lumpygravy Posted May 18, 2012 Share Posted May 18, 2012 (edited) Like the Clint Black song says.... My 2009 Audi A3 is mine after the next payment. I just love the feeling of paying off a loan. It's almost like getting an instant raise. NOW what am I going to do with all that money ?!?!?! Edited May 18, 2012 by lumpygravy Link to comment Share on other sites More sharing options...
JaeOne3345 Posted May 18, 2012 Share Posted May 18, 2012 (edited) Nice. I paid off my Honda S2000 last August. Everyone keeps asking what I will get next? NOTHING, YOU FOOLS. lol Payments suck. The more I don't have a car payment the more I swear I will never have another one. I just put some BBS LM wheels on my s2000. Going in for another paint job in the next couple weeks also. Edited May 18, 2012 by JaeOne3345 Link to comment Share on other sites More sharing options...
Hi-Power Jack Posted May 19, 2012 Share Posted May 19, 2012 My 2009 Audi A3 is mine after the next payment. NOW what am I going to do with all that money Lumpy, you probably paid thousands of dollars extra for interest on your car loan Best thing to do with "all that money", is put the same monthly payments in the bank, every month, so that when you need a new car, you don't have to pay a banker thousands of dollars for loaning you the money Link to comment Share on other sites More sharing options...
Pat Miles Posted May 19, 2012 Share Posted May 19, 2012 In my young 63 years of life I've made one monthly car payment. I decided to try the payment route for a '91 Mitsubishi Montero. Read the first months statement that showed a $70.00 a month interest on the loan and quickly decided that the second monthly payment would be for the balance of the loan. I've paid cash for every other car, new or used, that I have ever bought. Pat Link to comment Share on other sites More sharing options...
Tiny Warrior Posted May 19, 2012 Share Posted May 19, 2012 Congrats!! I can't wait to pay my car off...I'm going to have a huge party! I'm estimating that to be next year because of "politics". I can do it well before then..... I figure the dollar amount I'm plying now I'll put onto the house payment to get rid of that faster, or in another account to save up for the next car (that's planned to be in a WHILE from now!!). Link to comment Share on other sites More sharing options...
Nik Habicht Posted May 20, 2012 Share Posted May 20, 2012 Like the Clint Black song says.... My 2009 Audi A3 is mine after the next payment. I just love the feeling of paying off a loan. It's almost like getting an instant raise. NOW what am I going to do with all that money ?!?!?! Keep setting that car payment aside in an separate account. It'll come in handy for repairs, or for a downpayment when you need to replace the ride..... Link to comment Share on other sites More sharing options...
BritinUSA Posted May 20, 2012 Share Posted May 20, 2012 When I paid off mine a few years ago, I noticed that my insurance premiums on the car went down. I think some insurance companies use credit rating as an indicator of how safe a driver you are. As the loan gets paid off so your credit rating should get a bump, be interesting to see if your premiums drop a little. Link to comment Share on other sites More sharing options...
blind bat Posted May 20, 2012 Share Posted May 20, 2012 I thought the same thing when I paid off my student loans. This brain is finally mine and I'm driving it into the ground. Link to comment Share on other sites More sharing options...
lumpygravy Posted May 20, 2012 Author Share Posted May 20, 2012 Lumpy, you probably paid thousands of dollars extra for interest on your car loan Best thing to do with "all that money", is put the same monthly payments in the bank, every month, so that when you need a new car, you don't have to pay a banker thousands of dollars for loaning you the money Past a certain dollar amount, I have no problem with assuming a loan. As car loans go, the interest rate was quite good - not zero, but not over 3% as I recall and I opted for the shortest term possible. Plus for the tax year of 2009, the sales tax on new car purchases was fully deductible on my tax return. I'd always expect to pay something (interest) for something (use of someone else's money) and the terms suited me at the time. We bought our two cars at the same time and my better half paid cash for hers. I do have a piggy bank for "toys" though.... Link to comment Share on other sites More sharing options...
Miranda Posted May 20, 2012 Share Posted May 20, 2012 Life is Good! ah? I have not had quite that pleasure? I have been under a vw bug in 0 fahrenheit weather.... so there is something to be said for avoiding cheap cars. Frankly, I could barely afford even that car. I got laughed out of more than three new car dealerships. Somehow I managed to get a little money saved and then buying parts got easier and then I started saving... Cars are not cheap, even when you buy the kind you will freeze under. once I recognized that simple fact and planned, I was more able to afford to buy better cars. (used) the dumbest move I made was using a revolving credit account to buy a pickup. I can't state when I paid that off. The account rate got jacked up abut a year after I did that move. I did some account consolidations and such... I am with the advice, save the payments. (mine half works, but tires and parts are less painful) glue a surfboard to the roof and ride that thing until you are standing on sand. :-D and then do it again! Link to comment Share on other sites More sharing options...
lumpygravy Posted May 20, 2012 Author Share Posted May 20, 2012 Keep setting that car payment aside in an separate account. It'll come in handy for repairs, or for a downpayment when you need to replace the ride..... Too late - thosse summer performace tires only go 25K and I just replaced them intsead of throwing down for a JP rifle I was looking at - ouch! Link to comment Share on other sites More sharing options...
DoubleL Posted May 20, 2012 Share Posted May 20, 2012 Uggh you remind me of the F150 I had fully paid off.... and traded in on a new one Car payments suck. Enjoy the no payment feeling, I remember it, and still kick myself to this day for trading that truck in. Link to comment Share on other sites More sharing options...
EkuJustice Posted May 20, 2012 Share Posted May 20, 2012 my problem is about the time I pay a car off, It is time to replace it as it is basically worn out Link to comment Share on other sites More sharing options...
gunguru Posted May 28, 2012 Share Posted May 28, 2012 I will finish paying mine in a few months... And no rush as it's a 0% loan. We asked for a rebate as we wanted to pay cash, but the dealer told us he can't as it's a company promotion, so we get to 0%. Link to comment Share on other sites More sharing options...
Amerflyer48 Posted May 28, 2012 Share Posted May 28, 2012 Guess it is a club,.. My last payment goes in on the 16th. of next month and a month after that 2 CCs will go to 0.00 Time to finish the AR project to celebrate but it will be a cash deal.. and yeah it is a great feeling paying the beasties off.. John Link to comment Share on other sites More sharing options...
warpspeed Posted May 28, 2012 Share Posted May 28, 2012 After being without a car payment for the better part of 5 years I bought my wife a new Mini Cooper last Fall. For some reason, I don't mind that payment at all. Link to comment Share on other sites More sharing options...
Tiny Warrior Posted May 28, 2012 Share Posted May 28, 2012 After being without a car payment for the better part of 5 years I bought my wife a new Mini Cooper last Fall. Saweeeeeeeeeeeeeeeeeeeeeet!! Love mine Link to comment Share on other sites More sharing options...
bulm540 Posted May 29, 2012 Share Posted May 29, 2012 I just paid off my house last month. Link to comment Share on other sites More sharing options...
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