Debt Free When You Bought Your Mustang?

[CM581978]

Like the title states, how many of you cleared away debt to make room for a new Stang or car? :cheers:

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[MIKESHIP]

I will own my 15' GT free and clear once it gets here:cheers: wife said no car payments

 

[Chargedguard5.0]

Must be nice.

 

[ShadowHorse]

Must be real nice...

I worked a lot of OT to clear away debt and collect a down payment for mine. Well worth every penny. Now I just need some damn good weather. NY been trash this whole month.

 

[Chargedguard5.0]

Must be real nice...

I worked a lot of OT to clear away debt and collect a down payment for mine. Well worth every penny. Now I just need some damn good weather. NY been trash this whole month.

congrats that's awesome. I didn't have much debt til about 6 months ago when I bought a new house, jeep srt8, and now the mustang. I don't have any other debt than that but I think that's enough. Living the American dream.

 

[ShadowHorse]

congrats that's awesome. I didn't have much debt til about 6 months ago when I bought a new house, jeep srt8, and now the mustang. I don't have any other debt than that but I think that's enough. Living the American dream.

Hell yea! 'MERICA!

 

[McCarthy]

I don't own a 15, but no debt on my '14 or truck.

 

[pinero61]

I only had debt on my '13 f150 fx4, and I was able to put half down on my '15 GT PP. I debated a while on trading the truck in on the car, as the equity in it would've been sufficient to completely pay off the car, but I cannot go without a truck... Plus, I have too much time and money invested in the modifications made to that truck to part with it just yet.

 

[MagneticA]

Kept my last car 12 years. Cost me $250/month for 5 years. Kept making the payments for the next 7... to myself... invested it. Wrote a check and drove my Mustang home free and clear... with a some extra dough in the bank.

 

[FATHERFORD]

As low as interest rates are on loans, it's dumb not to pay payments, Your money is worth more investing in the market. I'm still averaging a 10-12% return, which is a lot more then the 1% interest on payments.

 

[Reds197]

As low as interest rates are on loans, it's dumb not to pay payments, Your money is worth more investing in the market. I'm still averaging a 10-12% return, which is a lot more then the 1% interest on payments.

^^Yep. I have 1.49% for 60 months. Why pay cash.

 

[TNcoupe]

2012 Focus and 2013 Explorer paid off free and clear. Owe very little on my house and no CC debt. Still put $4k down on top of X plan and got it at 2% for 60 months.

 

[CM581978]

Im trying to pay 1500 a month or so to clean up my mess

 

[Farmundeh]

The term "debt free" and "student loans" are not compatible with one another. That being said, there's nothing wrong with managing expenses and getting what you want. Everyone has their vices and mine is my car.

 

[MagneticA]

As low as interest rates are on loans, it's dumb not to pay payments, Your money is worth more investing in the market. I'm still averaging a 10-12% return, which is a lot more then the 1% interest on payments.

It all depends on how a person looks at their money. For 7 years my "car payments" went in the market. Made a good return. Took some of that money and paid off the car. And now I continue to make that "car payment" into the market. It's a win-win. At no point am I paying any interest on anything.

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