How do you pay for your car?

Cash you never know when your income could change !

I almost bought a new car a few years ago untill on the morning of doing the deal I sat on the loo reading the paper work and noticed the vat was around 4k and thought what a rip off ,why should I pay the goverment 4k ,I could buy a nice second hand car for that. So thats what I did.

Spending a lot of cash on cars seems like a terrible waste to me I would rather have it in the bank you can get some really nice older cars and don't really lose much when you sell on .
 
what ever way you look at it, its going to cost money if you want to enjoy your car. new cars have depreciation and then an older car like my BMW which i bought for a bottom-of-the-barrel £2500 will cost me money in putting things right
 
Next car will be a lease but in the past have used bank loans and cash outright.

I don't think there's any right or wrong way to buy a car, it just depends on your individual circumstances.
 
I've bought with cash, bank loans, HP through dealer finance, HP through manufacture finance and PCP. It depends on the car, circumstances of buying, what I'm going to use the car for etc. I always look at the options and go for the one that suites me the best at the time.
 
Part cash part finance, nothing wrong with that as long as you know what you are doing and have a bit in the bank incase circumstances change.
 
All cash up front, pain in the ass saving up as I'm not the most patient of people when I want something.

Saves the usual hassle of loans and interest etc, like to pay off everything in one go so I don't have to worry about it ever again.
 
[TW]Fox;24303909 said:
Top tip, stop buying 316s. There is no reason to buy one, the 318 is no more expensive nor any more thirsty.
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I will definitely look at a 318 for my next car instead Fox, thanks. Choice this time was determined not by specs, but insurance. As a second year driver, the insurance difference between by 316 and 318 was double the price :eek:

Hopefully Year 3 of driving will be a lot better, though I'll only be 24. Year 4 of driving is when I expect insurance to be more affordable with 3 Year NCB and being 25.
 
Castiel said:
There is nothing wrong with credit, as long as it is managed correctly.
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This.

My current car was paid for on a 16 month 0% credit card.

When it gets to the end of the 16 months, I'll either transfer it to a new card, if any good offers available, or pay it off.

For now, I just have to make the minimum payment each month.
 
div0 said:
This.

My current car was paid for on a 16 month 0% credit card.
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Whether you know about it or not you'd have paid 3-4% extra on the price of the car. The dealer has to pay signifiant fees if you buy something like a car on a credit card, so much so most refuse to accept them for cars and those that do either surcharge you for it, or will make sure there is enough in the margin to cover it (That you'd have been able to get off if you didnt use a credit card).
 
[TW]Fox;24354140 said:
Most people don't have a fortune for a first car, which is why £1500ish Fiestas are new car staple rather than brand new ones on finance :p
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I wanted something nicer and more reliable, besides, it's not brand new, it's only 5k :)
 
I've done both. I wanted a car quickly and could afford the repayments without even worrying about it so I took a loan out, and paid a bit more over the time of the loan but I didn't really mind. It was the advantage of having the car I wanted quickly.

I've p/x and cash bought most of my cars though.
 
[TW]Fox;24354153 said:
Whether you know about it or not you'd have paid 3-4% extra on the price of the car. The dealer has to pay signifiant fees if you buy something like a car on a credit card, so much so most refuse to accept them for cars and those that do either surcharge you for it, or will make sure there is enough in the margin to cover it (That you'd have been able to get off if you didnt use a credit card).
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Price was agreed prior to agreeing payment method.

They applied a surcharge of 1.5% to pay by CC.
 
Hopes and dreams, with cash. To be fair, I'd not be against getting something on lease from the dealer if I got a decent rate and good conditions. Meaning I could change often to help my boredom.
 
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