Do you have a car loan or own outright?

[volcomkitty]

I don't know many people who can purchase a car outright....but I do know alot who seem to change their cars almost as frequently as their hairstyle! One girl I know who is about 28 has had around 6 brand new cars and 2 second hand ones in her driving lifetime.

umm....I'm 28 and have had 6 brand new cars and 1 second hand one...

2 of them were DH's through work, my current car is a loan and we own the usedy outright.

[~Hestia~]

We own DH's car and mine is leased through his work for tax purposes. The lease ends either next year or the year after at which point we will own it outright.

[Mum2Romone]

we have owned.... A Mitsubishi mirage bought brand new in 2004
A batman car
A ford
Two 98 model bmws
A Torana
A Holden ute
2 datsun 180b's
A Lexus"...... And that is just in our relationship.....

We now own a statesman, Holden.... Outright.. And a motorbike though dh has no current license...

always paid cash and never buy what we can't afford, thats just our way

[Raupe]

Bought outright - both cars :
One is a crappy old Ford Laser and one a not quite so crappy Hyundai Excel

[Cranky Kitten]

We own a 2005 Mazda 3 outright, bought through a car loan which has been paid in full over 5 years, and recently traded our 2007 Lancer VRX for a 2010 Outlander with a loan to cover the difference (the Lancer was initially purchased new through finance but paid out early).

The Outlander is our family car but isn't brand new - was bought as an ex-fleet vehicle with low k's and scored some pretty decent savings on it.

Would love to be in a position to buy our cars outright, but for now this works for us as we don't have a mortgage (yet).

[~StarBright~]

I bought my first car outright for $1000.. a little yellow charade

We went through a looooong sad list of dodgy 5th hand crappy, unreliable cars which we owned but would spend way more trying to keep them going, but it was all we could afford outright.

So we finaly bit the bullet and got our 2004 Territory on loan. We are about half way paying it off, and by the time we pay it off it will be worth pretty much 1/8 of what we paid if that lol!! But it will be ours!! And we will then probably trade it in for another loan for a newer model!

[Glamourcide]

Our first two cars were purchased third- or fourth-hand, and bought outright - DH's was an old VL that he bought for $1500 off a neighbour (as junk) and got it running after a couple of years of working on it and throwing money at it. We sold it as a 'project' to another friend when DD1 was due (it still wasn't running great and I wanted a 'family' car), luckily a mate of DH's was looking to sell his VP, we paid $1000 when we got the keys, and gave him another $2200 when we received our baby bonus a couple of months later. It did us very well for about a year, then started stuffing up so we took the plunge and went into debt for a second-hand VZ, thankfully we got a really great deal on it as we bought at the right time - we still have that car and DH paid out the loan when he got his inheritance, so we now own it outright.
DH was looking at getting an industry job a few months ago and the shift work and commute meant we would need a second car, so we got another loan (just over $8k) for an Astra, which is 'my' car for running around town with the kids. We'll be keeping both of these until they die on us Unless we win Lotto or DH gets a trade, and then when we're in the position to, he wants to get a loan for a 4WD so we can go camping in new places

[LionsandBears]

Own my car outright. It's a 07 or 08 Kia Rio. Bought with cash and a trade in. I had a loan for my last car which I kept refinancing with credit card debt until I finally cut my card up. I was so proud when I finally paid off that loan. By definition, most cars are a liability, not an asset so I'd rather not go into debt for one. (as per my old finance class, an asset produces an income, a liability produces an expense)

DH's car is financed. Once that's paid off he'll probably lease something. I need to start saving for the next car which I'll probably buy in 3-5 years.

[Jellyfish]

Own my little second hand Toyota Yaris, can't see myself ever taking out a loan for a car, rather just not have one personally (didn't get mine till 2yrs ago when I was pregnant with DD and thought I would need the convenience but still barely use it). DP also owns his car, second hand too.

Never had a credit card or a loan for anything, the idea of owing money freaks me out >.>

[Cocolove]

We have a 2005 Ford Sedan which will be paid off in Januray 2012 when we will upgrade to a Ford Territory or Explorer but not brand new!!
DH's has a 1996 Ford Ute we own outright