How do you buy your cars?

[RachA]

Talking about cars - i'm just being nosy and wondered how everyone else pays for their cars.


We always pay cash for the whole amount. OH up until recently has always worked somewhere where he got paid travel expenses. We then use that money to buy our cars. Since we've been together we've had 3 cars: a VW Golf convertible, a VW Passat Estate and a Mazda 6 Estate. All three were paid for by cash.
The amount that it costs when you buy a car brand new on HP seems an awful lot to me lol

 

[dgirllamius]

I bought my first (well, second) car brand new on finance. I paid it off then traded it in for a used VW Golf. The rest remaining is on finance.

 

[Erised]

All of ours have been second hand, and bought in full with cash.

 

[suzib76]

Usually cash, over the years there has been one occasion we have taken out a bank loan for 5k to add to some money we already had, and my gran once gave us her old car to use as a second car, but the restof the time we have paid cash

 

[tina3747]

It's varied for us. The last 5 cars have all been new reg.

VW polo - HP
BMW convertible - HP
Audi a4 convertible HP
Beetle convertible- cash
Hyundai ix35 - cash

When I think of how much we've spent on cars over the years it horrifies me! We've had each one for 3 years each so I've essentially never had to MOT a car for about 16 years. The BMW and Audi used to cost nearly£600 per month each, that's just ridiculous.... Also they were in negative equity as 2 times we got rid of them a year early so had to pay around 2k to do so! The beetle and Hyundai we bought cash, even so they still depreciate so I don't think we're any better off having bought to own them!

 

[taylor197878]

my car is on hp with help from my dad he helps pay for the car its brand new so ill keep it for 3 years and hand it bk for something new again, means a dont have to mot the cars,

 

[Loui1001]

All of my cars have been bought with finance, as soon as they're paid off I think it is time for another one.....

 

[sue_88]

I've just bought myself a brand new Mazda, paid for in cash.

I don't agree with finance personally...........motto for myself as passed down by my parents is - if you can't afford it up front, can't by it.

 

[Lucasmum]

I paid cash but then it only cost me £350

 

[nicki01]

Always paid cash! I would never ever buy a brand new car as they loose value as soon as they are driven off the forecourt and I would get hp either! I like to have paid for something in full if I'm going use it and call it my own!
Only my personal opinion!

 

[babyfromgod]

I've just bought myself a brand new Mazda, paid for in cash.

I don't agree with finance personally...........motto for myself as passed down by my parents is - if you can't afford it up front, can't by it.

I think that is a great motto. My OH has the same views as you, whereas my parent's have always hp'd items. My partner is slowly getting me to understand why we don't have credit cards or hp's lol

 

[XcupcakeX]

Ive just got a brand new car but its on Daddy finance!

 

[mammy2oaklen]

Mines paid for by my grandmother and we pay her back if and when have the cash shes not bothered she has lots of spare money. We r very lucky before she bought our car wed had 2on finanve but wouldnt do again seems like such a waste of money, the other 2-3weve bought cash but were only 1000maximum in price. Borrowing off family is great interest free and no worries if u get a unexpected bill and cant pay one month

 

[smileyfaces]

I've just bought myself a brand new Mazda, paid for in cash.

I don't agree with finance personally...........motto for myself as passed down by my parents is - if you can't afford it up front, can't by it.

I disagree. Just because I dont have £10k to splash on a car doesnt mean that I can't buy it. Its much easier for people like me to spread the cost over a few years. If I tried to save up the money to buy it outright then it would take me just as many years as a finance deal So I may as well opt for 0% interest finance.

Back to the original question, my dad bought me a little old banger for my first car when I was 18 and then my second car, which I have now and have had for a few years was a finance car.

 

[topsy]

I voted credit card, to buy our last second hand car, but only cause we got tesco club card points, we had the cash in the bank to paid it off in full the end of the month we bought the car

xxxx

 

[Mizzy]

ive always had 2nd hand cars i think the most ive paid is £1050 so always cash

 

[Tasha]

We've only bought one car. Paid for by cash.

 

[Lauren25]

Our car at the minute we paid cash and my first car I paid cash for!
OH had 2 cars on finance before/when we met!

 

[RachA]

I've just bought myself a brand new Mazda, paid for in cash.

I don't agree with finance personally...........motto for myself as passed down by my parents is - if you can't afford it up front, can't by it.

I disagree. Just because I dont have £10k to splash on a car doesnt mean that I can't buy it. Its much easier for people like me to spread the cost over a few years. If I tried to save up the money to buy it outright then it would take me just as many years as a finance deal So I may as well opt for 0% interest finance.

Back to the original question, my dad bought me a little old banger for my first car when I was 18 and then my second car, which I have now and have had for a few years was a finance car.

See i agree with sue - if you don't have the money then i don't think you should buy something. We only every change cars when the car is going to cost too much to fix. So we bought our Mazda 1 year ago and the plan is that it's going to last us the next 5 plus years. During that time we will save up our money so that when we need to change the car we have the cash to pay for it. I like knowing that i own what we have in our house. Because of this we have rather naff second hand sofas that need replacing but we won't replace until we have the money. The only time we'd use finance is if we had the money in the bank and we could get the 0% but even then we'd seriously consider it.

 

[Pearls18]

DH took out a loan 5 years ago before we were married for what is now our family car, he is only finishing paying the loan off now this year but the car has lasted so I suppose that’s good but the interest is sickening! We will be paying in cash for our next car we will be buying this year, tax, petrol and insurance seems so expensive without the added expense of paying for the car itself every month, but I’ve never understood how car finance works- seems more expensive than getting a loan out but I’d be happy to be corrected I’d like to understand how it works. We would never buy a brand new car, even if money was of little object, although most car values depreciate buying from new is definitely the most expensive way of making the biggest ‘loss’, even if the car is only a year old it seems to make more sense than buying new. We will be spending about £5000-£6000 on the next car which should hopefully last us a good few years, our current car only cost £1700 nearly 6 years ago haha- definitely made the most out of that!