FreePenguin
Well-Known Member
Congrats! I will finally be credit card debt free in t minus 1.5 months (after 4 years of paying interest) and man. Gonna pay down the car like your guys are doing
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I have more in my bank than how much I own on the GT so technically I can pay it off. Though I prefer to have some free cash in the current situation around Covid-19Anyone really close to paying off their car?
I know Covid-19 has probably put a kink in, for some. But...
This is wisdom. Normally for myself and my family, I have 3 months of financial support easily on tap for the unexpected mishaps. However since the pandemic, I have increased that by an additional 3 months. I have always lived by the philosophy that there is no guarantee in life.I have more in my bank than how much I own on the GT so technically I can pay it off. Though I prefer to have some free cash in the current situation around Covid-19
This is wisdom. Normally for myself and my family, I have 3 months of financial support easily on tap for the unexpected mishaps. However since the pandemic, I have increased that by an additional 3 months. I have always lived by the philosophy that there is no guarantee in life.
Regards
Sure no problem. I am self-employed and had been cutting back my hours to 30 a week since 2019, but ramped up to 45 a week starting in March. I also was able to sell the subdivision lot that my wife and I had purchased 10 years ago that we planned on building a smaller retirement home in about 7 years from now. North Alabama property has increased significantly and this area has not been financially hit like so many other areas in the US have been. Building was considered “essential,” and people have been selling and buying homes/property since the interest rates have been so low. We elected to sell the property and re-evaluate downsizing at later time when things settle down. “Good health willing.”That was good you were able to increase your availability. Others might not be so lucky. Do you mind sharing your strategy?
I agree. The average Mustang owner is over 50 and if you discount 350 owners it would be much higher. Many are financially pretty well set, so car payments are not an issue. But, to many younger Mustang owners, the purchase of a new car is quite an undertaking. I recall when the cost of a new car represented about 20% - 25% of your annual income. That certainly isn't true now.LOL - I feel a little joy when I hear others have paid their car off. Sounds like an achievement of sorts...
Yeah it’s more like 50% lolI agree. The average Mustang owner is over 50 and if you discount 350 owners it would be much higher. Many are financially pretty well set, so car payments are not an issue. But, to many younger Mustang owners, the purchase of a new car is quite an undertaking. I recall when the cost of a new car represented about 20% - 25% of your annual income. That certainly isn't true now.
Cool to see this thread and post again. 6 payments to go now!I got 27 payments left @ 0% so I’m in no rush. It’s our only debt. We paid our house off 4 years ago
what year is your car?Cool to see this thread and post again. 6 payments to go now!
lol ... I’m glad I didn’t think like that0% interest for 72 mos. no reason to payoff early.