Quote:
Originally Posted by mobilejo
You're on PCP, this is what it was designed for! You have an exit locked in, even if the bottom completely falls out of the market.
In the meantime, you will have an awesome car to enjoy and possibly, one of the final iterations of bad-ass, over powered, petrol engines.
I know a recession is bad, but (and it is sad to say this as it makes me sound like a vulture, but its true), for those in a good financial position that can be maintained throughout, a recession can bring opportunities as your buying power increases.
It is a potential worry, yes. But also if you have done what you can to protect yourself financially you should enjoy what you can safely afford to enjoy, while you can enjoy it.
My motto for cars is, if I can afford three of them, I'll buy one without worry.
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I agree mate although the arse has fallen out of PCP thanks to manufacturers flooding the market with cheap deals. As a result the residuals are crap so even on a VERY strong deal that I have on this M4 the neq-eq to get out is still a couple of grand under normal market conditions. On the X5 M50i I'm guessing it could well be 5 figures to get out any time early before the 3 year mark.
I've money in the bank so stable unlike many but even then the prospect of committing on an £80k car coming into the biggest global recession since the war is a little daunting.