Who has their truck Paid off?

I have 11 months left on my 05 Tacoma Pre-Runner Sport

 

Paid it off after 6mths.

 

Join the no debt nation uSA

 

thats why im going to a jc

 

See...This doesn't make sense to me. I can afford my truck...but I don't have 25K liquid to buy it at any given point. Nor do I have the time to be without a vehicle while I save up the money. Because at 500 bones a month- It'd take me 4+ years to save up that kind dough. Instead- I drive my truck now and make payments.

 

I wrote a check!

 

Paid cash.

Way back when I was young and foolish I realized how hard I was working to pay interest on loans. So when I paid off my car loan I kept "paying" the same amount into a savings account. By the time the car crapped out, between trade in and what I had saved I was able to pay cash. Been doing that ever since, and saving about $5-6k per vehicle.

 

Just paid off my 05 last week, waahooooo!!!!!!!!!!!!

 

I agree. I'd like to know how many of these "I only buy things in cash" people paid for their house up front, too.

 

I saved up 17,000. Borrowed 10,000 from bank-4 year loan. Paid it off in 23 months.

 

exact same situation with me.

 

i dont unfortunately but i work at a bank and got 0% interest, and i only owe 12k now.

 

my grandma and grandpa were nice enough to get me this truck. they paid it off before it left the ford lot

 

Just bought my truck a week and a half ago and had to finance it in order to drive it home. Just waiting for a check from my retirement account and then I will pay off the truck (hopefully before the first payment is due). Man that will feel good to finally own a brand new vehicle free and clear.

 

The FJ is though

 

Paid cash for it

 

Good grief. It's just a question that some dude had. Finance = you can't actually afford whatever it is you are buying, hence the reason for financing. If you don't see any point of broadcasting it here, what the crap is suitable to be broadcasted in this entire forum?

 

Or maybe you just don't want to drop $30k all at once. Maybe you want to buy a house too and need to put money down on that. Or remodel the house AND need a new vehicle. Or someone wants to build credit.

Just because people finance doesn't mean they can't afford it. My mom got her Rav4 with 3yrs, 0% financing. Tell me why would she drain $18-$20k out of her accounts all at once when she could do it over 3 years with no interest? Leaving more money on hand for other things. It would be stupid to not do something like that. Unless of course you have, like, $100k in the bank. In which case, it doesn't matter.

 

So you paid cash for your house then?

 

Because the borrower is servant to the lender. No one "needs" a new vehicle. The average vehicle drops 40% of its value in the first 4 years. Therefore if you can't pay cash for a new one, you could pay cash for a used one and have cash left over for remodeling, etc. If you buy a 3-4 year old vehicle with low miles, chances are all the kinks are already worked out from the previous owner taking advantage of the original warranty. And as far as building credit goes, technically no one needs "great" credit. Why? Because if you pay cash for every vehicle and pay cash for everything else, you don't need credit. And as far as houses go, you just find a place that does their own underwriting, and credit is pointless. AND if you have an emergency fund of 3-6 months worth of living expenses, then you shouldn't ever need to take out a loan on unexpected things. Booya.