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Do you take out a car loan?

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    #32
    lomb
    Registered Users Posts: 6,031 ✭✭✭lomb


    Cyrus wrote:
    Why not live in a hut because u cant afford a house?

    People buy nice cars because they love them

    Because a car is a wasting asset and even a porsche is a piece of sh!t of a buy.
    a house, the older it gets the more its worth. the piece of crap townhouses in ranelagh that wouldnt be fit to house a dog are worth 20 porsches. and in 10 years they will probably be worth 30 porsches.

    of course cars make u feel good, but if u put a disproportionate amount of your money into cars u will b an unhappy camper in 15 years or come retirement.


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    #33
    DubTony
    Registered Users Posts: 3,269 ✭✭✭DubTony


    Cyrus wrote:
    Why not live in a hut because u cant afford a house?

    People buy nice cars because they love them


    In 1981 my folks bought a 4 bedroomed detached house in Templeogue for £45,000. You could have bought 2 of those houses for what the top of the range Mercedes was at that time. Today that house is worth €700,000 (£550,000).
    How many new Mercs could you buy for that. And how many 1981 Mercs could you buy for that?

    While I agree that most people borrow to buy a car (most are too expensive to pay cash), it still doesn't make it financially sound.
    If you have to borrow, the credit union is probably the best option, as they actually give you something for your money. But you do have to have a savings record with them before they'll lend.


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