Paid Off

I could pay mine off sooner but I got 0.9 through Toyota on mine..ended up $201 for 60 so not a worry

 

It feels good to pay it off, good job man

 

Paid mine off back in August. Got a boat payment to replace it.

 

Nothing drives like "paid off!"

 

Like your style OP

 

Congrats to the OP! Paid my last payment at beginning of the month. I can't wait till next month to learn the feeling of not having to make a payment!

 

it be MOD time!!

 

Money for mods. Congrats OP!

 

This is the greatest rap song ive ever heard, and will likely never be listened to by kids that idolize rap music.

 

7 year payment free.

 

Sink it into a savings account and pay cash next time around. You'll come out ahead in the long run.

 

Congrats dude! Take the same payments and save/invest them for your next vehicle with the goal of never having a payment again.

 

Nice! I paid off my truck over a year early about 2 months ago. Starting to look like the extra cash is going to go towards a new head gasket though.

 

Actually you should now continue to make the payment. To yourself. In a special account.

When the 5 years or so rolls around, you can pay cash for the new ride. Or just buy a newer used ride, pay cash and have instant mod cash for it.

Debt free is the best position to be in. Gives you freedom for all kinds of things and a bit less tension over the cycles of the economy/job market.

 

I'll be the wet blanket:

Take that extra money and increase your 401 contribution, or start a Roth IRA if you don't have access to a 401k. That's what I did last year when I paid mine off. I went from a $600/month car payment (doubled my payments to pay the loan off in half the time) to contributing $7200/year to my retirement on top of my existing contributions.

 

Congrats, I usually try to pay mine off in 3 or so years, feels great not having that payment!

 

All good advice here. I'll be using the cash to pay down another debt.
Debt free is nice but I wouldn't pay cash for a truck when the interest rates are only .99 like that one was. I can make a much better return. Just my strategy.

 

Color me skeptical. I don't understand a businessman who would take a low interest rate over a cash deal at a lower price. In other words, I would expect a cash price to be lower than one at a low interest rate.

 

Dealerships make a lot of money with in house financing. More so over the life of a typical loan than what they would get by a straight cash payoff. I offered cash for my truck expecting to get a better deal, only to get laughed at. I paid the same sticker price as the next schmuck. He/she just had payments and paid more via interest.

 

thru good planning and a crap load of hours,i managed to pay my 09 off.made like 14 notes and wrote em a big check.just recently got a little car for work though,so I do have a note now.