Do people really take out 60 month car loans

60 month loan on 4 or 5 years old car - no

60 month loan on brand new or 1 year old car - yes as long you plan to keep the car for 5 years. not a problem
 
I have now owned my Micra for 6 years (I know, I know :().
To think I got it at 4.5 years old and would only have paid it off a year ago is a shocking thought (I bought it outright for £2600 from a dealer in 2005 with 19k on it).
It is completely beyond me how someone cannot save up £3000 for a car - Yes James07, I am looking at you!
 
I've had my current car for 7, nearly 8 years now, so some people do keep cars for long periods but a 60 month loan, get out of here :)
 
If we're paying "horror finance stories" top trumps, I once took out 36 month finance on a PC from the purple shirts.

NEVER again.
Taking a 36 month PC loan got be worst then a 60 month car loan..
It wouldn't be so bad now days as most 3 year old PC gaming systems can still play the lastest games...

But years ago a PC gaming system needed to be upgraded about every 12 months to be able to run the lastest games..
 
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I have done. Twice.

Last car I kept for 18 years (bought from new)

Latest one is in the "show us your motors thread". I could've paid cash for it but even though I'm paying a premium the cash is better off in my account than not.

The mortgage is paid off in six months so we will pay the car off early anyway.

I'm the only breadwinner in this household and its been that way for nearly 25 years, you don't blow your nest egg on something as pathetic as a car.
 
Taking a 36 month PC loan got be worst then a 60 month car loan..
It wouldn't be so bad now days as most 3 year old PC gaming systems can still play the lastest games...

But years ago a PC gaming system needed to be upgraded about every 12 months to be able to run the lastest games..

Well it was the whole "OMG i'm 18, I can get credit" feeling. Basically the first thing I did was go and buy their "gaming" PC - it had an MX440 for graphics card.

So then I had to drop £200 on a Ti4200 to get it to acceptable performance.

Needless to say, now I just buy my components with the money I save.
 
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