Car Finance

[AtW]

That's because your last car was old and the fuel consumption wasn't a computer generated lie.

Like I gave a tulip if it was a sweet lie

[bobspud]

To answer your original question: Why would anyone drag the whole cost of the car out of their business account and be liable for 30% of it if they could rock up with a small deposit and take a loan out for 5-6%?

Got my toy for 0% interest paid the monthly costs while remaining under the higher rate of tax and apart from the vicious depreciation am a very happy bunny soon I get to choose if I keep it or get another one on exactly the same terms

Buying a car for cash is a dumb move.

[Paddy]

To answer your original question: Why would anyone drag the whole cost of the car out of their business account and be liable for 30% of it if they could rock up with a small deposit and take a loan out for 5-6%?

Got my toy for 0% interest paid the monthly costs while remaining under the higher rate of tax and apart from the vicious depreciation am a very happy bunny soon I get to choose if I keep it or get another one on exactly the same terms

Buying a car for cash is a dumb move.

1. Buy a car for cash and sell it to your Ltd Co at a profit.
2. Buy a car for cash and rent it out to your Ltd Co.

[bobspud]

1. Buy a car for cash and sell it to your Ltd Co at a profit.
2. Buy a car for cash and rent it out to your Ltd Co.

Or rent the damn thing on an interest free loan and just claim 40/25p per mile and it more or less pays for the car tax free if you can legitimately claim 15-25k miles per year...

No asset transfer issues or write offs or profits that need to be declared. Just a car that was fully funded pre tax...

[AtW]

Repent!!!

It's this thinkimg that got Anglo-Saxon world in debt

The only acceptable debt is mortgage and only reasonable amount

[jamesbrown]

Feck Brexit, car finance is the next tulipstorm (in the US too).

[AtW]

Feck Brexit, car finance is the next tulipstorm (in the US too).

Yup.

90% of new car buys are finance, people can't even afford used car without finance - so what would happen if half of them won't be able to get it? Used car values would plummet - that would affect amount to pay for new cars too, DOOMED!!!

[jamesbrown]

Yup.

90% of new car buys are finance, people can't even afford used car without finance - so what would happen if half of them won't be able to get it? Used car values would plummet - that would affect amount to pay for new cars too, DOOMED!!!

Absolutely. The BoE has started to make some shouty noises recently, light years beyond the curve as always. But we can rest assured that they've initiated operation "watch and wait" while they prepare Hamfist Intervention Mk I.

[AtW]

I reckon this PCP tulip will lead to even bigger misselling claims than PPI - when used values drop far more than PCP expected interesting small print clauses will kick in...

[bobspud]

Repent!!!

It's this thinkimg that got Anglo-Saxon world in debt

The only acceptable debt is mortgage and only reasonable amount

Yes but having the cash in the bank makes more sense than ploughing it into an asset that deprecates like a brick.

I agree the whole debt thing is bad but now contractors are grabbing a kick in the balls for getting into the higher bracket

Opex trumps capex.