How do you make your payments? - Page 2 - Toyota Yaris Forums

nerp · 05-01-2009, 06:02 PM

Quote:

Originally Posted by Kal-El

IMO, there's no point in paying off early if you have 0% interest. Especially if it means sacrificing in other areas to do so. But if money is no object, go for it.

The main point of paying a loan off early is to save on interest but you are not paying any interest.

Unless you just don't want to be upside down.

You raise a very fair point. I guess I just want to get the debt off my back sooner than later (it's not that big of a deal). There's something nice about having that title in your hands. Plus, I hope to have the car fully paid off and still have time to enjoy the extended warranty, etc. It also ends up saving a few bucks on insurance.

nemelek · 05-01-2009, 08:43 PM

15 years ago I sent everything by mail. Now I might use one stamp a month. No wonder the Post Office is going broke.

AlexNet0 · 05-01-2009, 08:49 PM

at 14.9% INterest, I pay as much as possible, as often as possible, all online, because over the phone and mailing costs me extra.

brainless twit · 05-01-2009, 09:01 PM

I pay online, $50 over every month and an extra payment twice a year when I get 3 paychecks in a month. I'm hoping to pay it off before I wreck it!

frownonfun · 05-01-2009, 09:06 PM

yeah you really shouldn't pay extra unless you are specifying that the extra cash is to be applied toward the principal.

Pitt Yaris · 05-01-2009, 10:20 PM

Yea, I can see a lot of people paying extra and then 'expecting' it to go to principal. When I start paying extra I might mail two checks and have a not saying to apply the one ONLY to principal.

SilverBack · 05-01-2009, 10:21 PM

Mine's on auto-pay with all the other bills because I'm not home most of the time

Cutie Pie #2 · 05-01-2009, 10:22 PM

Mine's all paid. I only had a loan for a year, just paid it off two months ago. What a nice feeling.

Kal-El · 05-01-2009, 10:24 PM

Quote:

Originally Posted by AlexNet0

at 14.9% INterest, I pay as much as possible, as often as possible, all online, because over the phone and mailing costs me extra.

Good to know I'm not the only one with high interest. Mine is 20%!

Had to buy immediately after my bankruptcy discharge to replace a car with 253,000 miles on it. My wife will be getting out of school and starting a new job soon so I'll be able to pay it down quick.

rningonfumes · 05-01-2009, 11:08 PM

Quote:

Originally Posted by AlexNet0

at 14.9% INterest, I pay as much as possible, as often as possible, all online, because over the phone and mailing costs me extra.

Quote:

Originally Posted by Kal-El

Good to know I'm not the only one with high interest. Mine is 20%!

Had to buy immediately after my bankruptcy discharge to replace a car with 253,000 miles on it. My wife will be getting out of school and starting a new job soon so I'll be able to pay it down quick.

You guys aren't alone. I was at 14 %-Toyota Finanacial for the first year and then I refinanced with the local credit union down to 9.74 %... for another 84 months. Why 84? I'll explain: makes my payments low enough to where I can pay off the unsecured debt without worrying about the good loan (carpayment). Went from 378 to 270 a month. Now it looks like I'll be free of credit card debt (unsecured ) by the end of this year and then I'll put as much as I can afford over the 270 a month, maybe pay the car off in a year and half.

So stick with it! And try to refinance after a year or so.

OH, and I pull out money to pay at the bank in person.

sf180th · 05-02-2009, 12:02 AM

I have it deducted automatically from my bank account, don’t pay any extra and have 6.00% interest. Car will be paid off in full next month!

mr9865 · 05-02-2009, 12:04 AM

I pay my dad 400 a month, nothing beats interest free lol

AlexNet0 · 05-02-2009, 12:06 AM

Quote:

Originally Posted by mr9865

I pay my dad 400 a month, nothing beats interest free lol

$400!! holy shnikes, well, I guess thats about right, car payment AND insurance land me at 500 a month. jesus I hate being young.

mr9865 · 05-02-2009, 04:15 AM

Quote:

Originally Posted by AlexNet0

$400!! holy shnikes, well, I guess thats about right, car payment AND insurance land me at 500 a month. jesus I hate being young.

Yep pretty much all I make a month is 700, and i dont even have a yaris lol

IllusionX · 05-02-2009, 10:42 AM

my car's on lease.. it's automatically deducted from my account. It's not even an option to do it any other way.

When i financed my echo, and could only do automatic payments through my chequing account. I guess it is possible to overpay, but i would have to send a cheque to Toyota Credit Canada...

GeneW · 05-02-2009, 12:21 PM

My bank's staff are ass pains. They do not accept online payments, except for automatic bank account deductions. Otherwise you send them a check in the mail. I've literally begged for an online payment system, I even opened a checking account for that purpose. No dice. They've promised me that they'll "have it soon" but every six months or so we have a little phone conversation and they say "No, not yet".

They're stuck in the 1970s..... Every other creditor I have will gladly accept online payments. I sit down in front of the PC and do my thing when I feel like doing it.

Gene

RagnaCaT · 05-02-2009, 01:10 PM

Well mine is deducted directly from my Paycheck Bi-weekly so it's $122.50 every 2 weeks and I have a month payment ahead. Feels better that way instead of paying the whole payment at the end of the month. I'm glad I got a 5.85% intrest for both yaris's but my wife's SD I have to go monthly to the bank and pay it

360cubes · 05-02-2009, 01:13 PM

Interest sucks - pay cash. I've bought all my vehicles up front. You can save more this way, too, as cash incentives can get you an additional 20% off, well, if you buy GM lol.

Toyota wants 3.9-5.9% for finance...no thanks.

05-01-2009, 08:43 PM	#20
nemelek DWEED Drives: 3DR 2008 Metorite Metalic Join Date: Oct 2008 Location: Arizona Posts: 1,161	15 years ago I sent everything by mail. Now I might use one stamp a month. No wonder the Post Office is going broke. __________________ Making a decision without following it with an action is still a fantasy.

05-01-2009, 08:49 PM	#21
AlexNet0 View User's Garage Drives: '07 Yaris 3dr Join Date: Nov 2008 Location: Rockland, ME Posts: 1,638	at 14.9% INterest, I pay as much as possible, as often as possible, all online, because over the phone and mailing costs me extra. __________________ ---------- MI-YW ----------

05-01-2009, 10:21 PM	#25
SilverBack Joey View User's Garage Drives: '14 Scion xD 5-speed Join Date: Oct 2008 Location: El Monte, Ca Posts: 3,529	Mine's on auto-pay with all the other bills because I'm not home most of the time __________________ Formerly owned Met-Met. '07 Yaris LB 5-speed. A forum post should be like a skirt: Long enough to cover the subject but short enough to keep things interesting. "I don't have an anger problem. I have an idiot problem." -Hank Hill

05-01-2009, 10:22 PM	#26
Cutie Pie #2 View User's Garage Drives: 2014 Honda CR-V LX Join Date: Oct 2008 Location: Delta,PA Posts: 324	Mine's all paid. I only had a loan for a year, just paid it off two months ago. What a nice feeling. __________________ http://www.midatlanticnostalgiaconvention.com

05-02-2009, 12:02 AM	#29
sf180th Back in USA in days! View User's Garage Drives: 07 Yaris S Sedan Join Date: Feb 2007 Location: Wauseon, OH Posts: 163	I have it deducted automatically from my bank account, don’t pay any extra and have 6.00% interest. Car will be paid off in full next month! __________________ Kazera KZ-V Silver Rims, with 215-35-18 Kumho ESCTA ASX, TRD Springs, TRD Sway Bar, Fujita CAI, Blitz R-Vit i-Color, Blitz Throttle Controller, Megan Header, 2.25 Stainless Cat back Exhuast, 50 Series Flowmaster muffler, 6000k HID.

05-01-2009, 09:01 PM	#22
brainless twit View User's Garage Drives: 2009 base sedan Join Date: Jan 2009 Location: Kentucky Posts: 67	I pay online, $50 over every month and an extra payment twice a year when I get 3 paychecks in a month. I'm hoping to pay it off before I wreck it!

05-01-2009, 09:06 PM	#23
frownonfun View User's Garage Drives: 09 Yaris HB, 08 SR5 Tundra Join Date: Jan 2009 Location: RGV, Texas Posts: 1,086	yeah you really shouldn't pay extra unless you are specifying that the extra cash is to be applied toward the principal.

05-01-2009, 10:20 PM	#24
Pitt Yaris Drives: Flint Mica Sedan Join Date: Oct 2008 Location: Pittsburgh Posts: 475	Yea, I can see a lot of people paying extra and then 'expecting' it to go to principal. When I start paying extra I might mail two checks and have a not saying to apply the one ONLY to principal.

05-02-2009, 12:04 AM	#30
mr9865 $10.25/hr frying chicken View User's Garage Drives: 2012 Yaris L Join Date: Mar 2009 Location: Green Bay WI Posts: 262	I pay my dad 400 a month, nothing beats interest free lol

05-02-2009, 10:42 AM	#33
IllusionX It's the illusion you see View User's Garage Drives: 07 Yaris Sedan Aero Join Date: Oct 2006 Location: Brossard, QC Posts: 3,888	my car's on lease.. it's automatically deducted from my account. It's not even an option to do it any other way. When i financed my echo, and could only do automatic payments through my chequing account. I guess it is possible to overpay, but i would have to send a cheque to Toyota Credit Canada...

05-02-2009, 12:21 PM	#34
GeneW Banned Drives: 2008 Yaris Join Date: Oct 2008 Location: Pennsylvania Posts: 1,034	My bank's staff are ass pains. They do not accept online payments, except for automatic bank account deductions. Otherwise you send them a check in the mail. I've literally begged for an online payment system, I even opened a checking account for that purpose. No dice. They've promised me that they'll "have it soon" but every six months or so we have a little phone conversation and they say "No, not yet". They're stuck in the 1970s..... Every other creditor I have will gladly accept online payments. I sit down in front of the PC and do my thing when I feel like doing it. Gene

05-02-2009, 01:10 PM	#35
RagnaCaT HacKers WanTed! View User's Garage Drives: Yaris S HB & Yaris S SD Join Date: Aug 2007 Location: Villalba, Puerto Rico Posts: 435	Well mine is deducted directly from my Paycheck Bi-weekly so it's $122.50 every 2 weeks and I have a month payment ahead. Feels better that way instead of paying the whole payment at the end of the month. I'm glad I got a 5.85% intrest for both yaris's but my wife's SD I have to go monthly to the bank and pay it __________________ *R-CaT* Project Yar 2ZR

05-02-2009, 01:13 PM	#36
360cubes Drives: 2000 Join Date: Aug 2007 Location: Ontario Posts: 82	Interest sucks - pay cash. I've bought all my vehicles up front. You can save more this way, too, as cash incentives can get you an additional 20% off, well, if you buy GM lol. Toyota wants 3.9-5.9% for finance...no thanks.

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