any - new car sales part 2 credit problems to come - oldroverboy.

www.telegraph.co.uk/finance/economics/11026952/Bri...l

Interesting article relevant to consumer credit, ie cars,,,

Worth reading

Apologies if necessary

any - new car sales part 2 credit problems to come - veryoldbear

At some point there will be a perfect storm. I thank my lucky(?) stars that the mortgage is paid off and bangernomics continues out on the drive. People are going to have a nasty shock.

any - new car sales part 2 credit problems to come - gordonbennet

In a way its much easier for us older, if not wiser.

The chances are we were brought up by parents who lived within their means, couple of generations on and that aversion to credit has all but disappeared, modern and manufactured trends push the notion that old uns views are old hat, funny, probably offensive (just as current views will be in 40 years, if not tomorrow when the hymn sheet of todays page turns), to be ignored at the very least and preferaby ridiculed by trendies/luvvies (well remunerated) whose word is gospel.

We've seen and felt the devastating effects of boom and bust several times, people encouraged to spend money they don't have in order to climb up that curious ladder, the one where image is all and to live to others expectations/approval, shiney new houses on *nice estates* (wouldn't give you a thankyou), shiney new cars, foreign holidays, even credit cards with a must have brand for goodness sake etc etc.

The massive rise of media incl the printed press, and its offshoot marketing, has much to answer for, too many people are unable to think for themselves any more, and now buy vote visit drink eat wear watch read holiday do think say believe, even drive, what they are told or sold to....another aspect of this is that too few wonder who's views they are following (who owns said media calls the shots), and why.

** i especially love estates with ironic names, like Meadows...er where are the meadows?...well they used to be here under these 800 cloned barratts, or was that barracks?

Edited by gordonbennet on 12/08/2014 at 09:37

any - new car sales part 2 credit problems to come - RickyBoy

...Damn right – it's definitely a 'generational thing'.

My father told me early on 'if you can't afford it you don't have it' and by and large I've lived by that maxim. Then again, I'm from Yorksher, so not parting with it comes naturally to me!

Win some. lose some (repeat to fade...)

any - new car sales part 2 credit problems to come - Falkirk Bairn

Apart from mortgage I had no debts after 35.

2 x sons, 37 , "almost mortgage" only 20- 30% of buy price left to pay and no other debts

1 x son, 41, 50% of BP still to pay, but no other debts

I think this is due to how they were brought up.

That said they all squander cash month in/month out on "rubbish" (my definition!!) - they call it technology, fashion etc as well as wives who enjoy treats - designer handbags, shoes etc etc

any - new car sales part 2 credit problems to come - gordonbennet

as well as wives

One could write a whole book on that subject.

any - new car sales part 2 credit problems to come - Avant

It's certainly true that too many people are borrowing beyond their means, although I wouldn't agree with those who say 'you should never borrow'.

I wasn't going to do a PCP this time, but Skoda were offering 0% finance so it seemed silly not to.

Fortunately most car borrowings are at fixed rates of interest, unlike most mortgages.