Two years ago this week. I bought a new to use, but used Chysler Mini-van . I don't believe in buying brand new cars. It is just not a good financial decision long term. We still have 12 more months on the loan. While I am not crazy about debt, a car loan of $200 or so is reasonable in my opinion for 3 years.
During our car shopping experience we even heard about ballon loan for a car. Yikes!
I don't do a lot of driving me a work at home mom- mostly local. I have put on 15k miles in these past two years-only about 42k on it. It also go stolen for a joy ride, but luckily we found it in good condition back. It is a 2001 and I hope to have it atleast 7-8 more years on it.
Once this our mini-van is paid off early next year, we are hoping to replace our 1996 Dodge caravan that we have had since 1999. And it will be probably with a 3 year loan.