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View Poll Results: What best describes how you paid for cars
Paid cash every time 43 41.35%
Financed every time 11 10.58%
Paid cash for some, financed some 46 44.23%
Bought a used car every time 8 7.69%
Bought a new car every time 19 18.27%
Bought some cars new, bought some cars used 35 33.65%
Multiple Choice Poll. Voters: 104. You may not vote on this poll

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Cars- some questions for you
Old 02-03-2010, 01:20 PM   #1
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Cars- some questions for you

I am working out budget to get wife the car she wants (Honda Pilot). Curious for those working and those retired- do you finance cars or pay cash, and do you buy new or used?

Comment if needed.

Thank you in advance for replies
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Old 02-03-2010, 01:24 PM   #2
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Try to pay cash, but when they offer 0% loan for same price as cash, we do that.
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Old 02-03-2010, 01:25 PM   #3
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Paid Cash, we have paid cash for our cars since 1983 when we paid off our car. I read somewhere that you should not finance a depreciating asset. Just a footnote, we bought our Pilot three years ago. At the time the two wheel drive model had cylinder cutoff. It seems like most of the time the car is running on three cylinders rather than 6. We got 25 mpg at 80 miles an hour average speed crossing west Texas.
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Old 02-03-2010, 01:28 PM   #4
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We buy new and pay cash unless we can find really, really cheap financing. We are still working and usually use bonus money to buy our cars.
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Old 02-03-2010, 01:42 PM   #5
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When working, we usually financed (and paid off early); but we paid cash for the car we bought after retirement.
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Old 02-03-2010, 01:44 PM   #6
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In the past we've financed. As of now, barring calamity we're to the point now where we can pay cash in the future.
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Old 02-03-2010, 01:46 PM   #7
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We paid cash for our last new car, and intend to do so again when we buy our next new car. We financed 2 new cars when we were younger, but probably won't do that again unless we get a great rate. The used cars we've purchased have always been bought with cash. DW & I are both still working.
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Old 02-03-2010, 01:50 PM   #8
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Pay cash, unless we can get %1 or 0% financing.
We also buy new, although slightly used is probably the financially smarter way to go.
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Old 02-03-2010, 01:52 PM   #9
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Since there was not time frame...

Bought some used, bought some used

Financed some, paid cash for some...


The one we just purchased... we financed... only because I was recently married and we are buying it from 'our' cash... and 'we' don't have any

Hopefully, the wife can get into the LBYMs more... I thought she was, but seems it was her cashflow that limited her spending..
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Old 02-03-2010, 01:55 PM   #10
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It's important to keep in mind that dirt-cheap dealer financing often comes at the expense of losing a rebate or other cash back promotion. If that's not the case, by all means use the cheap financing (but if you can afford to pay cash, put that money aside and use it to make the payments). But if it is the case, its probably better to take the cash incentives.
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Old 02-03-2010, 01:57 PM   #11
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Excellent point Ziggy!
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Old 02-03-2010, 02:14 PM   #12
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Buy used and pay cash.

I get a kick out of dressing down and haggling over price, while refusing to discuss loan options until it is agreed on.

"We don't need a loan. We'll be paying in cash." The look on the salespersons face is priceless!
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Old 02-03-2010, 02:18 PM   #13
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Quote:
Originally Posted by Keim View Post
Buy used and pay cash.
Thee and me both, though I don't haggle much and have only dealt with private party sellers.
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Old 02-03-2010, 02:23 PM   #14
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Used and cash club too.
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Old 02-03-2010, 02:30 PM   #15
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In the past we've financed, but that was when there really wasn't an option. We kept those two for 14 and 18 years. The last two we paid cash for and plan to keep "forever" while planning on paying cash for the next vehicle purchases many years from now.
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Old 02-03-2010, 02:43 PM   #16
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Over the years I've had 5 new cars and 7 used. I financed all but the current new car and two used, one that cost $50 and one that was free. I used a HELOC for most after they took the interest deduction away. I will pay cash from now on and probably buy slightly used.
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Old 02-03-2010, 02:47 PM   #17
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I was married from 1975-1998. During that time my ex almost always took out loans to finance the cars that we bought, which were usually new except for one dog of a Plymouth Acclaim which was used and one very old Buick for me that we bought for $400 cash when we were newlyweds.

Since 1998, I have only bought new cars and only in cash. So, this was the basis for my votes.
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Old 02-03-2010, 02:56 PM   #18
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In past had paid cash and brand new, but in the future think I'll pay cash and get lightly used. That is, after the one I own now goes to car heaven (or car h*ll ).
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Old 02-03-2010, 03:13 PM   #19
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Always paid cash which meant some clunkers in the early years.

There was one time back in '86 when I just couldn't get any more off the car we wanted (a demo car, already discounted) and they were offering 0% financing so we just used the cash to make the payments. For this poll I counted that as paying in cash as we had saved the money and fully intended to pay cash.
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Old 02-03-2010, 03:47 PM   #20
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prior to 1992 - all used, all cash
1992 - new, financed approx 2/3 total cost
2004 - used 2002 model, financed 1/4 total cost
2005 - new midlife crisis car , all cash
Nothing purchased since 2005
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