Car Loans

MikeNV79

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I have only 4 months left on my 5 year car loan! :) Anyone else close to paying off their car loan?
Once mine is paid off, I will save $500 per month. I plan on putting some of that away and some will go to my CPC fund. :cool:
My F150 is in good shape so I hope to get at least 10 more years out of it without too much trouble.
 

nitzilla

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Congrats, we just started new car payments after 8 years of none..... but at least we're at 0% interest. :)

It's always nice to pay them off though.
nitzilla
 

Mr. Cheese

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It's definetly a great feeling when you pay off a car loan. I've paid off about 6 car loans over the last 10 years but never on a new vehicle. My problem is I get bored with cars so I end up only keeping them for like 6 months or less before I get a different one. I don't typically buy new though as I can't justify paying for the depreciation when I keep my cars for such short periods of time. Just this year I've had 5 vehicles (Lifted Jeep, Magnum RT, Durango, Dakota, and Ram 1500) so I might have a slight problem lol.
 

iblonger

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My 05' F150 has been paid off for 6 years, and my wife's 06' Explorer has been paid off for a year. The Explorer is starting to nickle and dime me, but I can fix most of the stuff so far. My truck has been the best vehicle I have owned in my life, and I plan to keep it for quite a while.
 

grandgnu

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I'm in a 2010 Camry, reliable but not particularly exciting to drive. I'm looking forward to the release of the 2016 Maxima, might try leasing it

2016-Nissan-Maxima-Pictures.jpg
 

manamongkids

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I'm in a 2010 Camry, reliable but not particularly exciting to drive. I'm looking forward to the release of the 2016 Maxima, might try leasing it

2016-Nissan-Maxima-Pictures.jpg
Damn, i drive a 2012 fully loaded maxima and that 2016 is crazy looking. That color is horrible though
 

Poker Zombie

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I also like the color. I think I'd like a 1000 chip color rather than my usual hundo color choice.

You may have been chipping too much when you consider "Black" Hundo.
 

tommythecat

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Definitely an awesome color on that Maxima. I have yet to pay off a car loan. I also get bored and trade usually after a year or two.
 

DrStrange

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One of the biggest choices a person makes in their financial life revolves around cars. Pay off the car loan, then save the amount of the payment with the goal of buying the next car strictly for cash. This makes all the difference in the world. It will literally pay for your retirement. Really!

Good job Mike! -=- DrStrange

PS I practice what I preach. I drive a 2003 Toyota, it has 135,000 miles. My wife drives a 2008 Toyota with 85,000 miles. Upkeep is minimal beyond standard things like oil, tires, filter. We don't have the fanciest rides in town but the cars we have work reliably and inexpensively.
 

links_slayer

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Pay off the car loan, then save the amount of the payment with the goal of buying the next car strictly for cash.

This is exactly what we do. Well, we haven't had the need (*knock on wood*) to get a new vehicle yet but we haven't had a car payment in 2+ years but still stash away the amount of two car payments to a saving's account each month. :)
 

TheDeezer

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As a owner of 5 previous maximas I have to say this model is SICK ..I'm so loyal to Nissan its not even funny and this 2016 now cements that !
 

Tommy

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One of the biggest choices a person makes in their financial life revolves around cars. Pay off the car loan, then save the amount of the payment with the goal of buying the next car strictly for cash. This makes all the difference in the world. It will literally pay for your retirement. Really!

Good job Mike! -=- DrStrange

PS I practice what I preach. I drive a 2003 Toyota, it has 135,000 miles. My wife drives a 2008 Toyota with 85,000 miles. Upkeep is minimal beyond standard things like oil, tires, filter. We don't have the fanciest rides in town but the cars we have work reliably and inexpensively.

I've had all GM cars until now. I bought a new Toyota Tacoma in 2011. It's the best vehicle I've owned. Mine won't be paid off until early 2016. It only has 27k miles on it. I plan on driving that until it dies. :)
 
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grandgnu

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From what I've read the 2016 Nissan Maxima will be based on their concept car that was at the auto shows. As such, they aren't releasing a 2015 Maxima, but instead will continue to sell the 2014 model in the year 2015 so they can focus their efforts on the new design. Supposedly the new model will be very close to the concept car I shared in the pic.

I like the color, but my wife doesn't, so we'll likely go with a different color (probably a charcoal/slate grey or something)
 
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Chicken Rob

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One of the biggest choices a person makes in their financial life revolves around cars. Pay off the car loan, then save the amount of the payment with the goal of buying the next car strictly for cash. This makes all the difference in the world. It will literally pay for your retirement. Really!

Good job Mike! -=- DrStrange

PS I practice what I preach. I drive a 2003 Toyota, it has 135,000 miles. My wife drives a 2008 Toyota with 85,000 miles. Upkeep is minimal beyond standard things like oil, tires, filter. We don't have the fanciest rides in town but the cars we have work reliably and inexpensively.

I too drive a 2003 Toyota. Corolla S. Totally baller. about 125,000 on mine.

I bought it at 2/3 the new price with only 12k miles on it in early 2004. It was a lease return with a paint defect. I got the seller to fix the paint for $200. It has held up since then.

It has been paid off since '07 (I was not making very much when I bought it). I now make a lot more, and would like a quieter and more comfortable cabin and safer ride. I'm looking at the Lexus RX 450h and other crossover SUVs that get at least 20mpg. Don't really want to dump $50k on a car, but don't want to keep driving my piece of shit. I'm firmly middle aged, and can afford a little comfort. I just hate the idea of getting an expensive gas guzzler if energy efficient designs are really around the corner. Argh. Well, I'll prolly hold out until fall of 2015 at least, though I was tempted to go test driving this week (football games have a lot of car ads).

Volvo promised a 70mpg crossover SUV for model year 2015 2 years ago. Well, they failed, but it has me holding out hope. Surely this has to be coming soon...
 

gopherblue

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I was carless for 20 years. I've never had a car payment.

Last summer I bought a 2007 VW Passat wagon V6 with AWD, for cash at trade-in value. First OCD owner garaged it and kept it maintained to a T, with barely 70K on the odometer.
 

Chicken Rob

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I have my first serious car payment ever. I'm in a 3 year lease on my Acura MDX. My tesla should be ready right as my lease expires. I'll pay cash for the tesla.

I leased because I was hoping for a better car in 3 years and didn't want to deal with selling the MDX. Looks like my timing may be perfect.
 

Tommy

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I was carless for 20 years. I've never had a car payment.

Last summer I bought a 2007 VW Passat wagon V6 with AWD, for cash at trade-in value. First OCD owner garaged it and kept it maintained to a T, with barely 70K on the odometer.

I hope to be car loan free for the next 10-15 years.

My first car was an 84 Buick Regal. Bought in 1995 with only 52k mile on it. Around 1999 I also bought an 87 Buick Grand National from the original owner. That car only had 12k miles on it. Had fun with it for a few years and sold it for a small profit.

I drove the 84 Regal until I bought a new 2004 Chevy Trailblazer LTZ. Traded that in for a new 2007 Trailblazer SS AWD. When gas hit $4+ per gallon I traded that in for a new 2008 Chevy Equinox. :( I went from 340 HP down to 125 HP. I couldn't take it anymore and traded that in for a new 2008 Trailblazer SS AWD. That truck turned out to be lemon.

When I moved to DE, I traded the lemon for a new 2011 Toyota Tacoma. I've had a car loan for the last 12 years. LOL
Free and clear now!
 

Big Jilm

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Man, I wish I was there bro. SOB. Loan free in 4.5 years. Still owe less than 20K. However, my 2012 Jeep Grand Cherokee Overland is the BEST vehicle I have ever owned and only 37K mi so far (small town). Paying this thing down till the bitter end and hopefully driving it for a very long time. Perfect for nearly any road condition without chains. Air suspension, V8 Hemi, cool/warm seats front and back, and warm steering wheel, upgraded sound etc/the works. Very happy with my stupid payments!
 

bergs

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Actually, I forgot to mention that we had to trade in my wife's Volvo S60 T5 and get her another Subaru. The Volvo was terrible - I mean god-awful - in the snow and ice. It had the all wheel drive but it wouldn't kick in until after you needed it and you were stuck - so we're paying for that for a while.

Credit union was the way to go - got a great rate and below invoice price via my wife's employer's relationship with some program called "VTI"? I might've gotten the name wrong but it's basically a negotiated rate 2% below invoice with no haggling.
 

bentax1978

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Actually, I forgot to mention that we had to trade in my wife's Volvo S60 T5 and get her another Subaru. The Volvo was terrible - I mean god-awful - in the snow and ice. It had the all wheel drive but it wouldn't kick in until after you needed it and you were stuck - so we're paying for that for a while.

That sucks. We've had the opposite experience with our 2003 Volvo V70 T5 (now AWD). Bought it new and have had it for almost 13 years and put 152k miles on it so far. I have a second set of wheels with snow tires on it, and with those, it did pretty well in the snow. I keep thinking it's going to die so we'll have to get a new car, but it just keep hanging in there.
 

bergs

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That sucks. We've had the opposite experience with our 2003 Volvo V70 T5 (now AWD). Bought it new and have had it for almost 13 years and put 152k miles on it so far. I have a second set of wheels with snow tires on it, and with those, it did pretty well in the snow. I keep thinking it's going to die so we'll have to get a new car, but it just keep hanging in there.

She never felt comfortable with it - not like the Subaru Outback. I thought it was sorta rubbish till she got stuck at the end of our driveway 2 years ago in the bad storm and I couldn't get her car out. She's alot more confident with the Subaru. She also had alot of problems with the windshield freezing up with the Volvo that she didn't have with the Outback and the heated wipers.
 

Chicken Rob

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She never felt comfortable with it - not like the Subaru Outback. I thought it was sorta rubbish till she got stuck at the end of our driveway 2 years ago in the bad storm and I couldn't get her car out. She's alot more confident with the Subaru. She also had alot of problems with the windshield freezing up with the Volvo that she didn't have with the Outback and the heated wipers.

You never should have moved to Antarctica.

On a more serious note, no matter what car you're driving, get a set of Nokian Hakkepelita R snow tires. Turned my front wheel drive Corolla from a hockey puck to a confident master of winter driving. My Corolla with the Nokians did better than my MDX with super handling AWD and the stock Michelin all weather tires. They are amazing.
 

Chicken Rob

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You New England guys must be real wimps. I keep Yokohama R-1 super-softs on my car all year round, and have zero problems.
We're the opposite of wimps in NH. We only plow after it's been snowing for at least 24 hours, and we don't let it stop us from going out. Getting stuck is no fun.

If you're driving in slippery conditions, or not a great winter driver, get the Nokians.
 
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