how many of you owe money on your yaris? - Toyota Yaris Forums

tekmoe · 12-31-2006, 02:53 PM

i'm about to collect a large sum of money which will pay off my yaris.

how many of you make payments?

how many of you actually own the car and do not make payments?

60 Somethings · 12-31-2006, 03:49 PM

We own it!

One of the benefits of old age - sometimes.

Have 2.9% loan on our 2006 4Runner (effective rate approx 4.5% with disc. we had to give up to get it), but.........our cash is earning 5%, and we just dole a little out each month to make the payment.

Therefore, if you have a low interest loan, you might not want to pay it off. (That assumes you are going to invest it wisely, not spend it.)

Meteorite · 12-31-2006, 04:00 PM

Paid cash.

Was gonna put 50% down at first to go on payments to boost up credit history, but then the interest was too high anyway so I figured - what's the heck.

tekmoe · 12-31-2006, 05:10 PM

unfortunately i did not have cash at the time of the purchase.

my 06 triumph speed triple was paid with cash. mostly 100 dollar bills.

Meteorite · 12-31-2006, 05:29 PM

RogueYaris · 12-31-2006, 07:04 PM

We owe on our yaris. Lots....

tiksman · 12-31-2006, 09:25 PM

I owe I owe. But maybe not for long.

Blenjar · 12-31-2006, 09:27 PM

Im be done in like 37 month..

:'(

TrancosRt · 12-31-2006, 09:29 PM

I'll be done in like 68 Months :S. Since I'm paying about $20 extra every month, hopefully it won't take that long...

Racer X-8 · 01-27-2007, 11:01 PM

Quote:

Originally Posted by TrancosRt

I'll be done in like 68 Months :S. Since I'm paying about $20 extra every month, hopefully it won't take that long...

You might want to hold onto your $20/month in your own account, where you can earn interest on it, until you've saved-up enough to pay-off your loan in-full. Unlike a motgage loan, prepayments on a simple car loan don't save you any money unless the prepayment pays-off the loan in-full. I learned that one the hard way myself, a long time ago. Prepayments that don't pay-off the loan in-full just sit in their bank, instead of one of your interest bearing acounts. They'll happily hold your money for you if you want them to though. The only interest you save on your loan is the itty bitty bit that is on the last payments. Those are the payments that you wind-up prepaying with your prepayments, but only when the load is paid-off in-full. Get it? That's why car loans suck and I hate having to have one.

Right now, I don't - the only money I owe is my mortgage (which I'm prepaying an extra $300/month on the principle). My yaris was bought with a credit card and a check. I wanted to put the whole thing on my Visa that gives you "bonus points". The bonus points can then get you free things, like, for instance, a $100 cash card for Chili's restaurant, which just so happens to have been how the three of us ate tonight. Yum.

The dealership would only let me put $3k on the card ($43k limit

) - bummer - and the rest was put on my personal check.

btw, I pay-off my credit card statement balances in full, just before the due date. Anyone who carries a balance on their credit card(s) has my deepest sympathies...

static808 · 01-28-2007, 02:34 AM

wrote a fatty check for the yaris. its weird since all of our checks usually go for utility bills, which lie in the $40-50 range. then BAM, you see this check written out for $17k flat. the bank musta been like, "what the hell??". same thing happened 4 months ago when we put a down payment for our sienna, a fat $14K check surrounded by $40 checks. luckily, we got 0% APR on the sienna...

--B

foober · 01-28-2007, 03:09 AM

paid cash. But have been saving for a couple of years for buying a good economical car. So it was all planned.

Its saving me so much on gas that its almost funny. Just for fun I go to gas places and put in a dollars worth of gas. People that work at the stores that pump the gas just look at me in shock. I laugh and tell them," see ya next week".

Blenjar · 12-31-2006, 09:51 PM

well my play is 7.99%..my dad kind pays 325 a month and I pay 2100 a year(100 for 9 month, and 400 for 3 month (summer job) for 3 years..so its kinda hard to really do any upgrades..i dont even have power pkg!!! :'(

Dude if I didn't go to college for 6 month, my current IBM job paid me 750 a week...i would had been kinda half way done by summer 07..

-- Blen

Nimble · 01-27-2007, 11:45 AM

Mine is paid for in cash! No payments rock!

Violin · 01-27-2007, 11:58 AM

Paid cash - one of the reasons I chose a Yaris.

bugnuts · 01-27-2007, 12:38 PM

Quote:

Originally Posted by Violin

Paid cash - one of the reasons I chose a Yaris.

Ditto here!

Go4th · 01-27-2007, 12:22 PM

Quote:

Originally Posted by tekmoe

i'm about to collect a large sum of money which will pay off my yaris.

how many of you make payments?

how many of you actually own the car and do not make payments?

I paid off my 2003 Dodge Ram QuadCab two years ago. I traded in my truck and came out about even.

Besides that if I even kept the truck and had a full car payment the amount of money I save in gas would pay the car payment instead of filling up my truck as a daily driver. (15 mpg on the truck)

Nimble · 01-27-2007, 12:49 PM

Quote:

Originally Posted by Go4th

I paid off my 2003 Dodge Ram QuadCab two years ago. I traded in my truck and came out about even.

Besides that if I even kept the truck and had a full car payment the amount of money I save in gas would pay the car payment instead of filling up my truck as a daily driver. (15 mpg on the truck)

Nice. Haha I bet you're loving the 35 avg vs the old truck's 15?

12-31-2006, 02:53 PM	#1
tekmoe ex-yaris owner View User's Garage Drives: 08 solstice gxp, 06 triumph s3 Join Date: Oct 2006 Location: dallas, texas Posts: 344	how many of you owe money on your yaris? i'm about to collect a large sum of money which will pay off my yaris. how many of you make payments? how many of you actually own the car and do not make payments?

12-31-2006, 03:49 PM	#2
60 Somethings Old Folks View User's Garage Drives: 2007 Yaris LB, 2006 4Runner V8 Join Date: May 2006 Location: Vancouver, USA Posts: 222	We own it! One of the benefits of old age - sometimes. Have 2.9% loan on our 2006 4Runner (effective rate approx 4.5% with disc. we had to give up to get it), but.........our cash is earning 5%, and we just dole a little out each month to make the payment. *Therefore, if you have a low interest loan, you might not want to pay it off.* (That assumes you are going to invest it wisely, not spend it.) __________________ We are the proud owners YARI - He's a loaded Silver LB with ATTITUDE!

01-28-2007, 02:34 AM	#11
static808 Engineer/Artist/House-Dad View User's Garage Drives: 2006 Toyota Sienna XLE Join Date: Aug 2006 Location: California Posts: 419	wrote a fatty check for the yaris. its weird since all of our checks usually go for utility bills, which lie in the $40-50 range. then BAM, you see this check written out for $17k flat. the bank musta been like, "what the hell??". same thing happened 4 months ago when we put a down payment for our sienna, a fat $14K check surrounded by $40 checks. luckily, we got 0% APR on the sienna... --B __________________ His: 2006 Toyota Sienna XLE Arctic Frost Pearl, FC Package, 2007 Solara Nav unit, Spoiler, Running Boards & Auto-dimming rear mirror Hers: 2007 Toyota Yaris LB Black Sand Pearl, Auto, Power Package, Side Airbags, VIP security, USDM center armrest, and accessory 7 spoke 15" alloy wheels

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12-31-2006, 04:00 PM	#3
Meteorite Drives: 07 Yaris LB Manual Join Date: Dec 2006 Location: Los Angeles, CA Posts: 16	Paid cash. Was gonna put 50% down at first to go on payments to boost up credit history, but then the interest was too high anyway so I figured - what's the heck.

12-31-2006, 05:10 PM	#4
tekmoe ex-yaris owner View User's Garage Drives: 08 solstice gxp, 06 triumph s3 Join Date: Oct 2006 Location: dallas, texas Posts: 344	unfortunately i did not have cash at the time of the purchase. my 06 triumph speed triple was paid with cash. mostly 100 dollar bills.

12-31-2006, 05:29 PM	#5
Meteorite Drives: 07 Yaris LB Manual Join Date: Dec 2006 Location: Los Angeles, CA Posts: 16

12-31-2006, 07:04 PM	#6
RogueYaris View User's Garage Drives: 2015 Abs Red Join Date: Nov 2006 Location: JAX Posts: 374	We owe on our yaris. Lots....

12-31-2006, 09:25 PM	#7
tiksman View User's Garage Drives: 07 Red Hatch Join Date: Sep 2006 Location: Atlanta Posts: 269	I owe I owe. But maybe not for long.

12-31-2006, 09:27 PM	#8
Blenjar View User's Garage Drives: Black Yaris 07 HB Join Date: Apr 2006 Location: CT Posts: 1,548	Im be done in like 37 month.. :'(

12-31-2006, 09:29 PM	#9
TrancosRt View User's Garage Drives: 07 Silver HB Yaris Join Date: Jul 2006 Location: S Florida Posts: 289	I'll be done in like 68 Months :S. Since I'm paying about $20 extra every month, hopefully it won't take that long...

01-28-2007, 03:09 AM	#12
foober Drives: two yaris liftbacks Join Date: Jan 2006 Location: kalispell, montana Posts: 351	paid cash. But have been saving for a couple of years for buying a good economical car. So it was all planned. Its saving me so much on gas that its almost funny. Just for fun I go to gas places and put in a dollars worth of gas. People that work at the stores that pump the gas just look at me in shock. I laugh and tell them," see ya next week".

12-31-2006, 09:51 PM	#13
Blenjar View User's Garage Drives: Black Yaris 07 HB Join Date: Apr 2006 Location: CT Posts: 1,548	well my play is 7.99%..my dad kind pays 325 a month and I pay 2100 a year(100 for 9 month, and 400 for 3 month (summer job) for 3 years..so its kinda hard to really do any upgrades..i dont even have power pkg!!! :'( Dude if I didn't go to college for 6 month, my current IBM job paid me 750 a week...i would had been kinda half way done by summer 07.. -- Blen

01-27-2007, 11:45 AM	#14
Nimble Modification Condoner. Drives: 2007 Black Sand Liftback Join Date: Jan 2007 Location: Chicago, IL Posts: 360	Mine is paid for in cash! No payments rock!

01-27-2007, 11:58 AM	#15
Violin View User's Garage Drives: 2007 Yaris LB Auto Join Date: Jul 2006 Location: New Jersey Posts: 1,592	Paid cash - one of the reasons I chose a Yaris.