Paid my X off!

Last payment cleared the bank. My X is MINE, all mine! - Now I just have to wait for the title in the mail!

New tires here I come!!!

Congrats. Thanks for reminding me to mail my payment.

Congrats! What tires are you gonna buy?

I think I am going to get these:

Yokohama Geolandar A/T-S 265/65R-17 112H RBL

[URL=http://www.discounttire.com/dtcs/findTireDetail.do?rc=TDMINT&yr=2003&cf=false&c=1&sw=false&pc=43484&tc=YOKRHB&rf=true&rcz=75067&cs=265&dVeh=dVeh&rd=17&vid=008161&ar=65]Link[/U RL]

Well the link didn't work now did it? Oh well. It's Friday!

Isnt it such a grand feeling!!! Congrats.

2 more payments for me, should be a good Xmas.

I hate you people!
hehe jk.
My jealousy is speaking.

6 more payments, 2/month, i should be done by christmas. Let the real modding begin!

Nice!

1 more payment for me.

Pro Tip: Never lease a vehicle, then buy it after. On the bright side, it's 8 years old and still has less than 60,000 miles on it.

THAT WAS A LEASE!!!! Nice

Wow! Haven't posted on here in a while, but it was such a great feeling to mail off that last check. But don't worry, you'll find other ways to pour that cash into your Xterra.

Two years left of a 4 year loan. I want it paid off by next December.

2 payments and only 45,000 miles. Guess I'll have plenty of time to spend more money on the X.

I paid mine off the day I got it.

If the only way you can afford a vehicle is to lease it, you can't afford the vehicle.

how's that?

I did not lease mine but I did finance it, is that the same in your book?

just to keep it very simple, these numbers are not true numbers.

Say you paid cash $30,000.00. cool you can do that. now 5 years later you sold it for $15,000.00 to buy something else. you are now out $15,000.00,

I bought one for $30,000.00, but I financed at, which at the time was offered, 0.0 percent. I put $1,000.00 down. had monthy payments of 625 for 4 years. and I then sold 5 years later for $15,000.00 also. So I'm out 31,000.00. 1 thousand more than you, right. No. I invested the $29,000.00 I did not use to buy right out. It gained interest, of more than I was paying in interest in my monthly payments. So I came out ahead.
I think I can afford that.

59 months to go on mine

Leasing is not financing a purchase, as you did, it is renting. Financing I don't actually have a problem with for cars & homes, otherwise I try like hell to avoid debt. Leasing is bad because you can easily end up owing significantly more than the car is worth. And who can live with a 12K/year mileage limit?

Looking at your example numbers, though, there are a couple things I'd have to argue with... Like a $645/month car payment (yikes!). That & another C-note would've covered my mortgage payment - no way I could afford that.

$645/month for 4 years only comes to $30,960... you'd still owe on it. Payments at a more normal 7% would be $695. If you got a 3+% loan (to get to $645/mo), you probably paid for it somewhere else. Uber-low financing always has hidden costs.

Don't forget the $29K you invested is at risk, and you'd have to pay taxes on the interest/capital gains. If you were paying a more normal 7% interest (>$4300 over life of loan), you'd have to have guaranteed investment returns of somewhere in the neighborhood of 9%, and I hope you didn't invest it in Enron or Countrywide Financial - you're not going to find 9% at your local S&L.

So paying cash is really like getting a guaranteed risk-free tax-free ROI of 6-7%. I can live with that.

Yes, we could argue the nuances of numbers all day, and it wouldn't be worth it in the long run. Financing a purchase is certainly a valid option (and always better if the dealer is NOT involved in financing). I was fortunate that I could pay cash - but I had a modest inheritance that allowed me that and to pay off the mortgage too. It's good to be debt-free in an uncertain economy.

Wow! I bet a lot of people on this board financed their payments? Ok so if I have a mortgage on a house that I pay bi-weekly and didnt pay $600,000 with a suitcase full of cash, does that mean I can't afford it?

You do realize there ia a difference between financing and leasing right? Wizards statement was aimed towards the latter and had nothing to do with your normal financing of a vehicle or a house.
:rolleyes:

My X is paid off! mine ol' mine. Nissan Canada is now doing price adjustments because of the strength of the dollar. They're offering cash allowances on new vehicles...soo tempting to get a new x....who am i kidding i cant stand another car payment, woot woot!!!!!!!!

The Oldest Trick in the Stealership Book....They know who Pays off their Vehicle, and start sending them Unbelievable New Car Offers, and Trade Offers that seem Sooooooooo Tempting...That is their Strategy....Do Not Fall for it....You will get the bad end of the stick !!!!...After I Paid my X off, I started getting Tons of these Offers from Various Nissan Dealers, and I still get them....

Nope, stealership sent me nothing...this was my OWN innate desire for a gen 2. For those of you south of the border, Xterras are significantly cheaper down there than they are up here, and our monopoly money has been a fraction of yours. Now that the dollars are pretty much on par, Nissan Canada has lowered their prices to somewhat match the prices down in the states. This is why it is soo tempting.

Nope, stealership sent me nothing...this was my OWN innate desire for a gen 2. For those of you south of the border, Xterras are significantly cheaper down there than they are up here, and our monopoly money has been a fraction of yours. Now that the dollars are pretty much on par, Nissan Canada has lowered their prices to somewhat match the prices down in the states. This is why it is soo tempting.

My Pathy is paid off and the 5k back on a Titan sure is tempting.

I have a March purchase in mind though, building a down payment and paying off old debt comes first.

I paid mine off in March, in less than 3 years, glad I did it, that money goes somewhere else now, like goodies for the truck!

My last payment is in May of 08.

I got a feeling as soon as my check clears, I'm gonna have parts falling off of it...

Can't wait to finally start tricking out my truck.

-Me

mine was paid off as soon as I bought it and traded in my '02 Toyota Avalon