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  1. #31
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    We have a personal loan of about $20,000 that was used to help finance our 2 cars, which are worth more than 3 times that, so we're doing ok. We only pay like $30 a week towards it.

  2. #32
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    Quote Originally Posted by IvyRain View Post
    This is us too safety is priority for us and we do at least 40,000kms per year, sometimes more, so we turn our cars over regularly too. We'd rather have a new safe car than be driving around a bucket of bolts that breaks down all the time (not saying anyone here does that, just that's what we started off with when we had our Ps).
    Can I ask to rotate your car do u have to have loan paid off? Or just trade in. We have VW amarok. I find it too small for us lol even with two kids :O I want a landcruiser.

    Sent from my GT-I9195T using The Bub Hub mobile app

  3. #33
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    I borrowed 18K a little over two years ago to buy a brand new car (my first ever, I've always owned fairly old cars). I traded in my old Corolla which had become really old and I could no longer stand having a car that was unreliable. At the time I commuted a 120km round trip to work 5 days a week, so a reliable vehicle was a necessity.

    I have no regrets borrowing the money. My loan is low interest, the repayments are affordable and once I pay off the car I intend to keep it for a number of years.

  4. #34
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    Quote Originally Posted by monnie24 View Post
    Can I ask to rotate your car do u have to have loan paid off? Or just trade in. We have VW amarok. I find it too small for us lol even with two kids :O I want a landcruiser.

    Sent from my GT-I9195T using The Bub Hub mobile app
    It depends - we're really only on our second car in this "scheme" but will be looking to trade soon. Our first car we ended up selling privately because we could get more for it - then we used that money to pay it's loan off and the extra leftover was put towards our current car thus reducing the amount we had to finance. We might do the same this time if the trade in offer is crap (which they often are!). It's more work than just reading in, but the extra money is worth it imo

  5. #35
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    Quote Originally Posted by Juzz View Post
    We constantly have a car loan - it's just how we roll lol! We turn our cars over every 3-5 years - like others, it's not about a 'status symbol', it is about having the latest safety technology ( ie my six month old car has reverse camra's, blind spot warnings, an auto brake sensing/anto collision tecnology and more airbags than i can count!) and ensuring that I have full confidence in my car's reliability and performance etc. We do reasonably high km's, which is another reason we tend to turn them over. We make decisions to have finance based on our disposable income and feel very comfortable with these levels. There have also been some great finance deals over the last 18 or so month (I think Toyota currently have a 1% finance deal) so it's not always the 'waste of money' that a lot of people automatically assume.
    Agree. A new car isn't about a symbol status for us either. We prefer to buy brand new cars as at least you know what you are getting, it's also important because of where we live and how we use the vehicle, we go camping, tow the camper, the boat, do serious 4 wheel driving etc so dh bought his land cruiser brand new and personalised it to our needs, regardless that it cost nearly $100,000 after he had finished it will last us many many years just as our last Toyota did. Safety is also important. We purchased my car under finance, it's a roomy 7 seater and again has all the safety aspects, having plenty of room for 3 children is also very important. The car loan is a large loan but we don't have a big mortgage, it's affordable and I reduced the loan when selling my previous vehicle and when our other property sells we will pay the loan out. We have brand new vehicles so they will last. Never know what your going to get buying second hand and not a chance I'm willing to take when I often drive long distances on my own, rather know my car rather than have the fear a second hand one could break down or something go wrong. We also drive as a family 2,700kms to the city and back a few times of year hence we need the reliability of a good car.

  6. #36
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    We have a $30000 car loan. It was for a new hyundai ix35. Repayments are ~$600 a month.
    We needed a new car, we didn't need a brand new one but I don't think the repayments aren't affordable, we got good finance and we plan to keep this car for a good while.

  7. #37
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    Just as an aside, brand new cars can have faults and break down just as much as second hand cars. Ive only ever brought one brand new car and it blew a coil when I'd done 10,000 kms. Of course there are some crappy second hand cars (I just had one for 3.5 years!) But if you get someone to check it over (most mechanics offer checks on used vehicles for a small fee) and so long as the car has been serviced to the log book, you shouldnt have many issues unless your getting into cars that have dones hundreds of thousands of kms.

    Sent from my GT-I9505 using The Bub Hub mobile app

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  9. #38
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    I love our old car (18 years old haha!). It was $7000 3 years ago and we have spent about $500 in repairs in that time.

    There is no way we could service a car loan at this stage of our lives and tbh we are just as happy this way. I now look back on our more expensive vehicles as a massive waste of money actually.

  10. #39
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    We have always had second hand cars. Hubby is very mechanical so would hate forking out all that money for services when he can do just as good a job. Our most recent purchase (more of a family car) is a five year old Toyota Aurion Prodigy. It's a dream & I saved for over a year for it. I did briefly consider getting a loan to upgrade our car but when I'm paying for rego, fuel & insurance as well it all adds up for us to another unnecessary bill, patience is a virtue, sometimes required on a lower income.

  11. #40
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    I bought my near new car 3 years ago for $36k including the loan insurance. I think I have 2 years & $10k to go @ $180/week.

    ETA - I've always had a car loan. But I pay off enough to be able to pay it out when I sell it then start a new one (the times I've sold I went without a car for a while in between because of travelling etc)


 

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