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Seems impossible to pay the thing off and kiss the pink. Help help!!

Regular Contributor

Seems impossible to pay the thing off and kiss the pink. Help help!!

After months and months of paying off my new truck back in 2010 the time has come and i still cannot hold the pink in hand. Remaining balance is in the 400 dollar range.I cannot friiiieken wait. Seems impossible like it will never be paid off. I cannot wait. Seems like i just want to go to the credit union and throw  the cash at the counter and demand the title on the spot. I have the itch to celebrate holding the title. In 6 weeks it will be paid offf. And i will keep it. Im not trading it for nothing it is a keeper. I gotta chew more gumm to calmm me down. Ok time to bump more music.

Message 1 of 9
8 REPLIES
New Visitor

Re: Seems impossible to pay the thing off and kiss the pink. Help help!!

Good for you brah, seriously!

 

Paid off trucks are niiiiice.

Message 2 of 9
Highlighted
Member

Re: Seems impossible to pay the thing off and kiss the pink. Help help!!

Congrats man, enjoy the extra spending money Smiley Happy

Message 3 of 9
Regular Contributor

Re: Seems impossible to pay the thing off and kiss the pink. Help help!!

Now I just owe like one hundred fifty buks and change. Oh my.... WOW what a rush !! 4 more weeks.... 4 more weeks to pay it offf. Maybe less if I can come up with the cash.... 

Message 4 of 9
Regular Contributor

Re: Seems impossible to pay the thing off and kiss the pink. Help help!!

When I pay it off and it reports should I expect my fico score to go up? This is an auto loan that got reaffirmed in a BK ch. 7  2.5 years ago.  I also have another auto loan that I owe like 4 thousand bucks to WFDS (got loan 2 days after discharge). As far as I know this auto loan that got reaffirmed in a BK is reporting to equifax but not to transunion. I have no idea about experian... The credit union for this loan gave me no headaches during the BK. My BK attorney at the time told me that the credit union loan manager was his buddy and that he would talk to the loan manager to not repo my truck during bk as long as I paid on time till it was paid off. Not sure if the attorney BSed me or not but i believed him....

Message 5 of 9
Valued Contributor

Re: Seems impossible to pay the thing off and kiss the pink. Help help!!

I think he bs'd you. A re-affirmation is a reaffirmation, regardless of wether or not he's friends with the cu manager. But Congrats on almost paying it off!

What kind of truck is it? Just curious. 


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Message 6 of 9
Regular Contributor

Re: Seems impossible to pay the thing off and kiss the pink. Help help!!

It was for a base model ranger that is now a little soopped up. It is fixed up now to look better than your typical base model. Sound sytem, small lift to make it sit level and slightly bigger tires and looks clean and some HIDs and LEDed out. The black plastic from ranger base models gets faded, But I painted mine with a paint designed for plastic molding and it looks like it is always armored all. Looks good considering it is a base model.

 

The time has finally come. I deposited a check to the credit union using the app on friday and 3 hours later it was available and i transferred the pay off amount to the loan and now the balance is all zeroed out including the pay off is all zeroed out. WOO HOOO!! Time for a celebration holy hell !! On tuesday or wed the funds will be taken from my chase account once the check clears. If money gets taken away on wednesday when the check clears, how many days roughly should I expect the title to be in my mailbox?

 

 Is there a law in California that states title should be mailed to owner once all checks or payments clear in so many days?

Message 7 of 9
Senior Contributor

Re: Seems impossible to pay the thing off and kiss the pink. Help help!!


elcocaino2010 wrote:

When I pay it off and it reports should I expect my fico score to go up? This is an auto loan that got reaffirmed in a BK ch. 7  2.5 years ago.  I also have another auto loan that I owe like 4 thousand bucks to WFDS (got loan 2 days after discharge). As far as I know this auto loan that got reaffirmed in a BK is reporting to equifax but not to transunion. I have no idea about experian... The credit union for this loan gave me no headaches during the BK. My BK attorney at the time told me that the credit union loan manager was his buddy and that he would talk to the loan manager to not repo my truck during bk as long as I paid on time till it was paid off. Not sure if the attorney BSed me or not but i believed him....


In most cases your scores will go DOWN 15-20 points - all depends on your over  all credit profile, but a paid-off installment loan actually hurts scoring.

 

In January 2016 I paid off a 3 year old car note balance, about $14k, to "zero" because I was getting ready to buy a new car and knew I was underwater on the car - scores went down about 20 points and I still had another open auto-installment loan (no lates or anything like that on ether). Two months later I purchased a new car and took out a new installment loan - scores recovered the 20 points plus a couple. 

Message 8 of 9
Established Contributor

Re: Seems impossible to pay the thing off and kiss the pink. Help help!!


elcocaino2010 wrote:

 

The time has finally come. I deposited a check to the credit union using the app on friday and 3 hours later it was available and i transferred the pay off amount to the loan and now the balance is all zeroed out including the pay off is all zeroed out. WOO HOOO!! Time for a celebration holy hell !! On tuesday or wed the funds will be taken from my chase account once the check clears. If money gets taken away on wednesday when the check clears, how many days roughly should I expect the title to be in my mailbox?

 

 Is there a law in California that states title should be mailed to owner once all checks or payments clear in so many days?


Congrats OP, call your CU.  They will tell you when to expect your title.  Every state is different now that most states have electronic verses paper titles.  Some lenders will have your title printed and mailed to you.. others will notifiy the state DMV to satisfy the lien and then will mail you a notice giving you the option to keep the title electronic or have a paper title mailed.  Again congrats there is no better feeling when you sit in the front seat of your vehicle and know that it is YOURS!!!  Smiley Very Happy

Message 9 of 9