Do you have a car loan or own outright?

[Phteven]

My dad restores vintage cars for a hobby. He has... A few. And they're all worth a pretty penny, but they're all as moody as they come too XD

I have car envy whenever I see a gorgeous vintage car (Epacris' Wolsely turns me bright green) but I would never have the dedication to keep one on the road. Unless maybe it was a vintage muscle car....

[krysalyss]

We have generally owned all of our cars outright. We usually just get cheap but reliables. We almost got a honda civic on a whim but regretted the loan which was from a car dealer. Luckily it was still within the cooling off period. When we worked it out the difference in loan terms between the car dealers loan arrangement and a bank were huge. So I guess that is what I would say - if you get a car loan - be careful who your provider is as it can make a huge difference to what you pay in the end.

[beansbeans!]

We've done both, owned outright and had loans. Personally I dont have a problem with either as in the end you are achieving the goal of owning a car. yes you pay interest on your car loan, does it really matter? That loan once paid off goes towards your credit history, and thats definately not a bad thing. Owning outright means you dont have debt, definately not a bad thing either.
Currently we own all of our cars outright plus DH's motorbike. But what erks me the most is not the interest in the loans but the amount of money the govt gets off us everytime we sell and buy new cars. Thats the hardest part for me to pay, and everytime I regret the buy on one level or another once I have to walk into the rta.

[lissy]

Well I feel bad now.....but we have loans for both our cars - 2009 Prado & 2008 Cruiser Wagon. We did own our previous cars outright though & we needed an upgrade before bub came along.