For the financial wizards out there.

It's a real shame when people get ripped off like that. It's all too easy to laugh and point at him and point out how he could = have obviously done better , but there really is virtually no advice = given to people on financial matters like this at school which is a = travesty.

If you don't know any better 40 quid a week doesn't seem to bad for a = car at first glance when you are young and have money burning a hole in = your pocket so it's easy to see how high pressure sales tactics can suck = people in.

--=20 Alex

"I laugh in the face of danger , then I hide until it goes away"

It's a real shame when people get ripped off like that. It's all too easy to laugh and point at him and point out how he could have obviously done better , but there really is virtually no advice given to people on financial matters like this at school which is a travesty.

If you don't know any better 40 quid a week doesn't seem to bad for a car at first glance when you are young and have money burning a hole in your pocket so it's easy to see how high pressure sales tactics can suck people in.

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Irrelevant of what is taught in schools 48 x £150 = £7200 really isn't a difficult sum!!

And what were the parents doing? Sounds like he's still living at home so you would have thought they'd talk some sense into him, or even loan him the money.

It's hardly a surprise that he's an idiot if he shops at overclockers.

I wish my parents would lend me money rather than it always seeming to be the other way round.

You probably didn't get to the bit where he mentions that one reason his credit is so good is because his dad applied for various credit cards in his name?

The poor kid, but Carcraft are notorious for this.

Heh - I love carcraft...

Spent almost a full day, testdriving cars, then pulled out a price guide and tried to pay cash on a 4 yr old passat. Left without a car.

Rinse. Repeat until some more work comes in and I'm too bored baiting carcraft.

The newspaper stories about Ronaldo's insurance after his prang in the tunnel were interesting. Estimates went from "no chance, ever" to twice the price of his Ferrari to insure it.

I thought of a clever saying while reading that. You don't climb *up* the 'credit ladder', you get on at the top and climb

Carcraft, like DFS, sell finance and not the goods in their stores.

"At least I've got on the credit ladder".

Says it all really.

It's not exactly a good lifestyle target. You should only buy things you cannot afford to pay for if they are going to make money...

Where you live makes a difference.

But what about all the other costs involved such as insurance, maintenance etc etc etc? A study proved that if someone rented for X years and saved the difference instead of buying, the amount of interest earned on those savings plus the smaller interest they'd pay on the resulting smaller mortgage meant they were quids in.

Of course that doesn't take into account the way prices shot up, where waiting would've made it more costly to buy the same house (unless they waited until the prices dropped again, which could be an indeterminite amount of time and you wouldn't want to rely on that). I think the study was trying to debunk the idea that "money paid in rent is wasted money".

Then again when renting you are subject to the landlord suddenly deciding to raise the rent, evict you, sell the house from under you etc etc etc. It's a minefield... you're damned if you do and you're damned if you don't! Maybe the solution is to become a gyppo :)

Indeed. I've been in this house 13 years. Had a conservatory on the=20 back. Had to fit a new kitchen, bathroom maybe has a few more years in=20 it, had a new hot water tank, not sure how long the 25 year old central=20 heating will keep going and the front door and all front windows will=20 need replacing soon. The only thing I'm thankful for is that its been=20 in total a 15 year mortgage so saved myself a whacking amount of=20 interest but when the BoE interest was at 5.5%, I could have rented a=20 better house for the same amount with no maintenance worries at all.

--=20 Conor

I only please one person per day. Today is not your day. Tomorrow isn't=20 looking good either. - Scott Adams

Bradford address?

Yeah imagine what a car he could've bought if he'd saved that 170 a month for five years. He'd probably think, I've got ten grand cash I'm not going to spend it on a car, what a waste of money, it's taken me five years to save it up! Funny how the instant gratification of shininess and jangling keys warps the mind.

We recently had that bloke asking for advice on a car for his wife in either this or one of the other car-related groups. He was willing to pay £stupid for a knackered Focus. When it was pointed out that he was paying over the odds and given a list of alternatives that were newer, better specced, lower mileage he then announced his intention to double how much he was paying and get a more expensive Focus.

No, I don't understand it either.

The insurance for my SAAB is just over +AKM-200 for the year. Fully comp for the Locost, parked outside is +AKM-120. Even Bradford has some slightly less pikey areas +ADs-)