Paid For!!
- Thread starter sammyz
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Well done paying it off. Car payments are a nightmare with all the interest you end up paying. Best to put some money away each month in a seperate account and when it comes time to buy a new car use that cash as well as what you get for your old car and try and buy the new one outright.
I did that with my last car (my evo) and now with my Z4 Coupe that I just bought last week. Much more satisfying knowing that your car is all yours amnd you don't owe any cash on it - and you save money from not paying interest obviously - bonus!
I did that with my last car (my evo) and now with my Z4 Coupe that I just bought last week. Much more satisfying knowing that your car is all yours amnd you don't owe any cash on it - and you save money from not paying interest obviously - bonus!
Breaker said:Good feeling isn't it! I was fortunate enough to buy my Z4 without finance. It is a nice burden off your back every month if you can afford it, especially these days!!
You were very lucky/loaded. I never finish the existing loan before changing my car. I have been paying regular amount monthly from my earning on cars since 1994 (bit like contract hire). Everytime I change my car, I just get a new loan and pay off existing one.
Don't you think you will get a new Z4 this summer? I need to win the lottery tonight.
well done! I paid off my bank loan for my current Clio 197 early and was well pleased, its a great feeling.
I have to wait until the 3rd week of April to be able to buy my Z4 coupe as i want to pay cash, and the only other way would be to take out a loan and pay it off in 3 weeks and lots of interestnand settlement penalties which would just be stupid!
I have to wait until the 3rd week of April to be able to buy my Z4 coupe as i want to pay cash, and the only other way would be to take out a loan and pay it off in 3 weeks and lots of interestnand settlement penalties which would just be stupid!
Sunday morning, sun is shining and I'm off for a drive
I'm not gonna buy anything else this year, and will save some cash towards whatever eventually comes next. It won't be a new Z4 though, having read the review in Evo it's def more SLK than Boxster so I'll waiit and see if a Z2 comes along that's more driver focussed.
I'm not gonna buy anything else this year, and will save some cash towards whatever eventually comes next. It won't be a new Z4 though, having read the review in Evo it's def more SLK than Boxster so I'll waiit and see if a Z2 comes along that's more driver focussed.
ksher said:Breaker said:Good feeling isn't it! I was fortunate enough to buy my Z4 without finance. It is a nice burden off your back every month if you can afford it, especially these days!!
You were very lucky/loaded. I never finish the existing loan before changing my car. I have been paying regular amount monthly from my earning on cars since 1994 (bit like contract hire). Everytime I change my car, I just get a new loan and pay off existing one.
Don't you think you will get a new Z4 this summer? I need to win the lottery tonight.
Not loaded, just right time right place! I was the same as you up to a few years ago. :wink:
No, I won't be getting a new Z4 when it comes out! It's bound to be a nice car to look at and dive, but it has lost a bit of the sports car thing for me. More States-side cruiser now! More 6 Series!
I am very happy with my 3.0si at the moment. I may keep that for a few more years yet and then look at something else. I like the look of the new Nissan 370Z but I also like the new V8 M3 for something different! I used to buy my cars new, but not now! 1 or 2 year old cars now. New is just a waste of money! :wink:
I pretty much want to afford about £200 a month aside for car depreciation... but of course I like that to go down as the car gets older... makes it viable to get about a £10,000 car that will be worth ~ £5000 in three years, anything more than that is a bonus and gets added to the pot towards the next car.
However you pay depends on lots of factors, but this time I used more savings because they are doing little work right now, and basically got a loan to cover the expected depreciation curve (works quite nicely as in another 6 months I can effectively sell up and break even on the loan)
My problem is tinkering. Tinkering costs amount to another £100 a month no matter what... I should just buy better cars to start with but that makes things boring 
Dave
However you pay depends on lots of factors, but this time I used more savings because they are doing little work right now, and basically got a loan to cover the expected depreciation curve (works quite nicely as in another 6 months I can effectively sell up and break even on the loan)
My problem is tinkering. Tinkering costs amount to another £100 a month no matter what... I should just buy better cars to start with but that makes things boring
Dave
Yes, its a great feeling knowing that you own your pride and joy outright! Being credit free, absolute bliss!
What i also find equally as satisfying is that everything ive bought has been done by me scrimping and saving up really hard for. Never had to rely on anyone for money to buy nice things, with the exception of taking out the odd bank loan, and as as said the unavoidable mortgage, oh and Santa when i was a kid :lol: But ever since my early teens i learned to stand on my own two feet financially, from having Saturday jobs and paper rounds. And doing the chores at home for 50p a week :lol: I bought my own bikes, stereos, tvs, computers, clothes etc... purely from the money i earnt from these jobs. A nice feeling that, can sit back a say yeah i bought all those things from working and saving hard
I have a small amount of finance on this car, as it was slightly more than a budgeted for. But all being well it will paid off early next year
What i also find equally as satisfying is that everything ive bought has been done by me scrimping and saving up really hard for. Never had to rely on anyone for money to buy nice things, with the exception of taking out the odd bank loan, and as as said the unavoidable mortgage, oh and Santa when i was a kid :lol: But ever since my early teens i learned to stand on my own two feet financially, from having Saturday jobs and paper rounds. And doing the chores at home for 50p a week :lol: I bought my own bikes, stereos, tvs, computers, clothes etc... purely from the money i earnt from these jobs. A nice feeling that, can sit back a say yeah i bought all those things from working and saving hard
I have a small amount of finance on this car, as it was slightly more than a budgeted for. But all being well it will paid off early next year