Huzzah!

[Slew Foot]

Just about to start payments on mine.

 

[jmanny]

Congrats!

I paid off my wifes car last year in Feb. The week after that it was totaled

Been resisiting the urge to purchase another on payments. We are trying to hold out for the settlement for the idiot who blew the stop sign.

 

[D1gger]

Congrats.

It is a great feeling to eliminate a debt. I should be completely debt free (including no mortgages) by the end of this year.

 

[RightIsWrong]

I can completely understand the desire to drive a really nice or brand new car and all....

But dammit if my frugal (cheap) ass doesn't have way too many other uses for money than something that I would use roughly 10hrs/wk like a car. For the last few years, I have only purchased used cars for a few grand so that I can pay for them in cash. To me, why continue to pay for something that is depreciating every second? Even at the tail end of the loan....you paid $5k/yr for that car. Buy a beater and invest the rest and actually make your money work for you instead of throwing it into some bank or finance company's coffers. Hell, most of the cars that I have purchased like this still return 75% of my original price (and a couple even full price) which can't be said for almost all new cars when sold or traded in.

Jalopy + maintenance > Chariot + warranty (especially since I am married with kids and don't have to try to impress anyone with my ride)

 

[jmanny]

Originally posted by: RightIsWrong
I can completely understand the desire to drive a really nice or brand new car and all....

But dammit if my frugal (cheap) ass doesn't have way too many other uses for money than something that I would use roughly 10hrs/wk like a car. For the last few years, I have only purchased used cars for a few grand so that I can pay for them in cash. To me, why continue to pay for something that is depreciating every second? Even at the tail end of the loan....you paid $5k/yr for that car. Buy a beater and invest the rest and actually make your money work for you instead of throwing it into some bank or finance company's coffers. Hell, most of the cars that I have purchased like this still return 75% of my original price (and a couple even full price) which can't be said for almost all new cars when sold or traded in.

Jalopy + maintenance > Chariot + warranty (especially since I am married with kids and don't have to try to impress anyone with my ride)

QFT

i am driving a 96 Altima with 237,000 miles. Paid $200 for it. I've been driving it for 2 1/2 years with only normal maintenance costs. Cheap cars FTW. My wife.......that's another story.

 

[spacejamz]

Originally posted by: WingZero94
Mine = 1 Bought with Cash, 2 - 3 years left, however will pay off this year.

you paid for a car in cash, but still have 2-3 years left???

 

[Aharami]

Today should be the last payment toward my car. I gotta call up VW and find out when they're gonna send me the papers

cant believe it's been 5 yrs already!

 

[JulesMaximus]

Originally posted by: Delta6Echo

Originally posted by: JulesMaximus

Originally posted by: Bateluer
No more car payment = 400 dollars per month back into my pocket.

I suppose I could adjust the insurance policy to reflect this as well. Is the bank supposed to mail me some paperwork to reflect that the vehicle is owned by me?

Nice! I only have two more payments on mine. :thumbsup:

My payment is about $400/month. 2003 Nissan Maxima SE...I'm the original owner. It has about 67,000 miles on it currently. It didn't make sense to pay cash for it or even put any money down as I got 5 years financing through the Nissan at 1.9%. I also paid about $5k under msrp.

$400/month for a Maxima? Ughh. What's the KBB value now? :roll:

Private party it's worth about $10,300 currently. I bought it new, msrp was a tad over $27k. It's a sheer silver Maxima SE with automatic and power moonroof. It came with power mirrors, power locks w/keyless entry, CD, power drivers seat, HID headlights, foglights, Homelink, and a 3.5l V6 that puts out 255hp. I paid $22,400 and I think it was a bargain actually.