Do you own your car outright?

[Rick101]

Can't see how to do a poll so thread will have to suffice.

Just wondering if you own your car outright?

Bought outright of now paid in full?

I've always bought cars in full and in cash with the exception of one, a 5K 406 HDI which I used for private hire taxi work.

[KardioKate]

Own it outright. Only cost £580 like

[HustleRussell]

I owned all my cars outright, the first couple were bought with money borrowed from dad but paid back within 3 months. Most of them have been cheap but my biggest purchase was the Caterham which dad paid £3k towards- I had saved money up, and was continuing to save, but the right car came up before I'd finished!

[sc0tt]

My last I did, I traded it in, got the cash back and the new one is one finance. Suits me.

[Roo]

Yes thanks.

[PurpleMoonlight]

Yes, and my bike.

[S2Mike]

Always bought all my cars outright.
Cant afford it cant have it.
Only borrowed for the house, thats paid off in 4 years, so out of debt to everyone!
I sleep well at night!

[RVVUNM]

Yep, all three of mine owned and payed for.

[Beeby]

I wouldn't have it any other way. There's been plenty of threads about the virtue or otherwise of finance. Personally, the thought of paying out £200 - £300 a month on finance coupled with savage depreciation isn't appealing. My cars are 9 and 13 years old and run fine. Both passed the last mot with no advisories so can't see the point of buying something more expensive and newer just to keep up with the masses.

[OscarIndia]

3 I own outright, 1 is on HP, but may be paying that out soon anyway.

[g3org3y]

Yes.

[trooperiziz]

2 yes, 1 no.

[wackojacko]

Yes.

[falkster]

All mine bought and paid for. I've don't like having money going out each month other than mortgages and other household bills.
I've never aspired to owning cars that cost me £25k+ as I don't like the idea of depreciation. Only pure luck that I have 2 cars that are worth a lot more than I paid for them and one well bought car.

[crofty1984]

Both boats, both cars and motorbike all owned outright. Admittedly that's a £450 bike, Free car, £700 car, £500 boat and £4,100 boat - So in total probably less than a 3yo hatchback.

[PurpleMoonlight]

Beeby said:

I wouldn't have it any other way. There's been plenty of threads about the virtue or otherwise of finance. Personally, the thought of paying out £200 - £300 a month on finance coupled with savage depreciation isn't appealing. My cars are 9 and 13 years old and run fine. Both passed the last mot with no advisories so can't see the point of buying something more expensive and newer just to keep up with the masses.

But you are going to suffer the same depreciation on a car regardless of whether it is purchased outright or on finance.

[Rick101]

Hmm, interesting.

Thread is not a dig at anyone either way whatever their choices. Just intersted in peoples attitues to car purchases.

I wonder if I asked on a non motoring forum what response I would get. I imaging many would by buying new, small 'cheap' cars on 'special' deal from the main dealer.

[LordHaveMurci]

Yes, both purchased outright. Haven't borrowed money to fund a personal car for over 15yrs.

[Changedmyname]

Car yes ,van no.

[scrwright]

3 jeeps, a golf & an mx all owned outright, all worth bugger all
I once "bought" a new car on HP, lesson learned on that deal after lossing £8k in 6 months.