Comments on: No More Car Payments

By: thomas

thomas — Tue, 27 Jan 2009 04:49:23 +0000

Yay! I am hoping to have my car paid off before the original loan end date. It will truly be a great feeling. Keep that payment as a savings plan like NCN says!

By: PT Money

PT Money — Mon, 26 Jan 2009 00:12:58 +0000

Thanks, NCN. I appreciate the shout out. I’m so glad to be rid of that debt. Just one more step completed in our plan to live the best financial life that we can. With that debt out of the way, other priorities and now take over, like more savings, etc. I like your idea of continuing to make the payment, but to ourselves.

By: madsow @ Engineer a debt free life

madsow @ Engineer a debt free life — Sat, 24 Jan 2009 16:26:16 +0000

I just paid off my new truck last month (well, it’s a 2006, but I bought it new). Anyway, this is the first time in umpteen years that I have not had a carpayment (or two), and it feels AWESOME.

Now I have 457 dollars a month to put towards paying off my mortgage or student loans. Woohoo.

Way to go PT!

By: MrPlasectomy

MrPlasectomy — Sat, 24 Jan 2009 13:09:02 +0000

Fantastic for PT! I definitely agree with continuing to pay yourself the car payments, but if there is other debt I would either roll that right the next snowball payment or even consider splitting it 50/50. 50% goes towards the next car and 50% goes to the next debt. How about funding that 3-6 month emergency fund?

Great post, it’s good to see others’ successes to keep us all inspired.

By: Damsel

Damsel — Sat, 24 Jan 2009 11:11:53 +0000

I love #4! It sort of falls in line with what I tell myself when I get the “newer car fever” – MY car is my very favorite color – PAID OFF!

By: J. Money

J. Money — Sat, 24 Jan 2009 07:16:33 +0000

hell yeah, that’s quite a nice accomplishment! heading over to hook him up with the good words…

By: Chiot's Run

Chiot's Run — Sat, 24 Jan 2009 04:53:24 +0000

I agree with paying yourself, that way next time you can pay cash for the car!