Logged onto Toyota Financial for the FINAL time

Ahhhh, feels good. Paid off 5 year loan in just under 2.5 years. Truck just passed 50k miles, and all else being equal hope to have many years of loan-free driving.... I bought the truck the "wrong" way, at least for me (financed 25k of it) but I learned from that and paid it off as aggressively as I could the last year.

 

Congrats. I liked keeping tabs on that club Toyota financial webpage.

Ended up paying under 300$ in interest during my loan

Never again!

 

Congrats dude!

 

Congrats

 

Congrats! It's was one of the best feelings to pay off my truck.


I only had 2 truck payments however. But still getting that title in my hands felt good.

 

Congrats!!!! I'm in a similar boat as you were but I wanted a low mileage, newer used truck so that it will hopefully last me many years to come vs a high mileage cheaper truck where issues may start to crop up.

I can't wait until I have mine paid off as well!!

 

Now take what would be you truck payment and put it towards principal each month on your mortgage.

I paid off last home 17yrs ahead of schedule. Sold and borrowed for our 2nd home (obv niceer and a lil bigger), and am on track to pay that loan approx 20yrs early.

Owning outright is baller. To each his own tho. I have had intense debates with friends that are successful and refuse to pay a dollar over monthly payment on loans with 4% or lower interest. "Why would I accelerate a payoff that is essentially financed for free?"

I don't try anymore to explain it...

Big congrats!

 

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Not a homeowner (in Bay Area, cost prohibitive) but yea, money I was throwing at my truck is now going to go to savings to be used for whatever is appropriate going forward. I agree, owning outright is "baller". I hated being stuck with a loan.

 

Interest expense is effectively even less after you take into consideration the mortgage writeoff! Just saying ha.

But ya, would be nice not to have to make that mortgage payment ever month though.

 

Congrats on paying the truck of early, I am on the same schedule, took a 5 year loan and should finish up a little past 2.5 years.

 

Congrats man, hopefully it will be a few years before ya have to replace it.

 

Daaaamn I'm jealous. I can't wait to perform the monthly payment delete mod. Congrats!

 

Welcome to the club!

 

I do agree with you but when rates are low you should be buying with cheap money within your means. I have a 15 yr mortgage @ 3.25 and the truck is @ 1.49. I don't feel the need to hurry up with rates like these.

@Shwaa congrats!!

 

And that's the never ending debate. Enter in the "if I invest X and can get X why payoff a 4% loan, etc etc etc "

My response is simple, show me a human that has "always made 10% or more on their money and I will show you a liar".

It's obv 100% each person's opinion and not worth an argument. Factors of age, income etc huge players in a scenario. I wish everyone financial success and truly hope there is not a crash in the last 10yrs at which they are contributing to a 70% + stock driven portfolio.

 

That's good!

Congrat OP!

 

Congrats! Hoping to join the club about this time next year. Got a little too excited with all the money I was making out of college and bought my truck instead of waiting till after I paid off my student loans. Now paying for both each month and learning from my mistake.

 

Nice work. I'm currently doing the same. 7 months in and about 50% paid off. On a side note, I'm not sure how the trucks can be so awesome, but the dealers are so terrible.

 

Paying cash for a brand new truck is baller, but paying it off is cool, too.

Congrats, OP!