How do people pay for their car?

[vanman_75]

Originally Posted by MITCHAY

I bought my car with cash. I will avoid a loan at all costs and I doubt I will ever by a new vehicle, even though I could.

and a good idea maybe for you, but someone has to .or wee would get driven back onto horses .no new cars =no jobs =no such thing as cars .back on topic finance is ok just be smart with your loan choice no probs

[Mr Hardware]

vanman, fleets exist for the entire purpose of being able to buy cheap near new cars!!

[IDT]

Originally Posted by Mr Hardware

Correct 500SEC. A 'good credit rating' is about as real as drop bears and the tooth fairy.

WAForce8 and gcg2503, why? There's so many people on this board with E-series cars! No-one needs to take out a loan for one of them!

If it was a poll was about E series then yeah I would find that believable. But there are a lot of guys on this forum who don't. I for one. But its just an opinion.

[Mr Hardware]

WAForce8, i'm trying to display to you that the Pub captures a broad cross-section of this forum which includes many, many members who own inexpensive cars. I don't see any reason to why you should doubt the accuracy of this poll. Anyone's actions of having what the finance industry calls 'bad debt' (debt on a depreciating asset) is a representation of themselves, whilst this poll is a representation of this forum's members. Please don't cloud your expectations of others simply by your own choices.

[vanman_75]

Originally Posted by Mr Hardware

vanman, fleets exist for the entire purpose of being able to buy cheap near new cars!!

yes and not everyone wants a trashed secondhand white base model with a half arsed service record .this thread is about how people pay for their cars not justifying why you want a new 1 with the bells and whistles ,with the v8.

[GT0132]

$20 grand home loan redraw, the rest cash/trade in

[GTP-814]

finance only, who has cash these days.

I use others money

[BADan]

Will always pay cash for my cars (well bank cheque which is my money anyway). Don't particularly want to get into debt for one.

[73 coupe]

my 1st car , back in 87 was a 64mini cooper S . think i paid a lil over 2k for it on m8's rates . sold it bout 5yrs ago and got 13,500 back , since then i've bartered , bought & sold an array of various vehicles alway's with the gr8 prize in mind ! a 73 XA fairmont coupe. which by the way i've had for precisely 6days , 23hrs , 12min's & 33 ,,, 34 sec's ,,, lol

[xbgs351]

Bank cheque.

[djst]

If i can not pay for it with cash,then i go without.

[Mr Brooksy]

I had 5 cars on lease, and it was so frustrating watching all that money disappear (like rent) and once I decided to end leasing, I had no car to show for it, and no real money saved to buy a replacement. Then I tried "family loans", its ok for small $$$ but $10k isnt something that my family had laying around surplus. Once I borrowed that money I watched them suffer when finances got tough. WONT be doing that again!

I've come to the realisation (like djst) that if I dont have the money it doesnt kill me to wait til I do (and if I need a car or anything else ASAP, buy cheap as possible and save for the 'dream').

I will never buy new again, its deader than dead money. There are thousands of great quality almost new cars out there just waiting to give me a good deal.

Oh and that credit crap that people get served up by banks/or new car dealers, there is some truth in it all. I couldnt get a mortgage through NAB because we didnt take out a loan to buy our 2 cars. If we had taken a loan they would have given us what we asked for. But on the otherhand, its only there so those who are selling can sell, and those who are buying can have what they want without waiting.

Each to their own.

[ebxr8240]

The thing is, there's no point in going for champagne car on a beer income..

I have a work supplied vehicle. Yes its white and gets serviced every 10,000
every 20,000 the wheels come off wheel bearings etc are checked along with brake, steering etc

[Fairlane]

Paid cash for every car ive owned. And in some cases actual cash to, bank cheques are a pain.

I could never justify a loan for a car, ever. A lease yeah, but not a loan. Not when you can have a reliable daily driver for like 3 grand these days. Hell you can have a realiable V8 for 3.5g these days.

Cash sucks in that I cant have that XR6 Turbo id like, but it means ill have a car that i can afford. Hence my LPG BA.

[Mr Hardware]

I couldnt get a mortgage through NAB because we didnt take out a loan to buy our 2 cars. If we had taken a loan they would have given us what we asked for.

BS. Get this. I got a home loan last year for $300k, single income, i was in a temp position at work and i was only on 50k a year then. I had 20 or so banks competing for my business, never had a loan before in my life.

Go to a mortgage broker. They're free and they'll do a darn sight better than you can do on your own.

[ebxr8240]

It won't be that easy now.. Esp without some deposit..

[robjh80]

Originally Posted by ebxr8240

It won't be that easy now.. Esp without some deposit..

I was reading an article in the paper the other day exactly on this subject.

It was basically saying that obtaining a home loan from any bank will be a lot more difficult from now on since the credit crisis.... particularly for first home buyers.

Anyone visiting a bank for finance will need to have a substantial deposit, steady employment and a first class credit rating .... or don't even bother trying!

Apparantly the banks are going to be a lot more "selective" as to who they lend money to in the future.

[Rev28K]

XL to XM - cash
XR to XY GT – I give them half my house
GTHO PH 1 or 2 – I would have to give them 2 houses.
GTHO PH 3 – all of the above x 3 plus one of my kidneys and a picture of an 8 legged spider
XA to EL GT (including AU 5.6 strokers) – loan
XD to XF – cash
EA to AU (other than GT’s) – cash (you pay me to take it off your hands, no cheques)
BA to BF – cash
FG (everything from the Turbo/V8 up) – novated lease

[davez104]

Current daily driver is a novated lease. When it's salary sacrificed, you're on the highest income tax rate and do 40-45,000kms a year, I think it makes a lot of sense. Have used finance plenty for previous cars, just watch the rates and how the loan is going. If you're not happy, change it.


vanman, you have too many cars :

Dave.