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AIBU?

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Original poster

for treating financed cars as unaffordable?

207 replies

Youraveragelass · 02/01/2026 20:11

I was having a discussion with friends about cars, having issues with mine at the moment, and it has made me question my thinking around cars. There are some beautiful cars on my estate, and while I’d say I can’t afford one, I could afford the monthly repayments but I just couldn’t afford (or want) to put £100k down to buy one outright. That is the extreme of course, and I could buy something secondhand, which I do, but I can’t ever see me going beyond my means for a car.

This seemed to be such alien thinking to my friends, they didn’t understand why owning it outright matters to me. It’s made me reconsider how I think about finances more generally. I’ve never had anything on finance, and the idea has always made me feel uneasy. My default has always been that if I can’t afford it outright, I don’t have it.

I guess, I just wanted to know whether I’m being unreasonable to hold this view and need to lighten up on such strict viewpoints or whether I’m not being unreasonable to be cautious about a depreciating asset.

OP posts:
B0ldzebra · 02/01/2026 20:56

mumofoneAloneandwell · 02/01/2026 20:33

No one owns anything anymore tbh

I have a cheap car but I’ve been thinking about taking the plunge and trying to lease one. Nothing luxury but something as new as poss

Err they do.

Would never lease a car.

We save for around 5 year old second hand reliable cars and run them into the ground.I can’t imagine not owning a car or paying huge fees each month just to have something shiny when you could own something cheaper. It’s basically chucking money away.

Bearybasket · 02/01/2026 20:53

I don’t think there is any black and white right or wrong with it, it’s how different people prioritise things differently.
I do also think that though that the price of a reliable second hand car has increased so much that more people are having to lease to afford something they can trust

I personally wouldn’t lease because I don’t value having a ‘nice’ car enough to not resent the monthly payments and also I’m lucky enough that I can afford to buy something reliable and that fits my needs outright.

MeridaBrave · 02/01/2026 20:53

£100k for a car? Why would anyone spend this much unless they were seriously wealthy. We always buy outright (and agree finance for cars is mad) but we buy second hand, last time we spend £10k that was in 2016. I guess it’s still got 3-4 years in it. So less than £1k per year. Leasing would cost way more.

DustlandFairytaleBeginning · 02/01/2026 20:47

I find the idea of leasing a bit odd personally, but we usually use a car loan to help us buy something second hand and spread the cost over 5 years.

snowymarbles · 02/01/2026 20:43

i have just had this dilemma. We had an ev scheme brought in at work and I was going to go for it and lease something a little bit fancy and have 3 years of fun. However the scheme changed price went up a bit and I couldn’t bring myself to do it. I’m buying an 6 months old ex demo which I will own once paid off via a bank loan.

my current car is 13yo and I will keep this one as long probably.

mumofoneAloneandwell · 02/01/2026 20:33

No one owns anything anymore tbh

I have a cheap car but I’ve been thinking about taking the plunge and trying to lease one. Nothing luxury but something as new as poss

ComtesseDeSpair · 02/01/2026 20:15

Neither is an “unreasonable” point of view, it’s about personal approach to finances, cashflow, risk appetite, and spending priorities. Many people take the approach that debt they can afford to service is manageable and acceptable debt. Many people simply see it as a cashflow thing: they can’t afford £50,000 in one lump but they can afford it in instalments over a couple of years. Different people are more or less debt averse and risk averse. Some people just aren’t interested in high end cars. You only have to agree with your own household spending arrangements being within your comfort levels.