My phone contract costs me 25 pounds a month for an iPhone 6s (new at the time). With an older iPhone, that would have been closer to 15 a month. (Which incidentally is the sim only price of the plan I'm on).
Regarding vehicles. There's almost certainly a bias there. I'm on foot at the moment, and looking at the main road in front of me, the majority of the vehicles are 6-8 years old small to medium care, with a more modern saloon being more common than an SUV.
However many people rely on cars, and unless you're clued in it's easy to overbuy. If my car broke down today and i needdd it to get to work, my options are (broadly) buy an 800 pound banger, buy a 3-5k 5-6 year old vehicle or buy a new vehicle. If I have. O money, then buying an 800 pound banger isn't an option. I don't know where I'd go to get a loan for less than a thousand pounds, other than a payday loan company, or possibly a credit card. Meanwhile, I can walk into my bank ask for 5000 pounds for a car loan and leave with the cash in my account, with no deposit, no security. Funnily enough when you look at the repayments of one of those loans, they come out at near identical to a PCP (or PCH, not sure which) lease agreement on a brand new car, probably a model or two better than the one I could buy with a loan.
Regarding vehicles. There's almost certainly a bias there. I'm on foot at the moment, and looking at the main road in front of me, the majority of the vehicles are 6-8 years old small to medium care, with a more modern saloon being more common than an SUV.
However many people rely on cars, and unless you're clued in it's easy to overbuy. If my car broke down today and i needdd it to get to work, my options are (broadly) buy an 800 pound banger, buy a 3-5k 5-6 year old vehicle or buy a new vehicle. If I have. O money, then buying an 800 pound banger isn't an option. I don't know where I'd go to get a loan for less than a thousand pounds, other than a payday loan company, or possibly a credit card. Meanwhile, I can walk into my bank ask for 5000 pounds for a car loan and leave with the cash in my account, with no deposit, no security. Funnily enough when you look at the repayments of one of those loans, they come out at near identical to a PCP (or PCH, not sure which) lease agreement on a brand new car, probably a model or two better than the one I could buy with a loan.