Man This Is A Great Feeling
- Thread starter KenB259
- Start date
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Kalai
Member
That is great news now days. I still have 27 payments to go on my truck.
Aloha.
Kalai
Aloha.
Kalai
Congrats!! It is so nice when the debt vanishes!
Little story. I finally paid off my last vehicle that I bought on a lone in May 2022. At the very end of August, 2022....someone stole that car!! Right out of my garage, even, along with all my toolboxes, too (not sure why? But I had some very nice tools that are gone now, and some I've never found for sale again.) So I was debt free, for about three months.
The stolen vehicle was eventually found, a good ways north of where I live, north Denver. I'd had a couple thousand dollars worth of material for a deck in it, as well as some other things, including a fairly decent chunk of change in the center compartment. Getting it out of police impound was expensive, and then when I had an insurance adjuster out to check it out, we discovered that it had actually been damaged pretty badly...the whole right side was all scraped and torn up, they must have backed into something and damaged the rear hatch, and the inside...it looked like they were hauling cinder blocks (which they bought with my credit cards from my stolen wallet, which I had forgotten in the garage out of which my car was stolen, and they clearly found it). The inside of the car was all torn up, and these little white chunks of what looked like cinder from cinder blocks, were all over. The hard plastic paneling of the back hatch had been cracked open and pieces were missing... When the insurance finally got around to dealing with the theft and all, they paid out $9999 (total value), as the cost to repair everything was actually higher than that (hence, they "totaled" the car.)
A little less than a month later, I found another of the same car, several years newer, nicer color, leather interior, wood paneling, nicer features. $11,000. I just couldn't bring myself to go back into debt, after having finally paid off my car from, heck, I think it was bought four or five years earlier. So I for the first time, bought a car literally with cash. You know how hateful the process of getting a car loan is? WOW. I don't know if I'll ever buy a car on a loan again. After a nice test drive and checking out the car for any issues, it took just 5 minutes, checked out the carfax, wrote the guy a check and technically paid $1000 of my own money (plus the $10k from the insurance), no haggling, no dealing with all the myriad of addons they want you to pay for like GAP insurance. Simplest transaction I've ever had for a car...and I drove it off the lot...STILL debt free! Boy, that was a good feeling! Still have and drive that car. Had only one major repair on it, was a bit costly, but otherwise, its been a very reliable car, thankfully.
Little story. I finally paid off my last vehicle that I bought on a lone in May 2022. At the very end of August, 2022....someone stole that car!! Right out of my garage, even, along with all my toolboxes, too (not sure why? But I had some very nice tools that are gone now, and some I've never found for sale again.) So I was debt free, for about three months.
The stolen vehicle was eventually found, a good ways north of where I live, north Denver. I'd had a couple thousand dollars worth of material for a deck in it, as well as some other things, including a fairly decent chunk of change in the center compartment. Getting it out of police impound was expensive, and then when I had an insurance adjuster out to check it out, we discovered that it had actually been damaged pretty badly...the whole right side was all scraped and torn up, they must have backed into something and damaged the rear hatch, and the inside...it looked like they were hauling cinder blocks (which they bought with my credit cards from my stolen wallet, which I had forgotten in the garage out of which my car was stolen, and they clearly found it). The inside of the car was all torn up, and these little white chunks of what looked like cinder from cinder blocks, were all over. The hard plastic paneling of the back hatch had been cracked open and pieces were missing... When the insurance finally got around to dealing with the theft and all, they paid out $9999 (total value), as the cost to repair everything was actually higher than that (hence, they "totaled" the car.)
A little less than a month later, I found another of the same car, several years newer, nicer color, leather interior, wood paneling, nicer features. $11,000. I just couldn't bring myself to go back into debt, after having finally paid off my car from, heck, I think it was bought four or five years earlier. So I for the first time, bought a car literally with cash. You know how hateful the process of getting a car loan is? WOW. I don't know if I'll ever buy a car on a loan again. After a nice test drive and checking out the car for any issues, it took just 5 minutes, checked out the carfax, wrote the guy a check and technically paid $1000 of my own money (plus the $10k from the insurance), no haggling, no dealing with all the myriad of addons they want you to pay for like GAP insurance. Simplest transaction I've ever had for a car...and I drove it off the lot...STILL debt free! Boy, that was a good feeling! Still have and drive that car. Had only one major repair on it, was a bit costly, but otherwise, its been a very reliable car, thankfully.
mark james
IAP Collection, Curator
Sincere congrats. I learned from a cousin many years ago the financial advantages to not having debt. It took me a while, but I got there. Good for you!
I paid my car off too - mind you, it's a 2002, so it didn't cost much!
sorcerertd
Member
We're down to just the mortgage that we re-financed when it was 3%.
When we sold our house in west texas about 3 yrs ago, we cleared enough money to pay off the 25k each we owed on my truck and my wifes tahoe. Feels good to have paid off vehicles. Don't plan on buying a new one in the future either.
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mrburls
Member
Been debt free for years and it is a great feeling. Even looking to now sell our first home we bought 40 years ago now.
WriteON
Member
Exhale and relax....Last truck payment today and now we are officially debt free
WriteON
Member
It did thenI paid my car off too - mind you, it's a 2002, so it didn't cost much!
Woodchipper
Member
Just need to get rid of the house payment! Paid off the baby car this past summer. I got a letter from the local Ford dealer about trucks. One was $87K. What happened to plain ole trucks that were workhorses?
I keep seeing items about GM planning on offering a no frills $8000.00 dollar truck. We'll see but I wouldn't hold your breath.
Mike
Member
It is a great feeling, congrats.
Our house has been paid off since 2020 and it was the only debt we had at the time. We paid off our cars and credit cards around 2007 and have not had a credit card or car loan since. We are able to live very comfortably on SS. We live in a very calm and safe neighborhood in Albuquerque NM. Very low crime rate. But there are parts of town I don't go to without my HK in the car.
Mike
Our house has been paid off since 2020 and it was the only debt we had at the time. We paid off our cars and credit cards around 2007 and have not had a credit card or car loan since. We are able to live very comfortably on SS. We live in a very calm and safe neighborhood in Albuquerque NM. Very low crime rate. But there are parts of town I don't go to without my HK in the car.
Mike