It’s time to celebrate!Â PT from Prime Time Money paid off his car loan!
Now, PT wants to know – What To Do When You Pay Off The Car?
Let me agree with PT when he writes:
Take Time to Celebrate – First, give yourself a good pat on the back for knocking out this debt. Consider a celebratory car wash and a photo op next to your car with the title in your hand.
Awesome!Â PT is right!Â Paying off your automobile loan – and actually owning you car – feels awesome.Â (You can click here to read about the day we paid off our automobile loan – and how, just two-and-a-half years later, we purchased a new-to-us minivan, with cash.)
I love how PT is thinking.Â Paying off debt is one thing, but staying out of debt is the ultimate goal.
Here are a few of my suggestions for what to do after you’ve paid off your car loan:
1.Â Spend a little extra on car maintenance.
2.Â Continue to make car payments – but make them to yourself!
3.Â Call your insurance company and see if your rates might be lower, now that you own the car.
4.Â Every time you get newer car fever – remind yourself how awesome a payment of zero feels!
I hope you’ll zip over to PT Money, congratulate PT, and tell him NCN sent you!Â Debt Reduction Rocks!