How did you pay for your car?

stoke1863

stoke1863

stoke1863

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I would do a poll but i have no idea how!

I was just wondering how most people pay for their cars.

So do you pay outright for yours
Finance from dealer
Bank Loan
Lease
ect

I ask this because i have always been brought up to pay for everything outright and never owe money.

Now my old school friends from high school have a nice selection of cars that they have gotten financed or 2 year leased (Civic, A3, Leon cupra)

Im mega jealous as they all have similar paying jobs and outgoings (all live at home) Im still driving my first car a 1.4 seat ibiza that i paid outright for.

What are peoples thoughts?
 
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You will be in a better position in a few years time if you put the same amount aside that they are spending on their financed cars.

Come deposit time you should have a good fund. :)
 
You'll be laughing in the long run, though.

Depends on your situation. I took a year out to save up and buy my car outright(also put myself through lessons/tests etc).

It is a bit gutting when you work with someone the same age who is at uni and has a brand new Astra financed by her parents :p I know 3 people in that situation though, all girls surprisingly. :rolleyes:
 
Bought outright - last car cost just under £10k. When I bought my bike last September I put £2,5k on 0% finance at the time, and just paid this off a couple of months ago.

I'm looking to change cars in the next few months, and will probably go finance with a decent deposit this time. We've just got a new work car scheme which pays 12% of salary so I'll use that to keep the finance term to the minimum possible.
 
never even crossed my mind to take out finace on a car! cant see the point, unless i suppose you have no imagination and feel the need to impress people with your shiny new hatchback.
 
I paid a £1k deposit on my car then paid the rest off at about £250 a month. The repayments were fairly high but it also meant I wasn't paying that much over what it would have cost me had I had the money ready to go. At the time I couldn't really afford to buy the car outright unfortunately but i've paid my car off for over a year now and it's good not having to pay anything for it monthly anymore :)
 
gbradders123 said:
never even crossed my mind to take out finace on a car! cant see the point, unless i suppose you have no imagination and feel the need to impress people with your shiny new hatchback.
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Same, I'd rather buy an older model than be up to my ears in debt for a completely average and utterly unexciting hatchback.
 
all my own hard earned cash. handing over the 7k hurt so much lol. never had that much money before and i blew it all in one day on my van. but then i do leave in the van for work. so can right some of it off to the tax man :)
 
Bought off a friend and paid in instalments.

Any other car I've had in the past has been either this or cash upfront.
 
Bought my current car outright, but have used a bank loan for a couple of previous cars. I don't see the issue with a bank loan personally, as long as you get a good rate.

Finance on the other hand, I'm not a fan of. You don't own the car until you pay the finance off which can make things difficult if you want to sell the car before the end of the term.
 
I looked at it but just couldnt swallow paying 9k for a 7k car so nothing wrong with my current car anymore so Im just putting abit of money to one side everymonth and then will go out and buy a new car outright.
 
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