Always buy second hand as I can't afford to buy new

I use the 'discount for cash' method like you Heather but ultimately end up paying by credit card (specially negotiated limit with them for a limited period) because the garage doesn't want to have to bank the cash and I'm protected under the credit card T's & C's

Like others I have a mortgage - but it's saving me £500 per month on renting.....

Al

Really? My rent is saving me about £700 in mortgage payments.

Lol, same.

My rent is very cheap (for a shared house) and I get bills included.

The cheapest mortgage is going to cost me in excess of £600 a month (almost twice my rent) and that isn't including any bills.

My current car (new second hand – i.e. only 18 months old when bought it) I managed to pay cash as I had sold my house so used some of the equity

When I need to replace this car I will probably have to get a loan as no car, no work. In an ideal world I will have saved enough money but at the moment extra cash is being used to overpay the mortgage.

While it’s great if you don’t have to borrow so long as it’s within your means then there is nothing wrong with it.

Personally I prefer to save up and then pay for something for a couple of reasons

It keeps my regular outgoings down

If it’s something Teccy (as it often is) by the time I have saved I can get, for the same money, something bigger (or smaller), faster etc etc

All the time I am saving I can do research which for me is half the fun

Sometimes by the time I have saved I no longer want “X” so I have saved myself an unnecessary purchase