Who has them or who has had one in the past to buy a car? How much did you borrow and how long did it take to pay off?

Borrowed 15k to buy my ute, about 1 month ago. Its gna work ut to be about 27k if i was to pay it off over 5 years Hoping to smash it in half the time

Quote: Originally Posted by MRHELE Borrowed 15k to buy my ute, about 1 month ago. Its gna work ut to be about 27k if i was to pay it off over 5 years Hoping to smash it in half the time f*ck thats more then double... how much are the repayments going to be and how often are you going to pay them?

i borrowed 10k for my berlina, paid about 2.5k off it in about 8mths

loans arent really a good idea for liabilities, you end up paying rediculously more than the cars worth. Although not everyone can save up the biccies to buy a car outright.

Borrowed 5 grand and paid it off in a yr!!!

jam the finance, if anything a bank loan would be the better option, or save save save and have no debts Some original photos have not been recovered yet.

yeah finance isnt the best option unless your getting it from a big company/dealership (ie; holden, ford, etc). bank loans are definantly the way to go.

payments are once a month and are abut 400 a month. Remember this is a business loan for a business vehicle, i need the loan there as a tax right off

ahh yep, way to go

Quote: Originally Posted by Unmarked f*ck thats more then double... how much are the repayments going to be and how often are you going to pay them? how is 27 more than double 15

Quote: Originally Posted by Nukz how is 27 more than double 15 i was meant to say "almost" lol.

4k borrowed to do work to me VL on 4yr term, paid it off in 1yr 3mnths paid $4300 all up. Including a $120 fee for finalising the load earlyer. i was happy with that.

ive just inquired with anz bank, to borrow 10k and pay it of within 3 years its $344.99 payments monthly and 14.66% interest which work out $1,466 extra. which bank did everyone go with and what were your interest rates?

have in the past and would never again, id advise everyone else not to aswell. Im talking finance, which is the pinnacle of sucker-ville. do NOT finance. If you HAVE to.. get a bank loan for the car, that way you actually OWN the car and can sell whenever you want, and dont need to compulsorily take out full comp insurance. But ideally, suck it up.. buy a cheaper bomb for cash short term, long term save up and buy the car you want with cash. Lower your standards and stop paying ridiculously inflated interest charges on a depreciating asset.

ur ^ exactly right, i rekon if u havn't got the money, don't buy a car in the first place

borrow agents your home lone. but be smart an smash your lone fast as you can. that might not work for all mind you.

Quote: Originally Posted by Unmarked i was meant to say "almost" lol. lol yeh i know just **** stirrin

If your going to get a loan get a personal loan not on finance. For me 9K was paid off in 7 months, don't ask me how lol

the lesser the loan term, the less interest you do have to pay, for smaller loans under 5k, get a credit card, lower rate cards have low interest rates around the 11% mark and if you pay it out early, no early repayment fees, which is much cheaper than PL interest, also, an annual fee of around $40 is heaps cheaper than an $8 loan service fee per month on a personal loan, so youll be out in front. stay away from finance companies, they'll make theyre interest rate look better, but they're fees are hidious and youll pay more. Using the car as security if its newish is a good idea, saves you whack loads of interest, even after full comp insurance, 9.9% as opposed to 15% over 5 years is a hell of a saving. When searching for a loan, most banks will quote theyre interest rates as low as possible, this isnt what youll get, they have to factor in risk which is usually about 2%. Yes.... i do work for a bank Some original photos have not been recovered yet.