I don't have my car for a status symbol. Safety is important for me too. I choose a very safe make of car that is very reliable. I would not buy a car that didn't have 5 star ancap rating. Whilst I don't buy brand new cars, I don't want one that's over 8 years old.
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05-05-2014 18:52 #11
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05-05-2014 19:07 #12
Our car loan is 55k.
Brand new and tax deductible as hubby is a plumber. Its about $220pw :/
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05-05-2014 19:11 #13
Ours is salary packaged and the car itself was $32 000. I won't list how much we pay per week because there is a pre and post tax component and includes all the stuff packaged. We will have paid it off after 3 years
It's our only real debt.
05-05-2014 19:11 #14
We don't do car loans either. Dh insists on paying for it with cash. He used to have an expensive car (30K) but now we have a 2007 oddessey and an 2011 I30
I'm with BRV- cars need to be safe and affordable.
wifey of hubby who is always away. mother of two girls who are always amusing.
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05-05-2014 19:41 #15
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05-05-2014 22:19 #16
I have never had a car loan. My current car I bought new and paid cash for in 2009. Dh has a company car.
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05-05-2014 22:41 #17
Original loan for $92,000 over 5 years.
Repayment about $470 a week.
Coming up on 3 years and there is about $7k to go.
We don't have a mortgage, earn decent incomes between us and have no other real commitments (eg no credit cards) so the size of the loan wasn't a factor to us and was easily approved in just hubbys name.
Last edited by nirok; 05-05-2014 at 22:44.
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05-05-2014 22:49 #18
Ours was 30,000 over 5yrs.
We are up to 3yrs, with 2 to go (about $13,000). Our repayments are $350 fortnight ($700 a month). We also have a mortgage and another car loan.
05-05-2014 22:52 #19
I got a new car last year for $55000, repayments were $250 a week over 5 years. I have just recently paid the loan out in full though as I thought it was a waste to be paying all that interest when I had the money there to cover the loan.
06-05-2014 02:05 #20Senior Member
- Join Date
- Oct 2010
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.
Last edited by Juzz; 06-05-2014 at 02:08.
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