Is your Truck paid off?

Most likely it's the headline that is skewing the poll. I wonder how many who are 30k+ in debt on their truck making minimum payments for 5-6 or even 7 years want to read about how people have paid in cash.

 

Dang! I wish I had rates like that. Mine is a 72 month loan but I think my interest is four something. Maybe I need to refinance.

 

Paid for half of the truck, took a loan on $20K/60months. With 2% interest why not keep the extra money around?

 

a better question might be, "are you upside down on your truck loan?"

 

Financed it for less than 6 months, then paid it off.
Someone suggested the idea of paying it off with a card and then paying off the card balance, how feasible is that? I owe 13 on my Wifeys 17 sienna and wouldn’t mind extra bonus bucks from Amex

 

I am underwater a few thousand on the truck. I did no down payment and already have 54K miles on my '16. I financed mostly because my work gives me a monthly allowance that covers the payment... I am hoping that the truck will last at least 300K miles. We'll see.

 

You sound like a young guy who doesn't remember 2009, 2002, 1987....

 

That's the good stuff!

 

Same here I did the 60 months

 

...points for an Idiocracy reference

 

Now into my 30s I really get it. I'd hang onto gold bars before any of that online currency.

 

Solid TW financial advice. I own my home free and clear so I'm gong to cancel my insurance tomorrow. Now I need to call my financial adviser and ask him how to change my brake pads.

 

Sounds like a good idea to me, but that is a personal decision for each person to make, unless you have a mortgage in which case that decision is made for you.

I don't carry any home insurance. I live in Florida, so homeowner insurance isn't cheap.
At what point do you think it doesn't make sense to carry insurance? When the yearly policy cost is 5% of the replacement cost, 10%, 25%, 50% ?

 

I live in Florida, crazy dumb not to have adequate insurance. Sorry good luck

 

Not sure what I would do if my insurance was that high. Rent? Move? Cookie cutter advice for financial matters does not work.

 

Ah that is a tough spot. What % does it actually run? I just calculated mine. About .4% a year.

 

Toyota showed up at my door and asked me if I wouldn't mind driving it for them. I said "I don't know I am kind of busy and all but I guess I have to get around some ways." Well that is how I got mine...

 

I can say my last quote was slightly less than 2% (block house with design limit windspeed of 150+ mph located at about 25' above sea level) without flood insurance. My 2% is certainly not too bad, but sure seems like a lot when I feel my risk is very carefully managed. (And that is with pretty high wind deductibles.)
My parents in an older frame house was about 5%, and steel hangar was even higher than that, which makes absolutely 0 sense to me...
(But of course I was just trying to remind people that 0% financing has an associated cost, even if it is hidden)

 

cash money baby

 

you absolutely need to find a bank to refi that loan. That's pretty high--esp for the current rates we have now.