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As to people spending too much of their money on leasing fancy cars, I think it might lead more people into financial difficulties in the future, and could cause a bit of a bubble?
A lot of young pwople complain that they can't get on the housing ladder but they lease two new Mercedes?
Perhaps I could have left the "like you" bit out.
It works for you and thats great, it wont always , unfortunately.
You have kept it too long when it fails and you spend a a fair bit getting it fixed and try to recoup that money and it fails again.
It isnt duping anyone , its a fact it happens .
I would hate everyone to go contract hire . There would be no market for my used contract hire vehicles ....
I'm after a 5 series, manual, petrol for under 10k. Hard work finding one. Loads of diesels about, but no good to me with the DPF as I only do short journeys.
Yeah still got the Mini, Jim. It's been parked up in the garage for 6 years. I keep saying I'll get it out and put an MOT on it every summer but never get round to it
Carrying on with this Fred Jimmy, and with the government news today, I'll be getting myself a new motor when the reg changes in March, 2 x 22 mile journeys per day, Mon to Fri, use very little on weekends, is it time for Leccy, Hybrid ?, or possibly go back to diesel as we have another 15 years before the change, currently have petrol.
Fair enough and the minute the car starts costing me money, regularly, or I jump into it in a morning with fingers crossed that it actually starts - that is when I will change it.
My mileage is going down now, so the chances are my next car will be a used car rather than new.
As for electric, I really want to go electric but it isn't quite there yet. £33,000 for a Kia something is the cheapest I can find. That is too much for a car - but the prices will drop by 2035. Either that, or the Government are going to face an almighty backlash in 2035 when a new £20,000 car is replaced by a £33,000 version that has a battery that will die in 7 years. I'm confident it won't be like that.
Johnson won't be around in 2035. Some other Government will have to face the potential issues. I hope not though, it would be great if we were all driving affordable electric cars, with 400 mile range, and a battery that was still fairly effective 10-15 years after the car was bought.
https://www.bbc.co.uk/news/uk-englan...shire-56104281
Called it.
Longer lasting cars + cheap finance deals + working from home.
Here comes an almighty bubble when no one buys for the next few years.
Add in the tax benefits for new leccy cars, and it means buying second hand makes no sense when compared to electric. I'm getting a new, highly specced Audi etron- list is about £75k. Post tax, it is going to cost me about £380 a month, including insurance, servicing, unlimited mileage etc. If I were to take a second one, it would be close to free (bizarre interaction of income tax limits and childcare).Factor in depreciation and fuel cost and it works out cheaper than my crappy 14 year old X3 which I paid £7k for 3 years ago and is worth bugger-all now.
And it gets a LOT cheaper on more standard family cars. an iD3 would cost me less than £200 a month; a Skoda Enyaq (which looks brilliant) about £250 a month. Once I got past the range anxiety thing, I'd be absolutely mental to take on a 2nd hand ICE car.
Same as air source heat pumps. It's less than 3 yrs before gas CH is banned from new build. I hope the weather's going to get a lot warmer because folk will be freezing in winter. The only way to get even the best insulated home warm enough in winter is to combine the technology with under floor heating - or have radiators the width of one wall in each room. It's also only marginally cheaper than gas
People havent been able to travel to purchase cars .
Plus they havent been able to use their own cars , I would suggest there are two good reasons cars havent been selling.
When the roads are opened up I expect the used car market to perk up.
I have got things for sale , plenty interest but no one wants to travel to see the cars.
Used vans values are through the roof , most 3 year old vans are 2-3 k more than they should be .
Is that on a contract hire Nick?
The residuals on electric cars are high at the moment , that will change as they become more main stream.
We are starting to see electric cars become available to the hire market . That will force residuals down.
Funnily enough, just had a mailshot on the Audi etron . Was thinking maybe change my C63 for one . Maybe next year ..
Surprised about the lack of positivity about electric cars, I think they are amazing!
Don't get me wrong, I can not afford one yet but it is still very early and the early signs look really promising!
The price of batteries has fallen 88% in the last decade, and this trend is continuing.
Battery's are proving to be much more robust than first feared, multiple cars have done over 500k millage on the original battery, and the general consensus seems battery quality is at a point where they will often out last the car and then be repurposed.
In terms of raw materials for batteries, yes this is a issue but, once again all these metals and minerals or recyclable, oil is not.
Electricity supply is not really a issue, Wind and solar is now cheaper! than traditional power stations, even without renewables it was still cleaner to burn coal to power electric cars, than it was to not burn any coal and continue using petrol/diesel.
but we do not even have to make that trade off now with the huge continued increases of clean wind power.
Finally it is so much cheaper to maintain for the consumer, a traditional engine / drive train has over 2,000 moving parts, a electric car has less than 20.
Ask any engineer and anything that moves is doomed to fail at some point.
General repairs will be much more rare on EV's. No turbos, no clutches, no gearbox's, no oil tanks, petrol tanks, fuel lines, oil filters, gaskets ect, ect.