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Old 12-26-2008, 07:14 PM
 
1,804 posts, read 6,442,182 times
Reputation: 1200

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Great Job!!! POM = Peace O' Mind. It ain't for sale.
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Old 12-26-2008, 08:34 PM
 
Location: Kansas
3,855 posts, read 11,997,142 times
Reputation: 1714
Quote:
Originally Posted by LBSer View Post
my main reason for doing it :

i don't wanna pay the monthly interest anymore.

i have the money to pay it, i almost have 0 bal in my acct. now though and at holiday time even!!
I pat you on the back my friend. I also just paid off my car early a few months ago. No regrets.
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Old 12-27-2008, 07:22 AM
 
389 posts, read 1,865,648 times
Reputation: 185
congrats to all posters here who like me has paid off their cars! watta way to start a new year right: DEBT FREE and with POM! i actually just watched "operation: repo " last night on TV and i dont feel sorry for these irresponsible people when their vehicle is being towed off. and the way they fight so hard (verbal, physical) to fight for "their" car is pathetic and laughable. there was even one teen couple that was caught using the van as a motel when their mother's van was about to be towed. that is classic! even funnier was what the repo guy said: " if they cant pay even for a motel, how do you expect them to pay for car payments?"
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Old 12-27-2008, 04:10 PM
 
Location: Earth Wanderer, longing for the stars.
12,408 posts, read 16,957,822 times
Reputation: 8800
Quote:
Originally Posted by LBSer View Post
congrats to all posters here who like me has paid off their cars! watta way to start a new year right: DEBT FREE and with POM! i actually just watched "operation: repo " last night on TV and i dont feel sorry for these irresponsible people when their vehicle is being towed off. and the way they fight so hard (verbal, physical) to fight for "their" car is pathetic and laughable. there was even one teen couple that was caught using the van as a motel when their mother's van was about to be towed. that is classic! even funnier was what the repo guy said: " if they cant pay even for a motel, how do you expect them to pay for car payments?"
I feel thankful for what I have and feel sorry for poor people. Some do not think clearly and just drift through life, not being able to do well in schools.

I look at others and realize that sometimes smart planning is not enough. We have luck, too. What we have could be taken away quickly with a disease that is more expensive than insurance will pay.

I just wish those people would somehow, in some way, get their lives together. I don't laugh at the misfortune of others.
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Old 12-27-2008, 07:20 PM
 
3,853 posts, read 11,860,265 times
Reputation: 2521
Quote:
i don't wanna pay the monthly interest anymore.
Good thing you wised up.

Most people's money goes to four places: Taxes, Inflation, Interest and buying stuff to impress other people who don't give a damn about them.
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Old 12-28-2008, 10:21 AM
 
389 posts, read 1,865,648 times
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Quote:
Originally Posted by killer2021 View Post
buying stuff to impress other people who don't give a damn about them.
that has never been a problem for me. i bought a MINI coz i fell in love with it and i cant believe i drive my dream car. when i tell people that, they say my car is not really a dream car type. I DONT CARE. it is, for me. i live a simple life and LIVE WITHIN MY MEANS. i pay my CC bill in full every month. I HATE PAYING INTERESTS. i dont charge my credit card with money i know i don't have. most people charge their credit card with money they don't have. that's just delusional and irresponsible.

goldengrain: my main point is that if people will learn to handle their money and live within their means, and learn to SACRIFICE. then i dont think their possesions will be repo'ed. i was able to pay my car loan off coz i sacrificed my stomach(meaning even if i feel hungry or want to buy expensive meals, i passed on it). so i can hit my target amount to pay my car loan off. i REALLY really tighten my belt my whole life to save enough to buy what i want, when i want and don't rely on loans. i hate paying interests.

Last edited by LBSer; 12-28-2008 at 10:33 AM..
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Old 12-28-2008, 01:40 PM
 
Location: Sanford, FL
732 posts, read 3,883,957 times
Reputation: 403
Right now I owe $1600 on a car I dont own anymore and I cant decide whether or not to pay it off. The $106 per month is not a problem and I dont want to rid my emergency stash. I really want the extra $106 per month to buy a motorcycle!
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Old 12-28-2008, 02:01 PM
 
Location: Accokeek, Maryland
127 posts, read 337,712 times
Reputation: 157
Job well done! Remember, if the most expensive miles you drive are the ones when you drive a new car off the lot, the least expensive miles are the ones you drive once you own your car free and clear. Now, if you don't already have the skills, take a class (check your local community college) to make sure you know how to keep YOUR car in tip-top shape and on the road for many payment-free years to come.
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Old 12-29-2008, 08:02 AM
 
13,108 posts, read 19,278,087 times
Reputation: 21539
I'm going to be a bit of a killjoy here and think as an economists and not an average joe, but in this economy CASH IS KING. Credit is cheap, but it's difficult to get nowadays. I wouldn't pay off any low interest loans nor invest and any low interest returns, and I would horde cash to a certain degree for any future contingencies (lay-offs, medical bills, emergencies) since readily available credit is now more difficult, even to the extent of carrying a loan that is a few points above prime even if I had the cash to pay it off.

That's not saying everyone's financial situation isn't different, and a car loan probably carries a higher interest rate than any other type of loan except credit cards and indeed should be payed off. But just remember everyone, in this economy - CASH IS KING.
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Old 12-29-2008, 11:43 AM
 
389 posts, read 1,865,648 times
Reputation: 185
my bro-in-law opened my letter and it turns out it was my car title! i have the car title and a letter saying my car is PAID IN FULL. and that the letter is in lieu of notes. the bank is still in the car title though as lien. but since i got the letter stating i paid it in full, do you think i still have to change my car title with no lien showing? i notice a signature and the date i paid my car in full in the front of the title. I HAVE MY CAR TITLE!!! WOOT!
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