Just wondering how many people have finance still oustanding?

Paid off the wife's Fabia in Dec and my Octavia will be paid for in a couple of months of serious saving (buying new house so that will be a spare

Annoyingly I still have a bit of finance outstanding, I was going to use some of my weekend-pay for all the weekends I've been working to pay the remainder off, but due to annoying bad luck & the follow-up additional tweaks done to the car, this has not happened so far :(

I've got to give them a buzz though, find out how much is outstanding (I'm paying 120 quid/month IIRC, rest was paid for on debit card and that loan has been paid up already), I might decide to drop this onto a credit card instead and pay it off a LOT quicker instead, getting the flexibility of how much to overpay each month and getting shot of the finance arrangement

I have never had finance only personal loans as the APR seemed to be always high on Finance.

Took out a loan for my MR2 originally, sold it 2 years later and used the money for the vRS. So i still see it as money owed towards my car. Only 2 and a bit years to go now.

I have always had loans for all my prior cars and settled the outstanding when i sold the car. So you could say the car is never owned by me, as its always paid for by a loan, but i see it as i get to drive newer motors this way.

This will be the last loan hopefully for a while as i have to buy a house sometime this year.

I paid off my Mk1 18 months early , then temptation got too much and I bought Mk2

mine is all paid for........

.......with ill gotten gains

I finish paying for the Felicia I wrote off in 2004 at the end of this month!!!! I'd love to be able to say I was TPFT only, but I wasn't and I just squandered the payout :(

I finish paying the return fee for my Fabia vRS in March this year - so 3 payments remaining. Not long to go on that!

I have about £8800 outstanding on the Focus. It is a 3%APR loan from my employer which I took out to buy the Corsa (which I straight-swapped for the Focus). I reckon the Focus is worth around £7k, so I'm about £1500 in negative equity with that. However, the interest rate is so low, and it comes out of my wages, so I'm not overly concerned to be honest.

If I buy another car it will be a £3k personal loan on top of the existing loan, but for a £10k car that will balance the whole debt-equity thing. As credit cards etc are paid off this year (am currently snowballing them down with overpayments) that will leave available income to overpay the car loan(s) i.e. save to pay them off in lump sum).

Either way, I will be debt free in 25 months if I keep the Focus, or 30 months if I went for a £3k loan. So in 30 months time I'll have no debt and a car worth £3,500 if I keep the Focus, or possibly as much as £7k if I went for the Beemer.

Pinky is............So is the vRS..

I finish paying for the Felicia I wrote off in 2004 at the end of this month!!!! I'd love to be able to say I was TPFT only, but I wasn't and I just squandered the payout :(

I finish paying the return fee for my Fabia vRS in March this year - so 3 payments remaining. Not long to go on that!

I have about

Yep, but only cause I always buy second hand.

I took out a

My isnt but ive got a loan not finance.

My dad was able to get a Northern Rock loan at about 5% so i just have a standing order to pay into his account as soon as i get payed job done and its only £140 a month so i dont miss it

Both paid for in readies, at the expense of paying the mortgage off instead :(

My original loan for my MR2 was for £11,000 and @ £213.04 a month @ 5.6% APR, and not being a home owner, i thought was brilliant deal. (Co-operative Bank Loan)

I love to be debt free, but if i want newer motors all my life then it looks like this is the way for me. Im that use to paying out for my loans now and in the past i dont miss the money at all.

Never like paying interest on something that depreciates, as such, all my cars are paid for in full!

Never like paying interest on something that depreciates, as such, all my cars are paid for in full!

Saying that though. If you buy a second hand car and get a good rate on a loan then the money you owe for half the term on the loan is balanced with the depreciation of the car, so you are never in negative equity, then after that term your quids in on the loan to the value of the car.

Wish i could afford to pay for my cars in full, but borrowing is the only way for me.

Havent got a clue were i would have got

Never like paying interest on something that depreciates, as such, all my cars are paid for in full!

Same with me - always pay in cash.

Yup all paid for

Nothing worse than paying interest on something that depreciates, I'd hate to be in a situation where the outstanding loan is worth more than the car.

Once the car is paid for the best bet is to hang onto it for a long as possible resulting in you actually saving some money. I've had my vrs for 3 years now and although I don't want to sell it, I'm faced with a situation where my family are out growing the car. Nothing, I mean nothing changes your life like a baby....

So I have to sell my car then buy a car for the same amount of cash I get for the Vrs. If anyone knows someone who wants to buy a 39k vrs with extras for approx 7.5k then that'll be cool.

Des

My car was paid for by myself...

Its the mods that add up....!!!

Mine's financed by a personal loan, which is in turn financed partly by my car allowance and partly by the SWMBO's.

The A4, though is on a personal lease, again financed by both our car allowances.

I paid for my car outright, it was quite strange seeing that amount of money leaving my bank account all in one go :eek:

Paid for, every last nut and bolt. I don't think I've ever had finance for a car. I've had a few domestic appliances on finance, but only if it was available interest free, which it often is.

If you want to know how to manage money go over to moneysavingexpert.com - you will learn how to balance loans with savings so that you aren't just paying finance companies for the privilege of looking after your money. Paying someone else interest on a loan is hitting you twice, by the amount of the interest you pay, plus the interest you could be earning on the cash if you held onto it.

got a personal loan to buy my Fabia VRS , with the benefit of hindsight i would of got the loan over just 3 years instead of 5 , i've still got 32 months payments to go

got a personal loan to buy my Fabia VRS , with the benefit of hindsight i would of got the loan over just 3 years instead of 5 , i've still got 32 months payments to go

I've got my Octavia vRS on finance for 5 years. What I'm doing is paying the payments each month but also saving some on the side to pay the remaining balance off after 3 years.

Yes!

Well sort of - the car was paid for out of the equity we had in the house in Leeds, before we moved over here. So it's paid for, but we have a proportionally higher mortgage on the house here!

Bought the car and put

My loan I got to buy Mk2 after my accident completes in February.