jaygsi

iTrader: (46)

Was just wondering how many people have there scoobies on finance

I'm guessing most classic owners bought out right. Just curious

Kwik

iTrader: (10)

Nope. Just bought the wife a 1.2 Punto £130 a month over 4 years, £2k as a final payment if we want to keep it.

Cpt Jack Sparrow

iTrader: (14)

Nope, just paid for it in the debit card one hit

Dan wrx

iTrader: (2)

Don't do finance, paid mine cash, my philosophy is if I can't afford to pay for it, then Ill either save for it or just not have it.

salsa-king

i had a personal loan as the rate was very good.. better than HP.

Don't own much on the car now as paid off in the new year

salsa-king

be truthful, how much would you go upto to buy your car for cash?



I'd never have had £25k cash to buy a car out right.

bustaMOVEs

iTrader: (31)

I've bought my classic m reg on finance, pay it off in 4 years due to traders rates.

Trinity

iTrader: (28)

Saved like a bitch, had no life, then bought it in one hit. Then still had no life, but a lovely car

ossett2k2

iTrader: (9)

Saved up and paid for,paid less than 3k two and a half years ago and think it's worth at least that now. Nice clean standard classic so am hoping it will start to go up in value but will never sell it so that's not really an issue

rossyboy

iTrader: (8)

Paid mine off circa 2006

GH80

Save up and buy, hate finance. Did finance on my first car, got it paid off and then drove a scrapper for a while until I saved up enough to get a decent car. You only need to do this once then you can forget about finance, once you pay for your car up front you start saving for the next.

IAN WR1

iTrader: (2)

my two kids make me feel like that

i sold my classic 3k and had 4k and got a bank loan for the rest my car cost me 12.5k 6k on a 2 year loan i have had my car close on 5 years now i plan to keep it for 4 more years when the mortgage is up on my london flat we are going to sell the flat the last sold for 370k move outside m25 to a house the mrs is ok with me treating my self 20k budget plus my car i was thinking r35 gtr ????? or a 911 turbo ????? or a rs6 v10 ???????? and a new house with a garage and maybe just a little mortgage that depends on what she wants lol (house size)

s c o o b y

Paid cash for mine perks of paying my mortgage off at 31 . Now on the hunt for a nice classic sti with cash .

rob84

iTrader: (5)

Bought mine outright too

fat-thomas

iTrader: (4)

I doubt its many given the age of most of the cars now

MattyB1983

iTrader: (51)

100% agree.

MattyB1983

iTrader: (51)

I wouldn't have a £25K car then.

cookstar

iTrader: (6)

I paid the whole £500 in one hit.

Andaru

I just saved and paid outright. I don't see the point of paying £17k for something which only cost £15k and is now worth £8k.

thenewgalaxy

I think you'll find that the majority of buyers of Imprezas under £10k are buying outright and the majority of buyers over around £13k are financing all or part of the value in some way.

Fair play to anyone who buys a high value car in one go. I do not have the attention span, patience or ultra-high income to be able to save that amount of money for a car all in one go, saving for the deposit on my house near killed me I will struggle to do that again!

ditchmyster

iTrader: (7)

+1
I had a £1500 loan on a car when I was 18 seemed like it took forever to pay it off 3yrs and hated every minute of it after about the first 3 payments, never again.

As for a £25k loan for a car that is probably going to be worth half of that by the time it's paid off, not for me thanks, closest I came to spending that kind of money was on a £30k Lotus, I had the cash but just couldn't bring myself to part with it for a car, bought a house instead and that's worth considerably more than the car would be 8yrs later.

To my mind if you can't buy it outright you can't afford it, the only reason I would "Finance" a car like that would be 0% and to use my cash for something else.

But horses for courses, depends on your circumstances and priorities, at the end of the day you can't take it with you, but loans make me nervous if circumstances change you can find yourself up **** creek, sooner drive a **** box WRX than an STI on tick pretending to be the man.

huzzy1

iTrader: (1)

Bought my 22B with half a kilo of £50 notes, Spec C before that on my debit card and my new one with cash, hate bankers draft nonsense.

Dan wrx

iTrader: (2)

I couldn't agree more mate, I would never have that sort of cash either, should've probably added mine only cost just under £4k so not a great deal, but I can honestly say ive never had a car on finance though.
But if I did have to buy another car I would probably save up to about 10k then get bored of saving and buy something else lol

mightymaxuk

Saved hard for mine. bought outright, £10,000 for the car and then another £2k on bits etc.

Matt.

blackvenom

Brought my classic with cash, although my dad lent me the cash for some whilst I sold my 3 series. Which took longer than I thought as I waited for a decent offer. But I paid him back, so I guess I need to tick both boxes. I work for bmw and 87% of the vehicles are financed, I love the products but I'm more than happy with my older cars I can do my thing with. Like it's been said before, paying an a largeish amount for a long period, anything could happen which could prevent people paying it off and it's easy to get into a hole

Shaun

Without sounding like a bellend.... I have the means to pay £25k cash for a car, using my own money. I'd still use finance though, if the deal was right.

There are plenty of good reasons to use finance, assuming the deal is the right deal.

There is a big difference between can't pay it and choosing not to pay it.... outright.

Shaun

BTW....

This thread has had over 300 views and yet only 49 people have voted.

I think you'll find the majority of owners don't own their vehicles outright at initial purchase. Finance rates are over 70% with cars. Whether you or I would do that is irrelevant...... we would not be the majority imo. Not that it matters..... it's you money and you make your own decisions on what and how it's spent to fund whatever.

Carnut

Cars are one thing but what about those who have parts on drip such as turbos, wheels etc.

It can take a few years to get the ball rolling but once you have your first car continue to save as if you were paying finance then when the next car comes along you've got the cash, simples.

Shaun

And I wouldn't be naïve enough to think that people don't use finance to mod their cars either. I know plenty of people that have and do.

I wouldn't personally (but certainly did do many many years ago) nowadays, but the same applies. Your money (or someone elses lol), so your choice.

MattyB1983

iTrader: (51)

People always want what they can't afford, however finance allows these people to have it. It just means you line someone else's pocket in the process.

Even worse than finance though is leasing. That idea just boggles me.

The only way any of the above makes sense is if someone else is footing the monthly bill, be it a company car or such like.