Did you finance your Delorean?

[Stainless]

"Those who understand interest earn it; those who don't, pay it."
—Unknown

"There is no class of people in the world, who have such good memories as creditors."
—P.T. Barnum

"You don't need no credit card to ride this train."
- Huey Lewis

"A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain."
—Robert Frost

I dreamed of owning a DeLorean since I was a kid. I thought that it was going to be something that I would do after I retired, later on in life. Long story short, I made it a bigger priority and saved, waited, found the right one, and paid for it with cash. Not everyone has the means to do that, but it would be nice if more people in the world had the patience to do that. I look at Dvonk's Obtain-O-Meter in his signature and it seems like that thing hardly moves, but it does. He'll eventually have the cash to buy a nice D and will be able to own it outright, pay less for the car since it will be an interest-free purchase, and he will have the title from day 1. Financing is a necessary evil for some, but I personally prefer debt, if possible.

[thirdmanj]

I'm Not!

"Life of Brian"?

[Dangermouse]

"Life of Brian"?

I'm Brian and so's my wife

[Silverbullet]

Well,...... We ALL Pay to Play, some pay in full, some pay a little at a time. We live in a "I want it now" world, and it works for some and not for others... Only you know how secure your job is, and what your disposable income is... As some have stated the 2 or 3 years having the car, while making payments, was worth the small amount of intrest. They can put time in as a hobby, better than Golf, where you end up with nothing, and some day payments stop.

I have a love for cars, always have, I am a car guy... When I was younger money was tight, as income was less... when older and income is higher, saving and paying cash is nice... But if it fits your budget go get it and enjoy.

Craig

[Mike Z]

I decided in 2010 that I wanted a DeLorean and here I am in 2013 and I still don't have one but I'm working on it. I will be financing because I want a good car from the start and I don't have $25K laying around to blow on a car in one shot. I'm hoping it happens within the next year but I wouldn't be surprised if it ends up being early 2015 (which would still be kinda awesome because of BTTF2)...and I'm saving so I can put down a decent down payment and not have a $400 car payment every month.

When it comes down to it I don't want to save until I'm 40 or 45, I want to drive it and enjoy it while I'm still relatively young.

[thirdmanj]

I decided in 2010 that I wanted a DeLorean and here I am in 2013 and I still don't have one but I'm working on it. I will be financing because I want a good car from the start and I don't have $25K laying around to blow on a car in one shot. I'm hoping it happens within the next year but I wouldn't be surprised if it ends up being early 2015 (which would still be kinda awesome because of BTTF2)...and I'm saving so I can put down a decent down payment and not have a $400 car payment every month.

When it comes down to it I don't want to save until I'm 40 or 45, I want to drive it and enjoy it while I'm still relatively young.

40-45 is still pretty young, old man.

Well,...... We ALL Pay to Play, some pay in full, some pay a little at a time. We live in a "I want it now" world...

We've always "wanted it now" the difference these days is that for the most part we can. Them internets have sped things up and as a result almost everything is faster as a by product. As a species, we're never content with the status quo.

[Silverbullet]

For the Payment people FYI $25,000 financed at 8% (which is low for a used 30 year old car) for 48 months is $610.00 a month which is $4280 in intrest. At 10% it is over $5400.

Craig

[DavidProehl]

Them internets have sped things up and as a result almost everything is faster as a by product.

I thought it was fast food and MTV that caused the I want it now mentality...oh wait, no, that is just what we blamed it on in the 80s and 90s.

[about2livethedream]

Just to clarify, I am looking at this as a hobby and somewhat of an investment. It would not be my daily driver, as my wife and I both have fairly new dependable vehicles that are paid off. Wanted to clarify those points...thanks for all the different thoughts. Very interesting.

[Jonathan]

IMG_0270.jpg

This won't work for everyone of course, but back in 2005, I gave myself some extra motivation for saving up to buy the DeLorean.

And it was related to quitting smoking.

I smoked like a chimney for years, say from age 15 to 25 roughly. About half a pack per day on average. I knew all the reasons why I needed to quit, and yet it remained super difficult to do so.

I had gotten the idea of actually getting a DeLorean at some point back then, perhaps related to the Internet letting you look things up you didn't have the opportunity to in the past. I knew I wanted to own a DeLorean at some point and I knew I didn't want to smoke the rest of my life. When smokes in Canada went over $10 per pack, I made myself this little pickle jar you see in the photo.

The two labels were "DeLorean Fund" and a (poor artistic attempt of) the no smoking symbol. Each day from October 16, 2005 onwards I put $5 in it, as that was about what smoking was costing me. Every month I then took the $150 or so that was in it and put it into a savings account at the bank I had opened specifically for that purpose.

Now, by no means did this magically add up to the $25k+ that would be needed when I bought my car in 2007, but it definitely got me started. I think I actually spent a chunk of the savings on paving my driveway, lol.

It is kind of that "latte a day" idea to saving money. The bonus was it got me through the tough first part of quitting smoking. And 3937 is sitting in the garage at least partly because of that