Rule 2??????????????

@@paulkamara281 don't break rule 1

@@wounddd 🤣🤣🤣

@@wounddd 🤣🤣🤣

@@woundddexactly 😅

Or maybe you just enjoy driving cars and prefer ones that are insane? If you can afford it, do what you want and not worry about what others think in general

Utter nonsense, driving a sports car daily is so much more fun. Or an electric car is also awesome to drive.

​@@X3Vort rubbish. It is more fun but is it affordable and sustainable?

while i agree on a personal view, this doesnt work in the real world. how you carry yourself, act, what you drive etc are important for visual image and networking. if your in a professional job, a nice car can help secure deals or gain a level of respect and authority in discussions, decisions etc. without even needing to have said anything beforehand, purely because someone in the meeting saw you in the nice suit, with the nice watch and the nice car. from a personal level, i say it doesnt matter, drive what you like if it makes you happy, but in a professional world it plays a fairly large role in how successful you can be

Majority of people watching these are insecure immigrants of the UK and think they need to flex.

I did the exact same thing. Took a loan for my second car as I needed something reliable and couldn't afford a new car upfront. It was a good idea at the time - but now I'm looking for a mortgage I'll have a little less money than expected! Best thing about this way forward is I can sell the car tomorrow and pay off the loan :)

@@benjam_uk yeah that’s the same reason I went with the loan as well easy to just sell up and pay off the loan, especially when a mortgage is on the cards

@@benjam_uk I went from a old 2005 Mini Cooper to a Audi TTS and only got it while the housing market sorts itself out again, hoping the value doesn’t drop too much now they’ve discontinued the TT.

@@RICHARD10195 nice choice mate, I just bought a Corsa black edition. Cheap to run and quick enough like. Surprisingly sounds quite decent with an exhaust on. Forgot about reliability factor as soon as I got it to be honest. I’d imagine the value should stick on them? Particularly with it being an S. I was looking at them recently but didn’t realise how much they went for. Big fan of them though, I’d love a TTRS, just like a baby R8

@@benjam_uk I’d have loved the RS but they are in another price league, I got my S at a good price through a private sale. Major service cost me a good chunk of change but it should be okay now for the next few years.

Depends on the price of the car you want to buy and the deposit you have.

I tried to finance a car last year, but it didn't work out because I had a late payment on my phone bill twice. My wife and I decided to save up and buy a car, and now we have a new car fully paid for. At the end of the day, most people don't care about credit.

Instead of wasting your time saving and trying to build your credit, why not just contact a financial advisor here in the UK who could help you improve your finances through better options like stocks and ETFs? This way, you can allocate 10% of your earnings to buy items such as cars, and it can also help build your credit

Could you please explain further, Alan? I have never taken the step of getting a financial advisor, even though I have been advised to do so. I always perceived them as a burden.

Well, everything about money involves a decision: either to spend it or invest it. That's what I was taught by a team of financial advisors. They taught me the ethics and tricks to earn from stocks and ETFs, which generated over 480k in profits. I often find it amusing watching all these finance videos and realizing that none of them provide advice on finding a financial advisor who can help set up your future by teaching you these strategies

Wow, that’s inspiring! Do you mind connecting me with your advisor, please? I desperately need some assistance with my finances. The point you made, Alan, that really resonated with me is when you said, 'everything about money involves a decision: either to spend it or invest it

That’s a good thing. That way you only buy the things you actually can afford!

@@rocky7891 And you're not paying any interest!

@@rocky7891 Sort of but not really. Finance means you can buy a car that you would otherwise only have the money to pay for outright like two or three years later for example. All you're doing is similar to putting the money into a savings account for owning the car in a few years time except you also have the experience of using the car during that time. You do need to be able to afford all of the maintenance etc though right away

Thats the best way

Thats how it used to be. You hustle hard for 4 years and buy your dream car cash. Nowadays youngsters want everything instantly and get bored easy. Rushing to drive the biggest car at 18 to show off.

Dealership sees through the ones that desperate to buy the car and they just sweet talk you into the deal without looking at all the figures. I had BMW dealer refuse to sell me a approved used car because I've arrange my own finance with a broker (9% apr vs 14% they offer). I end up able to buy the car after complaint to BMW and the dealership HQ directly.

​@@badboy250984 shocking that is. What BMW dealership is that? They deserve to be named and shamed! Talk about being salty!

This is the problem of modern society. We praise incompetence and people are arrogant enough to think of someone differently based on what they drive rather than their intellect to spot a good deal from a bad one.

@@kwl189 I will give you a hint and you can search it yourself. Is a dealership near Newcastle region and the bmw franchise is something “Stone”.

Think that still comes under the bracket of living with means, if you lose your job and cant afford your bills within a month then youre not living within means.

Consider the fact that you are using the car or asset ahead of time if you finance it vs buying cash. Assume you want a new car but it takes you 2-3 years to save for it vs a 36 or even 48 month lease. You want to keep your current, old crappy car vs buying the new one to not pay the interest rate and associated fees, but in reality anything you pay above the sticker is due to you using your new car now vs in 3 years. Maybe you say you can wait it out with no problem, great, but what happens if in year 2 you have an accident and the new car could have either allowed you to avoid it altogether or offered you much better protection against injury. If you lose a limb or have some injury that requires recuperation, I don’t think you’d regret paying the interest rate on that lease…. Also, you are right: live below your means and never overextend! Limit your total payments to 40% max of your net income, 25% or lower is ideal as you can pay in advance and avoid paying the associated interest, while also leaving enough to invest or save for rainy days. Ah, also, never go into debt without having safety nets in place! 1 year of mortgage payments in cash or a liquid, low risk account allows you to sleep like a baby. The same applies for the car lease, be prepared to pay it. If you have the money to pay the car cash, don’t! Buy some property and rent it out, pay the lease with the rent and maybe some extra out of pocket, but at the end of the lease you’ll have both the car and the property. Good luck!

@@TheSoundzUK agreed always good to live within your means

@@georgealex19 I can tell you clearly know your stuff that is very good advice I especially liked the let your assets pay for your liabilities bit great explanation for how to make it work in a sensible way 👏

I agree, I currently own 5 supercars all bought cash, I would never bother with financing cars. Unfortunately, too many posers like yianni nowadays.

They should be learning this stuff in school instead of being taught to wear a frock if your names David!

​@@wingcommanderdaltonwalton67 wishful thinking. Now, people don't even know how to structure a letter these days. It's too profitable to teach them actual genuine life skills they'd use in real life such as finance literacy.

this is hard people know that you are needing to sell and pay off the settlement figure and they will try to sting u aswell cause they know your desperate

@Jiin_ But at least people know they have various options. Not every company out there are looking to sting and not every seller is desperate.

Is basically shop around until you get the best deal. I've helped my parent sell their Juke last year and WeBuy quoted 6k and after their assessment they offer 2.5k, because the guy was reving my parent's juke until smoke blows out and then say their car has a problem. Of course they walked away. Later they quoted Cazoo and they quoted 6.5k and after assessment, no issue with the car and they paid straight away. Definitely don't show or tell them you desperate to sell your car.

You frogot to include Cawow

For how much years ?? Was the car directly from Audi ?

What do u mean by broker. Who would the broker be in this instance

@@987321sam When you walk into the dealership to buy a car on finance, the dealership act as a broker and give you a finance offer. Like the video explain, dealership only have access to 1 finance company so the offer may not be good (i.e higher APR). If you able to source your own finance, you might be able to find a better deal (i.e lower APR). Broker is independent and they have access to more than 1 finance company, so they "might be" able to find you a better offer. This also means the broker might be able to find your a much lower APR on new and used car. For my example, BMW wanted 13-14% APR on a 1 years old used car on PCP, the broker manage to get 9% PCP for me on the same car. Many people don't want the hassle so they just accept whatever offer the dealership give them or the dealership knows you are desperate on buying the car, so they tend to sweet talk you into the deal.

@@987321sam Magnitude is a broker. What I don't understand is this unregulated vs regulated thing fully. Magnitude are regulated but then they're using unregulated funder to do Yiann's Urus for example?

@@Stallzyx see when it gets to this stage, this is when it confuses me I need to speakto someone in person, because even the person yawning is speaking to isn't telling the full story or comparisons. It's wild that a regulated market can use unregulated funds ???? Wtf is going on hahaha

​@@StallzyxAnything over £62,000 is technically classed as unregulated.

How long ago? Maybe those deals still exist now with such a substantial deposit but for me with like 10% deposit ish or even less the rate was 12.4%

Who did you go with to get a 3% loan? That’s well good

Yianni.......Are you reading this one?.......P

Some real basic stuff is Know you’re the area you want to buy in and buy at the right time. You also need luck.

Yeah but that's PCP... I personally don't get it, especially on new cars right now but to be fair the numbers don't work out a ton different to HP perhaps. Thing is with your Audi S5, that comes down to that particular car being a bit more desirable and also we've been in a much better market for used car prices since like early 2020. VW Up GTIs for example, couldn't find any under 15k at the moment, even ones from 2018. Meanwhile they were 13-14k new.

putting all your cash on cars is dumb unless its an appreciating classic car. Finance makes sense. Either that or get a 3,000 car

🙌🏼

Can you explain that further please, I don’t understand where the £520.76 comes from?

@@Nsha611 most likely due to the loan reducing after each payment which effects the APR amount as this is based on a yearly figure.

Haha gangsta 😂

I thought they worked it out flat rate no? 10% on the purchase

Where do you find a 0% pcp

@@imikez3815 dealer had an offer on

Any finance broker will know that question very well as anyone with a decent credit rating will get a better deal from a Bank than a Car Finance provider. Not in his interest to answer / Bank loans have lower credit limits and won’t be suitable for bigger purchases.

I like your thinking. Please explain more. So when you mean keep it for 12 months max, what do you mean? do you trade it in or sell it private? and you are 10000% right ton the less millage

US car credit market is like 10 years infront of the UKs, finance for cars only really became popular due to product availability after 2010

@@jaykhan1535 wow good to know

Very much depends to be honest, there’s plenty of new cars from normal manufacturers around for low interest or even 0% when they’re doing deals

US also sent the world into recession with excess borrowing and livinh beyond means. Most people couldn't afford monthly payments on homes this affected cars too. Banks in UK do 3% for excellent credit. Finance companies charge more

Mortgage? Phone? education?