. #4

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    Quote Originally Posted by DimPrawn View Post
    When borrowing money is almost free (the ZIRP effect), why save up and wait?

    Have all your tomorrows today!
    The boomers have been borrowing from the future.

    And now the future wants it back....
    Fight HMRC now! Help sue HMRC individual officers/government ministers for malfeasance in office. Visit https://www.loanchargejustice.com/ and scroll to the bottom of the page to donate.

  5. #5

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    Quote Originally Posted by BrilloPad View Post
    The boomers have been borrowing from the future.

    And now the future wants it back....
    Boomers don't give a stuff. They will write a big cheque for all the loverly money and put it in their coffins when they go.

    PS. I am not a boomer. I'm Generation X.

  6. #6

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    Quote Originally Posted by DimPrawn View Post
    PS. I am not a boomer. I'm


    FTFY

  7. #7

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    The good news is after years and years and years of being shiiit scared of checking my credit score I finally plucked up enough courage to do the Experian thing (Noodle said it couldn't do me for some reason).

    I got 999 out of 999!

    I need some debt - anyone need any by proxy?

  8. #8

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    Quote Originally Posted by stek View Post
    The good news is after years and years and years of being shiiit scared of checking my credit score I finally plucked up enough courage to do the Experian thing (Noodle said it couldn't do me for some reason).

    I got 999 out of 999!

    I need some debt - anyone need any by proxy?
    Setup a payday loan company. Borrow at close to zero % and lend at 999999999999999999% APR

    That's the UK growth industry.

  9. #9

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    Who's that Avatar Stek? Looks just like my loony brother.
    bloggoth

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  10. #10

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    Quote Originally Posted by xoggoth View Post
    Who's that Avatar Stek? Looks just like my loony brother.
    It's me lol! With a protest Syrian Flag that fell on deaf ears...

    My daughter did it as a sort of FB France reaction thing, it is still my FB pic..

    Five year old pic tho, all I/we could do in the short 'I was annoyed' timescale. I put weight on since but lost it again so proxy same!

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