We have two cars that are being currently financed. We still have a long way to go until they're paid off. =\
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Both of our cars are paid for!
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Own both mine and my DHs cars.
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We both have new cars that are financed. But hubs is at 0% interest and I'm at 1%. We could have paid cash but with such low financing rates we were better off investing our money and making payments from our income.
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I hope we never have two car payments at the same time. And preferably - NO car payments! Right now we own one and finance the other.
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One own one (DH truck is paid off) but we just got mine 2 months ago so we have awhile to pay it off!
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We have one car which we lease! At some point we will purchase a second car but until then, it's the long term rental for us
I just like getting a brand new car every couple of years way too much.
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@mamamoose: That's exactly what we did too! My husband crunched the #s and said it's better to put our money in other financial investments since the interest rate on both cars was so low. Life with a finance guy sometimes has its perks. haha
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We own one, my parents bought it for me ten years ago for my first car. We also just bought a van but make payments for that.
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We own both of our cars and paid cash for them. We don’t plan on ever financing a car. It was rough to see that bulk payment leave our savings when we bought the cars but I like it a lot more than having to worry about a payment every month!
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We own both cars and haven't had a car payment in the last 3+ years. I'm not looking forward to the day when we have to upgrade and start making car payments every month again.
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@banana: us finance people come in handy once in a while ; )
So many people think that having debt is a bad thing. It's only bad if you are buying things you can't afford. It can be a good thing that makes really smart financial sense. They always tell us at my bank "wealthy people borrow money" and it's so true. Financially successful people know how to borrow money from others and make money for themselves by doing it. Some day I'll be one of those rich people right?!?
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We bought DH's car in cash & I have a loan on my car.
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OWN!! I paid it off with this month's paycheck!!
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We currently own both but with LOs arrival are *sigh* considering adding a mini-van to the mix. This would likely mean financing
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We have one car and we finance it. =/
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We're financing our Lancer, but she'll be paid off next September- so happy about it!!! Our plan is to use our tax return next year to pay out whatever principle we have left early, so the car will in all likelihood to paid for in February.
DH thinks we should trade it in for a more family friendly vehicle- but hates vans so we may be financing an SUV sometime after paying out the Lancer.
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We own our cars.
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DH's car is paid off, and I own a little less than 3k on mine. So we are very close to having both our cars paid off!
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We own two cars, both DHs jeep & his chevelle which he only drives in the summer months, my jeep is still being paid for.
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We own both our cars. We're in the market for a new one right now and can't decide if we should buy a used and pay in full or buy a new one w/ 0% financing.
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We lease both cars since we like to have new cars every few years. I can't wait to get my new car, six more months left.
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Just paid DH car and mine will be paid off next year. But I want to get a new car probably within a year of paying off my car.
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My husbands is paid for, mine still has 4 years...UGH!
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We are financing our current vehicle. But, we have since learned the error of our ways and will never buy another car without enough cash to pay for it.
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We did have two cars on financing, but we just paid one off 1.5 years in advance! Now we have the one, which we're aggressively paying down. Even though the interest rates are low, we'd love to have the extra cash flow!
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Hubs' is paid off, but mine is being financed. We're hoping to be able to wait to replace Hubs' until mine is paid off, but it's another 3 years, at least, and Hubs' car is starting to sound like it's on its last leg.
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I was going to pay cash for my car, but 0% financing made me change my plans- 2.5 years to go. DH's car is paid for.
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Finance.
I had to get a new one after I totaled out my PAID FOR car. This is the 1st time I've had a car payment and it upsets me a lot. BUT I had to get it or else walk 30 mins to work.LOL
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we are financing a new car and I don't see how it's that much of a negative thing! like previous posters said, the interest rate is low. we bought a good car that will likely lasts us many, many years. we don't feel the need to upgrade often, so we decided not to lease.
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We've only bought used cars and we pay for them in full.
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@NYCaliMama: Mine is low too. I just hate it because I used to NOT have a payment.LOL
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@MsMamaBear: I agree... any type of monthly payment sucks! I totally understand. I didn't have a car payment for 10 years since we didn't need a car in NYC! It was awesome and a reason why I loved living there so much. We just got our car here in CA so it's new to me too, but we did negotiate a ton at the dealer and put a lot down to minimize monthly payments so I feel okay with the number every month!
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My car is paid off. We're financing my husband's truck. His old truck (not child-friendly) died one day before finding out we were pregnant, so we had to replace it. We paid for 2/3 of the cost and financed the last 1/3.
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own. thankfully since we're young we can still get by with the cars our parents bought us in college. i had the foresight to choose an suv, so it will last us through a couple kids!
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We own both cars outright now, although we financed one. Financing isn't always a bad thing - especially if you can get a very low interest rate. Also, having several different types of open loans on your credit report raises your credit score, which in turn lowers the interest rate you'll pay on other purchases, car insurance, etc.
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We own both! Hooray!! Just last week we bought a 2010 replacement car in cash....gasp. Only 11000 miles so many more years to go but we are going to start saving up for the next one. I still can't believe we did it. I love having no car payment.
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Own DH's, finance mine with less than a year of payments! Though it looks like we are going to switch mine to a SUV and I'll still have payments! :T
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Mine is financed (0% woot!) and DHs is leased. IMO, auto debt is healthy debt, so I'm not to worried about it. DH leases for specific financial reasons, in his career you get a better write off from a lease. Both our vehicles are new, purchased in the last year.
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Two cars and own both.
I just like getting a brand new car every couple of years way too much.
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