My 20K car will be fully paid off in couple months...

[E equals MC2]

After 4 years, my beautiful Mazda 6i 2003 will be fully paid off in this March. I have about $800 left or so.

Question: what do I do when the car is fully paid off? Do I get a car title or something? Do I have to take any action or I just sit still?

 

[Beev]

Buy a new car!

 

[BUTCH1]

The lender will send you clear title once the last payment clears. Since
it's in good shape just drive and enjoy!

 

[Scouzer]

well i guess you don't have to sit still, you can tap your foot or pace if you like.

 

[E equals MC2]

Originally posted by: Beev
Buy a new car!

No thanks. On my 40K salary as a humble Bachelor, I now know how much of a pain and a financial burden it is to pay off a $20K debt through four freaking years of $300 a month. I guess I'm finally growing up.

Now it's time to save up!

 

[Epic Fail]

Crash it?

 

[SpunkyJones]

Just sit back an enjoy! I paid off my car a few years ago, and it feels good. :thumbsup:

 

[Kelemvor]

It's great to have the extra income. Think of what you can do with an extra $300 or $400 or whatever per month. It's great.

 

[imported_Lothar]

Originally posted by: yamadakun
Crash it?

What he said.

 

[PClark99]

enjoy a life with no car payments.

wife and I have 3 vehicles with clear title, she is on my ass to get rid of my truck and the mustang to get a more family friendly vehicle but it will have to wait a while.

 

[BarneyFife]

Buy a brand new 30k car! That is the American way.

 

[TruePaige]

Drive it till it's ABOUT to have serious problems, then sell it, then buy a USED car for 5k-10k.

..Be happy.

 

[theprodigalrebel]

Originally posted by: E equals MC2

Originally posted by: Beev
Buy a new car!

No thanks. On my 40K salary as a humble Bachelor, I now know how much of a pain and a financial burden it is to pay off a $20K debt through four freaking years of $300 a month. I guess I'm finally growing up.

Now it's time to save up!

Sheesh, what are you, sensible?

 

[Pliablemoose]

Put the extra $ away, and get 200K miles on your 6.

Treat yourself to a detail job every once in a while & don't buy another new car, when yours is dead, pay cash for a nice used one.

 

[SunnyD]

Originally posted by: Pliablemoose
Put the extra $ away, and get 200K miles on your 6.

Treat yourself to a detail job every once in a while & don't buy another new car, when yours is dead, pay cash for a nice used one.

What? You're actually advocating SAVING money? You're the reason the US economy is going in the shitter!!!! :laugh: (j/k)

 

[Dirigible]

Originally posted by: E equals MC2

Originally posted by: Beev
Buy a new car!

No thanks. On my 40K salary as a humble Bachelor, I now know how much of a pain and a financial burden it is to pay off a $20K debt through four freaking years of $300 a month. I guess I'm finally growing up.

Now it's time to save up!

Damn you! How can I feel superior when you're being sensible and intelligent?

Now I'll have to search elsewhere on the internet for idiots to look down on. :frown:

At least it's the internet, so that won't take long.

 

[Pliablemoose]

Originally posted by: SunnyD

Originally posted by: Pliablemoose
Put the extra $ away, and get 200K miles on your 6.

Treat yourself to a detail job every once in a while & don't buy another new car, when yours is dead, pay cash for a nice used one.

What? You're actually advocating SAVING money? You're the reason the US economy is going in the shitter!!!! :laugh: (j/k)

A guy at work & I were making fun of a co worker that makes much less than us & that she bought a car worth 2-4X's the cars we drive...

We decided she's an economy stimulator

 

[SunnyD]

Originally posted by: Pliablemoose

Originally posted by: SunnyD

Originally posted by: Pliablemoose
Put the extra $ away, and get 200K miles on your 6.

Treat yourself to a detail job every once in a while & don't buy another new car, when yours is dead, pay cash for a nice used one.

What? You're actually advocating SAVING money? You're the reason the US economy is going in the shitter!!!! :laugh: (j/k)

A guy at work & I were making fun of a co worker that makes much less than us & that she bought a car worth 2-4X's the cars we drive...

We decided she's an economy stimulator

Hmm, economy stimulator... sounds like something said co-worker might use at night! :Q

 

[Jawo]

Originally posted by: E equals MC2
After 4 years, my beautiful Mazda 6i 2003 will be fully paid off in this March. I have about $800 left or so.

Question: what do I do when the car is fully paid off? Do I get a car title or something? Do I have to take any action or I just sit still?

Congratulations! I'm sure your enjoying your car! I recently got a Mazda 6s Touring...and loving the car. However to get the 0% financing I have to pay it off in three years creating a rather large, (but affordable) payment.

 

[Svnla]

Originally posted by: E equals MC2

Originally posted by: Beev
Buy a new car!

No thanks. On my 40K salary as a humble Bachelor, I now know how much of a pain and a financial burden it is to pay off a $20K debt through four freaking years of $300 a month. I guess I'm finally growing up.

Now it's time to save up!

What? ATOTer that doesn't make over 100K a month and drive a Ferrari/Porsche/insert exotic car models???..... Impossible...What a fraud.....

Glad that you have a good head on your shoulder. Just keep driving that car without any worry about car payments and save your money for rainny day.

 

[her209]

Congrats!

I, myself, drive around in a 14-year-old.

(Giggity giggity goo!)

 

[tyler811]

Originally posted by: E equals MC2
After 4 years, my beautiful Mazda 6i 2003 will be fully paid off in this March. I have about $800 left or so.

Question: what do I do when the car is fully paid off? Do I get a car title or something? Do I have to take any action or I just sit still?

Lender will send you a clear title and letter that final payment was recieved and vehicle is paid off.

Keep this letter and if you do not get one then you need to request one. That way if any thing happens later in life, your in the clear. We paid off our car and GMAC forgot to post the final payment in some computer. Months later went to buy new vehicle and credit report said we 6 months late on the other vehicle. I was pissed but still had the clear and final payment letter. Took months to clear up though.

 

[Savarak]

whats the going avg APR% if you got great credit for a car loan?

 

[MattCo]

Set up a interest earning account and keep making the same monthly payments into it instead. Then in a couple of years, you can trade your current car in and pay cash for the next one without paying interest on it.

 

[JulesMaximus]

Originally posted by: E equals MC2
After 4 years, my beautiful Mazda 6i 2003 will be fully paid off in this March. I have about $800 left or so.

Question: what do I do when the car is fully paid off? Do I get a car title or something? Do I have to take any action or I just sit still?

The lender will mail you the title (actually, I think DMV mails you the title once they are notified that there is no longer a lein holder). There really isn't anything you need to do though.

Enjoy not having a car payment!

My 2003 Maxima will be paid off in a couple months. :thumbsup: