Shít that people pay over-the-odds for

Mike Curved Poet wrote: »

Finance is how a car should be bought (well a car worth more than a few thousand), even the very rich buy their cars on finance or even lease them as is not wise to spend your savings on a car much better to finance it especially with low or 0% finance available nowadays. If you can afford the repayment then you can afford the car.

Also a car is a lot more than something for getting you from a to b for many people and for others they just don’t want the hassle of ncts, visits to a mechanic and the risk of breakdown particularly for those who heavily reply in their car.

Rich people finance 300k+ exotics for short periods for two reasons, one they are rich and thus usually possess an ability to make money from money therefore it doesn’t make sense to tie up 300k+ in a car when they can make better percentages on investing that capital over the same period, This will normally also pay for the interest on the car finance.

The second reason is a lot of exotics appreciate in the first year of sale, especially this bought at MSRP, which is very hard done most of the time, so these people are financing an appreciating asset rather than what most Irish people do when they finance a 40k golf that loses 25% of its value in the first few months. Finance is a dreadful financial decision on the vast majority of cars as is is on almost any depreciating asset.

Bottled beer in pubs

As for buying soft drinks in pubs, barmen have to put half a glacier in your glass to bring the level of drink up near the top.

enricoh wrote: »

Yup bicycles - 2 /3 k for a push bike seems nuts to me.
New Golf clubs - a mate of mine got fitted for new ones n bought everything hook line n sinker that yet man was selling. I can't think of anything worse for depreciating in value.

Send this onto him in a few months and watch the blood drain from his face
https://valueguide.pga.com/trade-in/

The thing with golf clubs is that there has been a restriction in place for over a decade now on the coefficient of restitution ratio particularly for drivers. "COR" is effectively the trampoline effect between the club and the ball and by rule this can't exceed 0.83. If this wasn't implemented then while the amateur, casual golfer would hit further you'd be seeing professionals driving the ball 400 yards at a clip.

So realistically if you've bought a premium driver in the past few years then it's already at or near this established limit.
A premium driver might go for €500 off the rack.

As a result marketing of clubs has become laughable in order to mug people into continually spending and upgrading what is effectively the same technology so you see bolloxology terms from the branded manufacturers such as 'turbulators', 'jail break technology', 'twist face', 'speed chassis', 'power wave sole', 'power hole technology' etc which year on year becomes more and more ridiculous but lures people in that there is a simple short cut (at a steep price) to making Golf easier. The reality being that these space age engineering enhancements deliver negligible improvements, for example, you might get a % increase in club head speed delivering an extra 2 yards of carry which depending on how your swing itself is will be a carry further up the fairway or further into the trees.

enricoh wrote: »

Yup bicycles - 2 /3 k for a push bike seems nuts to me.

Got a roadbike for 2k last year. Did feel very wobbly about spending that money. The 'sensible' voice in my head reminded me at 5-sec intervals that it is just a bike.

Thing is though, it is up there now as one of the best spends I have made in the last decade in terms of usage and enjoyment I got out of it (so far!). I used the scheme in work. I'm out on it a lot because it is so enjoyable to ride in comparison with my previous sensibly-priced bike.

When it is engineered to that degree, it is a joy to ride. When it is a joy to ride, you go out more on spins. When you go out more on spins, you really improve your stamina. This promotes joy and gets you deeper into it again. Instead of regrets I have questions as to why I didn't get something like that earlier.

LirW wrote: »

But people sign themselves up for crazy payments for 3-5 years. Couple I know just got a 142 car on finance, they pay 220 quid a month now for the next five years for a car that'll be 9 years old when they're done with the contract. They'd be low earners and are aware that they now won't have a wedding or a nice holiday anytime soon because their money goes into the car.
Buying a new car isn't silly, getting a car on finance and have quite some financial burden on an asset that loses its value really fast might be though.

But if they saved the same money over the time and paid the cash for it, you'd say they were doing it right......

LirW wrote: »

.
A car has one job, to take you from A to B. If your pockets aren't lined a car for 5k will work out just as well for doing what its supposed to do and you still have some change left in your pocket.

Outside of essentials like food, the same logic could he applied to test things. So unless you're living in a self built cabin in the woods, I'd imagine youre doing similar but that's ok cos it's not on cars.

Deleted User wrote: »

Sorry but I disagree, the cost of borrowing €250k at 4% over 25 years is roughly €145k. How is that good value?
Irish bank's mortgage rates are almost double the European average, how is that a good rate? Why are our European counterparts paying on average €200 - €250 per month less on their mortgage repayments. Are houses in Ireland just that bit better? Or maybe its because its Ireland, and everyone wants to live here.

First of all, you need somewhere to live. Over 25 years the actual value of the 145k is decreasing due to inflation. The alternative option is to rent, where the value of your rent will only ever increase due to inflation. So over the lifetime of your mortgage you will more than likely pay less with a mortgage vs renting, along with all the other benefits such as stability, security of tenure etc. And at the end of the term you will own an asset

LirW wrote: »

My problem is how fast a car depriciates in value. If a new car is 30k, and by god that's an awful lot of money, it's worth a tenth of that a decade later. Motoring costs a lot of money either way but personally I don't wanna be tied up in a financial contract and never get to actually own the car.

How much is your TV, fridge, washing machine, dvd player, phone or pretty much anything else you buy worth after 10 years? Most of it has no 2nd hand value at all, never mind 10% of the purchase price

Guy:Incognito wrote: »

Plenty can though. And plenty more would rather spend 200-300 a month on a car than a few nights out or smoking or eating out.

If you can, no problem. Plenty can't yet it's painted in an aspirational light to buy a new car because hey it's just a few hundred a month, everyone can do that. The price of a new family car can easily be someone's annual wage though, people tend to forget that.
When people take out a mortgage they're heavily assessed and you need to bring certain requirements. But you can easily finance a car even with a low income and a meh credit rating. And if garage X wouldn't give you the finance you need, there are plenty of dodgy dealerships that can and do.

Obvious Desperate Breakfasts wrote: »

I know, right? I remember being gawped at with incomprehension by a bunch of girlie girls I used to work with who couldn’t believe that I don’t buy a new dress for each wedding. And I gawped back in a similar manner at one of them commenting “but what about photos from the weddings? What if someone spots that you wore the same dress at two different ones?”. Firstly, the ego. I doubt anyone is looking that closely. Secondly, if I like a dress, I want to wear it as much as possible. What actually will happen if someone notices?

Here, we had a young wan lodging with us a while back, student nurse. Lovely young woman however she was saying she couldn't wear the same outfit out twice due to Instagram pics!?!

dishwasher tablets.

the powder (which is getting harder to find) is much better value, and in the small print of our instructions, the manufacturer recommends powder instead of tablets.

oceanman wrote: »

sandwiches and rolls from cafes and delis....people spend crazy money on them instead of bringing their own to work.

food made by other people tastes better. And science backs that up

https://www.forbes.com/sites/sap/2013/07/03/why-do-sandwiches-taste-better-when-someone-else-makes-them/#337a97f05521