I know it sounds weird, but if you remove the creepy idiots, India is not as horrible as Nigeria. They have good roads, 24-hour electricity, cheap food, and a great healthcare system. I lived in Delhi for 3 years and it didn’t suck. I heard some parts are not as developed as Delhi though but nobody is kidnapping you in India and no one will barge into your house to rob you.
@outthered You’re not wrong..but your dad wasn’t wrong either.
He just gave the safe version, not the useful version.
“Don’t invest what you can’t afford to lose” is meant to protect beginners from risk, but it can sound so extreme that it scares people off completely.
@KidBold Plus the maintenance thing is also a scam. Most reasonable cars don't need serious maintenance. I haven't spent up to £650 maintaining my car in the last 3 years.
My impression has always been, and still remains, that this method is just burning money down the drain. For an average car, you would pay in the region of £309-£450 per month and be locked into a 2/3 year deal. And after that term, you don't own the car. If you want to own the car, you then have to pay the current value of the car, which by the way, you've successfully financed for them whilst it was deprecating, woth no equity.
Buy cars with cash. That's my forever stance. Or do temporary leases/rental if you are keen on driving a specific type of car for a bit (3-5 months).
@KidBold But PCPs are usually for new cars and you're unlikely to have any real maintenance issues for the first 3 years of a car.
You pay monthly and you don't own the car. You are really just paying for the privilege to drive a new car.
It's a bad deal for most people.