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One In Five New Cars In The Whole Of Europe Is Now Registered In The Uk

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Britain's booming car industry has roared ahead of its rivals. In total, 872,104 new cars were registered in the first three months of this year. Latest figures show that 530,000 cars were made in the UK in the year to April, of which 135,000 were for sale in this country – a rise of almost 20 per cent. http://www.dailymail.co.uk/news/article-3123559/Britain-motoring-One-five-EU-s-new-cars-registered-UK-2015-starts-strongest-sales-decade.html

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And all leased - even the deposit is leased.

Does that the UK:

a) The richest, successful EU country?

B) A bunch of debt addicted idiots?

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My dad has just ordered a new car getting it later this month. He has got thousands in the bank but he is taking up credit because it's cheaper than paying cash.

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Leasing can make sense, but it does appear to lock individuals into renewing the car every 3 years, which in a sense is great for perpetual demand. At least it will be helping the European car manufacturers.

Although buying a new car with the cost of housing means leasing is probably the only option.

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My dad has just ordered a new car getting it later this month. He has got thousands in the bank but he is taking up credit because it's cheaper than paying cash.

yup, Even the frugal & well off are being sucked into the debt car ponzi.

I know a guy who was considering buying a £4000-5000 used prius as he had a a 50 mile daily commute as his £500 old car was giving up.

He said that he had never paid over £2k for a car.

Then changed his tune , he considered Ieasing a Nissan Leaf Ev, but as he was in the auto trade Vw let his small biz lease a 2015 vw polo for £100 +vat a month over 6 yrs (normally £125)

I asked him , why the sudden change ?

He said Vw made him an offer he could not refuse :rolleyes:

I talked to another guy in the auot trade who's leased cars before, he just had a Nissan Leaf based Ev E-N200 van demo for a week, they are desperate to shift em , he says.

He says many people get caught out by low milage conditions on leased cars. it's 10p a mile if you go over it.

Edited by Saving For a Space Ship

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It would help if our railways didn't cost the earth to use tbh.

A lot drive simply because public transport isn't a cost effective alternative.

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Other people's insatiable desire for bling and willingness to borrow for it keeps older cars cheap for the rest of us, happy days!

I bought a car for less than I earn in a day 7 months ago and it's still going strong 14,000 miles later.

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It would help if our railways didn't cost the earth to use tbh.

A lot drive simply because public transport isn't a cost effective alternative.

+1

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Britain's booming car industry has roared ahead of its rivals. In total, 872,104 new cars were registered in the first three months of this year. Latest figures show that 530,000 cars were made in the UK in the year to April, of which 135,000 were for sale in this country – a rise of almost 20 per cent. http://www.dailymail.co.uk/news/article-3123559/Britain-motoring-One-five-EU-s-new-cars-registered-UK-2015-starts-strongest-sales-decade.html

So a large number of the cars made are for export? ( a good thing surely?)

By the way, the UK still lags behind Spain in terms of the total number of cars manufactured (and then exported). Probably a greater number sold within the UK though.

"Car factories operating in Spain produced nearly one million units in the first four months of 2015, up 12.5% from a year earlier."

http://www.thecorner.eu/spain-economy/car-manufacturing-spain-12-6-q1/45947/

Is it a good thing to have a high number of cars manufactured within the country? I'm assuming it is, but maybe there is an argument that we should concentrate more on (financial) services? ;)

Edited by Trampa501

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Other people's insatiable desire for bling and willingness to borrow for it keeps older cars cheap for the rest of us, happy days!

I bought a car for less than I earn in a day 7 months ago and it's still going strong 14,000 miles later.

Totally agree. I look forward to buying ultra-cheap used cars in the years to come and it's very nice of the British public to take care of the depreciation for me. Also one of the advantages of the UK being right hand drive - they can't sell them elsewhere. So with high new sales and no competition from the rest of Europe for used sales (bar Ireland and Cyprus), second hand car prices in the UK must be almost the cheapest in Europe. Having said that, I have two cars, one 10 years old and just bought a 15-year old sports car for buttons, and they're both in extremely good condition and have years left in them.

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And all leased - even the deposit is leased.

Does that the UK:

a) The richest, successful EU country?

B) A bunch of debt addicted idiots?

You have to do a lot of digging to find out the price of a new car these days as the only prices quoted are monthly payments on the never never.

When I last bought a new car, two or three years ago, dealer discounts were linked to finance deals, so you had to take out a loan to get the £3K or £4K discount and then pay off the outstanding amount after a month.

Companies no longer need to make a profit on goods they make, the profit is in the finance........... crazy.

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My dad has just ordered a new car getting it later this month. He has got thousands in the bank but he is taking up credit because it's cheaper than paying cash.

..yes ...but a new car depreciates faster than cash in the Bank ....money 'down the swanee'...as soon as it's off the garage forecourt it loses 20% on average ..and in 2/3 years as much as 40 - 50%....good time to buy second hand 3/4 years....more so if you do a low mileage..IMHO.... :rolleyes:

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It would help if our railways didn't cost the earth to use tbh.

A lot drive simply because public transport isn't a cost effective alternative.

Yeah I'm pondering leasing a car.

My monthly rail season ticket is just over £200 beans, even leasing a car makes reasonable sense when you're paying that much for public transport.

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Leasing can make sense, but it does appear to lock individuals into renewing the car every 3 years, which in a sense is great for perpetual demand.

You can always buy it at the end of the lease. Or, if the depreciation is lower than expected, you can sell it at the end of the lease, and pocket the difference.

The big problem with leasing in the UK is presumably that depreciation is much higher than in many other countries, so you're paying for the most expensive part of the car's life.

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..yes ...but a new car depreciates faster than cash in the Bank ....money 'down the swanee'...as soon as it's off the garage forecourt it loses 20% on average ..and in 2/3 years as much as 40 - 50%....good time to buy second hand 3/4 years....more so if you do a low mileage..IMHO.... :rolleyes:

A pound saved after the age of 70 is a pound wasted. He's 82

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Yeah I'm pondering leasing a car.

My monthly rail season ticket is just over £200 beans, even leasing a car makes reasonable sense when you're paying that much for public transport.

Go for it mate.

The cost of rail travel is why most I know lease.

This is south of England (and folk working around the outskirts of London).

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i am waiting for good value 4 or 5 year low millage to appear on the market.

Just last month i started to notice price falls . i am hoping this will carry on.

Other than that i will keep going with my 10year old car till its not worth repairing it.

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