Can someone explain car finance to me???

[davocol]

Sinking cash into a depreciating asset which you can lend at 7% if you look hard enough is far from wise. Imagine of instead of buying that 20K car you have in your driveway you had of invested that money into a share that has a better return than 7% p.a (which is not hard).

Other people also like to have a reliable car that does not spend half its life in the mechanic costing $600+ every time it has a service.

Originally Posted by Mr Hardware

Good post Mr BA2003, well said. Unbaised, real world experience that's not out of the ordinary.

I feel sorry for anyone who can't see that cars on finance just aren't worth it. I can see the allure - "i get the toys today and future me can worry about how to pay for it! wheeeee!"

i just simply regard that as a short-sighted, childlike view. Yes I understand some people are in situations in life where their only option is a loan, but the vast majority of people i see who get a loan for a car fall into the category of 'so full of their own self-importance that they can't drive a banger'.