Celebrity Owned Cars – No Car Loan Needed

Dec 4 2009 Everybody loves a nice car, especially celebrities. While most of us need a car loan to purchase one, celebs like Gordon Ramsay seldom do. He most likely didn’t need a car loan to pay for his Ferrari, at least not since he became a famous chef. The rest of us usually need a car loan.

Walking onto a car lot and viewing all those shiny autos makes us wish we had pockets filled with money but that’s not necessary if we can qualify for a car loan. Being able to finance a vehicle through a car loan means we can drive it home right now. But that car loan will require a monthly payment for several years and that includes interest paid on that car loan all the while. Is the vehicle you wish to own worth all that is required with a car loan? Can the interest nearly double the price of the car loan over the payback period? Answers may be yes and no.

A car loan, while necessary, is to be avoided if possible. Don’t get a car loan if it’s possible to save up. Decide if that car is worth the cost of a car loan.

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