How do you pay for your car?

Bromhead

Bromhead

Bromhead

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Joined
11 Nov 2012
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Location
Staffordshire
I've never bought a new car before, I'm a second year driver and always paid in cold hard cash.

My first car a Corsa B and my current car a 316i.

I was curious about this and to you people who purchase new cars or cars which aren't that old. Do you pay cash, or finance.

For the people who do use Finance, what's the normal length of time for the finance deal and do you prefer this method of payment? Downsides and upsides?

Any experiences regarding the finances of buying cars would be very helpful.
 
Only ever do cash, there is nothing wrong with finance but I personally like the simplicity of looking at what I've got and how much of it I'd like to spend and do it all in one hit.

I can't honestly see myself ever getting finance on a car no matter what my situation but that is just personal preference.
 
Cash.
I became completely debt free in March this year. I will never take credit again.

I used to do PCP years back when I was doing mega miles for a living.
 
When I bought my Audi last year I paid cash, but if I had taken the finance offer they had at the time and saved my cash I would have actually made money out of the deal.
 
Cash these days, previously borrowed but off my Dad, not a bank - did that before, never again!!
 
My last few cars have been cash, but if a suitable finance option was available (low interest rate, no early payment penalty etc), then I wouldnt dismiss it out of hand. It depends what else I may want to do with the capital at the same time.
 
The only brand new car I've bought I paid for by card for the deposit and then with a bank transfer for the full amount.

Everything else has been cash.
 
Took a bank loan for about 1/3 of my Z4. Was going to pay cash but needed the money in the bank for capital on a possible house move.
 
Only ever bought outright + PX for the previous car.

My wife bought her last car on finance simply because Mercedes offered 0% so figured it'd be better to pay it off monthly and keep the lump sum in the bank giving us interest - and if anything horrific came up :)

I wouldn't ever consider using the finance from a dealer as from what I've seen its rather high, just jump on any finance comparison site and as long as you are borrowing £5-6k+ you can get extremely good deals atm!
 
First car was cash, the second the salesman said he'd prefer debit card coz he gets charged to pay cash into his business account

MW
 
So many cash buyers here.

I've never paid cash for a car, even when I bought a 2002 Focus for £3k. With interest rates so low the total paid back is barely different from the loan amount.
 
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All my cars to date have always been cash purchases, I prefer this so that there are no monthly payments to worry about in the of unforeseen future events.

Does mean that I don't change cars until I've saved up enough though :( had my current car for 9 years now and am itching to replace it :)
 
cash.

Im spending my money on other things at the moment, so i havnt got a car. I did think about finance, but hate the idea of paying extra for something when i can just wait and save.

oh, and for people who say "but some folks need a car" yes, yes they do, not many though, most people who say they need a car dont. i live 60 mile away from work and what not, and i survive, just means i have to put my self out a lot more.
 
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