Last post on Jun 12, 2011 at 7:05 AM
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Car Buying, Car Financing, Car Leasing
#1 of 44 My Last Car Payment was
by Stever@Edmunds HOST
Jan 26, 2011 (8:22 pm)
When was your last car payment?
#2 of 44 Re: Financial Pitfalls of Frequent Buying [steve_]
Jan 26, 2011 (8:13 pm)
Maybe we need a topic called something like "My last car payment was _____"?
Oh, good idea. I'll go first.
"My last car payment was _____ in 2005."
#3 of 44 Re: My Last Car Payment was [steve_]
Jan 26, 2011 (8:31 pm)
Cool. Thanks, Steve.
My last payment was in '90 or '91.
#4 of 44 Re: My Last Car Payment was [jimbres]
by Stever@Edmunds HOST
Jan 26, 2011 (9:10 pm)
Kind of an open question in the title there. I'm waiting for someone to post "My Last Car Payment was in ... arrears".
#5 of 44 ummmm...
Jan 27, 2011 (3:25 am)
My last car payment was in the form of an automatic withdrawal about 28 days ago.
#6 of 44 Open question
Jan 27, 2011 (3:34 am)
Well the title was supposed to be "My Last Payment Was ...," followed presumably by a $ figure. As part of the Chronic Car Buyer's exercise.
I was just trying to be funny...
Heck my first car payment was in 2003.
I hated the concept so much I paid an interest-free loan off early.
I still might do a car loan in the future, who knows.
There are few hard rules in personal finance. Once you owe on a house,
the meaning of "cash" becomes very blurred.
#7 of 44 Re: Open question [steine13]
Jan 27, 2011 (4:13 am)
Ah. Totally missed it.
Well, I don't mind car payments when the money is cheap. When you think of how much you are paying in interest on your home, for example, the interest on a car loan at less than 5 percent is nothing.
It is typically taboo to share how much your monthly payments are for anything... but I don't care. I pay $250 for the GTI and I was paying $315 for the mazda5 ... soon to be $465 for the T&C.
Our highest total was when I had the G35 and she had the XC90. It was about $825 for the pair. At least I think that was the highest. I'm not sure, as the Pacifica and Infinity may have overlapped a bit, during which time the total would have been a bit over $900.
Also, recently, I took out a couple of personal loans to put solar panels on the house. Those are at higher rates than the cars, so we'll definitely focus on paying those off as fast as possible before turning our attention to the car loans.
#8 of 44 last car payment
Jan 27, 2011 (5:27 am)
Im not sure how long ago, but it has to be at least 12-15 years ago. I paid off my car early and the last car we bought we paid cash for. I will never borrow on a car again. It doesn't make sense to pay interest on a depreciating asset. It's a double wammy. Another thing I will never do again is buy a new car. You get killed on depreciation.
#9 of 44 Late November, 2004...
Jan 27, 2011 (5:41 am)
was the last payment for my 2000 Intrepid. Everything I've bought since then has been cheap enough I've been able to pay cash for.
That was a really happy time, financially. I was juggling a house and a condo for close to a year, but two weeks after the Intrepid was paid off, the condo finally sold!
Jan 27, 2011 (5:43 am)
My last payment was very recent...don't know when I will have another one. As I get older, the money used to pay for a car seems to be better spent elsewhere...savings, travel, etc.