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Paid Off Car Thread!

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Boragard
Established Contributor

Paid Off Car Thread!

Paying off your car is a tremedout feat.  I began searching the forums for the paid off thread so I could post but I was unable to find one.  I'm hoping the moderators can make this into a sticky or something like the "garden club."  When making that last car payment a person often wants to cheer, scream, cry, etc.  What better way to scream to the world you are car payment free than to make a post.  It's an AMAZING feat.  Let's Celebrate together!!  and CONGRATULATIONS! 

 

The only rule to the thread I ask is that you have already MADE your FINAL payment! 

 

Let's have fun and celebrate together!  

 

A few questions.

 

Year of Car:

Make/Model:

Finance/Lease Term (in months):

How many months it took to pay off ( in months):

Final Payment Date:

 

Finally, Do your happy dance! Smiley Very Happy

Message 1 of 14
13 REPLIES 13
Boragard
Established Contributor

Re: Paid Off Car Thread!

Year of Car: 2019

Make/Model: Hyundai Sonata

Finance/Lease Term (in months): 72 months @ 3.05%                                                                            

How many months it took to pay off ( in months): 18

Final Payment Date: March 16, 2021

Message 2 of 14
CV91915
Established Member

Re: Paid Off Car Thread!

Year of Car: 2018

Make/Model: BMW M550 (CPO)

Finance/Lease Term (in months):  36 months @ 0.9% = $1,420.72 / month                                                                

How many months it took to pay off ( in months): 3

Final Payment Date: March 20, 2021

 

I put the first $5,000 of this purchase on my Bank of America Travel Rewards credit card for 2.625% back ($131.25).  

 

There was an extra $500 incentive to finance with BMWFS vs. paying cash, so I took the financing.

 

Unfortunately I had to keep the loan open for 3 months or the dealer would have been charged back for the incentive, and the finance person who helped me would have lost her commission on the loan.  

 

I prepaid all but the last $135 almost immediately, and I'm putting the final check in the mail on Saturday.  Total interest paid will be somewhere in the neighborhood of $34.

 

Message 3 of 14
4sallypat
Valued Contributor

Re: Paid Off Car Thread!

Year of Car: 2014

Make/Model: BMW 528i CPO

Finance/Lease Term (in months): 60 months @ 0.9% BMWFS

How many months it took to pay off ( in months): 55

Final Payment Date: 02/2021

 

My happy dance title from DMV:

IMG_7028.jpg

Message 4 of 14
Mr_Mojo_Risin
Senior Contributor

Re: Paid Off Car Thread!


@Boragard wrote:

Paying off your car is a tremedout feat.  I began searching the forums for the paid off thread so I could post but I was unable to find one.  I'm hoping the moderators can make this into a sticky or something like the "garden club."  When making that last car payment a person often wants to cheer, scream, cry, etc.  What better way to scream to the world you are car payment free than to make a post.  It's an AMAZING feat.  Let's Celebrate together!!  and CONGRATULATIONS! 

 

The only rule to the thread I ask is that you have already MADE your FINAL payment! 

 

Let's have fun and celebrate together!  

 

A few questions.

 

Year of Car:

Make/Model:

Finance/Lease Term (in months):

How many months it took to pay off ( in months):

Final Payment Date:

 

Finally, Do your happy dance! Smiley Very Happy


I think this is a great idea! 

I'll be here to congratulate and celebrate with with all of the lucky members. 

I'll make my pay off post in about 5 years. 🤣

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Message 5 of 14
Mr_Mojo_Risin
Senior Contributor

Re: Paid Off Car Thread!


@CV91915 wrote:

Year of Car: 2018

Make/Model: BMW M550 (CPO)

Finance/Lease Term (in months):  36 months @ 0.9% = $1,420.72 / month                                                                

How many months it took to pay off ( in months): 3

Final Payment Date: March 20, 2021

 

I put the first $5,000 of this purchase on my Bank of America Travel Rewards credit card for 2.625% back ($131.25).  

 

There was an extra $500 incentive to finance with BMWFS vs. paying cash, so I took the financing.

 

Unfortunately I had to keep the loan open for 3 months or the dealer would have been charged back for the incentive, and the finance person who helped me would have lost her commission on the loan.  

 

I prepaid all but the last $135 almost immediately, and I'm putting the final check in the mail on Saturday.  Total interest paid will be somewhere in the neighborhood of $34.

 


Wow that is sweet for sure! Congratulations 

NFCU More Rewards 28K CL
NFCU Cash Rewards 16K CL
Citi Custom Cash 7.5K CL
AODFCU Visa Sig 5K CL
Discover IT 2.5K CL
Capital One QS 3600 CL
Message 6 of 14
Mr_Mojo_Risin
Senior Contributor

Re: Paid Off Car Thread!


@4sallypat wrote:

Year of Car: 2014

Make/Model: BMW 528i CPO

Finance/Lease Term (in months): 60 months @ 0.9% BMWFS

How many months it took to pay off ( in months): 55

Final Payment Date: 02/2021

 

My happy dance title from DMV:

IMG_7028.jpg


Happy dance is in order! Congrats on the pay off!

NFCU More Rewards 28K CL
NFCU Cash Rewards 16K CL
Citi Custom Cash 7.5K CL
AODFCU Visa Sig 5K CL
Discover IT 2.5K CL
Capital One QS 3600 CL
Message 7 of 14
Mr_Mojo_Risin
Senior Contributor

Re: Paid Off Car Thread!


@Boragard wrote:

Year of Car: 2019

Make/Model: Hyundai Sonata

Finance/Lease Term (in months): 72 months @ 3.05%                                                                            

How many months it took to pay off ( in months): 18

Final Payment Date: March 16, 2021


Nicely done,  thanks again for the thread!

NFCU More Rewards 28K CL
NFCU Cash Rewards 16K CL
Citi Custom Cash 7.5K CL
AODFCU Visa Sig 5K CL
Discover IT 2.5K CL
Capital One QS 3600 CL
Message 8 of 14
Anonymous
Not applicable

Re: Paid Off Car Thread!

Year of Car: 2017 

Make/Model: Toyota Corolla

Finance/Lease Term (in months):66

How many months it took to pay off ( in months):46

Final Payment Date: 2/24/21

paid my vehicle off 20 months early, purchased 5/1/7 and paid of 2/24/21. original balance of loan was $16,089.00

PNC gave me the best rate avaliable 3.3 %

Smiley Happy 

Message 9 of 14
Anonymous
Not applicable

Re: Paid Off Car Thread!

i know this not much compared to otheres but here i go. total vehicle price $4900, I put $1,500 down. financed the rest. paid it off early.

Used car purchase (6/5/19)

Year of Car: 06

Make/Model: Jeep Commander

Finance/Lease Term (in months): 24 months ($220 monthly) @ 11.99 %

How many months it took to pay off ( in months):19 months

Final Payment Date:3/15/21

Message 10 of 14
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