: 2 more payments



crypto_coyle79
05-21-09, 01:16 PM
Just thinking back, I bought my V in the late summer 05 for about $45,000 that had 2500(very hard for sure) miles on it so it was certified. Now I am about to hit 70,000miles and I still have 2 years 30000 miles left on my warranty and just two payments left so I got to thinking that I had never kept my car long enough to pay it off before. Is it old age(30) or the V just keep me happy? I won't miss the 850$ payment and see no need for a new one, might just keep the car, double the payment and get a condo near the beach.

CadiBlk
05-21-09, 01:21 PM
I would open another savings account and then continue to pay yourself car payments. Basically just moving funds from one account to another. Then when you go to buy your next car you will have a large chunk of change for a down payment and there won't be a change in your quality of life to get used to.

The V is a great car. I bought mine with 16k miles and I have had it for 1 year and 1 month and I am going to roll over 38k miles this weekend. I plan to drive the wheels off my V.

CTSV_510
05-21-09, 01:34 PM
just keep the car, double the payment and get a condo near the beach.

:yup:

crypto_coyle79
05-21-09, 01:35 PM
Hell I already drove the front two wheels off of my mine due to the stupid front A arm washer TSB that hit my car harder than most. I don't really need another savings account. I already max out my 529 and 401k and don't qualify for any type of Roth. Add in a $750 a month in a Money market plus a collectibles habit(mostly coins and gold). I think a modest beach condo is a solid store of value right about now as long as it has at least two bedrooms and is walkable with gear to the beach.

perfect
05-21-09, 01:42 PM
you pay more for your car than I do for my apartment!

rangerrob
05-21-09, 02:02 PM
you live in kansas city.... i'm estimating 95% of the country has a higher cost of living

UnsafeAtAnySpd
05-21-09, 02:04 PM
you pay more for your car than I do for my apartment!

I pay more for my car than my house (rent) as well. :) Rent is only $400 a month (three car garage :alchi: ) and I pay $750 a month for the car (payment is only actually $450, but I pay extra). Next month I'm upping the payment to $1000 a month so I can pay it off by next spring.

crypto_coyle79
05-21-09, 02:16 PM
you pay more for your car than I do for my apartment!

To quote the great Floyd Mayweather Jr. "Step your game up", Hell my COA is 750$ a month. The only reason I haven't paid it off the past two years around bonus time is with the .9% financing I got, my money works harder at the bank and I haven't had to clean up my Income / debt ratio for any major purchases lately.Any extra goes to the wifey's studant loans from law school, now thats a hell of a car payment(1250 min a month)

YoshiV
05-21-09, 03:33 PM
Keep it and enjoy...I plan on driving the wheels off mine, I love this car!!

thebigjimsho
05-22-09, 03:07 PM
What's with the funky font?

smashn808
05-22-09, 05:31 PM
Congrats! Must feel great to almost have her paid off.

rand49er
05-23-09, 08:37 AM
What's with the funky font?:histeric: I was wondering the same thing!




Oh, and if we're comparing here, I've got eight more payments of $807 each.

Jbawden
05-23-09, 10:49 AM
How about a traditional IRA, no income limits there. From my point of view, your math is flawed, as I think you're forgetting about the opportunity costs of the that $850 a month and you're still paying out .9% on the balance. It's the same flawed logic where people think the mortgage interest tax deduction is why they should keep paying a mortgage vs. paying it off. But, this is like the "which oil should I use" debate, there are several schools of thought. We can certainly agree you have great taste in cars!

thebigjimsho
05-23-09, 02:09 PM
My payments are done!

Hendrix-Engineering
05-23-09, 02:17 PM
my payments are done!

congrates!

thebigjimsho
05-23-09, 02:30 PM
congrates!
Thanks! Unfortunately, my Town Car is giving me major headaches. There has been a lot of crap keeping me from enjoying the extra $620 a month...

Mystical_Ice
05-23-09, 04:31 PM
the devastating thing is if you were to find the same car today, with the same amount of miles on it that it had when you first purchased it, it probably wouldn't be worth more than $22,000 :( :( :(

makes me glad i paid for my car in cash every time i think about it, because i feel just a little better :/