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Driving a paid for car!

December 13th, 2018 at 09:01 am

I mailed a check for $18,091.98 off today. Does it drive better? I think a paid for car does! Gotta say I love it. Funny how our "newer" 2016 Legacy drives better than our 2015 Sienna being paid off. Anyway what a nice feeling to be out of a car loan. It's been awhile since that happened and honestly I've been annoyed this past year having two car payments.

I like having a paid for car. I like the feel. I had a 98 corolla that was paid for in 2001. DH had a 2000 Ford focus paid for in 2003 and we didn't have a car payment until 2010 when we bought a new subaru outback with a 5 year loan and took 5 years to pay it off 0.9% interest. Then in 2012 we bought a used 2006 hyundai sonata with a 5 year loan but also paid that off in 3 years. So we didn't have another car loan from 2015-2017 end.

Now it's 12/2018 and it's nice to have a paid for on the books car. The plan? I don't know at this point other than we have 3 more years to pay on the 2.24% loan for the sienna. We may decide to just pay it off if I can convince DH soon.

But right now the plan is drive my minivan another 6 years to 10 years and reevaluate. For our 2016 Legacy? I think we seriously have to take it year by and year and need by need. If DH can drive at all then maybe a second car. If not then I guess I'll keep it and never trade it in. When the self-driving car comes out that is really good comes out (not tesla) we will heavily consider it.

But boy it is nice having a paid for car again. I itch for driving a paid for minivan. How long do you keep your cars? Do you always just pay cash?

6 Responses to “Driving a paid for car!”

  1. crazyliblady Says:

    I have paid cash for my last four vehicles. As soon as I buy one vehicle, I start saving for the next one because you never know when you might have to. I don't want a car loan and right now, I could not afford a car loan. Congrats on the car payoff! Woo-Hoo!

  2. creditcardfree Says:

    We have not yet bought a vehicle with full cash. The last one we bought was half cash and half loan, which we paid off in about 18 months if I remember right. Both vehicles are now 11 years old and we are starting to really notice the repairs needed on the van, but so far it is cheaper to repair, so we are trying to hang in there. It's tempting at times to bite the bullet and buy a new one to us.

  3. CB in the City Says:

    I have done both. It definitely feels better to pay cash, even when you have to settle for an older car, as I did. I don't think I'll ever finance a car again.

  4. frugaltexan75 Says:

    I paid for my first car in cash ($6k in 1994?) My 2nd car (1997) … was paid off in 5 years, and I kept it til 2012. My current car was paid off in ~18 months, have had it just over 6 years now. Hoping for another 6 - 10 out of it.

  5. LuckyRobin Says:

    I prefer it. We've owned the van free and clear for a few years and the truck came to us free and clear in the will, so no debt on two vehicles. It is a very nice feeling. And we only have 41,000 miles on the van, too, so it will last a long time yet. So will the truck, actually, though it has a lot more miles. Toyota's go forever.

  6. livingalmostlarge Says:

    Cars do drive nicer paid for. I checked and the loan is gone from chase. We don't have the title in hand but we own that car. Sigh.

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