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  1. #21
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    We are very lucky not to have a car loan as well. It's one of my pet hates, that kind of interest is wasted money. We only have one car and dh has a motorbike. I think he bought his for 5k and our car was 38k but that was pre baby when I was working and it was a huge dent in our savings. Pretty sure we will run this car into the ground as there is no chance for an upgrade in any near or distant future. But I love our car, it is safe, economical and a 4wd so it doubles as our holidays.

  2. #22
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    i have never had a car loan. neither has my partner. we feel a bit scared of even getting a mortgage net year as we hate debt.

    between u we have a 2008 commodore, 1997 jeep wrangler, 1988 ford laser, 2011honda cb125e, 2012 hondacb125e.

    soon i am getting a new motorbike and i will pay cash upfront.

  3. #23
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    Quote Originally Posted by DailyDiversion View Post
    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.
    We have a loan on a 75k vehicle. It's not a status symbol for us, it's a necessity. This was literally the only vehicle on the market that ticked all our boxes. In the past I have never even had a new car so this a was a big scary jump. And expensive it $1200 a fortnight.

  4. #24
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    I wish I had enough money to have an expensive car as a status symbol ... I'm sure I'd clean it more regularly and perhaps even give it a name

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  6. #25
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    I'm very ignorant when it comes to cars but what kind of cars cost 75k+?

  7. #26
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    Quote Originally Posted by sydney1980 View Post
    I'm very ignorant when it comes to cars but what kind of cars cost 75k+?
    Toyota land cruisers, prados some top line holders like the hsv, top line fords, some audis

    And the obvious ones like Porsche, Lamborghini
    Last edited by grooviechic35; 06-05-2014 at 07:16.

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  9. #27
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    Quote Originally Posted by sydney1980 View Post
    I'm very ignorant when it comes to cars but what kind of cars cost 75k+?
    Mercedes, bmw's, some VW's. There is quite a lot actually.

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  11. #28
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    To answer the OP, we have a small loan (12k) that we brought a late model car with a couple of months ago. Before that we had no car loan but 2 crappy cars. Now we have a fantastic late model car which is a lot safer and more comfortable for our kids and DH has a motorbike he rides to and from work. Our repayments are around $350 a month but we pay around $700 -$900 a month. We made sure we got a loan that can be paid out early without penalty.

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  12. #29
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    Yeh, I would never spend over 30k on a car. Cars depreciate and are not a good investment in that regard. That's also why I never buy a brand new car.

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  14. #30
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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.
    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).


 

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