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justinspiderholden
02-11-11, 04:09 PM
Do you own your car, or have you got it ticked up

jOhn-e
02-11-11, 04:11 PM
Mine :)

JDM-20L
02-11-11, 04:18 PM
Mine! :)

If I don't got the disposable funds I don't mod... its that simple.

fuzzy2308
02-11-11, 04:26 PM
all mine

anth
02-11-11, 04:40 PM
Both cars 100% mine. Nothing wrong with getting a car loan if you know how to manage it, I had a loan for my S15, taught me how to manage my money, paid it off quickly. I would never borrow money for mods though, but everyone's different.

TyD
02-11-11, 04:42 PM
Bought my first car out of my pocket.

Second one I got a loan, but I got it so I could pay back as much as I wanted when I wanted, so as soon as I sold my rmz250 I was able to pay it off.

Paul.S
02-11-11, 04:44 PM
Yeah paid cash with all my cars.

IMO, stupid to pay interest on a depreciating asset as well as modifying it, however i can understand how novated leases/salary sacrifices can benefit the higher income earners.

Pity I'm not the former.

Aleks.B
02-11-11, 05:00 PM
owned by the mafia

(Locky)
02-11-11, 05:33 PM
14 was loaned, paying it off, sold my 13 and had it all but paid, shit went down lost job, then both my cars broke. So was back to square one..... Modded whilst paid it off... But never got loan/credit card for mods. that was all cash

Started smashing it again got it down to couple of grand..... the it got rolled into a much bigger loan. But that will apreiciate :lol:

dave2221
02-11-11, 05:38 PM
You shouldnt be modding a car on finance (personal opinion)

A set of rims really doesnt count for that, but where your pumping more than a grand or so into the car, it would seem if you have to borrow to buy the car in the first place, then a modified car really isnt for you.

2GU UP
02-11-11, 05:38 PM
Own every car I've got out right.
The way I see it if I can't buy it cash, I cant afford it.

Sm1l3y
02-11-11, 05:42 PM
Reading that title gave me the biggest head fuck.

brasher
02-11-11, 05:45 PM
straight cash son, if you don't have the cashish, you gonna be the banks bitch.

dopey
02-11-11, 06:02 PM
Neither really.

Salary sacrificed, fully maintained lease for my Passat. Tax cuts = winning.

Wife owns the Golf.

OLik
02-11-11, 06:18 PM
had a loan, will never do that again.

TONTON
02-11-11, 06:42 PM
cash money on everything

Mr 0uch
02-11-11, 06:53 PM
Ive owned all 3 of my cars, worked my butt off for my first car while at school! I also agree with loans for mods, if you cant afford it then leave it at that.

pbk1776
02-11-11, 06:55 PM
Neither really.

Salary sacrificed, fully maintained lease for my Passat. Tax cuts = winning.

Wife owns the Golf.

same here cars is under business lease for tax benefits

jaayy
02-11-11, 07:03 PM
My cars and bikes were all cash out of my pocket. Worked two jobs just so i would never have to owe anything to anyone.

Mr_cube
02-11-11, 07:19 PM
Yer i got a 2nd job so i could buy my bike without having to sacrafice any of my normal income.

st162er
02-11-11, 07:27 PM
family car is on a loan but my car is straight from my savings from 10th grade lolol

SSR
02-11-11, 07:34 PM
Own every car I've got out right.
The way I see it if I can't buy it cash, I cant afford it.

x2

wernz
02-11-11, 07:52 PM
Cash money!


Are these topics all because of eunos build thread?

estblshd
02-11-11, 11:39 PM
car is straight cash. all mods straight cash. future cars straight cash because of...


straight cash son, if you don't have the cashish, you gonna be the banks bitch.

this




IMO, stupid to pay interest on a depreciating asset as well as modifying it

and this

hawkeye
03-11-11, 08:42 AM
Mine, cash money.
Don't even have a credit card, if you can't afford it you can't have it

best guy
03-11-11, 09:01 AM
99 problems but a loan ain't one

probably why my shit sucks

cash rules everything around me

FD7
03-11-11, 09:05 AM
Sif get a loan for a car... FFFF that lol

Course_Out
03-11-11, 09:09 AM
Company car, so not really mine, and the Silvia was paid for in cash.

I've had car loans and leases before, I don't think I would do it again now that I have a mortgage, easier and cheaper just to plow all spare money into the house and redraw against it if the need for another car arises. Woudl onyl do that if I was in a position where I needed to buy a daily for me or the missus. There is no way I would track a car I owed money on, the thought of stuffing the Silvia into something and writing it off and still having to pay the loan for a car I can't use/no longer have freaks me out

joeyybruh
03-11-11, 09:38 AM
family cars = loans . can keep for life . its your family .

personal car = save the money , piece of mind and well being that its all yours , not the banks . YOURS .

markie
03-11-11, 09:45 AM
Cash money. Had 3 cars plus mods all came from my pocket. No loan No credit card.
LOAN $$ for a car&mods = BANKS car&mods. NOT yours.

Prancer
03-11-11, 09:50 AM
loan for my nissan, toyotas and suzuki all cash

JDM-20L
03-11-11, 09:54 AM
Cash money, hoes!


Are these topics all because of eunos build thread?

One would have to imagine so?

Oxer
03-11-11, 10:07 AM
Cash everything.

KEV248
03-11-11, 10:10 AM
cash money baby!!

GOSLOW
03-11-11, 10:17 AM
First car, my accord was all cash which I made during high school and fulltime work between yr12 and uni.

Sold the accord, saved some more, bought the S14. Sold that, saved more, sold some shit, borrowed a small amount and bought my EP3R.

I hate debt, but am pretty good managing my money and only took the small loan because I know I can pay it off within months, which is my main goal. Only reason I took it instead of waiting was because I'm moving interstate soon and choice of EP3's in WA is extremely limited.

Not even starting mods until the car is 100% mine. I was always against loans, but if you have stable income and decent income at that, then they're manageable and just allow you to get things quicker. Shit once this loan is out I'll only have paid a day or twos worth of work on interest. not much to get something a bit earlier.

RXS3VN
03-11-11, 11:04 AM
Both s15 and fc3s
Are all saving and stupid hrs at work..lol
Never had a loan over 5 g

RR-04-RR
03-11-11, 11:11 AM
loan for the 180 and cash for the 4runner

this makes me wonder, do anyone that have cash have a credit history? wells besides your phone bill?

MXEMUP
03-11-11, 11:14 AM
Agree with the people here, if I can't pay cash = I can't afford it.

I've owned every single car I've had. I started with my first car at $3,000 and now my budget is mid $20,000's. I just like to work my way up.

Biggie
03-11-11, 11:15 AM
had loan payed it.

leased the commodore pre tax as a tax deduction....

but fked that off :P

back to square one again debt is bad mkay

Tonba
03-11-11, 11:22 AM
Own it outright. Never got a loan..

Looking at geting a novated lease for my daily..

evil_weevil
03-11-11, 11:43 AM
MX5 - mine (cash)
Berlina - Mine (cash)
Trailer - mine (cash)
i30 diesel - half ours and banks (cash + loan + trade in)
home - 75% banks :(
baby on the way - sell MX5 and trailer? hope not....!

Mr. Keets
03-11-11, 01:27 PM
GT-R, Mine
MX-5, Mine
VRSCX, Mine

Faked if i would spend money on the banks car

Wink
03-11-11, 01:45 PM
lol you guys on some lowlevel shit with your cash...

http://farm3.static.flickr.com/2416/2273200482_803199a4ba.jpg

Kyon
03-11-11, 02:57 PM
Taking out a loan for a depreciating asset is dumb. Cash money all the way.

J
03-11-11, 03:21 PM
Taking out a loan for a depreciating asset is dumb. Cash money all the way.

Yep, and the complexity of explaining that to retards with $40k debt over a car that will not be worth even a third of that once it's paid off.

J
03-11-11, 03:26 PM
99 problems but a loan ain't one

probably why my shit sucks

cash rules everything around me

Cream get the money

The saying I always think of is something I spotted on the back of some old bucket;

"It's not much but at least its mine"

macaroni
03-11-11, 03:57 PM
Worked my ass off for it, saved up and paid with my own moolah :D

GOSLOW
03-11-11, 04:09 PM
Regarding loans. I would never purchase a car completely with a loan. but if you're spending 20K on a car and are 5k short for instance, I think loans can be really helpful. and if you shop around, bargain a half decent interest rate and pay it off quickly you can find yourself paying minimal interest. I know on a $5K loan I took the total amount I paid at the end was around $5300 since I paid it off quick smart.

Bodgy Racing Developments
03-11-11, 05:05 PM
all mine!

87seca
03-11-11, 06:51 PM
Yep, and the complexity of explaining that to retards with $40k debt over a car that will not be worth even a third of that once it's paid off.

Try to explain that to some Euro brand owners at the end of 3 years. But you are talking about outstanding residuals that are twice the value of the car in some cases. In other words, mate you are going to be driving this car for a long, long time.

First 5 cars were cash.
Soarer had a small amount borrowed to get the one I wanted.
SSV was a full amount borrow, but for tax reasons. Came out way in front with that one.
Wife's car was a borrow, again for tax only.

-EGA.2.90-
03-11-11, 06:57 PM
Cash cash cash!!!!

renstar
03-11-11, 08:14 PM
Ticked up on credit with this loan shark from the cross. Haven't given him any money for weeks, sucker... Someone's knocking on my door brb

KEIVAN
03-11-11, 08:51 PM
Mine

SamB87
03-11-11, 09:17 PM
I personally think there's a little bit of bullshit in here with people saying they have all paid cash for their cars. Some of which aren't exactly cheap either. Everyone must either have a decent/high paying job, or don't live a fucking life and spend their entire wage on nothing for two years to buy a car.

I got a loan for my 15, and am still paying it off. I don't regret it, and never will. Once it's paid off it'll be just as much mine as it was when I first got it, no difference. Every single mod I've done has been with my own money, the bike I bought was with my own money, and the next car/ute I buy will probably be on finance too. Why? Because I have better things to save up for, like a house, and getting a seven year loan at a low percentage allows me to do that so when I get a mortgage and roll them over into an even cheaper rate I'll just own them anyway. And the house going up in value counters the car loan.

But seriously, who gives a fuck. People need to get real.

OLik
03-11-11, 09:33 PM
I personally think there's a little bit of bullshit in here with people saying they have all paid cash for their cars. Some of which aren't exactly cheap either. Everyone must either have a decent/high paying job, or don't live a fucking life and spend their entire wage on nothing for two years to buy a car.

I got a loan for my 15, and am still paying it off. I don't regret it, and never will. Once it's paid off it'll be just as much mine as it was when I first got it, no difference. Every single mod I've done has been with my own money, the bike I bought was with my own money, and the next car/ute I buy will probably be on finance too. Why? Because I have better things to save up for, like a house, and getting a seven year loan at a low percentage allows me to do that so when I get a mortgage and roll them over into an even cheaper rate I'll just own them anyway. And the house going up in value counters the car loan.

But seriously, who gives a fuck. People need to get real.

this! lol at the end of the day,i sold the car, saving for other things atm, got a wedding to plan and will be buying some real estate next year. having a break from modifying, ill come back to it when i have some other areas of my life sorted.

i still clench my arse cheeks everytime i see a cop like i did when i had the s15, however its a breath of fresh air blending into society with a normal car. no hassles, no defects, no attention. lifes easier on this side lol. dont get me wrong i miss skids ...bigtime! i bought a car i hate so i dont modify it. oh yeah bought the replacement cash money. its only cheap tho.

evil_weevil
03-11-11, 09:35 PM
/\/\/\ Or they still live with mum n dad :D

Im just jealous I dont - Id be a rich man....!

munchhunch
03-11-11, 09:39 PM
previously on 5 years loan (but paid it off in 2 years) but the last 4 purchases = cash cash cash

Now debt free and in positive cashhhhh

Honda_impreza
04-11-11, 11:33 AM
So only 13% of members have leans on their cars.

Does that include unsecured personal loans? That's how I got my car. I then sold my previous car and paid off a large chunk and finished the rest off over 1.5 years (it was a 5 year loan). But in the future, I'm gonna save, no more debts for a depreciating asset.



Either some people are lying , or they have generous and/or rich parents who they probably live with rent free
( no one will admit to getting daddy to buy their baller car)...

...or there are heaps of self-made ballers out there.

evil_weevil
04-11-11, 11:36 AM
put it this way...
even if I had 100k in the bank and was going to buy a $50k new car (not that I would or do! lol)

Id still get it financed...
Id do half cash, half financed and still keep the money I have saved in a high interest earning account which depending wh you finance through (staff rates? hehe) the fianance interest rate could be lower than your high interest account.

plus you never know whats around the corner or what happens in life so always best to have some sort of savings behind you.

Nemo
04-11-11, 12:33 PM
Had the parents help out with my first car in high school, paid half and half for a Corolla.

Since then though the cars and mods have all been my own cash. Granted apart from racking up a massive HECS debt with uni I don't have many other expenses such as rent etc as I still live at home.

dopey
04-11-11, 06:38 PM
So only 13% of members have leans on their cars.

Does that include unsecured personal loans? That's how I got my car. I then sold my previous car and paid off a large chunk and finished the rest off over 1.5 years (it was a 5 year loan). But in the future, I'm gonna save, no more debts for a depreciating asset.



I've financed pretty much all of my previous cars, or at least partially financed them - I don't think there's anything wrong with it if you pay the loan off as quickly as possible and don't borrow an excessive amount. If you secure a good price on the car and shop around for the right loan you don't really end up having such a bad deal at the end of the day. One thing is crucial though - you must apply yourself to pay it off as soon as you can. To me a small amount of interest is worth it when it means getting what I want sooner and enjoying life.

87seca
04-11-11, 06:58 PM
I personally think there's a little bit of bullshit in here with people saying they have all paid cash for their cars. Some of which aren't exactly cheap either. Everyone must either have a decent/high paying job, or don't live a fucking life and spend their entire wage on nothing for two years to buy a car.

I got a loan for my 15, and am still paying it off. I don't regret it, and never will. Once it's paid off it'll be just as much mine as it was when I first got it, no difference. Every single mod I've done has been with my own money, the bike I bought was with my own money, and the next car/ute I buy will probably be on finance too. Why? Because I have better things to save up for, like a house, and getting a seven year loan at a low percentage allows me to do that so when I get a mortgage and roll them over into an even cheaper rate I'll just own them anyway. And the house going up in value counters the car loan.

But seriously, who gives a fuck. People need to get real.


Spot on it dont matter, its your money and life.. But it is interesting to see what is important to people.

mig
04-11-11, 09:10 PM
Mine...

gear-head
05-11-11, 02:52 AM
Mine some of the money came out of a coin tin when I was young I didn't even know you could get a car on loan till I was 19 hahaha

Rad
05-11-11, 08:31 PM
I've financed pretty much all of my previous cars, or at least partially financed them - I don't think there's anything wrong with it if you pay the loan off as quickly as possible and don't borrow an excessive amount. If you secure a good price on the car and shop around for the right loan you don't really end up having such a bad deal at the end of the day. One thing is crucial though - you must apply yourself to pay it off as soon as you can. To me a small amount of interest is worth it when it means getting what I want sooner and enjoying life.

^ this.

[ IV 23 VI ]
06-11-11, 11:37 AM
Bought Cash for my previous Honda Accord and then traded in and loaned the remainder for the Lexus GS300.

meadan
06-11-11, 06:29 PM
I got a $7000 personal loan when I was on my p's and still living with my parents as an apprentice.
Paid that off in 2 years and went from there.
If its only for a small amount (under 10k), a loan isnt so bad, its just paying a small fee for the bank to basically help you get what you want without waiting till you save.
I dont see myself ever getting 40k+ loan for a car though.

So far Ive had an $7000 loan and a $3000 loan, both have been fully paid off in the last 3 years. Now I have my ae86 and a hilux (id like to think combined they are worth quite a bit more than 10k), both registered, both insured and both fully owned. I probably would have been struggling if I was saving instead of getting the small loan, but now I have what I wanted and Im debt free.

But I guess if your parents treat you like a baby it would be alot easier...happy to say I started having a life at 18 though :)

SVD115
07-11-11, 12:21 AM
mine, but im sometimes tempted to take a small loan and fix everything i've been progressively doing over my period of ownership, when your a uni student not getting paid much, it's not really the smartest thing though, so i'll keep driving it looking like a beater, having creaks and rattles, and enjoy it for what it is, and when i can afford to, fix the issues, that said though, if i had a good enough job i could pay off a loan for a newer car then i would, borrowing money to do mods though, no i don't think so...

fullboost
07-11-11, 11:56 AM
banks ! i cant save a dollar to save myself ... lol

EvoBlitz
07-11-11, 12:33 PM
Personal loan (28k) on my 9, had it 6 months, more than half paid off. I waited four years (length of my degree) to get it, I didnt want to wait any longer lol.
That said, I respect those that are able to buy their car in "cash".

Honda_impreza
08-11-11, 10:34 AM
I'm debt free and have just started to save as I want to upgrade my car to a MY99 or MY00 GC8 WRX (maybe an MY02 GD if I can get one at a good price) with an aim of a budget of $13-14K.

I could probably get $9k for my EM1 (conservatively, as it's in excellent condition) and borrow $4-5k from the bank, I'm tempted.

Queenie
08-11-11, 10:47 AM
Loan with a credit union - almost paid off.

The difference I'm seeing here is whether people plan on modding or not. They feel like they're modding someone else's car - fact is you're name is on the damn car LOL
I haven't done a thing to my car except add a lip kit to it and I don't mind paying how ever much I do a fortnight. I have a life too.

Someone else said it on here - all these people who are paying cash, how's your credit rating? That was also one of the reasons I got the loan too...

anth
08-11-11, 10:54 AM
I've heard once or twice before that having successfully paid off a previous loan/loans doesn't necessarily give you a good credit rating, but if you fail to make payments then it does give you a bad one (but so does failing to pay your phone bill). I know when I got my mortgage, my previous car loan was never discussed. I could be wrong, like I said it's just something I've heard. Anyone who knows for a fact want to chime in?

JDM-20L
08-11-11, 11:46 AM
I know when I got my mortgage, my previous car loan was never discussed. I could be wrong, like I said it's just something I've heard. Anyone who knows for a fact want to chime in?

I'll chime in here Anth.

Depends on your circumstance really, I am currently going through the process of a property purchase and all my previous good credit history seems to matter fuck all. (and I've got a decent amount of good history) but if your in LMI territory (which yes I am) they will just skull fuck you and drag you over the hot coals until you bleed! Unfortunately this would be the norm for most home buyers unless they have 20% or greater contribution, on an average property (read $500K) in Sydney and most places thats $100K cash money.

They will look at your servicing and savings history! Genuine savings is a must.. don't even bother going for a mortgage without it! No your parents can't just give you a $50K gift despite your ability to service a mortgage.

So for those saying getting a loan and credit is good for your credit history come mortgage time? Quite frankly its a load of hot cock and counts for nothing.

Your credit file will only be damaged if you receive a default, also every time you apply for credit or anything credit related it shows up on your credit file... this is trivial as to whether a good or bad thing (because it doesn't define accepted or denied)

SamB87
08-11-11, 11:46 AM
I've always thought it counted towards your credit rating. In my case it does since the CBA wants to throw another 30k at me, they rang me and said it's already pre-approved and ready if I ever want it. All because I've paid off a 10k loan when I was 18-19, and now my 27k loan now. Bastards are always trying to send me credit cards too with $20k limits on them too, don't need them.

Gorilla
08-11-11, 12:02 PM
Ive always had loans or leases, but depends on the car. My cruiser i bought cash, supra loan, but paid it off once I sold an investment property. If i want something and I have worked out i can afford to service the loan, aswell as pay my mortgage and bills and still have some $$ left over ill get it haha.

Drifter995
09-11-11, 02:49 AM
I own all three of my cars.. well... two and a half.. or even two... The bluebird was a cheapie... the blue civic i got some money from the parents for it, and payed for the rest.. green civic was bought for me.. nothing major, nice and cheap first car. the perfect first car ;D

Basically, I'd much rather own something myself, and have the time to save up for mods and fixing the car and stoof, then paying off the car.

jiggyboi
09-11-11, 01:07 PM
THE old lancer was payed off full the camry payed in full (who cant afford a $150 car?!) the X i saved 8k, dad gave me 5k and the rest on CBA loan.

Mum works for CBA and all I can say is IT DOES MATTER, having a good credit rating with a high amount just says to them that you can manage the loan, apparently that what they look at first your credit history.

sultanaz
09-11-11, 04:47 PM
my 2 cars are all 100% mine :D only thing i wna loan is a house, unless i win lotto :D *fingers crossed + dreaming*

rowboat
09-11-11, 05:23 PM
I want to see this thread in a forum occupied by cars worth over 40k.

JamesG
11-11-11, 04:17 PM
Loan for the work car - great tax break and use it to tow the RX7 which I own. Funny how my work car goes through so many tyres, an engine rebuild lol all tax deductable...............muhahahahah! Thanks Julia Gillard for sponsoring my track car.

evoVIImoneypit
21-11-12, 05:00 PM
I use card for the expensive mods. just for cash flow purposes so I don't have to touch my savings.

Theres nothing wrong with using a credit card if you're smart about it.

I work hard for a stable income and budget myself, I will never buy anything I can't pay off straight away if i have to. And pay it off in instalments before interest starts accruing.

if you're smart about it and have a stable income, credit cards can be very useful. It all comes down to if you can restrict yourself to living within your means. Credit cards arent the problem, its mostly the people that use them that can't control themselves or budget properly.

Edit: I had no idea how old this thread is. oh god. sorry.

TRPLSX180
21-11-12, 06:14 PM
cash money!

http://i110.photobucket.com/albums/n106/luke_mclellan/moto4.jpg

last week i was desperate for a newer car to drive to work and around, didnt want some old heaper.

got approved then bitched it lol

i like my money where it is!

turbocab
21-11-12, 07:02 PM
The honda city turbo is all mine and always has been.
The SR5 hilux with all the bells and whistles is all mine.all 50 grand of it mine not the banks.
My father always taught me if you can't afford to buy it don't borrow someone else's money.with exception to a home loan.

OLik
23-11-12, 09:06 PM
lol havent seen this thread in ages!!


this! lol at the end of the day,i sold the car, saving for other things atm, got a wedding to plan and will be buying some real estate next year. having a break from modifying, ill come back to it when i have some other areas of my life sorted.

i still clench my arse cheeks everytime i see a cop like i did when i had the s15, however its a breath of fresh air blending into society with a normal car. no hassles, no defects, no attention. lifes easier on this side lol. dont get me wrong i miss skids ...bigtime! i bought a car i hate so i dont modify it. oh yeah bought the replacement cash money. its only cheap tho.

lold at my post. so its been about a year. i got married and the mrs and i are in a position to buy! i am getting itchy as fuark to go fast so much so that my current daily feels fast some times o_0



I've always thought it counted towards your credit rating. In my case it does since the CBA wants to throw another 30k at me, they rang me and said it's already pre-approved and ready if I ever want it. All because I've paid off a 10k loan when I was 18-19, and now my 27k loan now. Bastards are always trying to send me credit cards too with $20k limits on them too, don't need them.

i get the same thing too. those banks are cheeky carnts mate i swear lol the bank is really only interested in your debt if you have debt collectors after you or something similar. other that a good saving history, heck some banks even consider paying rent on time as good history. itd difficult as hell to pay rent and save a deposit for a mortgage.

Caldina
23-11-12, 09:09 PM
Only car I've bought with a loan was my Xr6 Turbo all the others and thousands I've spent modifying them have been with kesh.

yuj1n
07-01-13, 07:52 AM
Bought outright, I just don't want to end up paying additional interest on a something that loses value over time.
If i really had to I might take out a loan but otherwise no.

omgwtfbbqsauce
07-01-13, 08:26 AM
No loan, no credit history. I had the cash and still took out the loan just to build my credit history up.

CaptainColen
07-01-13, 08:51 AM
Own it. Feel less guilty about being a reckless douchebag that way.

timmy201
07-01-13, 04:55 PM
I bought a brand new car on a loan.

Payed that 7 year loan off in 9 months. They still got me for about $900 interest on an $18,000 loan, but at least I built up a "credit history"..

I would have saved at least $500 in driving a more fuel efficient car anyway, and insurance was another few hundred cheaper on the new car too.

Aleks.B
07-01-13, 06:01 PM
YMCMB

CASH MONEY NIGGAS



Car 1: 3300
Car 2: 400

BALLIN AINT EASY SON

Eric.Conliffe
07-01-13, 07:56 PM
All depends on your situation in terms of job (financing, leasing or salary sacrifice).

Having said that, the 6 cars I've owned to date have all been with cash money.

My next will car will be leased as i now work for myself on the side.

EvoX
10-02-13, 09:13 PM
Mine all mine. Just can't afford a loan for a car, might as well buy a cheaper car and invest the rest, that way you'll get some returns.

illmatic
24-02-13, 01:36 PM
got a mortgage and topped it up just a tad more for my evo. lol at blowing 20k of hard earned cash on a car

Mikeyg
24-02-13, 03:57 PM
i had all my cars with that youngmoneycashmoney business.... the only loan i have now is the 50k for my porchse 911 gt .... my house loan cant wait..

Stunn-R
06-03-13, 05:06 PM
People get loans for mods?

DAFAQ.

US05LW
07-03-13, 02:34 PM
People get loans for mods?

DAFAQ.

yeah people get mods with credit cards lol nothing new

best way is cashhh :D

Fr4n
07-03-13, 02:56 PM
Dat dere 25 sittin on 25 mil

Stunn-R
08-03-13, 02:26 PM
yeah people get mods with credit cards lol nothing new

best way is cashhh :D

No smartass,

Let me rephrase that

"People get PERSONAL LOANS for mods?"

OLik
08-03-13, 05:06 PM
Dat dere 25 sittin on 25 mil

you must CEO 10k/day

Prancer
08-03-13, 05:30 PM
so what happens once the loan is paid off, can i pretend i own it outright ftw cash baller yo?

sssxtc
08-03-13, 07:15 PM
No cuz

elisss
09-03-13, 01:33 PM
got a mortgage and topped it up just a tad more for my evo. lol at blowing 20k of hard earned cash on a car

lol at paying 10-15% interest per annum for 3-7 years on a depreciating asset.

You've got it all worked out mate :P

SamB87
09-03-13, 04:50 PM
lol at paying 10-15% interest per annum for 3-7 years on a depreciating asset.

You've got it all worked out mate :P

You're a fucking idiot.

Mortgages are 6% at best. And over 20 years it's nothing. Refinancing with your mortgage is the smartest way to buy a car apart from paying cash since you're re-borrowing against a house, not the car. So you own it outright straight away.

Come back and play once you've grown up.

plAythiNG
10-03-13, 10:21 AM
well said Sam. However on the flipside, paying off a $20k "loan" over mortgage rates and paying the minimum required over 20 years will actually disadvantage the borrower and the borrower would be better off paying the same $20k loan over personal loan rates over the period of 7 years max.... Having said that, borrowing money off your mortgage and paying it off with repayments as if it was a personal loan would see the best outcome for the borrower...

plAythiNG
10-03-13, 10:27 AM
well said Sam. However on the flipside, paying off a $20k "loan" over mortgage rates and paying the minimum required over 20 years will actually disadvantage the borrower and the borrower would be better off paying the same $20k loan over personal loan rates over the period of 7 years max.... Having said that, borrowing money off your mortgage and paying it off with repayments as if it was a personal loan would see the best outcome for the borrower...w

plAythiNG
10-03-13, 02:06 PM
well said Sam. However on the flipside, paying off a $20k "loan" over mortgage rates and paying the minimum required over 20 years will actually disadvantage the borrower and the borrower would be better off paying the same $20k loan over personal loan rates over the period of 7 years max.... Having said that, borrowing money off your mortgage and paying it off with repayments as if it was a personal loan would see the best outcome for the borrower...

SamB87
10-03-13, 02:07 PM
Redrawing against the mortgage is the better option though since the house will just appreciate in value to compensate the money going out.

And if you're really smart you'd redraw against an investment property and not your primary place of residence, since all the interest is tax deductible. And if you're even more switched on again, the car won't be in your name either so if the shit hits the fan and you lose the house, the car can be sold to recoup some loss or help pay for shit since you own it outright.

schoona
10-03-13, 04:24 PM
I've had loans.
Got loan for Mk4 R32 golf because gave the car I had at the time to my sister so she could move out and get around.
traded that in on my JZX which I now own outright.

Having loans isn't all bad, yes you pay more for it but you can acquire something when it's convenient (saving for another 2 years to pay cash when you need wheels now doesn't work), gaining a good credit history, teaching you responsibilities of managing a loan are all good.

If you can save aswell on the side and prepare for a house, at the end of it (especially if you pay car off early) you have credit rating, proven savings, and a deposit for a house.

That's where you want to be.

schoona
10-03-13, 04:25 PM
I've had loans.
Got loan for Mk4 R32 golf because gave the car I had at the time to my sister so she could move out and get around.
traded that in on my JZX which I now own outright.

Having loans isn't all bad, yes you pay more for it but you can acquire something when it's convenient (saving for another 2 years to pay cash when you need wheels now doesn't work), gaining a good credit history, teaching you responsibilities of managing a loan are all good.

If you can save aswell on the side and prepare for a house, at the end of it (especially if you pay car off early) you have credit rating, proven savings, and a deposit for a house.

That's where you want to be.

schoona
10-03-13, 04:32 PM
I've had loans.
Got loan for Mk4 R32 golf because gave the car I had at the time to my sister so she could move out and get around.
traded that in on my JZX which I now own outright.

Having loans isn't all bad, yes you pay more for it but you can acquire something when it's convenient (saving for another 2 years to pay cash when you need wheels now doesn't work), gaining a good credit history, teaching you responsibilities of managing a loan are all good.

If you can save aswell on the side and prepare for a house, at the end of it (especially if you pay car off early) you have credit rating, proven savings, and a deposit for a house.

That's where you want to be.

Kyon
11-03-13, 08:14 AM
Loan or cash, it doesn't really matter as long as you're the one paying it off.

I have no respect for people who get their parents to buy them their car or to pay the loan off.

Mikeyg
11-03-13, 09:38 AM
Dat dere 25 sittin on 25 mil

I'm in the building and I'm feeling myself


lol at paying 10-15% interest per annum for 3-7 years on a depreciating asset.

You've got it all worked out mate :P

LOL!!!! you are a fool...

please sack yourself and come back to this thread

schoona
11-03-13, 10:13 AM
lol at all the triple posts cos forum farked haha

Honda_impreza
11-03-13, 10:16 PM
All you douche bags with the triple posts, you are fools to be paying interest at all on your car.

Rates on a new car are as low as 6.3%. For a 40 grand car, 6.3% is abut 50 bucks a week pure interest (no principal). That's 2.5 grand interest per year, without even taking into account depreciation. If the car is not new, the rates will be higher, up to 20% depending on the car.

And for all you home owners out there, don't expect you house to appreciate to cover the overdrawn amount, capital gains have been shieet for the last 2.5 years, with some pockets of the country incurring major capital losses. Safe as houses is the mantra of the baby boomers and gone forever.

generation living on credit

SamB87
11-03-13, 11:23 PM
All you douche bags with the triple posts, you are fools to be paying interest at all on your car.

Rates on a new car are as low as 6.3%. For a 40 grand car, 6.3% is abut 50 bucks a week pure interest (no principal). That's 2.5 grand interest per year, without even taking into account depreciation. If the car is not new, the rates will be higher, up to 20% depending on the car.

And for all you home owners out there, don't expect you house to appreciate to cover the overdrawn amount, capital gains have been shieet for the last 2.5 years, with some pockets of the country incurring major capital losses. Safe as houses is the mantra of the baby boomers and gone forever.

generation living on credit

Y'all are rookies at this.

I bought a car on finance in January last year. Had cash, but my accountant suggested finance due to the tax break I'd get. The car/truck was $42k as well for reference. Interest is tax deductible, I claim rego, insurance, services, tyres, diesel, everything. Every single dollar that is spend on that vehicle. And it's not even a business rego'd car.

Plus a ute/truck doesn't depreciate like normal cars or imports do. So it's more beneficial to get them on finance since the interest outweighs the depreciation, which equals more to claim come tax time. Don't just look at buying a car as a one way street, you want to do it the best way so that it benefits you and screws the government at the same time.

Trolls Royce
11-03-13, 11:58 PM
Loans cos I'm irresponsible.

bboyzell
12-03-13, 12:04 PM
Gone though a Couple of loans. 1 for holiday (which looking back was stupid)
And the 2nd was a $7500 for a GC8 WRX for when i got on my P's

First loan was paid back within a year and a bit.
Same With the Subaru (ended up selling it, was a lemon)

Currently both cars i have i own.
R33 GTS & a 88 CRX.

And if i want a change of car down the line i will sell off the 33 and save my cash!

greens14
12-03-13, 09:10 PM
All mine. Did have a loan on it a few years back, but when i sold my house i made a good profit, so i payed off the S14 and my wifes car before we bought a new house.
Get stuffed bank!!!

philz
12-03-13, 09:16 PM
Taxpayer's money, Centerlink baby!

Mikeyg
13-03-13, 05:49 PM
Taxpayer's money, Centerlink baby!

LMAOOOOOO

http://crent.aasitedesigns.com/humour/pictures_files/Powered_By_Centrelink.jpg

jiggyboi
18-03-13, 08:30 AM
sooo the people here saying that they paid their 27k loans in 7-9 months, how do you do that? im genuinely interested i need to learn that. ive been trying to do that but house bills, rent, life ( well if you count petrol, or citylink or cheapo chinese dinners life?).

please, im asking nicely and politely. dont be a smart ass, or answer this question if your still under daddy's roof.

schoona
18-03-13, 12:37 PM
I'm in a position where I work weekend dogwatch. Double time 12 hour shifts on Saturday and Sunday plus put extra effort with 8 hour overtime shifts midweek also

Shit because lose your weekend (and shit for long distance relationship) but if that's what you gotta do for a job and it pays well...

schoona
18-03-13, 12:39 PM
It was a 7 year term loan no way was I paying 45k total or something for my jzx and even on a 'tamer' program could still have paid it off in 3 years pretty comfortably.

I wanted the liability out of the way, it listed as an asset and start working on a house

Wink
18-03-13, 05:31 PM
sooo the people here saying that they paid their 27k loans in 7-9 months, how do you do that?

Basically comes down to; earn more money in your job

Laps
18-03-13, 08:55 PM
27k in 7-9 months on a wage these days is near impossible, the price of living is to high!

schoona
18-03-13, 08:59 PM
Move out of Sydney!
Just trying to sell stuff most of you are to tired to drive from 1 side to the other but come a few hours north and there are some other industries paying well where if you put the effort in you can achieve that

Boogs
18-03-13, 11:35 PM
27k in 7-9 months on a wage these days is near impossible, the price of living is to high!

depends your wage and how disciplined you are with your money.

I got a part loan for the Lib, but after 18 months its paid off. Reason I got the loan was because I didnt want to use up any savings.
Once a sale of a house comes thru, things will be different again as want to build/need bigger house/man shed/etc etc.

ivandude
25-03-13, 04:08 PM
You're a fucking idiot.

Mortgages are 6% at best. And over 20 years it's nothing. Refinancing with your mortgage is the smartest way to buy a car apart from paying cash since you're re-borrowing against a house, not the car. So you own it outright straight away.

Come back and play once you've grown up.

So I guess whoever thinks they are the most correct, gets to be the biggest asshole around here? Keep up the great stuff!

His original comment mentioning 10-15% and 3-7 years should have been more than enough indication it would largely be referring to personal loans, and not mortgages...

Most bank car loans, based around used cars (totally different interest rate given on new cars by diff dealers and institutions), would probably only see lowest interest rate of 13% approx. I am going to take a wild stab and assume most people on the forums are young, and do not own their own house

Addition: Read a few more posts, seems a lot of people quote 'new car' rates and forgotten everything else. Try thinking what a lot of young folks do who want to buy a privately owned car, often an import that may be worth 20k+. It's affordable for many young people to just get a personal loan, usually between 4-7 years, and between 13-15% from a banking institute. This fits the bill for a lot of JDM Style Tuning surely , a few of the sought after sports car's values 20k+ and still anywhere from 5 to 25 years old.

SamB87
25-03-13, 04:24 PM
So I guess whoever thinks they are the most correct, gets to be the biggest asshole around here? Keep up the great stuff!

His original comment mentioning 10-15% and 3-7 years should have been more than enough indication it would largely be referring to personal loans, and not mortgages...

Most bank car loans, based around used cars (totally different interest rate given on new cars by diff dealers and institutions), would probably only see lowest interest rate of 13% approx. I am going to take a wild stab and assume most people on the forums are young, and do not own their own house

Addition: Read a few more posts, seems a lot of people quote 'new car' rates and forgotten everything else. Try thinking what a lot of young folks do who want to buy a privately owned car, often an import that may be worth 20k+. It's affordable for many young people to just get a personal loan, usually between 4-7 years, and between 13-15% from a banking institute. This fits the bill for a lot of JDM Style Tuning surely , a few of the sought after sports car's values 20k+ and still anywhere from 5 to 25 years old.

Did you even read the post he quoted?

Bloke was speaking about borrowing against his mortgage, not a personal loan. And then this guy reckons it's a dumb idea since they're around 10-15%.

Learn to read shit before you get on your high horse. And while on the topic of personal loans for used cars, I've had lower than 13%, closer to 9% actually. It helps to shop around and not just stick with the bank which your savings are in.

ivandude
25-03-13, 05:01 PM
No, I don't see what he quoted or known he quoted anything, my mistake mate. I quoted him from another person re-quoting it 1 page ago. Shit's too long to read fully on the quick break :P

Well in that case, its not related to what youre saying, I take that back - the latter part is still valid a lot of young people do see themselves in the loan scenario. I dont think its bad at all either, it works if you need it and are economically stable as a young person too. I was like that initially but now any car I own has been via cash, incl its building/parts.

plAythiNG
25-03-13, 08:53 PM
What a waste of forum space... read properly next time before throwing in your 2cents.

illmatic
25-03-13, 10:29 PM
lol at paying 10-15% interest per annum for 3-7 years on a depreciating asset.

You've got it all worked out mate :P

lol you're dumb as fuck son

i bought my investment property and when it settled i had an interest rate of 6.7%. the rent covered most of it however when the rates started going down (sitting at 5.4% currently) i decided to buy my evo and guess what? because the interest rate went down, my rent now covers the principal for the property and car.

you mad im only 22 aswell? get on my level faggot

elisss
26-03-13, 07:15 AM
lol you're dumb as fuck son

i bought my investment property and when it settled i had an interest rate of 6.7%. the rent covered most of it however when the rates started going down (sitting at 5.4% currently) i decided to buy my evo and guess what? because the interest rate went down, my rent now covers the principal for the property and car.

you mad im only 22 aswell? get on my level faggot

That's nice.

omgwtfbbqsauce
26-03-13, 09:06 AM
http://www.failauthority.com/images/23816150.jpg

ivandude
26-03-13, 09:44 AM
What a waste of forum space... read properly next time before throwing in your 2cents.

Cheers for adding your useless 2c here mate, very appreciated. I can feel free to reply whenever I like whether I read all 20 pages or not so I can just say a big fuck off to your useless comments. I guess you didn't read the new point I was making away from mortgages, and maybe other people want to talk about other points too.

schoona
26-03-13, 11:22 AM
There is nothing wrong with car loans if you can afford to service them correctly, appreciate the lender is there to make money so pay it off quickly and that extra money is mods or next step (house money)

At the end you still own it and it become an asset not a liability and can worry free motor for a while.

Extending a mortgage to buy a car could work out alright, but that would depend on the car buying against, how much of loan left to pay etc

Joshontilt
09-04-13, 07:06 AM
Loaned my car, probably loan the next. Haters gonna hate.

That being said, I'm a tax accountant and can make it work a little more in my favour

Starwarz
19-06-13, 11:34 PM
What are peoples opinion on paying half cash and half loan, and leaving more money in the bank then then the loan you have taken out. Im not good with this money stuff i just work and save never looked into loans and credit cards and my parents are in my ear about leaving money in the bank for a mortgage deposit......and building an investment portfolio im 21 and most of what they say is alien to me. Really they do my head in, i would rather just pay cash and debt free but they argue that its better to have money in the bank and everyone pays with loans these days (maybe for new cars but used car really ???). Everyone in my family is always talking about investment properties i really dont care at this age call it YOLO or whatever i haven't even graduated uni yet.

schoona
19-06-13, 11:51 PM
Now is a time to make good decisions.
1 year of smart work could have you 5 years in front when you are 40, so it's worth it.

Unfortunately cars are a depreciating asset, owning it means you have no weekly expenses and a value to work with.

But invest if you're in the position to. Be glad your parents are taking the time to care/educate you ;)

saad
20-06-13, 10:13 AM
For my first car, the GTI, I got a loan. Regret getting a loan, but also regret selling it as I would own it outright now! Anyway, got tired of making the repayments, so I sold it. Which was good as I lost my job shortly thereafter. All the other cars were bought in cash. However, the BMW 135, the wife and I got a loan for. Was a used car, but got like a 4.5% interest rate. Both of us were earning good money, we had savings for a house, we could have actually purchased it in cash, but chose to finance to keep our savings.

I always say I'll never finance a car again, but tbh it can be tempting, and if its not a brand new car (unless its for work and the tax works out), it can be worth it. The worst position is where your car is worth less than the payout figure, never wanna be in that position, as you never know what could happen.

OLik
20-06-13, 10:32 AM
For my first car, the GTI, I got a loan. Regret getting a loan, but also regret selling it as I would own it outright now! Anyway, got tired of making the repayments, so I sold it. Which was good as I lost my job shortly thereafter. All the other cars were bought in cash. However, the BMW 135, the wife and I got a loan for. Was a used car, but got like a 4.5% interest rate. Both of us were earning good money, we had savings for a house, we could have actually purchased it in cash, but chose to finance to keep our savings.

I always say I'll never finance a car again, but tbh it can be tempting, and if its not a brand new car (unless its for work and the tax works out), it can be worth it. The worst position is where your car is worth less than the payout figure, never wanna be in that position, as you never know what could happen.

i get what your saying, similar thing happend to me. Ended up purchasing property. i dont owe anything on the car that i drove now. it's a crapper anyway but it does the job. i am keen for an upgrade but not sure if i want to tick up money again. imo the less loans the better. even if you get the tax breaks and whatever it is still money out of your pocket each week. i figure once i have worked hard enough to be a decent car outright then i should purchase it.

saad
20-06-13, 11:31 AM
Yep, nothign beats paying cash aye! The feeling. Also, tracking a car that you owe money on, can be very risky!

plAythiNG
20-06-13, 12:01 PM
Keen to hear people's opinions on car finance loans versus secured.unsecured personal loans versus car loans vs cash.

I might be int he market for a new car. budget is $10k I have the cash aroundbut like others its for property....

at this stage i feel like taking out the $10k and buying the car, no issues with banks, no interest payable etc... is there any benefit in my getting a loan and apying interest on?

the only downside of my using the $10k cash to buy a car is it means I wont be able to buy my second proeprty for another 3 months as its the time period it takes for me to save up $10k

saad
20-06-13, 12:20 PM
Thinkg youve answered your own question.

OLik
20-06-13, 01:00 PM
10K is jack shit. dont borrow that.

saad; yes very risky. need to get on dat BALLLLLLLLLINNNNNNN time lol

ChunkyCharcoal
01-07-13, 12:25 PM
WAS in debt to Tony Soprano, thank god he's no longer around.

Joshontilt
20-08-13, 12:33 PM
It's the Bank's car, but I'm not letting it go till I own it and even then that won't be for a while as a house is next on the cards in 5 years time anyway.

schoona
22-08-13, 06:09 PM
Keen to hear people's opinions on car finance loans versus secured.unsecured personal loans versus car loans vs cash.

I might be int he market for a new car. budget is $10k I have the cash aroundbut like others its for property....

at this stage i feel like taking out the $10k and buying the car, no issues with banks, no interest payable etc... is there any benefit in my getting a loan and apying interest on?

the only downside of my using the $10k cash to buy a car is it means I wont be able to buy my second proeprty for another 3 months as its the time period it takes for me to save up $10k

10k is fuck all loan for either house or car.

Ie a loan for a 10k car second hand is silly, pay in cash.

10k as deposit (if the minimum 5%) means 200k for the property which won't buy much (although that doesn't take into account equity in first property).

I'd be looking at around 20k in the pocket as minimum deposit and properties around the 350k mark, as new as possible to make the most of depreciation (or older place that is WORTH renovating and is guarantee'd return in rent and capital)

So costs you another 3 months to be in a better property position, then go play cars with what you have left.

Or use the equity on first home to buy car because better interest rate, better value in doing that probably around the 30k mark though

OLik
23-08-13, 02:33 PM
10k is fuck all loan for either house or car.

Ie a loan for a 10k car second hand is silly, pay in cash.

10k as deposit (if the minimum 5%) means 200k for the property which won't buy much (although that doesn't take into account equity in first property).

I'd be looking at around 20k in the pocket as minimum deposit and properties around the 350k mark, as new as possible to make the most of depreciation (or older place that is WORTH renovating and is guarantee'd return in rent and capital)

So costs you another 3 months to be in a better property position, then go play cars with what you have left.

Or use the equity on first home to buy car because better interest rate, better value in doing that probably around the 30k mark though


so you would buy a property with a 20k deposit?

tim33h
23-08-13, 02:56 PM
the only downside of my using the $10k cash to buy a car is it means I wont be able to buy my second proeprty for another 3 months as its the time period it takes for me to save up $10k

Ballin dude!
Keep saving man, go check out some banks but I think you will need at least a 10% deposit to avoid mortgage insurance.

Paoooul
23-08-13, 03:16 PM
the only official jdmst financial advice comes from spam (http://forum.jdmstyletuning.com/showthread.php?57592-The-Official-SPAM-Thread-(Part-5)-Read-the-RULES-before-posting.&p=1431730#post1431730) can you please move along there for the best financial advice available on jdmst

tim33h
23-08-13, 04:50 PM
nek minut, Spam (part 6)

plAythiNG
23-08-13, 07:16 PM
Ballin dude!
Keep saving man, go check out some banks but I think you will need at least a 10% deposit to avoid mortgage insurance.
Working in a bank has its perks ;)

plAythiNG
23-08-13, 07:19 PM
10k is fuck all loan for either house or car.

Ie a loan for a 10k car second hand is silly, pay in cash.

10k as deposit (if the minimum 5%) means 200k for the property which won't buy much (although that doesn't take into account equity in first property).

I'd be looking at around 20k in the pocket as minimum deposit and properties around the 350k mark, as new as possible to make the most of depreciation (or older place that is WORTH renovating and is guarantee'd return in rent and capital)

So costs you another 3 months to be in a better property position, then go play cars with what you have left.

Or use the equity on first home to buy car because better interest rate, better value in doing that probably around the 30k mark though

$10k is def not solely for a deposit. I meamt it as its a saings that will be allocated to a deposit. Deposit i be loooking at $80k to cover 10% deposit plus stamp duty to come from the $80k too.

Lexus
23-08-13, 08:39 PM
$10k is def not solely for a deposit. I meamt it as its a saings that will be allocated to a deposit. Deposit i be loooking at $80k to cover 10% deposit plus stamp duty to come from the $80k too.

heard you bought a gtr34? TRUE? :D

plAythiNG
23-08-13, 10:59 PM
↑ true :)

Lexus
23-08-13, 11:27 PM
↑ true :)

osheeeeeeeeeeeeeeeeeeeeeeeeeeet! nice man ;) what happen to driving your mums crv OLOLOL

plAythiNG
23-08-13, 11:40 PM
Parents didnt end up getting a crv so i bought a gtr instead lol

estblshd
24-08-13, 09:00 PM
Something still on topic, but have any of you considered novated leases over 3, 4 or 5 years?

plAythiNG
25-08-13, 08:17 AM
Something still on topic, but have any of you considered novated leases over 3, 4 or 5 years?

Im not a big fan of novated leases simply because of the balloon/resdiual payment that comesat the last repayment...

I find that amount a conpletenrip of (usually 30% of brand new price). So it really entices u to simply refinance n grab a new car/lease for 5 years. Which means u never really are going to be out of debt. Obvoousoy u can sell the car but i hate being pressured tonsell / low balled as they know its at the end of a lease etc.

I guess if i was self employed then a NL would be tax effective thougg

estblshd
26-08-13, 02:48 PM
That's an interesting point!

The tax savings I have found reduce the overall cost

What i discovered is, I made an excel document with costs of a loan, outright and novated lease. Each column had expected expenses over, say 5 years. (fuel, servicing, tyres, car wash etc - basically everything that's included in a Novated lease) Of course, buying the car outright was the best option. However, not far behind was a novated lease. I would of only spent a few extra k if I had chosen the novated lease option over the outright option (this includes buying the car at the end of the lease - which was 25% of the original value of the price)

That being said, I did not calculate my expected tax saving over the life of the lease (5 years)

NL may be something for everyone to consider. As in a novated lease, you pay x amount per week, and this x amount covers fuel, servicing, tyres, etc. Where as, you may be paying the same x amount on a lease, and it does not include all running costs.

However, I'm still skeptical about this. So I'm keen to hear anybody who has experience in this

plAythiNG
27-08-13, 10:59 PM
Yes i heard nl are a good one off payment which covers rverything car related. Might suit the regulR individual who arent car enthusiasts... correct me if i am wrong but under the NL acheme. Can u take it to.your mechNic? Can u choosr what quality tyres u want etc... i have no experience so i am.guessing here
However i think not.... thus it will suit a person buying a car to get from A to B?

JacobJ
05-11-13, 12:35 AM
The European Central Bank is imploring European leaders to make a decision as to their nations' commitment to the euro, reports Reuters. A definite direction and greater defense against bank runs might be the only things that will keep the European Union from slipping into a fiscal chasm - and pulling the rest of the world down with it. If you need some financial help in these hard economic times, you can get a personal finance (https://personalmoneynetwork.com/cash-advance/).

Brains
05-11-13, 11:10 AM
I might chime in here.
My rex is on a novated lease. Within my weekly payments everything is covered (rego, insurance, petrol, maintenance costs, tyres etc). Basically my choices were to NL a brand new rex or to acheive a similar weekly cost I would have to purchase a Sub 15k car that was cheap on fuel and insurance.
The reason that NL works is because of the pre tax payment out of your pay. If you have any other questions about it just post up.

In regards to the residual payment, typically it is less than the market value of the car. You actually build equity through the duration of the lease. For example if you dont use the budgetted cost of tyres (which i dont i just source my own) then you receive that money back at the end of the lease, you can then also purchase the car for the residual and sell it for market value and you are able to keep the difference. There are numerous benefits to NL.

Edit: I am on a 2 year lease. Previously I did a 4 year lease. The benefits of the extra duration are no longer really worthwhile due to the change to FBT etc. Especially because you can just release the vehicle at the end of your period.

JDM-20L
05-11-13, 01:26 PM
Good first hand info ^^^

Tomcat
05-11-13, 01:37 PM
After 4 years owned by the bank it's finally mine! but may be have to sell soon...

Honda_impreza
06-11-13, 01:34 PM
^why would you have to sell it? Enjoy your freedom from the chains of debt and interest payments.

Poll says that almost 9 out of 10 of us own our car outright, yet many people seem to be talking about leases and leans against houses.

4dibbo
13-11-13, 07:50 PM
I own my evo 7 cold hard cash :)

OLik
14-11-13, 08:26 AM
^why would you have to sell it? Enjoy your freedom from the chains of debt and interest payments.

Poll says that almost 9 out of 10 of us own our car outright, yet many people seem to be talking about leases and leans against houses.

a lot of people are full of shit if you havent figured it out yet.

plAythiNG
14-11-13, 10:02 AM
Just borrowed some extra money off my INV loan for renos to the property... gonna buy a car this weekend perhaps. interest payments on the amount borrowed will be tax deductible so it doesnt hurt that bad!

TONTON
15-11-13, 06:03 PM
bought all me cars cashmoney bby, on a serious note, buying a house next year.. what method do you guys think is the best to pump up my credit ratings ?

hwyrunr
16-11-13, 12:12 PM
usually paying off loans and not having late payments helps your credit rating. other than that paying credit card debt off on time helps as well

i paid for all of my junk in cash until my Crown, my old Nissan pickup broke in half and i needed a new daily right away so i got a loan for the Crown (most expensive car ive bought ever lol). then a month after that the headgasket blew, right when i was going to fix it my dad passed away and i didnt want to deal with the stupid engine at all so i paid a specialty garage to rebuild it all ($3500 FTL). still paying off both the engine rebuild debt as well as a few grand still on the car. helps my credit rating at least

i never had a loan before the one for my Crown, just a credit card since i was 18 i think, and they gave me a $7000 loan without a co-sign because of my credit rating and i was only 21 when i bought the Crown

Boogs
16-11-13, 12:49 PM
bought all me cars cashmoney bby, on a serious note, buying a house next year.. what method do you guys think is the best to pump up my credit ratings ?

by getting into more debt. hahaha


/sarcasm.

TONTON
16-11-13, 07:45 PM
by getting into more debt. hahaha


/sarcasm.

Matt plz, dont let me radio in a code blue when I get shot trying to rob a bank in uniform

/justjoking!

Starwarz
16-11-13, 07:48 PM
Ended up buy outright cash, building up dat saving and resisting buying mods for a few months.

plAythiNG
17-11-13, 12:08 AM
bought all me cars cashmoney bby, on a serious note, buying a house next year.. what method do you guys think is the best to pump up my credit ratings ?

Dont worry about what people say about credit rating man. Honestly what us more imoortant is your servicibility. It income less your current expenses/debt and seeing if u have left.over money after your 'proposed' debt.

Besides yournservicibility what i dont believe is too hard to please... comming up with a sizable deposit and possibly enough.for stampnduty is what u want to focus on. Good luck

JDM-20L
17-11-13, 05:32 PM
Dont worry about what people say about credit rating man. Honestly what us more imoortant is your servicibility. It income less your current expenses/debt and seeing if u have left.over money after your 'proposed' debt.

Besides yournservicibility what i dont believe is too hard to please... comming up with a sizable deposit and possibly enough.for stampnduty is what u want to focus on. Good luck

All of this is all you need to know ^^ Spot on.

Only thing i will add to it is that you just ensure you are able to produce a consecutive 3 month statement to prove your savings or term deposit! Ie don't save cash dump it in an acc, they frown upon that.