FiaCobra Posted June 4, 2013 Report Share Posted June 4, 2013 Feels good not to have an auto loan anymore. KR is paid off as of today. Going to take a break before I seek out another loan ! Link to comment Share on other sites More sharing options...
sheppd01 Posted June 4, 2013 Report Share Posted June 4, 2013 Link to comment Share on other sites More sharing options...
Grabber Posted June 4, 2013 Report Share Posted June 4, 2013 Feels good not to have an auto loan anymore. KR is paid off as of today. Going to take a break before I seek out another loan ! That indeed is a great feeling. No Auto loans ! Once you eliminate all debts.....the feeling is even better. In fact it feels so good that it teaches you to never borrow money again and just pay cash for everything. ....and if you don't have the cash....then you don't need it. Very simple philosophy. Link to comment Share on other sites More sharing options...
FiaCobra Posted June 4, 2013 Author Report Share Posted June 4, 2013 That indeed is a great feeling. No Auto loans ! Once you eliminate all debts.....the feeling is even better. In fact it feels so good that it teaches you to never borrow money again and just pay cash for everything. ....and if you don't have the cash....then you don't need it. Very simple philosophy. You're right. I'm about to close on my 2nd real estate deal with cash. You have power when you're holding cash. The banks are horrible to deal with now a days. I'm paying off all my debts now. Link to comment Share on other sites More sharing options...
Captain Beyond Posted June 4, 2013 Report Share Posted June 4, 2013 Congrats. :beerchug: Mine was paid off the first day I got it. B) Link to comment Share on other sites More sharing options...
dh777 Posted June 4, 2013 Report Share Posted June 4, 2013 Congratulations!! :happy feet: Link to comment Share on other sites More sharing options...
Grabber Posted June 4, 2013 Report Share Posted June 4, 2013 You're right. I'm about to close on my 2nd real estate deal with cash. You have power when you're holding cash. The banks are horrible to deal with now a days. I'm paying off all my debts now. Right on !!!! Link to comment Share on other sites More sharing options...
robertlane Posted June 4, 2013 Report Share Posted June 4, 2013 That indeed is a great feeling. No Auto loans ! Once you eliminate all debts.....the feeling is even better. In fact it feels so good that it teaches you to never borrow money again and just pay cash for everything. ....and if you don't have the cash....then you don't need it. Very simple philosophy. Rob - you are right. We're virtually debt free too. Link to comment Share on other sites More sharing options...
Larry T Posted June 4, 2013 Report Share Posted June 4, 2013 Congrats .... feels awesome !!! Link to comment Share on other sites More sharing options...
ShelbyKR664 Posted June 4, 2013 Report Share Posted June 4, 2013 +1. Link to comment Share on other sites More sharing options...
judgeman6970 Posted June 4, 2013 Report Share Posted June 4, 2013 Congrats. I wont be paying off my mortgage anytime soon, but I'm planning to have "zero" other debt....will feel good!! Link to comment Share on other sites More sharing options...
SGT0767 Posted June 4, 2013 Report Share Posted June 4, 2013 For us, the SGT was paid of last year, our mortgage is paid off in a couple of months, the 500 will be paid off next year , and the KR the following year. Then we'll be free and clear except for a little thing like two kids starting college. Link to comment Share on other sites More sharing options...
Doug_GT350 Posted June 4, 2013 Report Share Posted June 4, 2013 I envy you...... I don't have to worry about being debt free.... I'll need a loan to bury my ashes! Link to comment Share on other sites More sharing options...
2010KonaBlueGT Posted June 4, 2013 Report Share Posted June 4, 2013 For us, the SGT was paid of last year, our mortgage is paid off in a couple of months, the 500 will be paid off next year , and the KR the following year. Then we'll be free and clear except for a little thing like two kids starting college. I paid cash for my house so no Mortgage payment. I paid cash for both of my Harley-Davidson's so no bike payments. I paid cash for my GT500 so no car payment. I paid my Raptor off after 2 mos. of bank payments after I realized how much interest I was paying PER MONTH ("Interest up front...BLAH!) and how expensive it was to use someone elses money. And yet...I still have ~$2500 in monthly utility bills! (Cable/Internet/Phone, Cell Phone, HOA dues, Prop. taxes, Gas/Water/Elec/Sewer, Vehicle Insurance, blah blah blah). It never ends however I suppose it could be worse, with a Mortgage payment and two car payments. Phill Link to comment Share on other sites More sharing options...
Grabber Posted June 4, 2013 Report Share Posted June 4, 2013 And yet...I still have ~$2500 in monthly utility bills! (Cable/Internet/Phone, Cell Phone, HOA dues, Prop. taxes, Gas/Water/Elec/Sewer, Vehicle Insurance, blah blah blah). Yep....these never go away. I have another bill on top of of those. It's called "wifey". ...... But I must say that I truley do get my moneys worth out of her. :happy feet: Link to comment Share on other sites More sharing options...
2010KonaBlueGT Posted June 4, 2013 Report Share Posted June 4, 2013 Yep....these never go away. I have another bill on top of of those. It's called "wifey". LOL...I'm fortunate. I pay my own way and she pays her own way. Although the monthly utility bills noted are all paid by me myself and I. But then again, it's solely MY house and Vehicles too! Phill Link to comment Share on other sites More sharing options...
ViperNC Posted June 4, 2013 Report Share Posted June 4, 2013 Paid off = more $$$ for mods! Congrats. Now go have some fun in your car. Link to comment Share on other sites More sharing options...
FENCEKR Posted June 5, 2013 Report Share Posted June 5, 2013 Sweet, even though being debt free is a good thing, now a GHIG GT350 will fit in your monthly budget. LOL, Im just saying. Link to comment Share on other sites More sharing options...
Grabber Posted June 5, 2013 Report Share Posted June 5, 2013 Being debt free is one of the key requirements to retiring. Link to comment Share on other sites More sharing options...
2010KonaBlueGT Posted June 5, 2013 Report Share Posted June 5, 2013 Being debt free is one of the key requirements to retiring. Yep, it's the ONLY way I was able to retire. Not having a mortgage payment is like having another $1800 per month in income. Prop taxes are $1100 per year so just under 100 bucks a month, plus HOA dues ($33 per. mo.) so in essence, I pay $130 per mo. for a brand new 4 BR/3.5BA 3 car garage home. Selling a house that was all but paid for, in THE most overpriced city in the USA, right at the TOP of the Real Estate boom didn't hurt none either! Phill Link to comment Share on other sites More sharing options...
ViperNC Posted June 5, 2013 Report Share Posted June 5, 2013 Selling a house that was all but paid for, in THE most overpriced city in the USA, right at the TOP of the Real Estate boom didn't hurt none either! Phill Timing is everything. We sold our previous house near the bottom, broke even, and turned around and bought our existing home at the bottom. 3.25% fixed rate and been laughing ever since. No debt is "good debt", but I don't worry much these days. Being able to spend money on my GT500 and sleep well at night..... PRICELESS! Link to comment Share on other sites More sharing options...
vandy09 Posted June 6, 2013 Report Share Posted June 6, 2013 i envy you all. every time we get a step ahead we get kicked in the teeth. hopefully working 3 jobs and 7 days a week will pay off and get ahead at some point congrats on the pay off. i hope to be there one day lol Link to comment Share on other sites More sharing options...
YZD263 Posted June 7, 2013 Report Share Posted June 7, 2013 Congrats on paying off your KR! I agree with most posters here. Being debt free is a great advantage as it give you both flexibility and peace of mind. I've tried to be disciplined with my money since my first job, pay off my mortgage and my car loans as quick as I can, and save as much as I can in my RRSP (Canadian equivalent of a 401(k)). Now, I'm mortgage free and can now contemplate retirement at around age 55 (still 7 years left...) if I chose to do so. This will give me more time to drive the KR and enjoy life! Link to comment Share on other sites More sharing options...
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