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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!
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
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.
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:
@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!
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. 🤣
@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
@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:
Happy dance is in order! Congrats on the pay off!
@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!
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 %
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