Who has their truck Paid off?

The first few payments are always the sweetest. Like getting something for nothing...and so far you have a $25K plus truck for far far less than that......

..its the $350 payment on the 3 year old vehicle out of warranty with 50K+ miles for another year or three years that sucks with an upside down trade value....

 

If I were to just make my prescribed minimum payments for 6 years, the interest would add up to about $1800. At the start of my loan, interest was around $45/mo. (The loan people don't exactly volunteer these stats - you have to do your own figuring. )

I'm not just going to go with that program. I've already lopped off 1/3 of the principal in just 4 months and will keep paying it down as hard as I possibly can. That way, it should be all gone by next spring if not sooner. Interest is already down to $30 a month (and falling...). My total interest damage should be about $400. That's a hit I can live with on a 20-year purchase.

For some reason I've always been much more aggressive about paying off loans than I have been about saving. I know, it's not ideal, but at least this way the loan works more for me than on me.

BTW, no post-warranty payments for me, thank you very much! (I should have the title, a repair fund, and even savings toward the next rig by the time my baisc 3/36 is up.)

 

paid in full

 

Well in 2 months...that's the end of my 3 year loan.

 

i think i am going to pay it off early. i don't like having balances. the bank probably hates me because they don't make any interest off of me.

 

I have about a year left on my. I will be grateful to get that over with.

 

plus i want to have mine paid off. So i can gear my truck up for the end of the world.

 

Pay it down man.
I originally thought i'd get the 2% 2 year loan... and did.. But someone owning your truck sucks so I bought out the loan.

If you're paying by the book, man.. just pay something more than the payment. 50 bucks a month will save you hundreds. double the payment and save thousands.

 

Paid Cash.

 

hell ya paid cash for mine... no payments.. thank u U.S.ARMY and VA

 

Paid off in 4years or less paying extra every month always helps.

 

Wish mine was paid off. I'm only 1/5 of the way there

 

you guys need to start thinking of that payment as a minimum payment. Its JUST like a credit card. Pay a 6 year loan off in 6 years and you're "playing into their hands". Goes for paying anything on time. Time is your enemy. If your bank has some penalty or makes it hard to pay it down faster, re-finance to a real bank.

Always pay more. You shouldn't have put you payment out to exactly what you had after food and rent.

 

\

Wise words.....

The thing that gets people in trouble is when they have no payments and a paid off $15,000 "DOWN PAYMENT" they rationalize :

"aw payments aren't so bad and I have a $15K trade" so they buy another $30K+ truck on time and start all over again....rinse and repeat and always have a car payment.

Continue making payments on the paid off truck to yourself for another three years and you will have new truck with your trade and your payments to yourself....or buy a late model used one and let someone else throw $5K down the tubes.

 

I paid mine off back in November... I had to sell my 85' 4Runner w/ a 3RZ in it to do so... but at least I've got that monkey off my back while I'm in school. I paid it off just shy of 2 years early, that was w/ a 5 year note.

 

Final payment 5 minutes ago! 36 months at zero percent complete.

 

Are you serious? Don't DESERVE it? That is the most asinine thing I have ever heard!

 

If you can't buy it with CASH then you don't need it. thats my opinion

 

Have fun buying a house , or are you aspiring to live in your truck?

 

You have a 98. Did you buy it used? Try finding a 98 anything in NY WORTH paying cash for. I had a 98 corolla. No way in hell I would have bought that once it was more than 5 yrs old. Cheapest cars I've seen around here were in the $10k range, and even then I wondered if they were worth it. Small cars like the Ford Focus. Who knows how much repair they'd need, and I couldn't fit my family in them. And I *need* to drive 20 miles to get to work so I can, imagine this, make money to pay CASH for anything.

Maybe you don't need to work and don't think anyone else NEEDS a vehicle for that purpose. A *reliable* vehicle that won't break down every week or leave them stranded somewhere. My inlaws have that problem with their last 4 used cars. They went cheap because they couldn't afford the payments. Each time they had to sink $1000 here, few $100 there, every other week. Not to mention not being able to drive the car(s) for weeks while being fixed. And what did they do? Borrow one of my cars. You know, the ones I didn't pay cash for.

You arrogant people that say "if you can't pay cash, you don't need it" or any other similar bullshit need to STFU and GTFO. Maybe move out on your own, start a lower paying job half an hour from your house, and try working for things. Then see how things go.