Poll: Do you actually own your car?

Do you actually own your car?

  • Total voters
    494
I'd like more examples of these "depreciation beating" lease deals! Comparing lease value to RRP is disingenuous. Leasing favours even worse when comparing to nearly new cars (Ok, we're not comparing apples with apples entirely, but the drop in price to get a 9 month old car more than compensates for not being the first owner, providing you can get your colour/spec combo, or you don't mind compromising a little).
 
Kenai said:
I expect you'd get a different result if the question was "who owns their car and has never had any finance on it ever?" I think you're getting a few 'loan is now paid off' Yes answers as it is.
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Exactly. Although that could skew things the other way a bit, because you'd pick up people who had cars on finance for a very short period just to make it cheaper (getting a deposit contribution and then exiting the agreement as soon as possible to minimise interest payments), rather than because they actually wanted finance.
 
Yup...thanks to a good'ish year on crypto mining (not trading), not to crinkleshoes level as I only started again this time last year but it's paid for a 36k mile Mazda 3 MPS mk2.
 
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Fusion said:
What's he done wrong, again?
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Seems some people take objection to me wanting to pay things off early and posting my plans to do so and how I go about doing it and trying to save interest and have my wage to try and enjoy life.

Again? This implies I already did something wrong? :p
 
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Gibbo said:
Seems some people take objection to me wanting to pay things off early and posting my plans to do so and how I go about doing it and trying to save interest and have my wage to try and enjoy life.

Again? This implies I already did something wrong? :p
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:p The "again" was just me asking for clarification from Django. It seems their gripe is with you being too enthusiastic and perhaps carefree, heaven forbid :p
 
Fusion said:
:p The "again" was just me asking for clarification from Django. It seems their gripe is with you being too enthusiastic and perhaps carefree, heaven forbid :p
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Fact I want to pay it off to save paying the additional interest is not bowler life or whatever saying is, I want to save that money rather than give it to some finance company, when I purchased the SVR I did not have 80k, so I needed the finance to get into the car, now I am approaching a position where I can pay it off two years early, save that interest and thus it makes perfect sense to do so, to me anyway. Then if and when I sell or part exchange it the value given can go in bank, against next car etc. no loan/finance to pay off so for me less stress, less hassle.

Probably me mentioning Vegas, no idea how little or how much I will spend out there, you simply can't call it so I need to wait until after so I am not watching pennies whilst out there as nothing is cheap, in fact some of the prices are nothing short of a joke, particular food/drink which is why I don't stay long in Vegas, am there for work, but I shall then hit the PCH and enjoy the views and more relaxed atmosphere. :)
 
Ironically while I am happy to finance my cars (I only have one at a time)....

I don’t believe in contract mobile phones or financing overclockers computer stuff or financing the latest Apple MacBook.

I buy my phone and anything else really by cash. Explain that haha. :o
 
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Blackhawk47 said:
Ironically while I am happy to finance my cars (I only have at a time)....

I don’t believe in contract mobile phones or financing overclockers computer stuff or financing the latest Apple MacBook.

I buy my phone and anything else really by cash. Explain that haha. :o
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Maybe its economies of scale. My phone, I just pay the airtime/data monthly fixed bill. The handset I own and trust me dropping £1300 on a phone seemed pretty insane to me but at the same time I generally only upgrade my phone every 3-4 years, but I am in the Apple camp so unfortunately have to pay their stupid prices. But to me it was worth it and a massive upgrade from from a iPhone 6 to a 10 XS Max, my 6 had become so slow and battery so pathetic it was time.

Likewise for car insurance, paid in one go, car tax same. Only monthly stuff is the stuff that I can't pay in one go or the stuff I can't afford to pay in one go. So stuff like water, gas, electric, virgin tv/internet, council tax as unless I am mistaken you can't pay a lump sum because your usage is well unknown and of course the SVR as I did not have 80k in spare cash to just drop on a car, so finance was required, I battled to get a rate I was happy with and will pay it off early. :)
 
Django x2 said:
Don't worry, Gibbo is small fry to a lot of people on here who have the ability to be far more humble about their finances.
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that is close but Gibbo has done nothing wrong really, there are indeed lots of people on here that are wealthier than appears.............Gibbo is doing the right thing, pay off that debt, never have outgoings/overheads every month, not if you can help it. plus of course if Gibbo clears that debt, it'll be far easier to borrow even more next time !!
 
Yes, I paid cash for my S4, as I have with every previous car.

The wifes Tiguan is on finance, as was every other car she's owned.
 
Mal X said:
that is close but Gibbo has done nothing wrong really, there are indeed lots of people on here that are wealthier than appears.............Gibbo is doing the right thing, pay off that debt, never have outgoings/overheads every month, not if you can help it. plus of course if Gibbo clears that debt, it'll be far easier to borrow even more next time !!
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Spot on!
In my mind I also feel its easier for me, I can sell the car privately with no hassle and get more money, yes I know you can still sell a car privately with finance, but I like the least hassle option.
Plus if I was buying a car privately and the car had finance on it as daft as it might sound but it would put me off looking at said car, why I don't know because I know its not a real issue as the guy who purchased my M3 CSL had finance on his Porsche and he had to pay that off to get my CSL or something like that, I left it all to him all I was bothered about is that I had the monies in my bank.
 
[TW]Fox said:
Why do people say this? I know it sounds really intelligent and financially astute but letting someone else own an expensive depreciating asset and then paying them for the depreciation isn't really much different is it.
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Depends what you do with the money doesn't it. My car is just a workhorse now and my work expenses cover the monthlies and running costs, I'd much rather have 20k sitting in a fund ready for when we have an extension/upgrade kitchen - or if something happened in an emergency.

Might just be my current circumstances with work but I'm all for zero deposit lease/pcp at the moment.
 
mr tommo said:
Depends what you do with the money doesn't it. My car is just a workhorse now and my work expenses cover the monthlies and running costs, I'd much rather have 20k sitting in a fund ready for when we have an extension/upgrade kitchen - or if something happened in an emergency.

Might just be my current circumstances with work but I'm all for zero deposit lease/pcp at the moment.
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Would you take out a personal loan to have the money sitting around incase it came in handy? It's not that different, perhaps even cheaper, yet most people would consider that bonkers. Is financing a car incase you need the money not basically the same thing?
 
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