PAID OFF! Celebration!

[Dave2013M3]

lol ... I’m glad I didn’t think like that

I had a 0% loan from ford and I paid it off early. Covid hit and now I have no income. Thankfully my car is paid off.

I understand, it doesn't make sense financially to pay off a depreciating asset when its interest free. Every situation is different...

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[71Rcode]

Living debt free is a great way to go. I saved and paid cash for a three year old GT. Avoided a lot of depreciation buying used, too. Highly recommend

 

[Dave2013M3]

Living debt free is a great way to go. I saved and paid cash for a three year old GT. Avoided a lot of depreciation buying used, too. Highly recommend

That really is the smart way, buying used. I just have an aversion from buying high horsepower cars used as its tough to decipher really on how they were maintained. Especially Mustangs!!

 

[71Rcode]

Definitely. I bought from the original owner. He garaged and babied the car and had all records... the only way I was gonna buy a used Mustang. Really got to know the guy first.

 

[Dave2013M3]

Definitely. I bought from the original owner. He garaged and babied the car and had all records... the only way I was gonna buy a used Mustang. Really got to know the guy first.

Agreed, I told myself if I ever buy a Porsche again it will be a used 3-4 yr. old garage queen. PCars loose value like crazy the first couple of years then they just flatten out.

 

[keiths2kgt]

what year is your car?

2015

 

[keiths2kgt]

Just paid it off!

 

[IPOGT]

Living debt free is a great way to go. I saved and paid cash for a three year old GT. Avoided a lot of depreciation buying used, too. Highly recommend

Not muscle cars. Only new. Anything else I daily drive totally agreed.

 

[NoVaGT]

Living debt free is a great way to go. I saved and paid cash for a three year old GT. Avoided a lot of depreciation buying used, too. Highly recommend

There are dealerships that sell so cheap at certain times of the year, you're in the black when you drive off the lot.

 

[71Rcode]

Just to clarify I purchased from the original owner as a private sale. I was able to negotiate a great deal and get exceptional documentation. Cut out the middle man per se. And again congratulations to the gentleman who paid off his car...that is an awesome feeling!

 

[RobMustang15]

I kinda paid it off I guess lol.

My mom wanted it so I went ahead and let her take over payments (I had a job where I didn't have to drive to work for a few years, so the car was essentially sitting around) and she paid it off. I recently bought it back from her for a cash amount lol. And since she only drove it to work, it only has 32K miles (2015). I am pretty excited that next month my wifes Forester XT will be paid off too.

No more car payments!

 

[Balr14]

Just paid it off!

Good for you! Having no car payments feels great.

 

[71Rcode]

The trick is to act like you still have a car payment and instead throw that chunk each month in a savings account or some investment. That's how you really get ahead.

 

[Balr14]

The trick is to act like you still have a car payment and instead throw that chunk each month in a savings account or some investment. That's how you really get ahead.

That works great. I have a "toy" account for my cars and other foolishness I want to spend money on. Aside from my car, I used to spend a lot on RC helicopters.

 

[Dominant1]

Im taking offers from folks to pay my car off. I owe $17k.. pm me.. lol!

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