Who has their truck Paid off?

my goal next summer, pay off my truck!

 

Paid mine off last month!

 

Congrats!

 

Payment delete mod is the best mod...just sayin'

 

Single owner 2009 bought new, paid off since day one by mommy and daddy and not ashamed to admit it. They made a deal with my brother and I when we each started high school- if we got full rides to college, we could use the money they saved for college on a new ride. He chose an F150 and no longer has it. I chose a Tacoma and don’t see parting ways for a loooong time haha.

I’m fortunate and grateful to have a family that instilled good money habits and the power of cash, and I will do the same for my family.

 

Saved up two years, bought truck in cash. Having cash on hand really gets you a good deal if you are dealing with private party.

 

smart.. really smart.

i have a friend with a crushing car payment. he keeps spending money, (Credit card) on modifying his truck. it's hard to watch, but he is a grown man...

i told him to pay it off first, at a bare minimum. he teases me with my stock 2006 truck and calls it the "old man" truck....

kids these days! . i love the guy.

 

I know right... But I see those kinds of rigs getting towed every time oil prices drop in Texas

 

Everyone has gotta learn on their own.

I made my fair share of truck mistakes, luckily they were all paid for in cash, but they were still mistakes nonetheless.

I wish that money that I did piss away was in my IRA instead lol but you don't know that until you grow up. Unfortunately some people don't grow up until they want to retire and realize they can't, or want to buy a home and realize they can't.

All you can do is offer your opinion and walk away lol.

I will say I'm happy for guys like you who speak up and say something and lead by example. Having those folks around me helped me be in the position I am today. More is caught than taught. When all the folks I knew were well off never had car payments and rarely bought new cars, I finally caught up to maybe there is a trend here I should be mimicking if I want to be like these people lol

 

Me too bud. Yup. Me too.

 

TRUE story. i was working as a field engineer on a bridge. its the central freeway in San Fransisco. it runs right next to the BMW dealership. after work i roamed over there an was looking at a used M3 coupe. it was beautiful..and i was feeling rich with a brand new paycheck. (keep in mind half of my paycheck went to rent).

i look out the panoramic window and look up at the bridge we were retrofitting. i see three of my grizzled seasoned co-workers - they were staring at me and pointing at me - o-oh. i went back to work and there they were. all sitting around my desk. then started the the (badgering) questions, "do you own a house? do you have 8 months back up money?..have i started my 401k? how fast will the BMW depreciate?....." relentless. like a bunch of old bitter Chinese men..because they were. i gave up and said, "okay i wont buy the car!!" instead that week i started my 401k with a very humble contribution. but a start nevertheless. i got raises very quickly, and every raise i put into the fund.

if i ever see those three wisemen..i will thank them.

 

I bet you could buy quite a few M3s now HAHA

There was a young 18 year old kid on here maybe a year or two back, who was talking about his brand new 2017-2018 Blue Pearl Metallic truck and mentioned that his truck payment was $500/mo. His Dad co-signed on the loan for him.

$500/mo from the age 18 to 25 (assume a 7 year loan) in a Roth IRA, then contributions stop until age 65 would be over $190k assuming an 8% average rate of return...

 

This thread needs to be part of a new member intro

 

Paid off since August


2010!

 

Paid mine off 2 weeks ago!!!!!

 

I stopped trying to give financial advice to people that don't ask for it. It's a lost cause, and the only thing you'll get is weird looks when talking about the concept of saving for something and paying cash for it, instead of getting into a 72 month loan on a depreciating asset that loses 30% its value when it leaves the lot.

I'm glad I listened to an old man when I started working in the oil patch, save as much as you can, compound interest works wonders, only get loan if it's for a house, and the oil money can go away in an instant. Smartest advice I got.

 

Just paid mine off last month, two years ahead of schedule!

 

My 2014 Limited DCLB 4x4 is almost there. Can’t wait about 3 months left

 

X2

 

So i got the truck in Sept 18 of 2008 and I paid it off 2010... you know what I noticed, the best payments are no car payments!