full owner here.

...Paid in full...

trade in took me into the low 20k range then paid off within a year.
Turbo I bought on CC then paid off in 3 months. :driving:

Nobody does. Check your vehicle title and it says "abstract". The government owns everyones vehicles. :D

This is why GAP and free new car replacement (total the car within 3 years and they buy you a brand new one) are a "must" for me on my insurance policy. Also got GAP through my financing agency incase, God forbid, something with the insurance company goes wrong somehow.

I had a teacher in high school who's son had a new (then) '03 Cobra, and the insurance lapsed on Friday, he was going to re-up his policy on Monday. Car was hit Saturday (hit/run). Luckily, only $1200 or so in damage, but it's a good lesson. GAP, GAP, and more GAP, if you are anywhere near even/upside down. Even if not. GAP. It's cheap.

/\ +1 to both these gents replies. :tup:

lol, i feel broke with all these ppl throwin cash at the dealers like they grow it in their back yard.

Im not upside down at all...and its no where near paid off. Somewhere in the middle.

for those who are upside down, you need to fix that ASAP. it is not a good position to be in at all.

It's not a bad one either, really, if you like the car and plan on keeping it and were smart enough to get GAP for it.

The money was obviously less important to the purchaser than the joy of owning the car. What someone else thinks the car is worth should not have any bearing on issues unless the owner decides they don't like the car anymore, or were stupid/ignorant and didn't buy GAP and get in a wreck.

Yes for GAP!

I see what your saying, i personally wont do it again.

I had it for my last car and i have it for the Z. My last car was hit by someone doing something really stupid and GAP didnt cover outside the U.S. even though im in a U.S. territory...sucks for me right. Its all good, free up my credit to purchase this car because I was upside down on the last car. NEVER will i do that again, roll over on a trade in is a BI@H.

cash here also

The wife owns ours.

I own all five of my Z cars but I had to wait a long time until I could afford any of them - I've wanted a new Z car for 21 years but couldn't afford it so I held out until I could.

The wife really owns everything doesn't she? Paid for or not!

Not at my house. I have both Fobs.

Paid for Z in full, and saved $7400 off sticker. I even retained my social security number, and refused to give it to dealership.

Nice.

Not sure whether to :icon18: or :shakes head:.

Paid off within a year.

Mine is paid in full xP

I pulled out my checkbook out and paid in full before I drove off the lot.

Why?

Because:



I got cash in f**k you quantity.

Paid in full, playa.

I am 29.

Paid for my Koenigsegg in cash
Financed the Z.
:happydance:

by the look of most of the answers meaning paid cash,or paid off.

question should be what is the average yearly income of the forum members.....

oh paid half down needed the good payment history on credit report...

and i do believe in gap insurance... it is the only extra i will go for with the finance manager. the rest of the crap they can keep its just a rip off

^^More like net worth?

Is it an evil practice?

I can buy one outright by December if I start saving right now, but because I work overseas as a defense contractor, it is damn near impossible to get leave that time of year because everybody & their mother wants to be home for the holidays.

I'm also looking at boosting my credit scores (just not a huge credit user) to try & get out of this "starter home" & into a nicer house in a nicer neighborhood, so a friend of suggested that instead of buying outright, finance a portion of it, & pay it off over the next 12 months which should boost my scores.

If I go that route, I'll also have the time & $$ handy to get the clear bra installed, some new headlights (love those 180 halo mods for it), rear fog light, & some Michelin Sport A/S+ (it will be winter after all). Downside, it will be sitting in the garage for about a year before I'm home for good, & thats a year gone from the warranty.

Just don't buy a 2011, buy a 2012 or 2013. Nissan might come out with a new shade of gray that is more to your liking.

If you get a hell of an interest rate, then you should finance, otherwise pay it in full if you can.

I bank with USAA (not a real well known bank outside of the military), & they quoted 3.39 to 3.79 for a 48 month loan on 18K.

I'm not a fan of gray at all. Pearl white for me, with red next. Might even consider Chicane Yellow if it ever became available again.

Don't own it yet but it is my ONLY debt. Paid for house and no other debt of any kind. :happydance:

Ditto here! :tup:

cash

exactly. im relatively young, so while i could've paid it off in cash, i wrote a check for half and financed the rest at 2%. i figured...i need some sort of loan besides a few credit cards on my credit history. besides, in the end im paying one car payment's worth of interest and its only been 6 months. i'll have the loan payed off shortly!

Cash as bought from US so had no other option, else they wouldnt ship it lol

Wrote a check for mine. Paid in full. The only advantage to being over 50 is you've been around long enough to gather some cash in the bank...

If you can get good rates, paying in cash is just...wasteful.

I actually just refi'd my Z, just because I could get a lower rate. Low enough to make me actually cash out $5k of what I'd already paid. My loan is now more $5k higher, and a couple months longer...but my payments are the same and my $5k check should arrive today.

I mean, come on...if you want to give me cheap loans, I'll take it every day of the week. At the very least, even if I were horrible with money, I'd put that $5k towards my mortgage, which has a higher interest rate of 3.75 fixed.

I understand the no debt mentatily, I used to be a cash only type of guy, but I learned something a while ago. Not all debt is bad. Certain types of debt can give you access to capital, which is how business (and you) can make money. I'm actually getting ready to take a $15k cash advance on a credit card. I'l pay 10% interest for two days ($4-$5) while I balance transfer it with no fee to a 0% APR card for a year. $15k for one year, costs me $4...yes please. And if any of you are wondering, cash advance is from PSECU, and BT deal is from NFCU. I love credit unions!

It really depends on if you need the money. If you write a check and it empties your bank account then it's a bad idea. If you write a check and don't notice the difference in your checking account then it's a good idea. :happydance:

Ouch!!!
 

I hope you don't live in the CT area....I sure wouldn't want Dr Evil examining me especially when checking the ole prostate! Sounds like you have an *** to grind! :nutswinger:

33 years old...payed in cash.

Not everyone falls in the same boat of needing to earn good credit. For those of us with excellent credit, it makes more financial sense to pay in cash and not throw money away on interest.

Not about earning credit. It's about earning money.

How do you think banks make money? They borrow it from you and pay you whatever..1-4% interest, depending on whether it's in your checking, savings, CD, etc... Then they loan it back out at a higher rate, or actually buy investments with larger returns.

I'd rather have 35k invested and making me money than a title to a depreciating asset.

Assuming you have to use the 35K to payoff the loan, aren't you making a decreasing difference? How much can you actually make in the end?

And if you don't use the 35K to payoff the loan, you have to take into account that extra money you are putting into the loan instead of saving - how much would you have made saving that payment?