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  1. #16

    Join Date
    Aug 2002
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    Green Bay, WI
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    Re: All mine!!!!!!!!!!!!

    Congrats Don. Yes, it is a "Big Deal` when someone pays off a vehicle and you are now the debt-free owner.

    I do not have to tell anyone here in this forum about the shortage of new vehicles, regardless of the make, model, and type and its ripple effect on purchase prices and used vehicle prices. Some of you in this forum have told how your "slightly pre-owned" vehicle is actually worth more that what you paid for it. Let`s hope that this electronic micro-chip shortage will alleviate itself and that new vehicles will become more available soon.
    I like to "kick tires" and look at new and used car lots. It`s very sad to see the few vehicles available and car lots that are reminiscent of GM dealers going out of business not that long ago. The "no-haggle" price on used cars and dealer "value added maintenance fees" mark-up on new cars is not conducive to a buyers market. As many new or used vehicle buyers have found that if you do not buy the vehicle you like or need at the asking price because you feel it is too high, someone else will pay it and buy the vehicle from under you.

    Which is good for repair shop mechanics and detailers as vehicle owners hold on to their current ride.
    GB detailer

  2. #17
    Dan's Avatar
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    Aug 2006
    Location
    NoVA
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    7,189
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    Re: All mine!!!!!!!!!!!!

    Don`t forget the don`t laugh it`s paid for license plate ring.

  3. #18
    dcjredline's Avatar
    Join Date
    Dec 2013
    Location
    Near Rochester, NY
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    728
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    Re: All mine!!!!!!!!!!!!

    Quote Originally Posted by Civicclutch View Post
    there is a time and place for car payments. about 2.5 yrs ago we took out a line of credit for us to get a 2nd car as we needed it as our one that we had died and we couldnt work at 2 different locations at same time with one car. but we got it for under market value and still have it, we have since sold the other car to pay some of her school loans as my shop is now 6 blocks from house and she works from home. we were a 1 car family for bout 3-4 months till we had a chance to buy a running truck with working 4x4 for 1k$ which was in cash

    Sent from my SM-G965U using Tapatalk
    IMO there is never a NEED for a car payment, only excuses to get one. Im not saying no one else should do it. Those are just my beliefs. Glad you were happy with your decision. If I had a $300 car payment I would either not be investing OR paying less on my house, and I would prefer both of those things OVER a stupid car. I save and pay cash for my cars. Its weird I know.
    Don

    1989 Formula 350
    2004 Saturn Ion Quadcoupe

  4. #19
    dwaleke's Avatar
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    Nov 2009
    Location
    SE Michigan
    Posts
    80
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    Re: All mine!!!!!!!!!!!!

    Congrats on the payoff!


    Two schools of thought on this.

    1) Never carry debt of any kind. Pay cash, etc.
    2) Don`t tie up your capital in a depreciation asset. Use your money to make yourself even more money.

    It does feel good to not have a car payment though!
    Likes PoisonTheWell, bad penny, dcjredline liked this post

  5. #20

    Join Date
    Dec 2019
    Posts
    279
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    Re: All mine!!!!!!!!!!!!

    Congratulations. I`ve was in deep credit card debt in my 20`s. That experience was so stressful for me I vowed never to borrow money again. My home was paid for at the time of purchase along with any car that I`ve ever owned.
    Likes dcjredline liked this post

 

 
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