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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To be puzzled by neighbours financial priorities.

120 replies

SirGawain · 31/12/2022 19:11

First let me say that this is in no way a criticism of anyone, just idle curiosity.
We live on a development of about 200 two and three bedroom homes built about thirty years ago. A pleasant place to live but most people are not particularly well off. Lady Gawain and I are comfortable but by no means wealthy. We have a good but modest car and are mortgage free.
Many of the houses have been bought up as buy to let or housing association properties. What puzzles me is that, bearing in mind that some cannot be very well off, they seem to prioritise expensive cars. There are many people with Audi’s, BMW’s and Range Rover’s. What is theirs thinking in focusing on a depreciating car rather than an appreciating house.

OP posts:
Zuve · 31/12/2022 20:04

I like older cars and usually run them into the ground. Cash is king, not some rotting hulk or the front

Workawayxx · 31/12/2022 20:05

I can understand it. You can probably get a nice car on hp for a couple/few hundred a month. A nice luxury and isn’t likely to go wrong or is under warrantee, low running costs, reliable etc. My 12 yo car has cost me £1500 at least over the last year and £1200 (new clutch) the year before. I’ve been off the road loads (and very stressed about it - nearly didn’t make it on a holiday I’d paid for). I’ve borrowed my parents car a lot which has been great but I imagine few have that luxury. Maybe they’d rather have a lovely and reliable car at a fixed cost than other things like a bigger house or the spare income is enough to pay for a lovely car but not a significantly bigger/nicer house.

vodkaredbullgirl · 31/12/2022 20:06

🙄

emilyelf · 31/12/2022 20:07

Buying a car outright would mean potentially losing on that deposit they may as well be saving for. It's pointless to pay between 40-80k to own a car outright. I've had shitty cars and it cost me more to run than do monthly payments. The car was essential for me to be able to get to work which helped me to be able to earn so I could save for that deposit.

Confusion101 · 31/12/2022 20:07

I will never be able to afford to buy a car outright. I will always have a loan for one, and have accepted that. Might aswell be making repayments on a nice car rather than a car I don't like. My repayments stay the same each time, I just extend the term of the loan when I get a top up to change car

Vitriolinsanity · 31/12/2022 20:08

@Brefugee not if you knit then carefully into a balaclava.

IrisCosyCottage · 31/12/2022 20:09

Being self-employed doesn't mean it can't be a company car. People who own their own businesses will usually say they're self-employed but the company can make the car payments.
Your lack of knowledge is bewildering to me. I can't imagine being bothered enough to start a thread about something you obviously haven't spent any time thinking about at all.

getoutof · 31/12/2022 20:10

People either like to be rich or look rich. One of those is always a priority to everyone!

ivykaty44 · 31/12/2022 20:11

OP I have no idea why people put value on an expensive car, it’s baffled me. I just haven’t asked the question. In my head the car sits doing nothing for 90% even if you drive for 2 hours every day

seems if you ask that question you get told swiftly to mind your own business 😂 so maybe people don’t want to be asked?

TwoLeftSocksWithHoles · 31/12/2022 20:12

Good point Gawain.
Covid certainly has a lot to answer for...
...and don't get me started on Brexit

WaddleAway · 31/12/2022 20:12

getoutof · 31/12/2022 20:10

People either like to be rich or look rich. One of those is always a priority to everyone!

Or they just want to pay a standard affordable monthly fee for a new, reliable car without having the worry of expensive maintenance and repair bills.

EmergentThoughts · 31/12/2022 20:13

My first thought would be assuming it's a company car. That's if I even noticed at all, which I probably wouldn't.

Blueblell · 31/12/2022 20:13

Most posh cars are on hp in fact it is silly to buy a brand new car. But it is not silly to have a nice car

Pelo22 · 31/12/2022 20:14

WeAreBorg · 31/12/2022 19:26

I judge everyone that drives a Range Rover. ALL OF THEM

Also a lot of people make terrible financial decisions, mostly people who buy Range Rovers

Please don't, it's not mine Grin
My neighbours probably judge when there's a new Range Rover or evoque on my drive. It's my job, I don't own it!

3ormoredogs · 31/12/2022 20:14

I have an old Land Rover. It failed it’s MOT last year and I couldn’t find a replacement big 4x4 for much less than £20k unless I went older or high mileage which seems pointless as I already have that. I can’t lease with kids/dogs/parking in muddy fields and risking massive fines when it goes back.

Im not sure how people can afford £300-£400 per month but good on them they must be doing better than me!

Fixed my old banger in the end 😄

DenholmElliot11 · 31/12/2022 20:15

A lot of people are unable to get a mortgage due to not being able to get a deposit together or not meeting the affordability criteria.

So they rent instead - and drive a nice car because the criteria for leasing a car is a lot lower than a mortgage.

Whats wrong with that?

sst1234 · 31/12/2022 20:16

How is their ownership of a low end prestige car making you question their priorities?

Enterusername111333 · 31/12/2022 20:16

You sound like my arse of a neighbour.

Just in case you are... your stupid wee dug barks everything you go out, do something about it please.

gonutkin · 31/12/2022 20:16

I would love to know how people know so much about their neighbours financial situations! Wondering how they afford certain things.. I don't know how much any of my neighbours earn am I in the minority here? It doesn't even cross my mind oh I wonder why they buy this or have that. Minding my business makes for a peaceful life

RosesAndHellebores · 31/12/2022 20:17

Well look at it this way Sir Gawain.

In 2030 we will be forced to have electric cars. The genre still has a long way to go re developments and cost effectiveness.

My DH is on the look out for a new car (ish). He is not persuaded the hybrids/electric models are sufficiently developed to justify buying one and every 18 months the next marque is an improvement on the last. There seems little point in 2023 in buying an 18/24 month old hybrid which will be obsolete in 2030 and when the legislation and potential for change is uncertain.

At present it would be quite sensible for dh to have my three year old sensible car and for me to have a bit of fun with leased Golf's and/or A class mercs.

Also, I don't believe Sir Gawain was married and whether he was or not I think he was the sort of chap to charge about in a diamond studded Porsche Cayenne giving not a fuck about the neighbours.

newnamethanks · 31/12/2022 20:18

My children have given up on buying cars and now lease them. They say it's more cost effective and change them every 2 or 3 years. No idea personally, wouldn't have a car if you paid me to have it.

gonutkin · 31/12/2022 20:19

Also, the NHS do a fantastic car lease with loads included. If any of them work for the NHS maybe they do that, and it would be well worth the money each month. Even if their house isn't worth much as you say 🙄

Doris86 · 31/12/2022 20:21

PCP means there are loads of people driving around in cars they will never actually own, and keep paying a monthly payment for in perpetuity. But that’s their choice.

Not what I would do though. Both mine and my husband’s cars are 10 years old. We could afford new ones, but when they are both 100% reliable why bother? We’d rather spend the money on over paying the mortgage.

Lochjeda · 31/12/2022 20:22

I read that in the voice of Bryn from Gavin and Stacey for some reason. And ill tell you for why.

Yippiedoo · 31/12/2022 20:22

My sister in law and her DH have a modest home, but an enormous loan for a Range Rover. They like to be 'seen' in a high end vehicle. A lot of people are the same. Pay large amounts for PCPs or loans for a depreciating object. Better spent on paying off mortgages would be my personal preference but each to their own of course.