Current Events > So close to paying my car off

(+) Yeah! (+)

Just under $7600 left...

I could use my savings and just pay it off today, but I'm trying to be a little patient. It's a 0% interest loan, so it wouldn't hurt me if I just paid it off on schedule. The maturity date is July of 2018, but I want to get it paid off this year so I can start putting that money I'm paying on my car every month toward my savings sooner.

Every check I put some money in savings, and some money towards my car except for the week I have to pay rent. So right now I'm paying about $1200 - $1500 every month toward my car. Gonna pay this damn thing off so I won't have a car payment for the forseeable future.

And for those who are wondering, it's a 2013 Toyota Camry XLE Hybrid.
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Cool. Good job man.
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congrats! i paid my car off a few years ago. very good feeling, indeed.

CableZL posted...

It's a 0% interest loan, so it wouldn't hurt me if I just paid it off on schedule.

there's definitely no rush. you're basically getting free money.

once you have it paid off, have you considered saving a certain amount each month on your own accord to pay for the next car?
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Yeah, I plan on increasing the amount I put in savings each month by quite a bit once the car is paid off. Right now I'm saving about $800 to $1000 each month, and once the car is paid off, I'm thinking about bumping that up to somewhere between $1500 and $2000.

I'm also planning on keeping this car for quite a while as long as it doesn't start having a bunch of problems. I haven't had any problems at all with this car so far, so I'm hoping that continues for a long time.
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JACKBUTTMOMMY posted...

Damn, I thought my payments were higher than average.

I'm paying a lot more than I have to. I don't technically have to make another car payment until August.
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