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.
+ Reply to Thread
Results 31 to 40 of 106
06-05-2014 07:45 #31
06-05-2014 08:12 #32
06-05-2014 08:16 #33
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.
06-05-2014 09:18 #34
06-05-2014 09:27 #35
06-05-2014 09:35 #36
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.
06-05-2014 09:36 #37
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
The Following User Says Thank You to peanutmonkey For This Useful Post:
06-05-2014 09:53 #38Senior Member
- Join Date
- Mar 2008
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.
06-05-2014 10:13 #39
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.
06-05-2014 10:18 #40
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)
LCF Fun Languages AustraliaFrench, Spanish, Mandarin, Italian & German lessons for children 0-12 years. Play-based and immersion language ...
LATESTWhy it is OK for your child to be differentWhat is a blessing way? How is it different to a baby shower?7 ways to break the ‘mumnotony’ at home
POPULARWhen can I start giving chores to my children?New baby nursery checklist – a guide to newborn essentialsWhat to pack for labour and hospital – a checklist
FORUMS - chatting now ...
Inheritance WWYDGeneral Chat
A - Z of baby girl namesGames & fun stuff
A - Z of Baby Boy NamesGames & fun stuff
IVF babies due June/July/August 2017pregnancy and babies through IVF
Pokemon go. Chat #2General Chat
Egg Donation in South Africa #14Egg Donation
The Word Association Game #24Games & fun stuff
HGC lelvelsConception & Fertility General Chat