Paid For!!

I like the idea of cars being on credit. Until recently the cost of taking money out of savings to fund a car was pretty much the cost of credit anyway, and if you could get very good credit on a trade deal, and had your savings working really well for you, it actually makes a bit more sense to use credit.

I think right now it's better to use savings/cash as credit costs have stayed pretty high, while interest on earnings is crap, so I went 50:50 this time, credit to just cover the depreciation.

I don't think I'd ever buy with cash straight out unless I was a millionaire :) Just seems so much more sensible to get it invested/leveraged on a BTL or something, and earning you a living, rather than tied up in a piece of depreciating metal!

I am a tight git though :D
 
Wondermike said:
rob davey said:
Lucy said:
I've never had anything on finance etc. but i can imagine it's a great feeling when it's paid off, congrats :thumbsup:
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You have a rich farther then? :rofl:
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Maybe a rich mother :sweetheart:

:worthless:
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:lol: :lol: :lol: :lol:
Oh my god your even wanting pictures of my Mum now :rofl:
To be honest, she doesn't look 42, here you go, just to shut you up ;)

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I prefer to buy my cars either through PCP or loans- 1) so i can change cars frequently and 2) I use my money to invest and i can make more money out of it than the interest I'm paying. so i suppose it all comes down to individuals. Why would I want to put 30k into something I know is going to go down in value when I can only pay 500-600/month. I invest my capital to make some money- definitely not keep them in savings as they are a waste of time. So by the end I have managed to pay off the car or change when i like and also my capital still exists. worked so far. dunno about future.
 
Perhaps we should have an investing sub forum so we can fund our next cars... i'm getting jot all interest and my porfolio is looking somewhat deflated :headbang:
 
Lucy, tell your mum she is a babe :D She doesn't look 42 at all, we can see where you get your good looks from. My daughter was 21 in January and has asked me why I didn't get her a Z4 for her birthday, I got her a Toyota Aygo, what more does she want ........ :rofl: It's got leather seats and aircon!!....... :driving: I took the cash out of my savings to buy my Z, but 2 weeks later I took out a small bank loan and used the cash for another project ( 2 wheeled) , so I am getting my money working on more things for me. I am hopeless at saving, but very good at paying stuff off, so my 3 year loan will get paid off after 18 months. I don't calculate the monthly depreciation of cars, I'd never buy one if I did. I just know that they are worth much less than I paid for them when I come to sell and don't worry about it.
 
No mortgages, no car payments for some years. But it wasn't always so. Several years ago I seemed to be always in the situation where the payoff on the trade-in had to considered when negotiating for a new car purchase. So, congratulations! I do remember the feeling of looking with some sense of pride when I entered the garage when I could say "I own this car".
 
Wondermike said:
Lucy said:
Oh my god your even wanting pictures of my Mum now :rofl:
To be honest, she doesn't look 42, here you go, just to shut you up ;)
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:thumbsup: :thumbsup:

Got any sisters?
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:lol:

Yes i have a younger sister, she's 19 :P
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*Awaits someone asking for a picture of my Dad... :rofl: *
 
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