We own both our cars. DH drives a 2008 Navara and I drive a 2006 BMW X5. We put any extra money on the mortgage and redraw to upgrade the car when necessary. I was fortunate to be given a car for my 18th birthday by my parents and each upgrade has been trade-in value plus the difference in cash.

I love my car. My last name is not Jones and I don't care what anyone else thinks of my car, just as I don't care what anyone else drives. BMW is well known for safety and that is my primary consideration in choosing a vehicle. I also enjoy driving the car, it is a very smooth and responsive ride!

I did apply for a loan for a car in my early 20's, I think I wanted to borrow about $6K to buy a new Hyundai Excel. My dad didn't wanted me encumbered by a loan and he gave me the money to buy the car. I certainly wouldn't borrow a large amount to buy a status symbol, but I would borrow money without hesitation (assuming I could pay it back!) to ensure my car was safe and reliable.