Is your car financed or do you own it?

Stallingrad

Do you own your car outright or is there finance owing? Just curious.

dar83

Motor/personal loan also another option.

MugMugs

Stallingrad wrote: »

Do you own your car outright or is there finance owing? Just curious.

Why ?

pred racer

Personal loan.

OldmanMondeo

None of your business!

Supergurrier

Credit Union loan, only job, car is yours from day one.

People who pay via finance are loons

Nissan doctor

I got a loan for my first car, haven't had finance/loan on any car since.

fletch

Own in full...saving for my next car so I won't have to pay interest on a loan.

helimachoptor

My own, but got a CU loan out, paid if off early though.

As above CU is the only game in town!

Dr.Rieux

Paid it off last Friday

R.O.R

Financed of course. Much better things to do with that amount of money.

Paid in full. All €150 of it*.

*To be fair, I got my mate a €150 voucher to Chapter One for giving me the car for free.

bazz26

My first car was bought with a credit union loan, have bought them with my own money since then. I try to have as little debt as possible.

transam

what i do is half cash and d other half credit union loan

awec

This post has been deleted.

Kopparberg Strawberry and Lime

all paid for in full upon purchase.

i just dont like the mess

ninty9er

Credit Union loan. I've had one pretty much without a break for nearly 7 years, car number 4.

Pretty much counterbalanced by savings, but Id hate to spend them and have no safety net and a depreciating asset to blame for it.

Combination of credit union loan, personal loan, few hundred out of the ATM on the credit card & family whip around.

Autosport

Paid in full

FarmersSon

9 more payments to go. Vanity purchase towards the end of the boom. Will never buy a motor on finance again.

maidhc

Never borrowed for a car, never plan on doing so.

Plenty fine cars there for handy money.

cletus

Paid the whole €500 up front and in cash

Third_Echelon

2 more payments! :-) got a car loan from the bank...

Mint Sauce

Paid in full, and not a single loan of any description.

dgt

All cars paid for in full, owned outright

Except the 166 which was deposit and paid later

BUBBLE WRAP

Paid in crisp clean cash my good sir.

Karen23

Finance which will be paid in full in Feb 2014.

Previous car was a Mondeo and the head gasket blew , lost a lot of money on it so couldn't afford to buy another one out right so finance was the only option at the time.

Hopefully when this car is paid in full I'll sell it and buy a smaller car out right with the money from the sale

Scubadevils

Just availed of the half way rule on finance a few weeks back and handed back a car that I loved but was costing me way too much, bought a cheaper car for cash that I now prefer - so a win all round! Oh and I was told I owed 26k on the car, which had a market value of €16k :eek: I don't plan to finance a car again.

Difference Engine

Paid for in full.

I have never had a loan for a car but then again I've never had an expensive car either.

langdang

Trip to ATM + some cash back on Laser card. Bangernomics all the way hahaha....

fletch

ninty9er wrote: »

Pretty much counterbalanced by savings, but Id hate to spend them and have no safety net and a depreciating asset to blame for it.

I'd much rather not be paying interest on a loan.

ninty9er

Scubadevils wrote: »

Just availed of the half way rule on finance a few weeks back and handed back a car that I loved but was costing me way too much, bought a cheaper car for cash that I now prefer - so a win all round! Oh and I was told I owed 26k on the car, which had a market value of €16k :eek: I don't plan to finance a car again.

...€52k car:eek: On finance??

fletch wrote: »

I'd much rather not be paying interest on a loan.

So long as you can guarantee your income that's fine.

Voodoomelon

Strange poll, as in the only difference between the two options is time.

Scubadevils

ninty9er wrote: »

...€52k car:eek: On finance??


So long as you can guarantee your income that's fine.

Yes I was a complete idiot... well it was 44k new and at the time my job paid a car allowance which covered the repayments, I didn't allow that I might not always be in that job! Anyway, live & learn!

maidie

FarmersSon wrote: »

9 more payments to go. Vanity purchase towards the end of the boom. Will never buy a motor on finance again.

I did the same think, spent 35K but working all the hours God sent, Never will I borrow for a car again, love my car but afraid of what its worth now, anyway paid off about 6 months ago, I should be better off but funny enough I'm not

FarmersSon

maidie wrote: »

I did the same think, spent 35K but working all the hours God sent, Never will I borrow for a car again, love my car but afraid of what its worth now, anyway paid off about 6 months ago, I should be better off but funny enough I'm not

I bought a brand new Honda civic type R in the middle of the boom, again on finance, and then bought a brand new Navara on finance as well. I don't know how I managed to pay both finance payments for the two years that they over lapped. Couldn't do it now. No longer have the Honda. Sad times

Matt Simis

Cars owned by myself, shirt and everything else owned by various banks.

Stheno

We own both ours but they are bangers lol

lomb

Depends on cost surely, my current car is worth all of 5k, I bought one new about 10 years ago for 14K in the UK which was cash. I personally wouldnt borrow for a wasting asset when any car is essentially worth about 2 grand in utility value(yes even a brand new Aston ) The rest is ego and bull$hit for the most part(yes newer cars are more efficient have lower road tax, have new tires dont need nct, dont need as much maintainance etc so not completely true.) All cars have the same essential function of A to B which as I said is worth around 2 grand which is what a reliable car can be had for!

Manufacturers and dealers love finance as it enables the purchase of cars youd never buy with your own money as youd deem it a waste. Dont get me wrong Id buy a 85 grand car in the morning if I had it to 'waste' as I like cars. But Id want to have that 85 in cash probably with another 800 so I didnt miss it! Will be a while yet me thinks..

djimi

Interesting how low the number on loan/finance is.

Of those who said they paid cash, what sort of money are we talking? I can understand for a car worth a couple of grand, but I dont think I have ever come across anyone who was either willing or able to spend upwards of €5k-€6k on a car without having come kind of loan to cover it.

Paid half from savings and borrowed the other half against saving in the credit union. I wouldn't trust myself to save money every month but I've no choice but to pay the loan so I prefer this way.

maximoose

3 payments left, cannot wait to have that extra cash in my pocket each month and the car is still serving me well so no plans to change

fricatus

Borrowed from mother - agreed an interest rate that was higher than she was getting on deposit and lower than I'd be paying, even in the CU!

Car wasn't new or OTT or anything, but even €12k takes a good while to pay back.

About six months to go, and never again will I borrow for a car (even at that low rate). I'll save about €6-7k for the next car, plus €2k for repairing the existing one, and then just keep each one until it's on its last legs. Priorities have changed now...

TestTransmission

Own mine outright,didn't exactly cost much in the first place anyway

MetzgerMeister

Ever since my first car in 2004 I have been repaying car loans except for a few months when I was on the dole. I had finished paying a car loan 2 months before I was made redundant then started again when I got my current job.

I love cars and I get bored of them quite easily. Most of the cars I've owned for just a year before moving on. This time though will be different, I love the car a LOT and the loan is over 3 years but the repayments are handy and the interest rate I got was a very good one indeed.

djimi

djimi wrote: »

Interesting how low the number on loan/finance is.

Of those who said they paid cash, what sort of money are we talking? I can understand for a car worth a couple of grand, but I dont think I have ever come across anyone who was either willing or able to spend upwards of €5k-€6k on a car without having come kind of loan to cover it.

7k outright, no loan

Chris_Heilong

I have never paid more than €2000 for any of my 3 cars so just got cash and paid in full.

L1011

Bought with unsecured loan, fully paid.

Company car is leased

biko

I've only owned cars I could pay cash for. Would hate to have a loan and the car breaks down or starts burning money.

cadaliac

biko wrote: »

I've only owned cars I could pay cash for. Would hate to have a loan and the car breaks down or starts burning money.

I don't get it, sorry. If the car breaks down it will cost you money regardless, loan or not.

Max Power1

cadaliac wrote: »

I don't get it, sorry. If the car breaks down it will cost you money regardless, loan or not.

yes but repair costs > repair costs+loan