Paid off today

I owed $21K on the truck and decided to go ahead and pay it off even though it was a 1.5% 30 month loan. I have always purchased vehicles not leased with cash. I just could not handle not having the title. Plus now I am saving the $1000 a month I was paying.

What about you guys.......?

 

Paid cash. (waiting for all the responses of people who think paying cash for is dumb and their mysterious investments that return a guaranteed return better than the interest rates on a loan while I live debt free)

 

Noticed Charleston...Who did you buy from?

 

I don't have a 3rd gen but I did buy a low mileage '04 recently that I owe about 7k on (through Toyota). I went the low payment financing route but lately I've been thinking I'll just take the hit and pay it all off next month. I really hate having payments and the feeling that the bank owns part of my truck.

 

Yeah yeah ,,that would have worked in 2009 but not today as much.
I keep my savings and investment money in separate accounts. I decided the market l is looking a tad "toppy"

I kept my truck money in a MM account. I am 80% in cash ,I would never invest debt money in the markets "because it pays more" . When I see markets getting toppy like now and major financial reports looking bad. I Pay off any debt, THEN invest has been what I was taught.

No debt is "good" debt. It may be the only way some people can acquire things and that's ok for them. Can ALWAYS get a note on paid off vehicles or homes.


I was taught the day you pay off your home (or any debt) , you just received a sweet TAX FREE raise. That goes for depreciating debt as well. I just got a $1000 /month tax free raise which will go back in a MM account using dollar cost averaging.. In 24 months I will have paid myself off.

 

Not paid off, I put 21k down, could have paid it all, but I chose not too. I don't mind the 280 or so per month while I give the rest of the money a "chance" to do better in the market.

Plus I'm on the younger side so this will help me build credit. I had an 800+ score which got me a good rate, but it was a thin file since my parents put my name on a credit card a while ago when I was in school and paid everything off each month to help start my credit. Other than that, never had any debt. Someday I'll want to own a house so this should help.

Everybody has a different reason I guess

 

I bought a used 08 from them in Charleston. Good experience. I had to go to Stokes in Charleston to lease my wife's CRV. Local Honda dealer started playing games with the offer. Stokes beat them (I was already $2500 under MSRP) I come there a lot/ bought an Infiniti there and my forst 05 Vette. I use CaMax to get Actual Cash Value numbers before I sell a vehicle

 

EXACTLY! I want to hold the title. If I decide to sell, It is MUCH easier holding the title

 

Yeah, very true. Its too bad you can't rely on the bank to take care of maintenance and repairs, I mean they do own part of it, right?? Haha if that was the case I'd make minimum payments for years

 

Nice. I will have to keep up with those meets and make a few.

 

Must be nice! I'm far from paid off on my 2015. About 3.5 more years for me. Congrats

 

i put 1K every month on the principle...started at 14K down to 8K now

 

Paid cash last Fall. Usually try to pay cash for anything that depreciates and only borrow for things that are likely to appreciate.

 

I could pay it off, but my money is in the market. I figured to keep it that way. I do look forward to having it paid off though.

 

My 2012 is paid off. I paid it off a little over a year ago. Felt good to pay it off and still does.

 

Surprised at the ratio of paid off trucks. Seems lots of people are becoming smarter with their money and denying the banks ownership . I don't blame some to stay invested (Especially if under water) and Hold on to their cash. I just can't stand payments on anything except services.

 

This thread was good timimg. Paid mine off yesterday.

 

I am in absolutely no rush to payoff Toyota. They will have to wait and collect it in small monthly installments, the dealer and I agreed upon

 

Neither the '14 T4R or the '15 Camry are paid off. These two and my 2012 Tacoma are the only car loans I've had in years (and I kinda hate it) but, with 0.0% interest I'm okay with it.

 

1.5 more yrs on my 2010, bought it Oct 2012 with under 7000 miles. $200 a month I can handle..really didn't want another payment but my old truck was not something I could trust any longer.

I am a homeowner as well and would rather pay more on my mortgage, in large part due to my age and moreso that of my wife. The past 18 months we have had substantial expenses in upkeep on the house as well.