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Are car payments a way of life for you?

Do you buy new cars every few years? Do you struggle because of it? I'm just curious, because every time a money debate breaks out on CM, people are always complaining about having to pay for the car, and how they never have money for anything else...
I personally loathe car payments. I never want another one again. My car isn't fabulous, but it runs. It's not an accessory for us - it's a tool for our lifestyle. How about you?

Answer Question

Asked by Anonymous at 4:11 PM on Oct. 19, 2009 in Money & Work

Answers (16)
  • We have only ever had car payments for the last three years and we will be paid off with tax returns. When my husband and I started dating, he had just paid cash for his car. We drove that car for 4 years before we decided that we needed something with more room and something with 4 wheel drive for the winters. We don't pay that much a month in comparison to some others, and after this is paid off, we are keeping this one until we can't drive it anymore. I love the car we have now and it works well for us.

    Answer by Mom1Stepmom1 at 4:14 PM on Oct. 19, 2009

  • My car is paid off and I havent hada payment for 2 1/2 yrs... I hate car pmyts too and will drive this until it becomes far I've had it 7 yrs and it was used with low miles when i got it. Gotta love a Honda they last a long time!!

    Answer by ria7 at 4:21 PM on Oct. 19, 2009

  • My car isn't anything special, but it runs well and is paid off. It's a 2003 Chevy Cavalier, bought new. It was paid off this past May and while I want a new one now and then - its just not worth it. The payment was $261 and I'm glad to have that money back in my pocket each month.

    Answer by Ginger0104 at 4:22 PM on Oct. 19, 2009

  • We have been blessed to have paid off many of vehicles and just got my husband and new truck and I am getting ready to purchase a Hummer. Have we ever struggled with cars payments? Do we struggle today, no. Complaining about it is one things, doing something about it is another. We started home business to help pay the bills. Not only does that business pay for the car notes but we are able to write it off on our taxes every year.

    So I wouldn't let it bother me about people complaining. We all have a choice to make it better.
    To each his own.


    Answer by usanamama at 4:27 PM on Oct. 19, 2009

  • Nope. Car is paid off and I don't ever intend on another payment in my lifetime!

    Answer by Anonymous at 4:29 PM on Oct. 19, 2009

  • I'm with anon :29

    I've always been against car payments simply because cars go down in value like nothing else. So yeah, we pay cash for our cars. NOW we're trying to move that philosophy over to other areas of our lives-- like college for example.

    I don't think debt, or debt payments have to be a way of life.

    Answer by Anonymous at 4:32 PM on Oct. 19, 2009

  • I do have a car payment but plan on paying this car off and keeping it for a long time. Its 3 years old and only has 8000 miles on it. It should last a while!

    Answer by Anonymous at 5:42 PM on Oct. 19, 2009

  • I do have a car payment, and have for a long time. We have previously owned a Ford Taurus, a Saturn SL2, and a Dodge Neon. Right now we are paying off our 2006 Buick Rendezvous, and will have that paid off in January 2011. After that, we will keep that car and hubby will get his motorcycle but the $626 per month car payment will be gone!

    Answer by AprilDJC at 6:42 PM on Oct. 19, 2009

  • I just payed my car off. I never have a large enough chunk of money to just buy a car outright and most people I know who go that route have to buy a new one every couple of years anyway because their beater crapped the bed or they are paying out the a** to have it fixed all the time. I think it just depends where you want your money to go. I got my car almost brand new and have had it for 5 years now. I paid it off last month and I've never had to fix it. My mom buys used cars outright and she's been through two since I bought my car and she's put thousands into them to fix them.

    Answer by Anonymous at 7:20 PM on Oct. 19, 2009

  • we'd paid off everything years ago, and decided it was time to upgrade for the kids and what we need so bought a new truck.

    we haven't had a payment in years.....aside from the mortgage.

    Answer by hypermamaz at 7:59 PM on Oct. 19, 2009

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