Who has their truck Paid off?

Oh crap , THAT'S what I should have done with that $40K in cash I had just laying around doing nothing .

 

One more payment! Anyone want to put an over under bet on when it spontaneously combusts?

 

Debt free.Credit card company pays ME to use their card...LOL Use it to buy everything food, insurance Bills. Pay off using Bill Pay when I get home before it his the account..and get those cash rewards when it reaches $500 and begin again.

...cash and carry everything.... 0% interest Mr dealer..no thanks? ... Homey don't make payments. Took us 30 years to get to this place in life. Ain't going back. Made the "great recession" not so great for us..

.....Also never buying new again. Owned one new car in my life (last one before the Tacoma) and the time from the showroom to the wheels going over the curb I loved it being new...Once the wheels went over the curb and into the street I threw out $7000 and became used. Never again. Let some "anal biatch" take the first Whomp..... I'll take the 24K mile 3year old scrap metal and remain debt free and depreciate less going forward Win win..

 

F`N - A . before my, soon 2 B X wife`s frickn lawyers find my stash. i paid CASH!!​

 

Finally got the family's approval ; and purchased my first new vehicle this month.
Payments begin February .

 

not me, i owe $17,000 on a 2011 though

 

Making payments only because it was my only option. It was either let my old truck keep costing me a couple hundred a month in parts/oil or get a new truck and ensure I could get to work everyday. I'm quickly working on getting debt free though. As soon as my wife gets a better paying job (hopefully 30 days away) our household income will increase by 2 to 3 times!!! Then its going to be paying off the truck, the last credit card, and the house! I won't even be 30 years old and debt free with a house!

 

Saved for years, used trade-in, lived frugally, paid cash for no frills vehicle. Working on mortgage now. Goal is to owe no one anything beyond utilities/insurance and live within my means. Someday hope to get off the grid entirely.

 

Wrote a check for the truck for $17k after getting a $6k trade in on my 2003 Subaru Outback POS. I made a decision a few years back to not get in debt ever again after I paid off 7K in credit card debt. If I don't have the money to pay for something I don't need it. My wife and I live off my paycheck and save every cent she makes. I refuse to be a debt slave to anyone and I now seek out investment opportunities.

 

2011 DB cab paid in full.

 

duh, its called common sense! hehe just busting on you.
i paid mine off within a year and a half.
but now I have to pay off my wife new car... 2010 subaru outback. hehe

 

damn!

 

Meh, loans have their uses.

Toyota Financial gave me a reasonable rate (3.5%) and allowed me avoid the cesspool that is the current used market. Haven't had any problems with them and, already a year and a half ahead on payments, I don't expect I will.

Credit cards, now that's a whole other thing. I take the Godfather approach with that. (Keep your friends close, keep your enemies even closer...) I use it for convenience, cash in the rewards and make damn sure those vultures never get another penny of interest from me.

 

For sudden business opportunities/expansion and from the selling end. in personal life... just a matter of being impatient. Not speaking from a pedestal.. I have had loans, but not cause I ever needed them. But at the time I felt I did.

 

the cash reward part kicks ass.

 

You are absolutely right, it is common sense but right now americans owe one trillion in credit card debt. So common sense is not so common. I don't see anything wrong with getting a car loan if you need a reliable ride and can make the payments.

 

.So true. People believe 3% interest is a worthy way to "invest their money at 1% in a bank....If they want more than that they are risking their money on some level. Since most interest is paid early in the loan the effective rate is higher..Nealy HALF the entire interest amount is paid in the for 3 years of a 60 month loan. Paying it of in years 4-5 is a the real waste of money as the interest in effect has already been paid.
Most people accept and make lifetime car payments though because "I can afford it what the hell" and Good for them until they lose a job or have another financial catastrophe.

Financial freedom from debt is not only for "rich" people. Its all about sacrifice early in life. I hear "F%$K it I may die tomorrow so what the hell may as well get what I want" To that I say "what if you don't" because most people in fact don't and pay and pay and pay......for what they "died" buying, But hey "they can afford it"...until something changes..a LOT can change in life in 60 (or really nutty car loans of 72 or 84 months) months LOL


I pay cash for my vehicles then i make payments using a simple interest calculator to myself in a separate MM account with 7% interest then use a part of that money down the line to buy another vehicle, mods (even insurance now). Been doing it this way since i was in my 20's. Needless to say I had crap cars then, but before I was 35 I was paying cash with my own car payments.

After many years of this, I have more in that account then I would ever pay for a car so i pay insurance and bought my bike out of it as well. We do the same for the wife a car. Now in my middle years I am doing that with my homes....(thanks to the exploding Las Vegas market in 2006 where I was able to cash out an then some and pay cash for a home in Myrtle Beach)

A side benefit of cash buying is its easy to pass on that BMW or Porche when you are laying out cash vs $400 a month on a lease. It gives one that little but of "pause"

 

If I would stop buying shit for it (the truck) I would have it paid off a year or so sooner. Oh well...........

 

Affording something means having the money to OWN it today...having the title. Until then the car is rented from the bank with part of the payment going towards the payoff. Stop making payments and one will see quickly who really owns the car


"Being able to make payments" should not be the reason to buy a car one cannot afford. That's why dealers sell cars based on payments over total cost and people with uncommon sense (which is the majority) get sucked into that ruse.


The problem with this logic is..."Everyone does it " doesn't make it right. And one can own a 5 or more year old completely reliable car nowadays and drive it for another 5 years. Make new car payments to themselves and NEVER had a bank holding a title again.

In fact every single car one sees on the roead today..ALL of them are infact used. I was astounded when I moved to South Carolina the cars routinely driven with well over 150K miles on them. Ok a southern car with 100K is equivalent in many ways to a northern car with 80 but I don;t see the sides of the roads litteered with breakdowns. I have been told when asked "a $1200 fix is worth it becasue for many that's three car payments for a serial payment maker"!!!

(And new cars can end up in the shop for a lot of reasons as well)

 

just made my first payment...but no buyers remorse at all!!