Yesterday I made the final payment on my 2012 Honda Accord EX-L, exactly 1 year from the day I purchased it! It has not been completely trouble free but the two issues were both covered under warranty. Its a very nice daily driver and hopefully it will prove to be a reliable daily for years to come.
Paid off the car yesterday!
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What two issues did you have with it?
Stay away from car dealerships for awhile so you don't get that new car bug.
New car - what's that
New previously driven car, hmmm ...
New previously driven car, hmmm ...
It's a nice feeling when you make that final payment and then get a letter saying it's yours. We paid off both Dodges last year. Don't plan on having a payment for a long time.
Congrats!....you have just taken yourself out of the madness that amounts to now over 1 trillion dollars of auto loan debt here in the US.
http://www.wsj.com/articles/total-u-s-auto-lending-surpasses-1-trillion-for-first-time-1439478198
http://www.cnbc.com/2016/05/19/auto-loans-roar-to-trillion-dollar-level.html
http://www.wsj.com/articles/total-u-s-auto-lending-surpasses-1-trillion-for-first-time-1439478198
http://www.cnbc.com/2016/05/19/auto-loans-roar-to-trillion-dollar-level.html
If you have auto-deduct payments set up make sure you cancel that service since many banks don't do it automatically like one would naturally assume they would do. It can take several months for them to figure it out on their own. Then you'll have to wait to get a reimbursement check.
Originally Posted By: crazyoildude
What two issues did you have with it?
Found some rust spots on the metal surrounding the rubber door stops, then had the VTC rattle that is common with this engine. Both were covered under factory warranty.
What two issues did you have with it?
Found some rust spots on the metal surrounding the rubber door stops, then had the VTC rattle that is common with this engine. Both were covered under factory warranty.
Congratulations! We've always owned our MDX, and we paid the Ridgeline off last month. I put about half down on it and my brother seller-financed the rest for me (bought it from him). I'm not $400/month richer now, though -- that money goes into the savings account into the down payment (or full payment) on the next vehicle, whatever and whenever that may be.
Warning. If you continue to drive a car that is paid for the NSA will put you on a list and track you for your Un-American activities. Your credit score will drop and you will be contributing to the willful erosion of the financial industry. You must remember that the best way to pay from 2% to over 20% for anything you buy you must remember to finance it. Never catch up so that you can pay cash because you contribution is critical to the success of this finance industry. If you spend your whole life financing stuff you will have done your part and their message to you will have been well received.
Originally Posted By: Gasbuggy
I wouldn't mind a car payment, never had one before. PenFed is always emailing me about 1-1.99% used car rates.
That's what we did, except on new rather than used - 2.25% with a $150 rebate for the first 18 months of a 5 year with a local credit union, and then refinanced with some cash back into 1.49% for a 3 year with Penfed. At those rates I don't mind carrying the loan to term and keeping the cash in my pocket.
I wouldn't mind a car payment, never had one before. PenFed is always emailing me about 1-1.99% used car rates.
That's what we did, except on new rather than used - 2.25% with a $150 rebate for the first 18 months of a 5 year with a local credit union, and then refinanced with some cash back into 1.49% for a 3 year with Penfed. At those rates I don't mind carrying the loan to term and keeping the cash in my pocket.
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A feeling Bill Gates is deprived of !
Originally Posted By: CKN
If I can borrow money at about 1% -I'll take it and keep my $30,000.00 in the bank.
This way the bank can pay you 1% for the use of your money.
It's too bad that !% loans are not more available.
The idea of owing anyone anything does not appeal to me. At least debts like the utilities are pay as you go. I have several piggy banks that I'm working on for future purchases and an emergency fund.
If I can borrow money at about 1% -I'll take it and keep my $30,000.00 in the bank.
This way the bank can pay you 1% for the use of your money.
It's too bad that !% loans are not more available.
The idea of owing anyone anything does not appeal to me. At least debts like the utilities are pay as you go. I have several piggy banks that I'm working on for future purchases and an emergency fund.
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