yes it drives better. Actually I haven't driven but I figure it really does. 
We had $8000 left and 2.49% and I had no idea why we were still paying on it 3 years later. Honestly I was a bit annoyed that we hadn't paid it off and I hadn't paid attention. So I wrote a check and dropped it at the bank. I like not having a car payment and I like owning my cars.
We lived from 2003-2010 without a car payment with a 1998 toyota corolla and 2000 ford focus. Had a kid and bought a 2010 Subaru outback new and had a loan from 2010-2015. We borrowed $20k and had 1.49%. We also bought in 2012 a 2006 hyundai sonata for $10k and I think it was 1.99%. We paid off both cars in 6/2015. DH wanted a new car in 12/2015 and we bought a new 2016 Subaru Legacy. We paid that off in 12/2018. I got a 2015 Toyota Sienna in 12/2017 and just paid that off this month.
Does it drive better? I would say that it does. I find myself suddenly excited that we are finally without a car loan again after 10 years of car loans. Ugh. We spent a decade not owning out cars. Yes it wasn't a large amount each time. And yes our interest rate was low and the reason why we kept the car loans around. But I like not owing anybody anything.
I was about to refi our mortgage to another 7/1 arm. But instead Chase offered us 2.875% 27 year fixed rate mortgage for FREE. They fedex us a legitimate offer for reducing our rate from 3% for a 7/1 arm to a 30 year fixed jumnbo. Amazing. I did pay $1168 for an appraisal with Bank of America. We will save $88/month so it will take 13 months to break even for the appraisal. But it's a fixed rate and we will be staying in our place like i said potentially until 5/2023.
So for $1168 we just fixed our rate to 2.875% on a jumbo mortgage!
paid off car...and refi mortgage!
September 14th, 2020 at 11:46 pm
September 15th, 2020 at 03:02 pm 1600182167
September 15th, 2020 at 08:51 pm 1600203062
September 21st, 2020 at 03:16 pm 1600701361