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poll: who owns your car? you? or the bank?

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Sprucemoose:
Had a loan, paid it off, own it and will drive it until it costs more to fix the car than the car is worth.

RecycledPast:
I'm not a "car" person so I've never cared what I drove, as long as it worked (and had a great stereo).
My 1st 6 vehicles were paid for in cash.
The other two were bought with loans that have been paid off early.

86 Subaru wagon - Free
Monte carlo - $50
Tempo - $100
Ford Escort - $600
90 Suzuki Katana (motorcycle) - $1000
93 Hyundai accent - $2000

02 Saturn SL2 - $8000
02 Honda Shadow 1100 - $8400

But it's time to get a new "Family" vehicle so I'll probably spend more on this 1 car then all mine combined and take out a nice fat loan.  I need to do my part to help the economy...

Jdurg:

--- Quote from: Zero_Hour on February 01, 2008, 09:53:32 am ---You forgot the Lease option, which always struck me as an odd way to obtain a vehicle, but obviously it appeals to someone.



--- End quote ---

A lease isn't a bad option if you are someone who doesn't plan on keeping the car long enough to pay off the loan, and you don't drive from here to timbuk 2 every weekend.  For many people it's an appealing option for getting a new car every few years.

shardian:

--- Quote from: Jdurg on February 01, 2008, 10:27:34 am ---
A lease isn't a bad option if you are someone who doesn't plan on keeping the car long enough to pay off the loan, and you don't drive from here to timbuk 2 every weekend.  For many people it's an appealing option for getting a new car every few years.

--- End quote ---

Yeah, nothing like paying a premium car "payment" every month, being liable for damage or extra miles, paying a "down payment", even though you are not buying. And lastly, signing a contract which results in a sizeable penalty if you need to get out of it.

The only people who should even remotely consider a lease are those who have way too much money, and want to just pay their large sums to not have to worry about anything car-wise.

One of my wife's high school classmates has leased cars since she graduated H.S. All beause she likes to get new cars every 2 years. She thinks she gets a great deal by paying her $250-$300 a month for a frikkin Chevy Cavalier. And she wonders why she is dead broke and massively in debt?

ChadTower:

I know quite a few people who are only here in the country for 2-3 years at a time.  A lease is perfect for them - no need to worry about selling the car when leaving.

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