PAID OFF!!!...What?!?

[slothman86]

So the other day I finally paid off my Yaris! Yessssss.... wait a second, I paid what in interest? 2,ooo some odd dollars? That's an awesome suspension or a turbo! I had a low interest rate too! 5.5% Luckily I paid her if off in 2 years and not 5 like the loan was for.... eeeeek that's close to 6 grand in interest alone! No wonder dealerships make soo much money

Good thing is...is...is that it is mine now! NO MORE PAYMENT~

Paying for everything in cash from now on. No more loans for anything....well except school, no getting around that...even with scholarships? what?

Just curious...How much interest did everyone else pay? or was I the only one bending over and almost paying 20,000 for a yaris! LOL

[custom Lftback]

i pay $242 a month at 4.25%. it's a 60 month loan so I gotta looong way to go yet!

[foober]

credit card interest rates are going through the roof now. Almost 30% if you miss a payment. Don't miss a payment or you'll be dead meat the rest of your lives. The company store or banksters want to own you. WAtch out.

[mikenacarato]

i pay 456 a month at 36 months. i dont want this payment over my head for longer than that.

congrats on paying it off!

[slothman86]

I almost think it's better to save up the money instead of getting a loan...can you imagine that? saving for something that I want to buy? Maybe I could get some sort of a deal if I walk into the dealership with 11,000 cash....hmmm?


Good Luck everyone with your loans...It's a hard road ahead!

[CTScott]

I used to pretend I still had the loan after I paid it off. I'd put it into a separate savings account and by the time I was due to buy another one I'd have a sizable down payment or in the case of my Yaris, enough to buy it outright.

[darkmoon87]

Paying 270 cdn a month with 10k down for 3 years (paying the rest 10k in 3 yrs) with 0.9% financing interest.....holla!

[White Yaris]

next month will be my last payment and it suppose to finish in a year and half later. Paid more and want get out of payment asap haha.

[kustom play]

im paying off more on my loan also

im trying to get it paid off by December

but were looking to buy a house so it might get pushed back a bit

[yaris-me]

Congratulations!

[SilverBack]

Congrats!

..Wanna pay-off mine now?

[bnther36]

Great job paying your ride off.
I just paid off school and my little car is next!

[Havana]

I know it's a good feeling paying it off. At least you minimized the interest paid. Unless you can score 0%, it's always better to pay it all up front. It will save you thousands. Now, that you're in the clear, keeping making payments - to yourself. Set that money aside for your next car. That's what I did and I was able to pay for my Yaris the day I picked it up. I'm not rich. I just set aside $200 a month - way less than most people's car payments. I did that for 6 years and had more than enough to buy my Yaris. I just planned ahead and saved. That's a very unusual concept in America these days.

[unclenefeesa]

Great News !

I still have 54 payments of 360 USD to go.
its a 60 months loan with 3.75 % yearly interest.

Cars here are much more expensive than in the states.
my Sedan costs 18600 USD in cash at the dealership. including tax and registration but without insurance.

And no it is not an S model. it is a standard full option Sedan.

[Thirty-Nine]

I just paid my Yaris off last week, too.

[Yawesh]

Originally Posted by slothman86

So the other day I finally paid off my Yaris! Yessssss.... wait a second, I paid what in interest? 2,ooo some odd dollars? That's an awesome suspension or a turbo! I had a low interest rate too! 5.5% Luckily I paid her if off in 2 years and not 5 like the loan was for.... eeeeek that's close to 6 grand in interest alone! No wonder dealerships make soo much money

Good thing is...is...is that it is mine now! NO MORE PAYMENT~

Paying for everything in cash from now on. No more loans for anything....well except school, no getting around that...even with scholarships? what?

Just curious...How much interest did everyone else pay? or was I the only one bending over and almost paying 20,000 for a yaris! LOL

that's why no more financing for me, bro. i did it for three cars in my life.......you dunno how much money i could have saved

[aca72]

Time=Money

[twowheels]

Originally Posted by slothman86

Paying for everything in cash from now on. No more loans for anything....well except school, no getting around that...even with scholarships? what?

Excuse me for supposing that I know something of your circumstances, but the posts in this thread worry me. A lot of what I'm seeing here is what got us into the economic circumstances that we're in.

I don't know which University you're planning to go to, but regardless I find it hard to imagine that you'd buy a car with a loan while going to school. Isn't a bicycle an acceptable form of transit in most college towns? I had a car, but it was a $300 beater (make it $1500 now), but I rode my bike to school and work most of the time (and still do even though I've long since graduated). Perhaps you have to travel some long distance to visit family, but I still can't imagine why you'd need the luxury of a brand new car, even a frugal one like the Yaris. School loans are also not necessary, though I might go ahead and take loans if I were to do it again. If you're going to a state University (private Universities are definitely expensive) it IS possible to work your way through without having to take loans or scholarships (I managed, though my grades did suffer some, thus my comment that I might take loans if I were to do it again), though I did have to pass up the social aspects. (which may be reflected in this seemingly anti-social response! :-) )

We have two newer cars, both paid off. I fully admit that they're a luxury even though I drive about 35k miles per year (thus the Yaris). I did take a loan on my base model Outback, but only because it was 0 down and 0%. I had the cash, but instead put it aside and collected interest and paid the $2000 per month payment for two years while not touching the original money. Sometimes I still look back and think that the Outback (even the base model) was an unnecessary excess. More recently (January) we purchased the Yaris. It didn't have any such offer so I took the $1000 rebate and just paid cash (not 100% true, I put $5000 on a credit card {the most that the dealership would allow} to get the 1% rebate, and paid that off as soon as I got the bill).

For years I'd look around me and see people buying cars, boats, big TVs, satellite service with all of the premium channels, computers, fancy cell phones, big houses and wonder how in the world they could do it when I was constantly looking for ways to save a little bit more. Now that the whole world is collapsing around me, the boats and RVs are no longer parked on our street, and I continue on without the slightest change to my lifestyle, I understand.