How do lots of people afford the brand new luxury cars ?

Not when you plan to keep them and drive them for years. Costs far less over a lifetime to pay for an occasional car rather than lease forever.

It’s false economy to buy a new car outright as they lose their value very quickly, so most people I know lease. Not me though, I prefer an old car that I own.

Not for all brands - auto companies are working towards certain recycling scheme too.

It’s not rocket science, it’s leasing

Why do these type of posts come up every week? Some people just have more money.

DH and I have paid off our mortgage and we bought a new Tesla outright because we can afford it and hate owning money to anyone so won’t lease or buy a car on credit because we don’t have to. No agreements with small print.

We will keep it for a long time e.g. 10 years (that’s how long we had our last new Audi and we sold it for s decent price) then sell and buy another new car.

We lease a Tesla at £500 per month, this includes insurance for DH and I plus repairs and replacement tyres. This is our first lease car and I’m loving it so far.
This is more than affordable on our income and we’re happy with our choice especially as I was paying over £300 per month on fuel.
We do own a Volvo outright as a second car.

Both had healthy car allowances so bought brand new with our savings and keep for years. The car allowances then topped up the savings. No interest to pay and owned outright.

Because very few people pay for their cars outright right days. Most are just paying the monthly payment so they're not actually forking out 70k + for a nice car.

You haven’t

New Tesla company car

Ours is a company car.

I have a lease car through my business. I pay just under £250 for a 22 plate BMW. I don't pay for MOT, road tax or repairs as its under warranty. If it breaks down they give me a replacement. With a DH who works away a lot I need something reliable and security of being mobile.

I have one, but it’s a company car. Have to change it every few years due to emission regulations changing etc. I personally wouldn’t be bothered but as we don’t have off street parking I like not really caring about insurance/damage/etc.

Someone haa to use them so they can become acceptable second hand tho

Buy all my cars second hand at usually 1-2 years old still with warranty. My employer gives me a car allowance to buy a car.

So it makes more sense to put it towards a 30k car and keep trading it in for newer ones when I spot a bargain.

Why would I lease, my employer is paying for it so if I leave my job I still have a car at the end of it worth something.

😂😂 Totally.
Second hand ford with less than 100k miles? Ooooh, someone was lucky in lotto, weren't they😂

I balk at spending £500 on a car per month, I'm in a high income household. Aren't people worried about denting it ? Scratching the alloys ?

This is me, I think I would be too scared! I also don't care about cars at all & feel like i'm not rich enough to not miss £500 a month.

I think so much less of people who regularly lease new cars. Environmentally irresponsible and frankly pretentious.

We could afford expensive cars but have other priorities

My sister has a 22 plate audi on finance, £350 ish a month. I bought my 2007 car outright, so no monthly HP/PCP cost. However it's old and needing taken to the garage once every 3months or so for repairs for this or that, just little things but I'm about £150 ish a pop. I can't afford a new car but sticking with an older car also has its expenses. My sister never has her car in the garage, so no costs like I do.

Yes true! In fact when I see people driving second hand cars and people driving flashy new ones, I would now assume the person driving the older car was actually wealthier!

Yes, but the point in there with "now" means now. Look how much it would be now.

As you saw, second hand cars risen in last few years quite considerably that we also made money on ours after paying off the pcp. Well it was like £1500 but still good!

I am in no way disputing people could buy years ago cars for few hundred and drive for years

You simply cannot now buy a car for few hundred which you could drive away or which would last

A few years ago my dh bought a cheap runaround to tide us over for a few months...cost £450. I ended up driving it for three years! It never once broke down in all that time. I never even had to get anything fixed on it and it passed every mot first time. He even sold it for a profit. I cried when we sold it even though I had a newer car as a replacement.

I appreciate we got lucky with that particular car though!

We lease a Tesla, but in the past have always bought cars outright, we own a diesel SUV for towing, we wouldn't tow with any electric car. Most people nowadays buy or lease new cars, not so many have older cars like they did pre 2000

Yes, that’s why I said “generally speaking”‘ in the vain hope that someone doesn’t feel they have to tell everyone how much their car has increased in value

Sorry if I touched a nerve.

We drive a brand new jaguar, we have it on lease. We have the salaries to afford one but don't want the expense that comes with maintenance of older cars and we get to upgrade every few years so it just suits our lifestyle best. Prior to that I had a Mercedes company car (from the age of 24, so quite young). So different ways for people to have expensive cars.