Poll: Do you actually own your car?

Do you actually own your car?

  • Total voters
    494
Owned outright

98 Omega MV6 3.0 Long term project
2002 Omega MV6 3.2 Parts car
2002 Omega MV6 2.6 Parts Car
2000 Saab 9-5 2.3T . very broken project

Taxis owned

2016 Mondeo 2.0 TDCI
2014 Toledo
2014 Toledo

Financed

2016 Kuga
2016 Toledo
2016 Toledo
2017 Vivaro Minibus
2017 Vivaro Minibus

i'm slightly different as the taxis are actually rented out i've only got 1 of the toledos at home atm and the wifes Kuga . the projects are all in the workshop and everything else is with drivers
 
HangTime said:
I guess it depends what you mean by 'extreme value' but I suspect some people also suffer buyer's remorse, whereby the idea of owning something, the months of planning and the initial thrill from achieving it dies out fairly quickly and you are then left with something decent but hasn't fundamentally changed your life. I've felt it with cars, computer parts, TV, heck even our house to some extent. The satisfaction of 'getting a good deal' becomes almost bigger than the satisfaction of ownership. It's probably part of the reason why we buy a new car and then within a year I'll be researching the next move (even though it probably won't be enacted for a couple of years more). Maybe one day I'll take a different approach and just go out and buy the car we really want even if I don't think it represents good value, but I suspect that wouldn't change much in terms of the post-honeymoon come down period.
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Without being too pessimistic, this is a big part of modern life for many people. I do look at cars a lot and could change mine, but I don't feel that my life would be significantly enhanced as a result. Still going to be sat in traffic jams, still have to put up with the cack driving on display by many.

How many of us admit though that our purchases aren't always what they're cracked up to be? Taking a new car out can be great. But is it worth the outlay, the debt, the maintenance, the issues? For some that's possibly a resounding "yes". For many though. I think their opinion would shift on reflection, given time.
 
Gibbo said:
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
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You can pay council tax annually (at least with most councils) and it's not really variable outside of the annual review period unless you move house or change to/from single occupancy. Bit pointless though as you don't save money by doing so. Generally rule of thumb should be, pay monthly if the total amount payable is the same or less than a lump sum payment as this allows you to earn interest on (or otherwise invest) the money until it is time to pay.
 
I am actually surprised. I thought it would be a lot higher percentage than the poll suggests I own all three of my cars but they are nothing special. My personal aim is to get my mortgage paid off before I am 40 then I will use that new found income to purchase something nice.
 
While it is still feasible to buy a perfectly serviceable car for a fraction of the cost of a new one I really can't see me doing anything other than owning my own cars. A car just isn't important enough to me to have a debt attached to it.
 
adam cool dude said:
I am actually surprised. I thought it would be a lot higher percentage than the poll suggests I own all three of my cars but they are nothing special. My personal aim is to get my mortgage paid off before I am 40 then I will use that new found income to purchase something nice.
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If you can pay your mortgage off that early then that's astounding (Well done). We paid ours off about 5 years ago but still put that money into a savings account (as we've always accounted for it we don't know any different) and it RAPIDLY builds up so it's a good way to save for expensive stuff.

Sadly it's a new boiler that's on the "To-Do" and not a car as it's now 20 years old but we've already (now) got the dosh for it. (About £4k) We already dipped into the (mortgage) savings to install new double glazing throughout !
 
Bought my Golf at the end of the lease period as for the money it wasn’t a bad deal, still might change it early next year depending on how good the Q4 bonus/commission is ;)
 
2008 Honda Civic Type S. Bought for cash just over a year ago with 46k on the clock for £4k and all I have had to do is replace the battery, which I knew when I bought it. Sailed through its MOT in March and just got a full 72 point service and no extra work needed apart from the basics. Love this car and I drive it daily.
 
So then, what have we all concluded from this thread?

Is it that anyone with finance on a car is not able to really afford the car, is therefore just keeping up the impression they are successful so they look good to people they don’t know or their friends down the pub? Then that people with 20k of cars they paid cash for are serious money earners because they paid cash and therefore are much more successful than some wannabe with a Senna with 600k of finance on it, a car they can’t really afford?

I know that’s how it used to work, is it still the same or do we need a vote n stuff?
 
I bought my FN2 outright recently but it was only £4.5k. Previously I put half down in cash on a golf R and took a 5 year loan out for the other half so technically I owned that but I had a substantial amount of debt too, I ended up selling it after a year as it was a pretty poor financial decision which was out of character for me (and my mileage was so low it didn’t seem worth the outlay)
 
I own it. Got my civic almost 3 years ago for £1500 and now in the process of getting it registered in Finland. Touch wood it can soldier on for another few years while I'm in uni.
 
Own outright, though it is a 14 year old Volvo S60 D5 that cost £2000. Been faultless since and passwe every MOT, just basic consumables have needed replaced which I do myself. Will run it until it is no longer worth keeping on the road.
 
Fusion said:
A 5 year car loan seems a very long term. Mind you, in the states 7 and 8 year loans are taken! Bonkers.
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I chose a 5 year loan purely for the lower monthly repayments, I had no intention of keeping the car anywhere near 5 years so it just kept the monthly costs down until I sold it a year later and paid off the loan.
 
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