We went car shopping today for a new car. Salesman asked what kind of financing we were thinking about And I said “We aren’t financing” he looked shocked. We live in an upper middle class area so I’m surprised he was surprised.
How do most of you pay for cars? How long do you keep them. We keep our ten years and start saving as soon as we buy one for the next one.
Pay cash and drive them 12+ years.
I kept one for 17 years.
buy late model used and keep for 7-10 years. Financed for 2-3 years once upon a time. Paid cash for last one but still late model used over new. It’s a personal decision but I’m fine driving someone else’s car when they took the initial hit on depreciation.
It depends. If they offer zero percent financing then we finance it. If they don’t then we pay cash.
Pay cash, buy slightly used (under 25,000 miles).
Buy used, keep a long time, pay cash.
I always negotiate the best price first before discussing financing or not. Usually pay cash but did financing one time because it was 1% and I could do better investing. I’m another who drives my cars for a long time.
Cash, and keep forever. (OK, not forever, but a really long time.) Still consider my 2013 to be my ‘new’ car. Children drive my 2000.
Leasing is extremely common among friends as many people want the bells & whistles that come with a new car. The past pace of technological change may affect how long I keep my ‘new’ car.
We save money and then we buy a car. Dealerships make more money on financing and warranties than on car sales.
Cash.
My understanding is that dealerships make a lot of money off warranty work as well.
We recommend buying new with cash payment and using them for upto 8-10 years. If you don’t have cash and 0% financing is available, finance most basic economy car and pay off as soon as you can.
Our garage dwellers are 17, 11, and 8 years old. I do not look forward to buying a new one. 
We usually negotiate cash price, then go for a 0% finance.
I’ve been paying cash and keeping the cars 10-12 years, but I’ll probably switch to leasing on the next car.
I have always leased my cars. I love new gadgets.
We took a car loan on my Volvo…but it’s the first loan we have taken on a car in a LONG time. We usually pay cash. Actually we have purchased two cars since that Volvo…and paid cash for both.
We are in the market for one now…and will pay cash.
The Volvo had 0% financing.
we can’t afford cash, but we put down as much as we’re able, and have never bought new. We only finance 36 months, never longer, then drive the car until it dies. S1 got handed down the oldest, S2 will soon inherit my 100K Honda and we’ll buy something “new”. This is the first time for a car post-tuition saving so we may come close to cash. Or, we’ll get a new roof for the house. There’s just never enough money to go around 
Shock, or feigned shock? Dealers do indeed make money off of financing.
They make money off of,the financing…but they usually will give you a better price for a cash deal…at least that has been our experience.
And if you go the second to,the last day of,the month…your cash deal will clear and help them make the quota for that month. We got $1000 off our last car because we were willing to close the deal that day…the last day of the month.
That’s why you negotiate a ca$$$h price first, and then hit them on the noggin with your preapproved 0% finance from your CU. 
With 0%, you put down as little as possible - $0.00