How did/do You finance Your Car?

Omagh, Northern Ireland
August 18, 2008 8:38am CST
Some of us own our cars outright (Paid cash,or finance completed..) Others have ongoing hire purchase payments,or the newer lease "purchase" agreements,with a balloon payment at the end of the term,or you can trade in for another new Vehicle. Which category do you belong to? does it work for You? Would you like to try another option? Thanks for responses!
2 responses
20 Aug 08
I have my car on hire purchase as they call it and it will be finished(after 4 long years!) next April. My extra payment that month is only £50 more so at least I have no huge payment to make! Once I have paid it off though I am not planning to get another car on finance again!! I just plan to be able to afford to get repairs done on this when it needs it and then save a little bit so that come the point when I eally do need a new car I can get it without the finance!
1 person likes this
• Omagh, Northern Ireland
20 Aug 08
I paid for the last new car I bought on HP,too (haven't decided yet if it was the last new Car EVER I'm going to buy!)I kept it til it was over 10 years old,and then the engine went bang going up the motorway last year...now I got a used car that's doing ok,though it just had some engine work done..apart from the consumables and tax/insurance,it's only cost me about a Month's finance payment,and it sailed through it's MOT in December without even seeing a mechanic beforehand! You couldn't beat that
20 Aug 08
Definitely not! I just spend so much every month on the finance payment that onceI don't have that anymore I will have quite a bit spare every month and I look forward to that so much!!! lol x
• Omagh, Northern Ireland
3 Jan 10
The other option that's available to get a new car (currently) is under the various inCARnations (Sorry..couldn't resist!) of the Scrappage Schemes..My car (I Still have this used one..) wasn't eligible for the original version of the scheme that ran through the summer of 2009,but became eligible for the Updated one later on..and even though they tell Me my old Banger is worth £2000 off a New car,even a basic one with a finance price of around £6K after the discount ain't no Bargain to Me..I think I'll go for another pre-owned one once this machine quits..
@ersmommy1 (12600)
• United States
18 Aug 08
We didn't finance. We bought a nice used vehicle. My hubby didn't want a car payment. So we paid for it outright. Now that is one less bill we have to worry about.
1 person likes this
• Omagh, Northern Ireland
18 Aug 08
I got an older used car given to me as a Birthday present when the Engine blew on my last car!I've had it over a Year now,and apart from fuel,tax,and insurance,I've spent less on it than ONE monthly finance payment on a New car!