How did you pay for your car?

Cash

Escort £275
Fiesta £150
Sierra £90
Sierra £50
Nova £150 I think?
Golf £0
Nova £100
Sierra £150
205 GTI £350
BMW 320 £0
309 GTI £150
309 GTI £200
309 GTI £400
Golf GTI £300
Rover 200 £125
Sierra £0
Mondeo £400
205 GTI £300
Civic £0
Supra £295
Volvo £150
Manta £1150

£4785, all cash, 13 years, lots of crap :D
 
Lopéz said:
Cash

Escort £275
Fiesta £150
Sierra £90
Sierra £50
Nova £150 I think?
Golf £0
Nova £100
Sierra £150
205 GTI £350
BMW 320 £0
309 GTI £150
309 GTI £200
309 GTI £400
Golf GTI £300
Rover 200 £125
Sierra £0
Mondeo £400
205 GTI £300
Civic £0
Supra £295
Volvo £150
Manta £1150

£4785, all cash, 13 years, lots of crap :D
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And I thought I owned some ****ters in my time :D
 
Lopéz said:
Cash

Escort £275
Fiesta £150
Sierra £90
Sierra £50
Nova £150 I think?
Golf £0
Nova £100
Sierra £150
205 GTI £350
BMW 320 £0
309 GTI £150
309 GTI £200
309 GTI £400
Golf GTI £300
Rover 200 £125
Sierra £0
Mondeo £400
205 GTI £300
Civic £0
Supra £295
Volvo £150
Manta £1150

£4785, all cash, 13 years, lots of crap :D
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£0 for a Sierra was a bit steep :p
 
Credit card deposit, plus trade in value, plus bankers draft. Previous car was the same. Only two of my five cars have involved a formal loan. I learnt a valuable lesson when one was written off before the loan was paid back.


M
 
I've always bought all of my cars outright with either cash or bank transfer. I'm not adverse to credit but I try to live within my means so I prefer to put £500 aside into a savings account towards a future car rather than pay £500 off a bank loan on the current car.
 
Rotty said:
All I do is tend to put around £600 a month into a 4yr bank loan

after 3 years I have equity in the car, I sell the car, pay off the loan, use the spare for the deposit on next car and start again
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Out of interest, why do you use an unsecured loan rather than a home owner loan?
 
Rotty said:
homeowner loans tend to over lomger terms and in terms of the flat rate not much different
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You can take them interest only and then pay the capital back over any term which suits you though? I dont understand the rate comparison either?
 
Jez said:
You can take them interest only and then pay the capital back over any term which suits you though? I dont understand the rate comparison either?
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I generally pay around 5.8% APR , though last one was 7.4% beacuse of current stuff

this is 3-4% flat which is not far off homeowner stuff anyway, you acnnot really compare APRs due to term

it's an easy way to do it, the interest is not much at all and there is less risk involved
 
Rotty said:
I generally pay around 5.8% APR , though last one was 7.4% beacuse of current stuff

this is 3-4% flat which is not far off homeowner stuff anyway, you acnnot really compare APRs due to term

it's an easy way to do it, the interest is not much at all and there is less risk involved
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A homeowner loan would be significantly cheaper in percentage terms (assuming a fee free interest only tracker @ ~3% APR & a strict capital repayment regime which is kept to), but i guess given those decent unsecured rates the interest is a drop in the ocean anyway as you say. You are certainly paying a price for the convenience of the bank loan though.
 
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