Loan. We've borrowed for all our cars over the years except DH's work van which we bought outright. We've only ever had one brand new car - a Hyundai Excel. We've never borrowed more than $17k for a car though and always paid the loans off.
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Loan. We've borrowed for all our cars over the years except DH's work van which we bought outright. We've only ever had one brand new car - a Hyundai Excel. We've never borrowed more than $17k for a car though and always paid the loans off.
Loan for ours.
My 1st car was a loan. Sold it when we decided we only needed 1 car and DH had loan on car he had then
This is our 2nd car loan on a family car in time we have been together.
Could not afford to pay outright. All above cars are and were 2nd hand never new.
We have a 2010 Captiva LX
we bought ours outright. we were lucky in that we lived for a few years in Fiji and as there was nothing to spend our income on we were able to save loads. so when we came back we bought a brand new honda civic :)
it's a grandma car but we love it :lol:
We own our 2008 Camry.(we are a 1 car family!) Redrew on our home loan some of the extra money we put in. We bought second hand, the car was $20000 and cost $16000 changeover with trade in :) it only had 16,000km on it and saved us HEAPS on a newie :)
Own my 2009 Holden Wagon and we own DH's 2000 Volkswagen New Beetle. Going to be selling the New Beetle and DH will be buying a bomb to get to work and fish in, we also own a VW kombi but it's being sent away to be totally done up over a couple of years.
Once we build our house we will be upgrading the wagon to a new VW passat - but will need a loan for that!
we own my 2004 mazda 323, paid it off before DD1 was born, refuse to buy another car as long as this one is running! great runabout car!
DH's novated lease through work, we get allocated money as part of his salary to buy and run a car, every year, currently own a Ford GE6 turbo (he's in love with it lol ), we get a new car every 3 or so years, but we only buy what we can afford and we generally dont go over what's allocated so we arnt out of pocket
:redface: 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.
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.
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
Bought outright - both cars ::D
One is a crappy old Ford Laser and one a not quite so crappy Hyundai Excel
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).
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!
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 :)
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.
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 >.>
03 landcruiser and 05 SS commodore. Own them both outright and we worked bloody hard to pay them off ASAP!
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
We own both our cars (Mazda 3 and Mazda CX7) outright. DH has always been awesome with finances though and has never had a car loan. I had a loan for my first car but then I met DH and that was it :)