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It’s always nice to receive any money in the mail, even if it happens to only be $4.19. I guess that is the amount that I overpaid on my car loan. I’m not quite sure how that happened since our car payment was on automatic payments since day one - but I won’t complain. Receiving the money was a nice treat.
We also received the original loan papers and it had “PAID IN FULL” beautifully stamped in red across the top. Perhaps I never really paid attention before, or perhaps I was in denial, but it says right there that the total finance charge for the loan was $3,541.90. That added another 25% to the cost of our car. 25%!! What were we thinking back then??
Lesson learned - attempt to purchase next car with cash, if possible.
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Credit Card Debt
- Starting = $37,614
- Paid Off = $28,882
- Current = $8,732
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Posted: September 26th, 2006 at 8:26 pm
Congrats on paying off your car loan, here is my suggestion on how to Never Have Another Car Loan.
Clearly getting out from under your debt first is more important than doing this right away, but once you are out of that hole, this might be worth thinking about.
– Chris