PAID OFF! Celebration!

[Bob99b5]

I paid mine off 2018 GT on 8/2/18 - the day I picked it up. If I could have gotten 0% I would have taken the free loan.

Sponsored

 

[ghig302]

My 2013 Boss is paid off. It was a great day several months ago. I am a fan of paying stuff off, have 4 more years on my house, did the refinance and the last one was for 10 years at 2.6% fixed. Financially, do what is right for you, not what the xperts say.

 

[Calvin]

Congrats OP! Mustang was my first ever new car purchase (and I guess first car that wasn't my parents) and I paid for it in full almost 2 years ago. I was fortunate that my college was 'cheap' enough that I never really incurred serious debt and was fortunate enough to land my dream job right out of college. About to close on my first home soon but that's another story.

 

[gbgreen]

How did I get redirected to the forums of The Wall Street Journal

 

[sdiver68]

How did I get redirected to the forums of The Wall Street Journal

In short, this is a thread about financing. Surprised we havent solved world hunger in it yet.

 

[jtmat]

Paid off mine within a year of purchase... paid off my condo within three years of purchase...

Hate debt.... although, I love the rewards credit cards (pay off my credit cards weekly, not paid interest on a credit card in decades).

No big celebrations. Seems smart to purchase what you can afford. At least that is my mindset. The wildest thing I read about on this forum was GAP insurance; I had no idea what it was. It blows me away that it is an accepted "thing".

I get the argument that I would be much better off with the house and car money in the markets... and honestly I would have. Unfortunately at the time I had no idea where the market would go. That does not really matter since I invest heavily monthly anyway, even when paying off large ticket items. That is my strategy to success and it seems to be working fine.

 

[Bull Run]

I get the argument that I would be much better off with the house and car money in the markets... and honestly I would have. Unfortunately at the time I had no idea where the market would go.

Doubtful that anyone here has the ability to time the market to properly argue against you regarding your decision. Otherwise, they wouldn't be here talking about loans on a Mustang.

 

[ghig302]

I think 99.9% of car purchases are NOT investments. I would buy a cheaper GT and Condo vs. a GT350, if it was the same monthly payments for condo and GT vs. GT350. Condos ARE investments, and although the interest rate for a second home is higher than I would have liked, we have a renter paying off our mortgage. If I was just plain wealthy, I would love to pay cash for a new car every couple of years.

 

[EcoVert]

First and foremost if your buying a Mustang or Mustang GT as and investment your a dumbass. Only a specialty Mustang might be a investment and that a very large MIGHT.

 

[sdiver68]

First and foremost if your buying a Mustang or Mustang GT as and investment your a dumbass. Only a specialty Mustang might be a investment and that a very large MIGHT.

So much confusion on investment versus total cost of ownership. Just because a car is not an investment doesn't mean you should not seek to minimize TCO (including opportunity cost) for whatever car you decide upon.

 

[cbrookre]

We paid off my Stang late last year. As others have said, we try to minimize our debt and maximize our savings/investments at the same time. Three cars and no payments is a good place to be I think.

 

[Sig556]

#1 I am not wealthy but I paid cash for my car the day I picked it up. I usually don't keep cars longer than 3 years. I can't be bothered with paying for things out of warranty. This way I stay current, get what I want, and have a new reliable vehicle. I know it may not be the wisest choice but it's my way. I'm only going through this life one time and at 75 you better believe I'm doing it my way. GT Premium 6 speed with 3:55 doesn't get much better than that.

 

[MustangGuy]

Paid off my 2016 GT in a 18 months including all the mods along the way. Onto the next Ford payment but not a Mustang - 2018 F150 3.5 EB. Damn thing is almost as fast as the GT in sportmode with the A10

 

[cbrookre]

Paid off my 2016 GT in a 18 months including all the mods along the way. Onto the next Ford payment but not a Mustang - 2018 F150 3.5 EB. Damn thing is almost as fast as the GT in sportmode with the A10

Nice looking truck!

 

[ihc95]

Congrats to everyone here! I paid cash for my 18 GT back in April, about a year after getting my engineering degree.

Sponsored