Purchased my range rover at 18, any advice tips would be great. Watch

Dunnig Kruger
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#41
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#41
(Original post by AngryRedhead)
I know that if you have a very good credit rating and prior saving history with them most credit unions will let you borrow up to £15,000 torwards new purchases with quite a good interest rate to match. I’d imagine because of the more personal nature of the institution they’d be a bit more lenient in the event of change of circumstances such as a job loss than a conventional lender.

Your point about depreciation and insurance is still very much true, however. Hence why pre-used cars are the better option if you have to buy big and fancy. Let someone else take the financial hit
So did Mr Cole shop around for the best finance deal? Or did he go with the package offered by the dealer?
What happens when he misses three months in a row with whatever deal he's got?

Coming back to the why aren't you congratulating me thing:
A working Joe teenager spending 20k on a house deposit would be impressive. And so would investing 20k in a viable business venture.
But spending 20k on a nearly new car, regardless of how nice the car is: that doesn't deserve congratulations, that deserves commiseration.
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It's****ingWOODY
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#42
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(Original post by Bio 7)
Why would you want white?
It's a Range Rover, why wouldn't you want white?

@ OP, you're statistically highly likely to be involved in some sort of accident at your age, try to buck that trend and be careful with your new toy.
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It's****ingWOODY
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#43
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(Original post by AngryRedhead)
I don't see how one person's stupidity is applicable to all owners of financed cars? If a student is too dumb to realise they don't earn enough to be able to afford £300+ every month to pay down a £20,000 car it's hardly the fault of the lenders is it?
PRSOM. If you're s*** at working out your own finances then that's on you and is solely your fault.
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Anagogic
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#44
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Based on what you've said I doubt you're on more than £24,000. I'm guessing you're still living with your parents given that you're financing this car which must be £500 per month. Not a wise move, understand how to manage your finances better and get rid of that car asap as it's already lost 20% of its original value.
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Palmyra
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#45
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Most cars are not good investments but terrible liabilities whose value depreciates hugely from the moment you buy it. Then the insurance costs and interest on your repayments - yikes.


So you want praise for making dumb decisions...?
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Dunnig Kruger
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#46
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(Original post by It's****ingWOODY)
PRSOM. If you're s*** at working out your own finances then that's on you and is solely your fault.
Yeah but there is the ethics of sales. Which the BBC article was driving at.
There's no such thing as a great deal on the wrong car.

A nearly new Audi A1 is the wrong car for a student with a part time job.
A 3 year old Range Rover Evoque is the wrong car for a working Joe teenager.
In both cases the dealer should make the buyer aware of more suitable cars, even if they then go ahead and buy the unsuitable car anyway.
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cherryred90s
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#47
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(Original post by Dunnig Kruger)
Yeah but there is the ethics of sales. Which the BBC article was driving at.
There's no such thing as a great deal on the wrong car.

A nearly new Audi A1 is the wrong car for a student with a part time job.
A 3 year old Range Rover Evoque is the wrong car for a working Joe teenager.
In both cases the dealer should make the buyer aware of more suitable cars, even if they then go ahead and buy the unsuitable car anyway.
(Original post by Dunnig Kruger)
Yeah but there is the ethics of sales. Which the BBC article was driving at.
There's no such thing as a great deal on the wrong car.

A nearly new Audi A1 is the wrong car for a student with a part time job.
A 3 year old Range Rover Evoque is the wrong car for a working Joe teenager.
In both cases the dealer should make the buyer aware of more suitable cars, even if they then go ahead and buy the unsuitable car anyway.
But surely passing the credit checks and being approved for the finance is practically ethic of sales?
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AngryRedhead
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#48
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#48
(Original post by Dunnig Kruger)
Yeah but there is the ethics of sales. Which the BBC article was driving at.
There's no such thing as a great deal on the wrong car.

A nearly new Audi A1 is the wrong car for a student with a part time job.
A 3 year old Range Rover Evoque is the wrong car for a working Joe teenager.
In both cases the dealer should make the buyer aware of more suitable cars, even if they then go ahead and buy the unsuitable car anyway.
Was that intentional?

The job of a salesman is to get the most money off you, that’s how he gets his commission, that’s his role in the company. He isn’t there to give you financial advice that really you, or in the OPs case, their parents, should be discussing with you
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It's****ingWOODY
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#49
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#49
(Original post by Dunnig Kruger)
Yeah but there is the ethics of sales. Which the BBC article was driving at.
There's no such thing as a great deal on the wrong car.

A nearly new Audi A1 is the wrong car for a student with a part time job.
A 3 year old Range Rover Evoque is the wrong car for a working Joe teenager.
In both cases the dealer should make the buyer aware of more suitable cars, even if they then go ahead and buy the unsuitable car anyway.
Adults should be responsible for their own choices, though. A person who made an ill-informed purchase only has themselves to blame for not being thorough enough in making the right decision.
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radiatorman
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Looool this guy's such a weirdo posting his range rover on TSR asking for 'tips' . What tips do you need? Go to a car forum..
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Dunnig Kruger
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#51
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(Original post by AngryRedhead)
Was that intentional?

The job of a salesman is to get the most money off you, that’s how he gets his commission, that’s his role in the company. He isn’t there to give you financial advice that really you, or in the OPs case, their parents, should be discussing with you
The job of an ethical sales person is to help customers buy the right goods or services for the customer.
An unethical salesman may well try to sell you whatever will earn them the most commission. I hate this type of sales person.
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AngryRedhead
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#52
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Yes, I agree that a good salesman with morals will do that for you, but nobody will look after you in this world unless you look after yourself first. The reality is that humans are predatory when it comes to money and it’s just as likely the salesman will have his own flash car or house needing to be paid for aswell. This is why people have to learn to be smart with their own money because there are always people willing to take it off them around
(Original post by Dunnig Kruger)
The job of an ethical sales person is to help customers buy the right goods or services for the customer.
An unethical salesman may well try to sell you whatever will earn them the most commission. I hate this type of sales person.
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carl fringos!
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#53
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(Original post by MrCole&Co)
Not a post to boast or brag, literally posted to prove that I did buy myself a range rover, if anyone has any tips or advice for the range that would be greatly appreciated.
I'm looking to buy something like this, haven't got my license yet though. a lot of my money (in excess of 10 grand) is tied up in high roller poker tournament tickets, so we will see when i get the funds, i don't really want to dip into my share portfolio.
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999tigger
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#54
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#54
(Original post by MrCole&Co)
Well how do I prove it? Shouldn't be getting responses saying doesn't prove, should be saying well done, and then offering advice and helpful tips.

Why is everyone hostile and just so quick to be on the negative?
I was going to say just get a copy of tomorrows paper on the steering wheel and with a sign Mr Cole and the date, but then realised that doesnt prove it and it could be your parents. I dont think people give a toss really, dont crash though either way as premiums will shoot up.
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MrCole&Co
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#55
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#55
(Original post by Dunnig Kruger)
That is a reasonable point.

However of more relevance is that all it takes is a change of circumstances, like losing your job, and you're up the creek without a paddle with monthly payments hanging over your head.
And all because of a car that's not even that fast nor comfortable nor big nor reliable. They do look desirable.

It's also 3k per year depreciation, 4k per year insurance with a lousy black box. All of which is money that can't be spent or invested elsewhere. It is, of course his money and his life, to spend as he pleases.
3k per year depreciation? No chance, go on autotrader and look at 2012 diesel ranges, put a mileage of 60k and see how much the cheapest one is.
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MrCole&Co
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#56
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#56
(Original post by Dunnig Kruger)
So did Mr Cole shop around for the best finance deal? Or did he go with the package offered by the dealer?
What happens when he misses three months in a row with whatever deal he's got?

Coming back to the why aren't you congratulating me thing:
A working Joe teenager spending 20k on a house deposit would be impressive. And so would investing 20k in a viable business venture.
But spending 20k on a nearly new car, regardless of how nice the car is: that doesn't deserve congratulations, that deserves commiseration.
Commiseration? Haha, I am so sad now that I have bought a range rover, oh crap! I am so unlucky.

So negative, you must be fun at parties
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MrCole&Co
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#57
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(Original post by It's****ingWOODY)
It's a Range Rover, why wouldn't you want white?

@ OP, you're statistically highly likely to be involved in some sort of accident at your age, try to buck that trend and be careful with your new toy.
Thank you, yeah no I will look after the car and do my best not to, but you never knew with all these idiots on the road ey
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MrCole&Co
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#58
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#58
(Original post by Anagogic)
Based on what you've said I doubt you're on more than £24,000. I'm guessing you're still living with your parents given that you're financing this car which must be £500 per month. Not a wise move, understand how to manage your finances better and get rid of that car asap as it's already lost 20% of its original value.
Well your wrong, don't ever assume someones salary.
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MrCole&Co
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#59
(Original post by radiatorman)
Looool this guy's such a weirdo posting his range rover on TSR asking for 'tips' . What tips do you need? Go to a car forum..
Salty
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Drewski
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(Original post by MrCole&Co)
Commiseration? Haha, I am so sad now that I have bought a range rover, oh crap! I am so unlucky.

So negative, you must be fun at parties
If the material possession of a car is what makes you happy then you must be a pretty poor individual with no sense of self worth.

You won't be fun at parties because nobody with any sense will invite you.
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