silent running

Following on from the 'Impreza gone to the dogs' thread, I'd be very interested in finding out who on here actually OWNS their Scoob. I think that paying for your car out of your own pocket in cash gives you a very different outlook on ownership to someone who buys new or newish cars, trades in every three years on some kind of hp / loan scheme or has a company car etc.

I personally bought the best car I could afford for £4-£5k that did everything I needed (a classic WRX wagon incidentally) and would hopefully last a long time. Whether there are 'chavs' driving them around or the resale value is low etc etc are things that simply do not affect me.

And now I come to think of it, it would be interesting to see how much on average people spend on buying a car with their own money, and how much they spend if it's someone else paying in the first instance e.g. a bank loan, a company car scheme etc. I can't believe there are that many people that actually spend say 25 grand of their own real money i.e. cash under the bed or savings - on a new car. There's a lot of derision sometimes on SN because Scoobs are now available at '£3k' but I wonder if this is from people who don't even own their own car outright? They've got an expensive Scoob, but whose actually is it, when push comes to the shove?

homerjay

i change my car every year, and i dont have 15k lying around so each year i get a loan, pay it off over 5 years at £300 a month.

when i sell the car i pay the remaining part of what i owe back (about 12.5k) and start again.

so all im doing really is paying off the depreciation, at £3600 a year...

RB5_245

I own the RB outright, but had to take a small loan to buy it 4 years ago (long payed off).

howellsy42

i got my wrx sti 1995 4 weeks ago and paid cash for it !!

rasheedn

i got my 2004 Sti on monday! payed with a nice cheque!

davyboy

This is a strange poll that has odd resluts.

You tend to find that people are very quick so say they have paid for their car in full. People are less keen to say they have the car on a loan.

You only have to look at some of the threads about debt to see that the poll is in fact bollocks.

Although maybe you need another entry.......I paid for my car cash, but I remortgaged, and are in fact paying 40k for my 20k car

dogpole

classic bought in 2000 with a 3 year loan.
only owes me running costs and on going mods now

TimWRX01

iTrader: (1)

If I had £25K to spend on a car I wouldn't be driving a bug eye!

I own half of mine and have a small loan for the rest.

turboDean

iTrader: (4)

Bought my classic 3 years ago, had a loan which i paid off in 18 months, so all it costs me now is running/modding costs.

MTayler

Bought my WRX '03 PPP in February and own it outright, no loans or finance of any sort, it's a great feeling !.
Traded in my '05 plate Fiesta ST for it plus cash so it did'nt hurt so bad as it could have done.
Was going to buy a Focus ST3, but the itch to own my first Scooby would'nt go away plus did'nt want to wait until April ( at the time ) for the Focus.

Cheer's.

Buster-WRX

Well Im not afraid to say I dont pay for mine.
I £350 per month from work to buy a company car.

The scoob had been a dream since I can remember and finally swapped by ****ty freelander for it in Feb and will never look back.

I consider myself lucky to be able to do this but wouldnt say I am not passionate about the car or dont apreciate it as much. Having said that you are right that I wouldnt or couldnt spend the same amount if I didnt get money from work.

For info It is a MY03 wrx PPP Monster!!!!!

WRX_Dazza

sounds like a bettyboo thread, lol.

what do you do, how much do you earn, how bigs your house....

i got an overdraft for the insurance, paid off a week later
part-ex my bmw for the scoob, the rest £££'s

fluctuating between black and red now between paydays and fillup days!!!


dazza

TimmyboyWRX

I payed for half ( nearly lol) of my 03 WRX with hard cash and part ex, the rest is on a subaru loan over 3 years. dont mean i dont appreciate the car or the money or anything..but it keeps me in the black lol

Paulo P

iTrader: (42)

Not an impreza but my Subaru was bought cash

rossyboy

iTrader: (8)

A very good point. I voted classic with a loan and I'm not in the least bit embarresed about it, but there are others who would be more cagey.

There may well be an element of "mine is bigger than yours" to this one, though I am in no way referring to any previous posts.

[Davey]

HP is a mugs game.

rossyboy

iTrader: (8)

Maybe, but some people just aren't good at saving up for things

[Davey]

Simple solution; dont buy what you cant afford (Mortgages allowing though as property is a genuine investment)

HOWY

only if you have a dage of cash

I prefer the PCP route
£1000 deposit + 36 payments of £299 = £11764 for a new MY05 EU WRX
hopefully 3 years trouble free motoring no worries about repair bills. Seems like good value to me, why invest more into a lump of metal that depreciates the minute you drive it out of the garage youd be better investing the rest in stock market. As for buying an older car you never really no what the cost of repairs are going to be (been there done that)

homerjay

pcp is fine if you keep the car for the term, if you try to get out they rip ya bolx off and shove them up ya pooper...

rossyboy

iTrader: (8)

I hate to go all Non Scooby Related, but if everyone had that mentality, the economy of this country would be well and truly in the ****

zoney-WRX

my first scooby which was a MY02 was paid for in cash then after 8months i decided to get a new Sti amd traded the Wrx in so i own about 2/3 of my car lol

fieldy

1997 turbo 2000 wagon. paid cash in full. think i made the blokes day, that was selling it

[Davey]

For the short term, but in the long term borrowing ****s things up even more.. People live outside their means and sales go up, but there is a saturation point at which fewer and fewer people can afford to keep spending so sales go down, inturn prices go up and those who are now on the bread line a truely ****ed.. Most people in this situation who have property and are mortgaged to the hilt will try and sell up and down scale to re-coup some equity, then the market becomes saturated with houses, the prices fall, people loose even more money.

RLE

iTrader: (2)

Well structured Davey. Good point.

rossyboy

iTrader: (8)

Agreed, but thats the extreme situation. IMO there's nothing wrong with a car loan. What people need to avoid doing is changing their car too often and never having any "equity" in their cars. A situation I used to be in until recently.

[Davey]

It happens ever few decades so its not entirely "extreme", the hostorical mean average of house price's has been going up and down (with a massive difference in the peaks and troughs) ever since records began. Un-employment does play a big factor too but the recent drive for people to live at a higher standard than they can afford is going to cause one serious recession in the comming years. Personally I cant wait!

kingofturds

iTrader: (1)

All these snooty new age owners looking down on us classic owners when half of them are re mortgaged up to their eyeballs to pay for them id rather have my fully paid up chav mobile any day

homerjay

can you imagine if there was no such thing as lending money, say it was made illegal.

how the hell would the country/world work?

[Davey]

Lending money isnt the issue, un-necessary borrowing is the problem, its so easy to borrow money so more people do it without thinking about the consiquences, its only a recent thing to (last decade or so).. Low interest rates are to blame..

Borrowing 10, 20 even 30 grand for a car is just insane in my eyes!