Just wrote the check to pay off the wife's car.
Sold my Mercedes earlier this week (and had to pay the negative equity).

First time since 2014 that we've had no car payments.

Now we can start whittling down other debt.

Congratulations!

It's a good feeling.

Being totally debt-free is an even better feeling.

Keep at it! That debt snowball works.

Congratulations. It's nice to be at a stage in life that you have no car payments. We own our two vehicles w/o loans, 2018 and 2020. When I bought the newest recently the salesman seemed disappointed that there would be no pitch for financing required.

We took advantage of the low interest rates on our home mortgage as well. Big savings!

It's a great feeling. Before I bought my new car, I had a nice two year period of no car payments. Socked away 80% of the savings, into savings.

Congrats!

Great feeling, isn't it? Been completely debt free since April and barring some sort of disaster should be able to stay that way for the foreseeable future.

Congrats! I paid my car off recently (two years early) and was enjoying no car payments but now looking into getting a new car for my daughter.

Congratulations it's a great feeling to not owe anyone if you can help it.

That is awesome. I got the rest of my vehicles paid off earlier this year. Been working on other debt since.
As weird as 2020 has been, it has been a good year for me with regards to paying down debt.

We've been able to offset the pay cut we took at work, with the driving reduction I've had from working from home.

Now we can flip the car note payments into other things & work back to our house being our only debt.

Nice!

Congrats!

Keep socking away money as if you were paying down a car note. In a few years, with interest working for you instead of against you, you may be able to buy your next car cash.

Sweet!

Some day you'll look back and try to remember what the payments were like and feel so much better without them.

I'm jealous, with the Covid crap, my P & H business has dropped off. Luckily my van loan is through Citizen One, they called me because I was late with a payment, I explained why and they gave me 3 months of no payments to ease my worries. Thank you Citizens One!!

That’s great. I remember what it felt like to make the last payment on my car.

Congrats!

--k

quote:

Originally posted by .38supersig:
Sweet!

Some day you'll look back and try to remember what the payments were like and feel so much better without them.

Key is to still make the payments, but make it to your savings account.

^^^ Absolutely! I think I remember reading that the average new car purchase delays retirement by two years.

As for me, I have never made a car payment. I do remember the house payment thingy. Haven't owed anybody since October 12th of 2003.

Congrats!

I paid off my truck a couple years ago, and now we only have 7 payments left on Mrs. SigFan’s car. We’ll try to hold off buying her a new one until she retires to keep the miles off. We both drive to work about ~30 miles each way.

Congratulations, it's amazing how much free cash you have every month, once you don't have debt payments taking most of it.