Boomers vs the rest

[Madas]

So we’ve created a consumer world where the sole object is to spend yet they want to stop people spending ?

People these days who have a modicum of disposable income , will spend it .
Those who are living on the edge of affordability just can’t but these people are unfortunately the ones most affected.

It takes an incredibly resilient person in this day and age to drive past the millions of shops selling all manner of things, not go online to make purchases , not book regular overseas holidays, not upgrade the car , not build a new house or renovate an existing one ……etc .etc

We’ve been programmed to spend and society has evolved around this .
To think people are going to stop is ridiculous, but for the government to think the only answer is to tax them till they are broke and give the proceeds from this to the already rich banks is criminal.

 

[Kwality]

When you cant pay for it, dont buy it.
When you borrow, understand what you have got yourself in to.

 

[Madas]

When you cant pay for it, dont buy it. Use credit
When you borrow, understand what you have got yourself in to.

Fixed it for you

 

[Rotayjay]

So we’ve created a consumer world where the sole object is to spend yet they want to stop people spending ?

People these days who have a modicum of disposable income , will spend it .
Those who are living on the edge of affordability just can’t but these people are unfortunately the ones most affected.

It takes an incredibly resilient person in this day and age to drive past the millions of shops selling all manner of things, not go online to make purchases , not book regular overseas holidays, not upgrade the car , not build a new house or renovate an existing one ……etc .etc

We’ve been programmed to spend and society has evolved around this .
To think people are going to stop is ridiculous, but for the government to think the only answer is to tax them till they are broke and give the proceeds from this to the already rich banks is criminal.

It might be an illusion, but I've noticed a proliferation in people having brand-new cars, even people who I think don't have a particularly high income (though I don't know the details of their finances - just a guess). Is getting a car loan or leasing a brand-new car a generational difference?

 

[Madas]

It might be an illusion, but I've noticed a proliferation in people having brand-new cars, even people who I think don't have a particularly high income (though I don't know the details of their finances - just a guess). Is getting a car loan or leasing a brand-new car a generational difference?

100%
And I can say this with authority

I have a 21 year old and also have had 5 apprentices over the years

As soon as they have worked a year and have a credit rating they will get a car loan for a new car and then spend a packet on accessorising it

Most of my apprentices drive better cars than me

I have recently upgraded after putting 350,000 km on my Ute over 12 years
Getting finance was too easy , it seems to have gone back to low doc levels of lending

So in all it’s so easy to get credit these days and it’s all done on the phone that young people especially can’t help themselves

On the other side of that argument though , and possibly the reason you are seeing new cars , is that there is still limited stock which has driven up the price of second hand

Therefore when you add it up it’s actually not that much more to buy new ( I’m talking $30,000 + , the low end of the market there are obviously still bargains to be had )

 

[Kwality]

It might be an illusion, but I've noticed a proliferation in people having brand-new cars, even people who I think don't have a particularly high income (though I don't know the details of their finances - just a guess). Is getting a car loan or leasing a brand-new car a generational difference?

A hangover from the days when borrowing was cheap.

 

[Kwality]

100%
And I can say this with authority

I have a 21 year old and also have had 5 apprentices over the years

As soon as they have worked a year and have a credit rating they will get a car loan for a new car and then spend a packet on accessorising it

Most of my apprentices drive better cars than me

I have recently upgraded after putting 350,000 km on my Ute over 12 years
Getting finance was too easy , it seems to have gone back to low doc levels of lending

So in all it’s so easy to get credit these days and it’s all done on the phone that young people especially can’t help themselves

On the other side of that argument though , and possibly the reason you are seeing new cars , is that there is still limited stock which has driven up the price of second hand

Therefore when you add it up it’s actually not that much more to buy new ( I’m talking $30,000 + , the low end of the market there are obviously still bargains to be had )

350, I saw 480 on my last Hilux.
Business use is a different set of rules to your first car.

 

[Richard Cranium]

A hangover from the days when borrowing was cheap.

18 months ago?