Paid off my 19 SR5

No payments for sixteen years.

 

Congrats, OP!!! It’s a good feeling!!!

 

Nice, congrats!

 

Bought mine new in November 2018. Went with Toyota financing, but made sure there was no early pay off penalties.

Not sure why buy my first payment in Dec couldn't be more than the payment. Paid 1 years worth of payment in Jan, and Feb. Paid it off in March.

It is a damn good feeling. Still have to pay insurance thou, so you're always making payments.

Same with my house, paid it off in 16 years, but will pay taxes and insurance till I'm in the ground.

 

congrats!! I got 2 more years on my 2022. Interest is 1% so no sense paying it off.

 

I never understood that concept, much less agreed with it. If one owns their property free and clear they shouldn't have to pay taxes on it. If you don't have kids why should your taxes contribute to the local district? Shouldn't one get to decide what services they want (police, fire, city bond slush fund, ect) out of those property taxes if they're forced to contribute?

 

Pro tip for the OP: start saving for your next vehicle right now with that truck payment that is no longer going to a financial lender! By the time your current ride goes TU, you will have saved enough to pay cash for your next ride.

 

Lol, is this your first week in America?

 

Great Advice!

 

I don't like it either but this is "Merica."

 

https://www.tacomaworld.com/threads/whatever.597261/page-27861#post-30389063

https://www.tacomaworld.com/threads/whatever.597261/page-27862#post-30389527

 

Why does owning the property free and clear have any bearing on whether or not taxes are due on it? One has zero to do with the other.

 

I vote you let that car payment pile up in an account. Then go save a 80 or 90 from being exported. You could buy a few a year, or sink a bunch into one.

 

You never really own property. If you dont pay taxes, they come and take it. By that notion, the government owns it and we simply rent it via taxes. Cars, although depreciating, we can actually own and only pay taxes to drive it on government roads.

it’ll piss you off if you think about it too much

 

Congrats! Your truck inherently looks so much better when you own it outright.

 

Congrats OP! i wish there were more posts like this

With a 2.1% interest rate and a HYSA with 4%, i keep battling the pay off early mindset. The relief would be nice but the math on paper says it’s dumb. First-world problems are a delight.

 

Congrats! Always nice not having a car payment. Now you can focus on putting that extra cash toward mods.

 

Congrats man, I am happy for you. That feeling of being free from the loan for your fav truck is the best.