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Last year my car started to have transmission problems so I started shopping around for a new vehicle. I bought a brand new, 2012 Honda Accord EX-L on April 24, 2012 for a relatively cheap price of $21,500 - and took out a loan of $17,760. I've been browsing these forums for almost a year and have taken a lot of advice from you guys and applied it to my life. With that said, I literally just put my last car payment in the mail!!!! Hopefully I will have the title for a 16.5 month old car in my hand in the coming weeks! I just wanted to thank you all for your input (outside of those saying I should sell the car).
SWWWEEEEEEEETTTTTTT!
Congrats!
I just bought a 2011 Honda Accord EX black on black!
It's a great car and I love it. My plan is to keep it for 7 years before buying a new car (so another 5.5 years from now). And this is the last car I plan to take a loan out for, we are now saving cash to replace my wife's car in 3-4 years. Not too bad for a 27 year old. :-)
It sounds like you have educated yourself very well in credit matters and are setting yourself up for a solid credit future. Wish I was as smart as you when I was 27. Well, if they ever invent time travel.
@monaarts_hotmail wrote:Last year my car started to have transmission problems so I started shopping around for a new vehicle. I bought a brand new, 2012 Honda Accord EX-L on April 24, 2012 for a relatively cheap price of $21,500 - and took out a loan of $17,760. I've been browsing these forums for almost a year and have taken a lot of advice from you guys and applied it to my life. With that said, I literally just put my last car payment in the mail!!!! Hopefully I will have the title for a 16.5 month old car in my hand in the coming weeks! I just wanted to thank you all for your input (outside of those saying I should sell the car).
I`d be very quiet saying you had a paid off car, and not jinx yourself. There are many idiots out there looking for a red light or stop sign to miss.
It's funny though... A few years ago I was in a crappy situation. I had several thousand dollars of bad stuff on my credit that I couldn't pay (medical bills, cell phone service, credit cards, etc.) I finally decided I have to stop spending money on things if I ever wanted nicer things in life. I paid off everything (good and bad) and made a promise to myself that I will never RELY on credit again. Not that I won't use it, but I won't buy something anymore unless I can get a great rate (0% on my furniture for example) and I have the cash to pay it off. It's been working pretty well the last 2 years that I've changed and I couldn't imagine going back to the way it was.
Awesome! I thought I was doing well with paying off my 60 month is 4 months. Way to go!