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How do young people get so much money?

Where I live I see people driving 40k cars while they're only in their late 20s/early 30s. No they're not used, they're 64 plate cars and they are driven by young people, how do they do that?

Even if you start a job at 26k after graduation and quickly get yourself to 35k, it'll still be hard trying to afford such a car, including mortgages and what have you. Am I missing something? These people can't all be business owners or are they not saving for the future eg. pensions?

I probably sound stupid asking this but it boggles my mind on how young people can afford such things...

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:hi:This has nothing to do with this thread but this is the first thread I've ever seen you make. :mmm:

Original post by Trihawk7
Where I live I see people driving 40k cars while they're only in their late 20s/early 30s. No they're not used, they're 64 plate cars and they are driven by young people, how do they do that?

Even if you start a job at 26k after graduation and quickly get yourself to 35k, it'll still be hard trying to afford such a car, including mortgages and what have you. Am I missing something? These people can't all be business owners or are they not saving for the future eg. pensions?

I probably sound stupid asking this but it boggles my mind on how young people can afford such things...


In answer to your question though... I have no idea. Maybe the money is from parents and grandparents? :redface:
Rich parents / Rentals.
Reply 3
Avatar for Rakas21
Rakas21
21
Original post by Trihawk7
Where I live I see people driving 40k cars while they're only in their late 20s/early 30s. No they're not used, they're 64 plate cars and they are driven by young people, how do they do that?

Even if you start a job at 26k after graduation and quickly get yourself to 35k, it'll still be hard trying to afford such a car, including mortgages and what have you. Am I missing something? These people can't all be business owners or are they not saving for the future eg. pensions?

I probably sound stupid asking this but it boggles my mind on how young people can afford such things...


You can lease or get stuff on finance.
Reply 4
Avatar for Quady
Quady
20
I'm not too exceptional, turned 30 a few months ago, graduated on £28k, now on £50k.

Mortgage £520/month, I'm typically able to save £500-£750 and thats whilst overpaying my pension by £325/month (before tax relief).

If I wanted to I guess I could have a car instead of the savings via a final deal.
Rich parents, financing the car or renting the car. A guy on my road has new cars every week and he rents them :smile:
Reply 6
Avatar for Trihawk7
Trihawk7
OP
21
Original post by Rakas21
You can lease or get stuff on finance.


The deposits for leasing is still like 6k... htf can you save that **** up? then add in the monthly... Or finance, the monthly is even higher...

Original post by Stefano93
Rich parents / Rentals.


Not everyone can have rich parents... Rentals can be true but still, not every car can be a rental
Reply 7
Avatar for JD8897
JD8897
9
I know someone who had a Bmw when they were 18, not sure how much a 3 series convertible costs but it was just because their parents are millonaires, i expect that is usually the case
Original post by Trihawk7
The deposits for leasing is still like 6k... htf can you save that **** up? then add in the monthly... Or finance, the monthly is even higher...



Not everyone can have rich parents... Rentals can be true but still, not every car can be a rental


Some young people who have parents or know business owners just buy the car and claim it as a business asset. So technically they aren't copping the whip straight. I know a few people who have bought AMG's, R8/TTs via this.
Reply 9
Avatar for Quady
Quady
20
Original post by Trihawk7
The deposits for leasing is still like 6k... htf can you save that **** up? then add in the monthly... Or finance, the monthly is even higher...


Spend less than you earn for a year.
Original post by Quady
I'm not too exceptional, turned 30 a few months ago, graduated on £28k, now on £50k.

Mortgage £520/month, I'm typically able to save £500-£750 and thats whilst overpaying my pension by £325/month (before tax relief).

If I wanted to I guess I could have a car instead of the savings via a final deal.


Whats your job title?
Original post by Trihawk7
Where I live I see people driving 40k cars while they're only in their late 20s/early 30s. No they're not used, they're 64 plate cars and they are driven by young people, how do they do that?

Even if you start a job at 26k after graduation and quickly get yourself to 35k, it'll still be hard trying to afford such a car, including mortgages and what have you. Am I missing something? These people can't all be business owners or are they not saving for the future eg. pensions?

I probably sound stupid asking this but it boggles my mind on how young people can afford such things...


Most likely they get it from their parents.
But who cares really? These people are totally useless, they will soon figure out that an expensive sports car is a liability not an asset.
Original post by Stefano93
Some young people who have parents or know business owners just buy the car and claim it as a business asset. So technically they aren't copping the whip straight. I know a few people who have bought AMG's, R8/TTs via this.


What do you mean by claim it as a business asset?
Reply 13
Avatar for Trihawk7
Trihawk7
OP
21
Original post by Stefano93
Some young people who have parents or know business owners just buy the car and claim it as a business asset. So technically they aren't copping the whip straight. I know a few people who have bought AMG's, R8/TTs via this.


Fair point actually

Original post by Quady
Spend less than you earn for a year.


But how, these people seem to buy pretty expensive stuff themselves like wearing RalphL clothing, shoes, etc. Their upkeep seems to be very high to keep that type of lifestyle.

Bear in mind I don't live anywhere like London where graduates are immediately given something like 30k after graduation, the normal where I live is something like 22k but I just gave the benefit of the doubt.
Original post by Trihawk7
Where I live I see people driving 40k cars while they're only in their late 20s/early 30s. No they're not used, they're 64 plate cars and they are driven by young people, how do they do that?

Even if you start a job at 26k after graduation and quickly get yourself to 35k, it'll still be hard trying to afford such a car, including mortgages and what have you. Am I missing something? These people can't all be business owners or are they not saving for the future eg. pensions?

I probably sound stupid asking this but it boggles my mind on how young people can afford such things...


Financing/leases/trust funds/parents. Just because they have these fancy cars doesn't necessarily mean they're living a comfortable life.
Original post by Quady
I'm not too exceptional, turned 30 a few months ago, graduated on £28k, now on £50k.

Mortgage £520/month, I'm typically able to save £500-£750 and thats whilst overpaying my pension by £325/month (before tax relief).

If I wanted to I guess I could have a car instead of the savings via a final deal.


When are the millions going to turn up?
(edited 9 years ago)
Original post by Trihawk7
Fair point actually



But how, these people seem to buy pretty expensive stuff themselves like wearing RalphL clothing, shoes, etc. Their upkeep seems to be very high to keep that type of lifestyle.

Bear in mind I don't live anywhere like London where graduates are immediately given something like 30k after graduation, the normal where I live is something like 22k but I just gave the benefit of the doubt.


1.Ralph Lauren is not even that expensive
2.If you do not have any financial responsibility, then it is not a hard lifestyle to live
3.You have young people working in trades that do not require a degree and are making an above average income

Reply 17
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Trihawk7
OP
21
Original post by Blue_Mason
1.Ralph Lauren is not even that expensive
2.If you do not have any financial responsibility, then it is not a hard lifestyle to live
3.You have young people working in trades that do not require a degree and are making an above average income



1. £40 for a shirt, £145 for a pair of jeans isn't expensive? Do you have financial responsibility?
2. Of course you get one every once in a while but not everyone is that careless with finances.
3. Not everyone can be them people.
Reply 18
Avatar for Quady
Quady
20
Original post by Trihawk7
Fair point actually



But how, these people seem to buy pretty expensive stuff themselves like wearing RalphL clothing, shoes, etc. Their upkeep seems to be very high to keep that type of lifestyle.

Bear in mind I don't live anywhere like London where graduates are immediately given something like 30k after graduation, the normal where I live is something like 22k but I just gave the benefit of the doubt.


Well my grad job was in Warrington, then I moved to Glasgow...
£22k would be very low for a grad scheme

£50k gives me just over £2,600 after tax a month, pension and pension over payment. Mortgage £520, bills and council tax take that down to circa £1,800. Save £800/month and you have a grand a month for food/entertainment/clothes. You can buy brands with that.
Reply 19
Avatar for Quady
Quady
20
Original post by Zenarthra
When are the millions going to turn up?


Another 30 years of inflation and my parents death?

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