Originally Posted by alaxfire

I hear those are kinda like house mortgages, you give someone a certain amount every month so you can stay dry, however in this case, it's so you don't have to take taxi's.

Myself, I have not made any car payments since 1993.
Last 2 vehicles were cash transactions, and the one before that I borrowed the money from myself and paid it back with interest to myself ( good ole 401K ).