Glennis Posted October 18, 2012 Share Posted October 18, 2012 They said yesterday that there were now more people in the UK working than at anytime. Yes, but its part time work. Link to comment Share on other sites More sharing options...
vinyl Posted October 18, 2012 Author Share Posted October 18, 2012 Yes, but its part time work. They are clearly well paid then because they are buying increasing numbers of new cars whilst sales in Europe are dropping drastically. Link to comment Share on other sites More sharing options...
Rupert_Baehr Posted October 18, 2012 Share Posted October 18, 2012 Are they buying new cars or are they borrowing money to buy new cars? How do the levels of personal indebtedness in the UK compare with those in Europe? Link to comment Share on other sites More sharing options...
L00b Posted October 18, 2012 Share Posted October 18, 2012 Are they buying new cars or are they borrowing money to buy new cars?According to the car salesman who just sold me a car this week (cash), borrowing mostly (lease purchase agreements). In terms of ratio (finance to outright purchase), he quoted a figure in the high 60% for finance since the beginning of the year. I'm not holding that as evidence or representative of course, but I can't see why he'd tell fibs about it either. How do the levels of personal indebtedness in the UK compare with those in Europe?The UK has always been higher, but I believe the explanation is more cultural than economical. Brits are not 'hinged' about putting stuff on the never-never, the same can't be said of many (most) Continentals. IMHO anyway. All that said, our Irish neighbours got to be the record-breaker (relative to the UK developed world) in the early-to-mid 00s, until 2008 approx: In March 2008, Ireland had the highest level of household debt relative to disposable income in the developed world at 190%, causing a further slow down in private consumption, and thus also being one of the reasons for the long lasting recession. (from here). Link to comment Share on other sites More sharing options...
vinyl Posted October 18, 2012 Author Share Posted October 18, 2012 Are they buying new cars or are they borrowing money to buy new cars? Many new cars in the UK are bought by companies so they are often bought outright or put on lease. The private purchases are often bought on a manufacturers deal. Ie. Pay big deposit up front and monthly payments for 3 years. At the end of that period the car can be returned, or part exchanged or bought outright for cash. The traditional HP type purchases are not the norm here. Expensive cars are normally sold for cash. Link to comment Share on other sites More sharing options...
Vague_Boy Posted October 18, 2012 Share Posted October 18, 2012 It looks like things are starting to get better. None of the problems that caused the recession in the first place have been addressed. Creating money out of thin air (QE) just kicks the can further down the road. Link to comment Share on other sites More sharing options...
Rupert_Baehr Posted October 18, 2012 Share Posted October 18, 2012 Earlier this year I decided I needed a car to use when I am in Europe. I found that - even before car sales in the UK stated to pick up - the UK was the cheapest place in Europe to buy used cars. Presumably, now that new car sales are increasing, there are going to be some even better bargains in the 2 or 3 year old range. Link to comment Share on other sites More sharing options...
vinyl Posted October 18, 2012 Author Share Posted October 18, 2012 Earlier this year I decided I needed a car to use when I am in Europe. I found that - even before car sales in the UK stated to pick up - the UK was the cheapest place in Europe to buy used cars. Presumably, now that new car sales are increasing, there are going to be some even better bargains in the 2 or 3 year old range. Wouldn't you want left hand drive? Link to comment Share on other sites More sharing options...
Rupert_Baehr Posted October 18, 2012 Share Posted October 18, 2012 I'm not bothered. - I drove for 20-odd years in the UK with 'my arse in the grass' (LHD car) and now I do the same in Germany with a RHD car. It doesn't really make much difference. In the UK in a LHD car, turning right at a junction requires some extra care - as does overtaking, but you soon learn how. - The problems are reversed in Europe. I bought LHD lighting for the car (not that expensive - I paid neither dealer prices nor those on 'Treasure Island'. Link to comment Share on other sites More sharing options...
vinyl Posted October 18, 2012 Author Share Posted October 18, 2012 I'm not bothered. - I drove for 20-odd years in the UK with 'my arse in the grass' (LHD car) and now I do the same in Germany with a RHD car. It doesn't really make much difference. In the UK in a LHD car, turning right at a junction requires some extra care - as does overtaking, but you soon learn how. - The problems are reversed in Europe. I bought LHD lighting for the car (not that expensive - I paid neither dealer prices nor those on 'Treasure Island'. Well if you are wanting a used car 1 2 or 3 years old there is a place in Stafford that gets most of the fleet cars, lease cars, and those bought on the 3 year deals that the buyer didn't want. Usually around £1k under dealer price but carrying dealer warranty. PM me if you want details. Link to comment Share on other sites More sharing options...
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