How did you pay for your car?

Various methods - the cheaper cars I've paid cash. More expensive ones a combination of cash & personal loan. Have also leased.
 
Gaijin said:
In my opinion you should never buy an Evo on finance, especially if you rely on it on a daily basis.
Click to expand...

Don't quite see the reasoning there.

Both my Imprezas were bought from cash and loans. The first one was all loan and the 2nd was 50/50. I spent more on the first than the 2nd in terms of mods and the repayments on either were no big deal. When both were sold the loans were repaid.

My Jeep was cash but then it was only £1800. I've gone off the idea of spending big money on cars, its just not necessary.
 
All my previous cars have been cash, took a loan out to pay part of my current car, once i've sold my old car most of that will be paid off.
I dont have a problem with using the banks money, i can afford the repayments and it means i'm not pushing my self to save more.
 
Daddy bought me two cars. What what.


2x MOT failure Mars Red Polo Classics. £50. Got one running, snapped a cambelt. Swapped the heads over then it ran for another 9 months, got the hiding of a lifetime before it passed on.
 
I put 30p down and then had it over 55 years at 44% APR which I think is a special deal, not least as he threw in some special polish and did me a deal on mats for £200.........per mat. The Mazda I bought for the wife is done via 36 companies and 14 credit cards and I will only end up paying £2543000 over the period of the 92 year loan. I would have put them on my mortgage, but they said 432535 items from Currys is enough, no more Mr Housey as we can only see £13 per month going into your account.

Top 5% me, no flies.
 
1st Car £1500 cash
2nd Car £2500part ex, £500 cash, £7k bank loan (through parents)
3rd Car £4200 part ex, £2000 cash, £3k dealer finance

I found that dealer finance tends to be cheaper when it's smaller amounts borrowed. On my focus to borrow £3k only incurred £300 interest over 2 years. I did however pay it back early and saved about £100 of that. In hindsight i regret taking the £7k loan to buy my second car (a brand new corsa), i got bored of it after the 3 years i spent repaying the finance and then sold it, but then again i was earning enough to pay it and still not worry about money.

If i can manage all my usual outgoings and still pay towards the finance and have spare dosh i wouldn't hesitate at taking out finance for the next car.
 
Dear BMW
I do not have any money so am sending you this drawing I did of a spider instead. I value the drawing at £50,000 so trust that this settles the matter.

Regards, Giddy.

spiderdrawing.gif
 
Volvo S60
- 4 year interest free loan through work to spread the cost

Audi TT
- 50% cash, 50% 2 year personal loan at 8%
 
So it seems quite a mixture of cash and loans.

I dont see the problem with a personal loan if you get good rates.

A friend of mine has a MINI copper S on a 2 year lease thing. What are peoples thoughts on that? I think he is paying over £200 a month for two years and then has nothing by the end of it
 
You must log in or register to reply here.
Back
Top Bottom