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How did you pay for your car?

How did you pay for your car?

  • Cash

    Votes: 106 67.5%
  • Car Loan

    Votes: 30 19.1%
  • Leased

    Votes: 6 3.8%
  • Home Equity Loan

    Votes: 8 5.1%
  • Gift

    Votes: 2 1.3%
  • Other

    Votes: 5 3.2%

  • Total voters
    157
I had a really good year in the stock market before I got mine so I decided to treat myself.....needless to say I paid cash.
 
Originally leased it, than didn't see anything else that I liked, knew how well it was taken care of, so I bought it off lease, for cash. Leasing is the cheapest way to drive a "new car" every few years, but the most expensive way to "own" a car. If you borrow money for a depreciating asset, it had better be a low interest loan. How many people borrow money to buy a car and are upside down on the loan from the start and don't catch up ever? The subrogated (sp) lease deals are the best. Always good when you're being subsidized!
 
Cash from dancing. All one's.
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Cash-

The NSX is a different kind of car purchase, definitely (for me) a luxury, as mine is becoming more of a project car than a driver. I figure something like that should be something you can pay for out of pocket, not something that increases your overhead and exposure for 4-5 years on a loan.

I know it's not easy to wait for something that way, but I felt better about it personally saving and paying cash.

Getting to be a habit, though, and looking at a new daily driver the same way. In today's economic climate, I sleep better at night that way. :rolleyes:

Then, too, I have more money left to spend on upgrade projects as I go along. :biggrin:
 
Personal loan. Was going to get BMW Z3 but slightly under budget. Went for a secondhand NSX instead with small upgrade (springs, exhaust and wheels).
 
Used one of my many business credit lines and paid it back over about 18 months.

Don't know if that considered an auto loan or other so I didn't participate in the poll.
 
cash.... at 20 paid for by myself with money made by buying/building/selling cars throughout the previous four years
 
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