I was talking to a girlfriend today and she was saying she wants to buy a new car and getting a huge loan for it. . Was aboit $50000 car over 7 yrs she thinks she would onky pay about $380 fort night.
Got me thinking how many people out there have massive car loans like this?
I thought ours (personal loan) was huge at $20,000
So if you want to share.. do u have a huge one? Just curious when I see so many beautiful cars on the road.. wish I could afford them really!
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05-05-2014 17:38 #1Senior Member
- Join Date
- Jul 2010
Car finance. Do u have it?
05-05-2014 17:42 #2
We do. Can't wait for the damn thing to be paid off. We have it because we need a 4wd where we live and wanted a new dual cab we could keep for a long time. Our loan is about $45k I think over 5 years. Repayments are $820/month.
05-05-2014 17:50 #3
We currently have one which is $130 fn we owe $6000 still, have had it for 2 years this week we are paying it out & trading it for a 7 seater which repayments will be around $150/$160.
So ours are very low and basic cars
Dp used to have one that cost about $1000 a month :0
05-05-2014 17:53 #4Senior Member
- Join Date
- Nov 2011
Ours started at $30k over 5 yrs and costs $350 a fn
05-05-2014 18:00 #5
My last car cost $27k and I financed $17k of it. Repayments were about $80 a week over 7 years.
I ended up paying it off after a few years though.
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05-05-2014 18:19 #6
We have a car loan for the first time in many many years, only because we have a small mortgage otherwise we wouldn't have got the car loan. Ours is over 5 years though and I sold my previous car and paid that money on the car loan therefore reducing it down a fair bit soon after. We have managed to save and pay cash for our new vehicles and assetts previously, this is the only debt apart from the mortgage so it's manageable.
Last edited by Blessedwith3boys; 05-05-2014 at 18:25.
05-05-2014 18:30 #7
No I have never had a car loan and I've never really understood cars as status symbols.
Apart from having a safe and practical means of transport the type of vehicle is absolutely meaningless to me. I couldn't even tell you what make our family car is (I know it's white) I honestly have never been remotely interested in cars.
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05-05-2014 18:32 #8Junior Member
- Join Date
- Apr 2014
I have a 21k loan on my car, over 5 years -= $205pf.
05-05-2014 18:41 #9
We were planning on saving about $10k this year, selling / trading hubby's car early next year and getting a loan for the balance, which would have been about $10k. However he had an accident a week and a half ago and it seemed pointless to get a cheap car that won't fit our family for long, so the loan is starting off at $27,000 :-I with monthly repayments of $560 over 5 years.
05-05-2014 18:46 #10
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