Mine, All Mine

[Jimmy9190]

Some of you here may remember I was in a wreck back in March. I contacted a lawyer to cover myself and be sure I didn't get the short end of the stick from the at-fault driver's insurance company.

To make a long story short, I received a check last week from the lawsuit. I still had another 13 months to pay on my truck, but I put $120.00 of my own money with the check from the lawsuit and paid off my truck last week.

I received the title in the mail today, it had a stamp from Carmax showing the lien was satisfied. I wasn't satisfied with that so I went on up to the tax collector's office and paid $10.00 for a title in my name only, saying there is no lien on the truck at all. They printed it out and handed it to me right then and there.

I guess I am bragging a bit here but it sure feels great not having a truck payment! Now I can take what I was paying out every month to Carmax and put that in my savings account. I feel like putting my title in a frame and hanging it on the wall here in my office at home. But I think the best thing is to just put it in my fire safe instead.

Happy New Year, everybody!

 

[dparm]

I remember when I paid off my first credit card. Nothing quite as satisfying as seeing "account balance: $0".

 

[Hallmark]

SUPER! All's well that ends well.

Now, perhaps you can contribute a bit more to your IRAs and 401(k) plans too.

Congrats.

 

[webfors]

Yep, great feeling! I can't wait till I'm there.

 

[Jimmy9190]

Thanks everybody. I am so glad to have my truck paid off I am going to detail, wash and wax it tomorrow, time permitting...

 

[eljefino]

I'm impressed you can get a title for $10 and get it right there. I have to pay $43 for a rush and it comes in the mail in a week.

 

[Chris142]

I paid off my Jeep about 6 weeks ago. It rewarded me with a dead fuel pump.

 

[rshunter]

Originally Posted By: Chris142
I paid off my Jeep about 6 weeks ago. It rewarded me with a dead fuel pump.

Lousy ingrate! I say go out and kick it right in the tires!

 

[Jimmy9190]

With car titles in Florida you can pay $2.50 to have the title transferred to your name only, and it takes a week to ten days for Tallahassee to send it to you. If you need a replacement title, have just bought a car that had a lost title or as in my case, you just paid it off and have the documentation from the lienholder, you can get an expedited title, or as some here call it a "fast title". Fast titles cost 10 bucks at the tax collector's office and they look exactly the same with the same state documentation.

I replaced my fuel pump back in February. I sure hope I don't have any problems with my truck for a while. That is one reason to pay my old truck payment amount to myself by putting it in my savings account. Hopefully I will save enough that way to cover any parts or repairs I may need in the future. I have done a lot to my truck over the last few years and it has enough new parts that I am confident it should last me a long time. It has 143K on it now and still has its original starter, alternator and water pump. If anything happens, I am thinking it will be one of those 3.

 

[Mr Nice]

Some people like the electronic title as they don't have to worry about losing it or having to look for it when they trade the car in or sell it. I paid off our cars within 28 months and it feels good not to have a car payment.

 

[Pop_Rivit]

Congratulations.

Now is the time to decide to make a change in your car buying habits. Put the payment amount away each month in an account that pays roughly what you'd pay in interest for a car loan. In 4-5 years you can go out and purchase a new (or newer) vehicle for cash. You'll be paying yourself the interest, you'll have a nice bank roll in case you need repairs, and you'll never need to make a car payment again. Add to that when you walk into a dealership as a cash buyer you can get a much better price up front.

I started doing that in the 1970's and haven't made a car payment since. I'd estimate that I saved 50K or so in interest on payments over the years-that's money that went straight into my pocket.

 

[Scienceman]

Congratulations. Something to be proud of!

 

[Jimmy9190]

Thanks everybody. I am really glad to have paid my truck off, I could have just kept making payments for the life of the loan and kept the money from the lawsuit, but I wanted out from my truck payment. I have no other debts other than ordinary living expenses like mortgage, utilities, food and gas and one credit card that I pay off in full every month. I only use my credit card to pay online for my pre-paid toll road pass. I don't like to use my bank debit card online, there are too many crooks out there. I have no other credit cards, no student loans, etc. It feels good to be debt-free and I think your advice is very good, Poprivit. Until I can find the right savings account the money will go into my regular savings account at my bank. I think it pays 3%.

Thanks again.

 

[opus1]

Congratulations.

$10 for a new title is a steal. I paid off the Cobalt (sort of, took a draw on the HELOC...) and got the title from the bank with a payoff letter that encouraged me to get the title reissued to show the lien removed. Went to the Secretary of State's office and the woman behind the counter looks at me funny and says "do you REALLY want to spend $100 to get one piece of paper that says the same thing that the two pieces of paper you already have say????"

Apparently there's no legal requirement to have this done so I walked out of there with the same two pieces of paper and $100 richer.

 

[Pete C.]

When I paid off my 1995 Dodge PU I started saving the payment at the credit union. This is what that savings just bought me for Christmas...

...........................................................

....................................HAPPY NEW YEAR YA'LL!!

 

[Sayjac]

Very sweet, Pete. Congrat and enjoy. Happy New Year!

Is that an oil filter box on the dash?

 

[Jimmy9190]

Originally Posted By: opus1
Congratulations.

$10 for a new title is a steal. I paid off the Cobalt (sort of, took a draw on the HELOC...) and got the title from the bank with a payoff letter that encouraged me to get the title reissued to show the lien removed. Went to the Secretary of State's office and the woman behind the counter looks at me funny and says "do you REALLY want to spend $100 to get one piece of paper that says the same thing that the two pieces of paper you already have say????"

Apparently there's no legal requirement to have this done so I walked out of there with the same two pieces of paper and $100 richer.


There is no legal requirement for me to have it done either. I just wanted it for myself. I have the letter from Carmax saying the lien is satisfied but their name was still on my title. Even though there was a stamp on the title showing the lien was paid in full, I just wanted the title in my name only, with no lien holder at all listed.

It goes back to my own personal pride and/or vanity I guess. I felt like I was getting screwed by the at-fault driver's insurance, because before that guy hit me my truck was worth about $4500.00. After the wreck, its value was diminished significantly. Now that it was almost totaled, my truck might be worth $1200.00, and that's on a good day at the right dealership, if I tried to trade it in on another truck. And this all came about because some idjit was in too big of a hurry to wait 5 more seconds before he blindly pulled out into traffic and into my lane. I did nothing wrong and I did not cause the accident, yet the at-fault driver's insurance company wanted to total my truck, pay off the loan, leave me with nothing and ship my truck off to a junk yard to be stripped for parts. To me, that is just plain wrong. To say nothing of my having to go back out and deal with some car salesman and F&I manager trying to screw me over on a truck deal that I could not afford. I do not like car dealerships.

Having my truck paid off and the title in my name only is my version of justice from the accident. I had to beg and plead with the insurance adjuster and the body shop not to total my truck out. For me, having the title just solidifies the fact that I held the at-fault driver and his insurance company responsible, and this is as close as I will ever get to them making it right. It is also my own personal verification that I did not let the insurance company screw me over.

 

[Jimmy9190]

Sweet truck Pete. I always did like that blue color on the newer Dodge trucks.

That thing got a Hemi?

 

[Pete C.]

Sayjac. I guess it could be considered that, it'a a box of Kleenex tissues.

Jimmey. Sure does. And more widgets and dohickeys than a truck should have. Right down to a heated steering wheel.

 

[oilboy123]

Don't remember what the commercial is for maybe oil??? The one that shows the guys driving down the road and coins are shooting out of the heater vents.

That's what it's like driving a car that is paid off........