I refinanced my home and pulled out enough equity to buy my MINI outright. Since the interest rate on my refi was lower than my previous home loan, my house payments are less.

Now any interest I pay is only associated with the house payment and is tax deductible.

 

:impatient :impatient :impatient :impatient :impatient :impatient :impatient It makes absolutely no difference to me cause it's not a car that depreciates in value that quickly anyway. :impatient and putting a car loan into the home loan... to me, that's just as having a loan...just another way to get it out of the
spouse radar. smart way though, but still the same to me.

 

I see no point in paying more for the car than the sale price if at all possible. Interest just adds more to the price for which you receive nothing but a bill each month.

Steve

 

unless you one of the 90% of the population that aren't in the position to pay cash.

 

Sorry, I only meant if one had a choice of getting a loan or buying outright, I would choose buying outright. There are a lot of other factors to consider, also, I am sure.

Steve

 

I dont want this to turn into another finance thread....If you own it tell us your story.

 

Picked up "Jenks" on Friday and paid cash for him.....

 

I sent the full check to Westchester mini back in 7/02, remember Mini Queen ? They shipped me a car via Intercity transport. Husband and wife driving team let me have their cell number so we could call for daily posistions and add push pins to the map . Ya we were nuts back then LOL . I had them deleiver it to the set of CSI where I was working. They were fans of the show so I had them stay and see some of the filming and meet the cast. Marg Helgenburg ( kathryn on CSI vegas ) was the first woman to sit in my car and my wife doesn't let me forget it

Randy
M7 Tuning

 

I bet!

 

Is your car modded at all?

 

No....Nor will it be until the warranty expiration

Thats a cool story....too bad they didn't decide to use it in the show.

 

ferris bueller, you're my hero....damn, if that's not good karma, i don't know what is.

anyways, my mini arrived in feb. '04, paid it off about three weeks ago, received the title last week...

 

Yeh, by that time us modders will be on our next projects.

 

Actually his car was in CSI. Not only was it in the show, but it was the crime scene!

 

Yeah, mine is going to transform from a car to space-shuttle (I told the same thing to a friend of mine today and he said "You gotta be careful, we don't want you in million pieces all over Texas, what a jerk ).

 

Hey Randy, wasn't the wife of the driving team the FIRST WOMAN in your car, no?

 

In response Kenchan - I, for one enjoy this thread very much. It helps me to see some of the ways people chose to pay for their unique/beloved vehicle.

I'm not a "car person", so a lot of mods and other car things go over my head completely. I read all the posts and getting an anthropological feel of how people acquire a costly piece of machinery.

It surprises me, actually, to see a good number of people bought it out right. Good for you!

 

Finally, all paid off.

Yes, I own my MINI !

 

Bought my Mini with the proceeds of the sale of my wifes 2006 Toyota RAV4 and some cash from an investment account right before the stock market tanked. That turned out to be the best move I could have made. I would have lost almost 30% of the amount I took out of the account if I had left it there.

 

02 R50 bought new May 31
02 R53 bought used Oct 06
87 Classic Mini bought Sept 08

Paid 'cash' for all. The bad news is they're all off the road for the winter.

 

My 2005 MCS was bought new in March 2005 and fully paid off in May 2007. It is free and clear.

My Clubman S was bought new February 2008 and I only have another year and a half before it is fully paid off. I put down $13,000 cash and finanaced the rest.

The 2002 R50 Cooper CVT before the Clubman, was bought brand new August 2002, paid off in full June 2003 and finally sold February 2008.

 

got mine last october

made one payment.. in full. done.

i hate car payments.
i save 500 per month in a 'mad money' car fund.. just buy cars with that money.. good savings for emergency stuff too.. but always enough to buy a car or toy

 

I loath car payment as well. Traded in my Caddy CTS back in July and paid the difference cash for my 06 MCS.

 

Yes. It was paid for the day I got it.

 

On March 3rd, 2002, thirtyseven minutes after I first laid eyes upon it, two hours after the dealership opened it's doors for the Grand Opening, I owned my MINI lock, stock and barrel.
I loves it, I does. My precious it is. Mine it is, all mine.