Car payment or paid off?

i pay mine off in like september of this year...

Cash money.

Paying on a car from 16 - 20 taught me responsibility and also taugh me that I don't like car notes.

So It's Cash nowadays.

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Originally Posted by Deke

Cash is king....i'm a banker trust me.

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I saw what you did. :lmfao:

Financed the first car i bought myself for 60 months to build credit. Recently paid the car off in a little less than 2 years.

when I bought my car i had all the money i needed for it, but I chose to put $14K down and keep 10, finance it for like 5 years so my payments are only $196 a month, I figured that way Id have enough money to put into aftermarket parts for the car, and my payments would be so low that if i ever got in a situation where my income wasnt much i would still be able to afford it.

i hate giving people my money, so i would rather pay cash, we just bought a house and at closing when that guy showed us how much we will have paid for the house after the 30 years i nearly fell backwards, it was twice, TWICE the amount of the house, but like previously mentioned here thats a house. A car? not worth it, thats why i teaching myself how to work on cars, so if my used one breaks down i can fix it, the most i would spend on a car would probably be buying a salvaged one that its not too hard and expensive to fix

paid off

paid cash.

60 months. :(

i have never had a car payment in my life.

i bought my first car in cash when i was 16 & have traded around since.

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Originally Posted by Atlblkz06

Even if I had the cash I would find the lowest interest rate loan and invest the money in something safe. I can make at least 6% with the cash and I'm only paying 5% interest.

So I make 1%+ interest on the money :)

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man speaks the truth.:goodjob:

Why would you NOT finance? At the super low rates you can get these days on new cars (some as low as 0.0%-0.9%), you could finance for 36 months and keep the money you would have spent in the bank making at least 2.5-3.5% interest. The last car I bought I financed for 60 months at 0.0% and used the interest I was making in my high interest checking acount to make the payment every month. I only had to pay somewhere around $120 out of pocket each month on a $35k vehicle. I plan on doing it again this year at least once and maybe on two cars if the economy picks up a little by the end of summer.

paid in full, didnt want to deal with the hassle

I've paid cash for all my cars since they are all hondas but when I buy again it will probably be financed unless I get another beater honda.

My car now was paid for in cash, but i'm about to pick up a newer tacoma which will be financed at an extremely low interest rate while I keep my cash in my high interest savings acct

titles in hand.

^That's how we roll.

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Originally Posted by allmotoronly

The last car I bought I financed for 60 months at 0.0% and used the interest I was making in my high interest checking acount to make the payment every month.

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Get outta here

Financed for several months then bam cash money. Hate making payments :tongue1: