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padders

Mew ... For Cars.

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I was up in London today looking for a place (to rent) and looking through Loot. On the back page I found the funniest advert. Basically the company will give you a cheque for half the value of your car. As they then say, "We keep the log book, you keep the car", clearly you then pay the loan back.

Now this made me laugh, but then I realised this is very much* what MEW is. The next time somone goes on about MEWing, ask them if they are also considering doing the same with their car.

* I realise that a car is a depreciating asset, but a house can be as well. Secondly, the value of the car is the 2nd hand value, after 4 or 5 years a car does not depreciate in value very rapidly. So really, this "equity withdrawl" is identical to that of the MEW.

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I saw a TV ad for the same thing a few months ago

"release the equity on your car!"

:blink:

You've got to admire these vultures though.

We're heading towards the endgame I think.

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Maybe there is a business plan in this, what is the typical persons next biggest asset? Got a valuable computer sitting under your desk, why not release its equity.

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Maybe there is a business plan in this, what is the typical persons next biggest asset? Got a valuable computer sitting under your desk, why not release its equity.

How about releasing the equity in your money? What you could do is, if you have a whole lot of money in the bank account, a lender could then loan you the same amount of money that you have in the bank which you could then spend however you wanted. And even after you'd spent the loan, you'd still have your money in the bank.

Billy Shears

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Maybe there is a business plan in this, what is the typical persons next biggest asset? Got a valuable computer sitting under your desk, why not release its equity.

Own a pedigree Persian? Then why not MEW your cat?

Is anyone able to offer a loan against my equity in a bottle of Holt's Maple Moon ("Full bodied night time pleasure with a twinkle of maple")? You keep the label, I keep the bottle.

Edited by Jeff Ross

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I think if you go along to Cash Converters you will find that they offer car equity release.Must admit those shops are pretty strange!

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With the price of petrol rising it may be possible to get a loan secured against the petrol in your car. Perhaps you can use the loan money to re-fill the car when you have used all the petrol. Petrol is an appreciating asset after all, prices can only go up.

I think if you go along to Cash Converters you will find that they offer car equity release.Must admit those shops are pretty strange!

I have never understood how those places can make enough money to cover their costs, just shows how crap a deal you must get. Is those shops that do nothing but cash cheques for people I have never undersood, they can make enough money on cashing a cheque and saving people the 4 days it takes to clear? Em.

Edited by padders

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Louis Winthorpe III:Fifty bucks?! No, no, no. This is a Rouchefoucauld. The thinnest water-resistant watch in the world. Singularly unique, sculptured in design, hand-crafted in Switzerland, and water resistant to three atmospheres. This is *the* sports watch of the '80s. Six thousand, nine hundred and fifty five dollars retail!

Pawnbroker: You got a receipt?

Louis Winthorpe III: Look, it tells time simultaneously in Monte Carlo, Beverly Hills, London, Paris, Rome, and Gstaad.

Pawnbroker: In Philadelphia, it's worth *50* bucks.

Louis Winthorpe III: Just give me the money

with apologies to 'Trading Places' (for the non film fans out there)

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Maybe there is a business plan in this, what is the typical persons next biggest asset? Got a valuable computer sitting under your desk, why not release its equity.

Own a pedigree Persian? They why not MEW your cat?

Is anyone able to offer a loan against my equity in a bottle of Holt's Maple Moon ("Full bodied night time pleasure with a twinkle of maple")? You keep the label, I keep the bottle.

I'm ready to MEW my left kidney.

btp

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I'm ready to MEW my left kidney.

btp

You may laugh but there have been suggestions that people should be able to do this, ie you get paid for signing up as an organ donar.

Personaly I think organ donation should be opt out instead of opt in to solve the problem, but pre-pay is an alternative :)

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Next you will have to MEW for Fuel for the car

http://cars.msn.co.uk/carnews/bp102may06/

The company’s new high-octane formulation, BP Ultimate 102, costs £2.42 a litre, a staggering £11 per gallon, but the company claims the power boost for high-performance cars make the fuel well worth it. The 102 refers to the fuel’s octane rating of 102 RON, higher than the 97 RON BP Ultimate unleaded and roughly equivalent to the old-style five-star leaded fuel sold in the 1970s. The petrol is hand-made to the same standards as the fuel used in World Rally Championship and Formula One cars.

What a joke

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Why don't you MEW your time?

I mean, a bank can lend against your life. You borrow, then spend the next 5 years working trying to pay it back. Will that work?

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I have never understood how those places can make enough money to cover their costs, just shows how crap a deal you must get.

I dunno. Occasionally they seem to be misinformed about what something is worth, and as a seller you get a bargain. For example, I bought an Olympus OM10 with manual adapter and 50mm lens from a second-hand shop about ooohh... 15 years ago... for the bargain price of 50 quid.

Sold it a couple of years ago to cash converters for 35 quid to go digital. That's 1 pound a year it's cost me to own that camera! Not bad!

I bet they got stung buying up people's 35mm cameras a few years ago. Their stock levels were a little embarrassing...

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Why don't you MEW your time?

I mean, a bank can lend against your life. You borrow, then spend the next 5 years working trying to pay it back. Will that work?

Banks becoming pimps

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With the price of petrol rising it may be possible to get a loan secured against the petrol in your car. Perhaps you can use the loan money to re-fill the car when you have used all the petrol. Petrol is an appreciating asset after all, prices can only go up.

I have never understood how those places can make enough money to cover their costs, just shows how crap a deal you must get. Is those shops that do nothing but cash cheques for people I have never undersood, they can make enough money on cashing a cheque and saving people the 4 days it takes to clear? Em.

Well it`s not cheap to buy a Cash Converter franchise.In real terms about £250k available cash is required if you factor in available funds to cash cheques,and some of these may well be dodgy ones.Also there are ongoing franchise costs,rent.staff business rates and so on.However if the economy goes tits up then maybe it will be a great place to off load all the gee gaws that folks have built up to pay the mortgage!

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The guy in my local petrol station keeps asking me if I want 'cash back'. Does this quality as mewing on the contents of my petrol tank?

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I was up in London today looking for a place (to rent) and looking through Loot. On the back page I found the funniest advert. Basically the company will give you a cheque for half the value of your car. As they then say, "We keep the log book, you keep the car", clearly you then pay the loan back.

Now this made me laugh, but then I realised this is very much* what MEW is. The next time somone goes on about MEWing, ask them if they are also considering doing the same with their car.

* I realise that a car is a depreciating asset, but a house can be as well. Secondly, the value of the car is the 2nd hand value, after 4 or 5 years a car does not depreciate in value very rapidly. So really, this "equity withdrawl" is identical to that of the MEW.

Trade car values are still in freefall IMHO - 03 Citroen Xsaras, 1 owner, fsh, 20K miles £2200 :o

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I saw a TV ad for the same thing a few months ago

"release the equity on your car!"

:blink:

You've got to admire these vultures though.

We're heading towards the endgame I think.

Its pretty much scraping the bottom of the barrel when you have to offer secured MEW on a car. Don't people want to risk their homes for a holiday anymore? (I would much rather my old banger got repossessed than a house)

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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