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InlikeFlynn

Uk Car Sales End Record-Breaking Run

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First fall in new car registrations for a while. Is the nice supply of deposits from PPI payments coming to an end or is it a sign of a more general recession on the way? I can't believe it's all due to the VW story.

www.telegraph.co.uk/finance/newsbysector/transport/11976688/UK-car-sales-end-record-breaking-run-in-wake-of-VW-scandal.html

Edited by InlikeFlynn

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This is running on the MSM after highlighting the drop in VW sales.

Is this the first sign of a downturn?

Personally don't think so because

The car manufacturers have been massively over producing for years, we have a couple of C class Merc coupes old run out models good specs on £220 a month leases but don't need any others probably same as most businesses

Cars massively reliable

Youngsters don't have an ambition to own a car

There are 30 million + cars registered already the market is saturated

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Personally don't think so because

The car manufacturers have been massively over producing for years, we have a couple of C class Merc coupes old run out models good specs on £220 a month leases but don't need any others probably same as most businesses

Cars massively reliable

Youngsters don't have an ambition to own a car

There are 30 million + cars registered already the market is saturated

+1

Tomorrows housing market? ;)

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Personally don't think so because

The car manufacturers have been massively over producing for years, we have a couple of C class Merc coupes old run out models good specs on £220 a month leases but don't need any others probably same as most businesses

Cars massively reliable

Youngsters don't have an ambition to own a car

There are 30 million + cars registered already the market is saturated

Try 'dont have the money'.

I think the word 'Sale' in the title is a bit misleading.

Maybe 'Slump in the number of morons taking out finance to pay for depreciation on leased car' would be more apt.

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Try 'dont have the money'.

I think the word 'Sale' in the title is a bit misleading.

Maybe 'Slump in the number of morons taking out finance to pay for depreciation on leased car' would be more apt.

My car only has a 'value' of £200....it is worth £2000 + to me. ;)

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Arnt most of the cars on the road lease/HP etc,I know a car trader,all his cars are sold on credit,Il stick with my 01 yaris for a grand 2 years motoring so far and only spend £250 on service parts to date.

Leave the smug Beema merc drivers chucking money down the drain every month,then after 3 years you hand the car back and the man spends an hour with a clip board and pen scrutinising every panel on it to take you for more money!

My dad worked out how much he had spent on cars in his life.... £75k,and what was his last car? a crappy Vauxhall omega I sold for £600.00 he paid £6k for it 4 years prior,worst thing you can spend on.

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Arnt most of the cars on the road lease/HP etc,I know a car trader,all his cars are sold on credit,Il stick with my 01 yaris for a grand 2 years motoring so far and only spend £250 on service parts to date.

Leave the smug Beema merc drivers chucking money down the drain every month,then after 3 years you hand the car back and the man spends an hour with a clip board and pen scrutinising every panel on it to take you for more money!

My dad worked out how much he had spent on cars in his life.... £75k,and what was his last car? a crappy Vauxhall omega I sold for £600.00 he paid £6k for it 4 years prior,worst thing you can spend on.

+!

You can get a new car now for not much difference than a full sky package. This will come with a big warranty too. Second hand market is loaded with loads of brilliant Japanese cars too. People driving a round in big flashy "often German"cars are just throwing tenners out the window. Motoring has never been so cheap.

A friend of mine once said if you really want to learn about cars buy a vauxall becuase you spend most fo your time touring around looking for parts to keep it going.

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http://www.disabledgo.com/blog/2015/03/more-than-100-a-week-losing-their-motability-vehicles-thanks-to-pip/

'More than 100 disabled people every week are losing their Motability vehicles after being assessed for the government’s new disability benefit, the charity has confirmed.

The figures appears to confirm fears that the replacement of working-age disability living allowance with the new personal independence payment (PIP) would see at least 100,000 disabled people lose their Motability car.

Some estimates have suggested that as many as 180,000 DLA claimants could eventually be forced to give up their Motability vehicles after being reassessed for PIP.'

https://en.wikipedia.org/wiki/Motability

'Over 600,000 customers currently choose Motability for their mobility needs...

The largest fleet operator in Europe and the largest supplier of used cars in the trade, Motability Operations is owned by four major clearing banks – Barclays, Lloyds TSB, HSBC and the Royal Bank of Scotland.

Motability Operations’ annual turnover is around £990 million with assets worth £2.5 billion. Any surpluses are continually reinvested in the business. Motability Operations sells over 130,000 used cars a year and the company's car purchases account for approximately ten percent of total new car sales in the UK. Since the Scheme started, over three million cars have been supplied.'

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+!

You can get a new car now for not much difference than a full sky package. This will come with a big warranty too. Second hand market is loaded with loads of brilliant Japanese cars too. People driving a round in big flashy "often German"cars are just throwing tenners out the window. Motoring has never been so cheap.

A friend of mine once said if you really want to learn about cars buy a vauxall becuase you spend most fo your time touring around looking for parts to keep it going.

Gosh Vauxall's are terrible arent they.Iv had my 05 Pug for 5 years now.Had to change the clutch two months ago (100k) but engine is now better than when new.Spend on average £250 a year on replacing things.Il probably go for a good Japanese car next time as the new diesel's cost too much when they get old.

People in my street have an Audi on lease and their own old car.Iv noticed when they have guests they park the old car around the corner,says it all :lol:

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When I recently bought a new car I was offered a PCP deal over 4 years with finance at 3.5% APR ... astoundingly low.

They seemed amazed when I still insisted on paying outright. I pointed out that since I was getting 1% max on the money if it were sitting in the bank, even 3.5% represented a 2.5% cost to me that I wasn't about to pay.

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Buying a new car at regular intervals is the best way of throwing money down the drain (other than buying overpriced property just before a crash), either buy something new & run it for years or go down the bangernomics route. Too many people fall into the trap of seeing their car as a status symbol rather than as a means of transport (bit like houses....) & that's an expensive trap to fall into.

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Not what it looks like....more about what it can do for you, less spent on extravagant flashy ways of getting from a to b the more that can be spent on more important things in life....and that is not paying extortionate rent of any kind. ;)

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Lowest PPI monthly payouts since Sep 2011 in August 2015, although they were not that much down on Aug 2014 which I assume is a quieter month for payment processing.

2012 was the year PPI refunds really got going so perhaps there should be a decent amount of PCP stock taken out on 3 year deals being returned from now on, also 2 year deals from 2013 of course. Is a typical PCP term 2 or 3 years?

https://www.fca.org.uk/consumers/financial-services-products/insurance/payment-protection-insurance/ppi-compensation-refunds

Dunno the industry so can't say much more. Their ought to be plenty of used stock around at present, and freebie newspapers have been awash with finance deals at all price points in recent years, presumably to suit all sizes of PPI redress, so I dunno how all this returned stock will find a home while maintaining the high cost of finance purchase.

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Arnt most of the cars on the road lease/HP etc,I know a car trader,all his cars are sold on credit,Il stick with my 01 yaris for a grand 2 years motoring so far and only spend £250 on service parts to date.

Leave the smug Beema merc drivers chucking money down the drain every month,then after 3 years you hand the car back and the man spends an hour with a clip board and pen scrutinising every panel on it to take you for more money!

My dad worked out how much he had spent on cars in his life.... £75k,and what was his last car? a crappy Vauxhall omega I sold for £600.00 he paid £6k for it 4 years prior,worst thing you can spend on.

I've got a new car on order. It is a BMW 120d Sport for 3+23x£235. That comes with a warranty for the duration which is peace of mind in itself and I'll save maybe 10mpg over my current/last car a Mercedes C250 AMG Sport estate (3+23x£346) so saving quite alot of money and still doing my bit for the economy :). Annoying my car was keyed last week and that was a very expensive repair bill other than that I've only had to fork out for four new tyres.

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I also read recently (in the wake of the VW scandal) that something 80% of the loans to finance these deals are provided via FLS and QE - i.e. the car industry is being funded by printed money.

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Longtom.....

How does `peace of mind` and getting your car keyed tie up?

They don't. I'm gutted. Falling at the last post too as it's going back in a few weeks. Other than this incident (which I'm fairly sure I can prevent by installing CCTV and not parking it on the road - nutter resident) it's been a pleasant ownership.

I had ordered my new car before this happened. In hindsight I'd have gone for something else (cheaper lease deal).

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the EURGBP rate is currently making sales here of cars made in EU zone quite attractive to manufacturers

if volumes are falling they may well subsidise the sales here to drive volume with tempting finance and other offers - as someone else pointed out, with 'free' money that they have access to via ECB / BoE

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I also read recently (in the wake of the VW scandal) that something 80% of the loans to finance these deals are provided via FLS and QE - i.e. the car industry is being funded by printed money.

Mentioned on HPC in 2013.

When the ppi scandal broke out, I thought it sounded too perfect. It was a conduit to get QE money into the economy. The Work created, finding these people creates jobs and keeps the value of QE money underpined. We can't just write out cheques, work must be done first.

http://www.housepricecrash.co.uk/forum/index.php?/topic/188599-banks-efforts-to-clean-up-ppi-scandal-spawned-new-industry-and-created-20000-uk-jobs/#entry909278899

Shame we can't have a scrappage scheme for steel bridges and buildings - we saved the car and loan industry with the car scrappage scheme, and PPI, but not the steel producers up North!

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