Ok... so in april of '04 I put about 10k down plus a 2k trade in, and took out a 63 month loan to make my car payments low on a new 04 Z.

I just checked my payoff balance and it's about $5,000. I have a little more than that in my savings, but I am going to wait a month to pay it off for more cushion. Had I not just spent about $1000 in photography equipment I wouldn't even hesitate.

What is interesting is the KBB value on the car (good condition, 52k miles) is right at 17,000. Not that I could actually get that much, or that I am ever going to sell it... but it looks like the 12k I put into it initially is still in it today. Not sure how that worked out but I'm not complaining.

Next on the list.... a daily driver... and you know what that means.

 

I believe you have already paid off the interest on the car and paying it off may not make that big of a difference. You are better off using that pay off money on something else.

 

you are exactly right... had I had more money initially I would have made bigger payments to pay off the interest.... I will only save a few hundred bucks by paying it all off now....leaving it in the bank won't really make me any more money so I come out pretty much the same either way..... I more or less just want to be done with car payments....

 

thats awesome...its always a good feeling when you pay off a big thing like that...!!

 

Congrats! I will probably never know what its like to have a nice car that is fully paid off. Guess we will see in 4 or 5 years!

 

I think you should use that 5000K to purchase something like a honda so you can have a daily driver and sink money into the Z....

Something like a 2002 honda civic hatchback Si

 

Congrats. I hate making payments. I hit my loan hard for 2 years and paid it off this month. Time to save for mods...

(pats self on back)

 

Congrats man. Now time to mod her. LIke he said get a beater for a few months while you work on the Z. I wish I could pay mine off in two years damn BALLER.. LOL. Congrats to you both..

 

I can relate 2 more payments on my 03 and

 

Congrats on the Z car, now you will have the bank of your back soon.

 

u dont invest when u buy a car lol unless its a classic i think u need to check how much uve actually paid and discount the depreciation of the car then use a discounted cash flow valuation of your overall value since the year you bought it to get an accurate picture of how much your car is worth now then compared to back then hahah

 

Very nice, it feels great to own your car. Mine has been paid off for 8 months now.

 

Thats great you got your Z paid off now you can find a dd that cost a 1/3 of the Z-car payment and bank the rest to travel and use that photography equipment.

I'm thinking of getting one those cheap egg shape gas misers like the Nano Taut brand new for $2500 -$3500, I could pay cash, 50mpg sounds great and think how refine and fast the Z would feel after getting out that snail.

Its all about the Z-car.

 

lol congrats! .... i own $00.00 on my Z but i have $120,000 in student loans for my college!!!!! =/ .... ill be making same thread pretty soon... in bout 40 years! but it wont be the car ill be happy to pay off but them school loans! =D

 

I just bought my 03 so I owe quite abit. BUT... I do own my 71 240z lol I just bought it for a driver while my 350 gives birth to twins. If i can only keep the 71 from turning into a money sucking pit of doom (project)

 

I owe bout 10 K on my '03.

 

Damm my Z is paid in full. I tried the car payment thing for 1 month 624.00 and like $340.00 of it was interest. So I just paid it in full. Car payments suck. But in 2009 I'll have to suck it up and sell my Z for a good down payment for a GTR.

 

yeah doubt ill ever know that feeling maybe in about 4.5 years or so.

 

lucky *****...congratz, i got about 8k to go on mine, but i also laid 10k on a down payment.