Paid off today

I have a pretty good rate and have a decent stack of cc bills that are going from 0% to market rate so I am concentrating on that first. Then never charging on a cc again!

 

Paid off...not like it really matters unless I decide I want something else I won't be upside down.

 

Paid Cash, if you have to finance it you may not be able to afford it, besides it beat the price of a Raptor which was my first choice in a new truck to shake it up with.
Make no mistake the Tacoma is my second choice and I love it as much as it deserves.

The problem for me is aftermarket lift prices approaching 5k and another 2k for tires, so 7k is 17.5% of a 40k vehicle just for suspension and tires...this is approaching the bullshit mark for me. Option 2 spend 1/2 of the max for the lift and your still approaching 10% cost of your vehicle for aftermarket lift, wheels and tires....still BS in my book.

These guys (aftermarket folks) are raking it in hand over fist especially in this first release of the 3rd gen.

 

Owe about 7k. Will pay off in June. Every so often it is good to have 6+ mo. of car payment history on your credit. I learned that the hard way on a house deal a few years back. Was approved for a super low rate, then they told me my 08 Tacoma had only had 5 mo. of pmt history, so "didn't count" as a major payment. Ultimately it didn't affect anything, but figured I might as well get some credit for this one.

 

We put half down and financed the rest. I don't have much credit history so we will keep the loan for about 2 years and then my credit will jump back up to 800+ to buy a house.

 

HA good for you.

We use ONE Visa Rewards card. When I use it (and we use it for everything) I make a bank transfer right then and there to cover on my phone.

They have paid me over $700 last year in rewards ( 1-3% PLUS 75% when I direct deposit as a Platinum Honors customer)....Interest I paid = 0% (maybe $ .50 a month) Thankful for mobile phones and the B of A App that also allows check deposits.

Lots of paid off trucks here.

 

this, i have two 35ish year people at my work that lived by the motto of always pay cash and never have a CC. and guess what, neither can buy a house due to no credit history lol. Myself i have no issues keeping the note going as long as my interest rate is 1.5 or below (which is what all of mine have been)

 

I owe 24k'ish, figures 12 weeks of working straight thru(read 7 days) and it will be paid off.

 

Fred Anderson here also

 

Damn, where was this at? I'm on Johns Island

 

Not paid off and don't care.

 

Paid off my '14 last year. A bunch of cars, all paid off. Now working on the house!!

 

The montly payment is 354 or something like that. We may pay it off after 2 years or we may just save it for the house we are going to buy in the future. Not sure yet. 350 a month for a truck like this is beans. My wife has lots of history but I lived at home through college and only had perfect credit cards and bank accounts. My scored was 820 when we bought it. Our bank approved our loan based on her history and gave us the 1.49% rate based on my score. So it was win win

 

Having a car payment is not necessarily a bad thing (assuming the rate is low). Plus it's a great way to build credit fairly easily.

I heard good advice once about car payments: if you can't pay the vehicle off within 3 years of purchase you have no business buying one.

The real lunacy is when people start buying thousands of dollars in mods before their vehicles are paid off.

 

I must be a psycho then

 

I could put 2000 toward the truck each month but why do that when the payment is 350?

 

I look at it this way: a $20K loan @ 2% interest will cost you ~$350 a month for 5 years (60 months). If you make all those payments for 60 months you'll pay just over $1000 interest, so ~$21K for the life of the loan. If you get 3% you're paying ~$1500 over the life of the loan. I imagine this is chump change to most, but thats a house payment or a vacation to me. Or in truck terms thats a nice suspension or plate bumper...

I'm not knocking car loans, I just saying that (IMO) if you have thousands of dollars to spend on mods it makes more financial sense to pay the vehicle off first so you're not burning money on interest payments.

 

Makes sense but depends what the mod is. I can say the delay wiper mod and Weathertechs were functional every day mods that I did. I probably could make do without a Stormtrooper shift knob on the other hand..

I got 0.9 interest on mine and only financed 10.5k.

 

but then you are stuck driving a stock truck, and well, thats just lame, stock is lame lol
i remember when i bought my STI i reflashed the ecu wile still in the parking lot lol

 

I always paid $100-$150 above the minimum ($450) on my payment each month . A few months ago it hit me that I was REALLY tired of having a car payment and I started throwing $1450/mo into my loan. Gonna be paid off this month! Less than 2.5 years on a 5 year loan. Pretty excited to be done with it. That's money I'll have free now for other things