Is your car paid off? If so, do you keep it?

Question

and continue to put money when it breaks instead of getting a better one?

Answer 1

Yes. My car is 11 years old has a good engine and I had to get a new clutch; the mechanic said the car is in good shape. Hate the thought of having to put a large amount of money to get it fixed next time it breaks down. Would get a better one, never a new one.

Answer 2

I once bought a car brand new from showroom......the largest waste of money I have ever done. It devalues at such a rate.
And, If a car is breaking before you've paid it off, it must be a bad make of car.
There are better things to go into debt for, unless you almost live in your car like a sales rep or something.

I never pay more than £500 for a car ($1000 at todays rates).
If it lasts 2 years then it's been a good car. Usually, I can get 5 years from such a vehicle.
With fuel so expensive here in UK, you can get a big old luxury vehicle for that money. Say a 1994 BMW 7 series.

Answer 3

Do you or others love having car payments?

The only constant about cars is that they lose value and cost money (with few notable exceptions).

When a car is paid off after 4-5 years, you're in the sweet spot unless it's a lemon, it's not costing you much in repairs and the payments are gone!

My goal is to never have a car loan, lease . . . payment, it sickens me watching all of these people who have payments out-living the cars, but it's a free country and everyone can make these choices.

Answer 4

I have not had a car payment for 20 years. I just sold my truck- paid $800 for it 5 years ago, put an exhaust and a starter on it and sold it for $800 last month. A lot less expense than a monthly car payment. Preventative maintenance is not that expensive.

Answer 5

It's paid off & i'm keeping it for one she's my first care second she's hot to the ladies...finally she's an italian design & a collectable in about another 5 or so years.

Answer 6

Owned ALL my cars and trucks free and clear and drive them till they die, or get impounded.

ADDED:
By the way. I NEVER buy new cars. Always used.

I don't care about impressing anyone with the new fancy "keeping up with the Jonses" cars.

Answer 7

Yes, paid off. Of course I keep it. If I wasn't planning on keeping it after paying if off, I would lease.