Car Paid Off

Thirty-six months ago, I bought out the lease on my VW Golf for around $10k. I played one lender off another and eventually got a 4.13% interest rate. I could have paid cash for it, but at those rates it made far more sense to finance.

Lo and behold, the car is finally mine. My last payment was July 19th.

I don’t care much for the car anymore, but I’m going to like it a lot more without the $280/mo. I’m going to shunt the free cash flow into a money market account so I won’t even notice a difference.

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3 Responses to “Car Paid Off”


  1. 1 Dad August 2, 2006 at 9:07 am

    I think its a fine car with low miles. Being wwithout a car payment is a very good thing.

  2. 2 Kevin August 4, 2006 at 8:29 am

    Mark, your DAD thinks it’s a good car – now you have to get rid of it! πŸ™‚ Here’s a suggested replacement – it might take a bit longer than 3 years to pay off, though: http://www.automobilemag.com/multimedia/photo_gallery/0607_2007_ferrari_599gtb/

  3. 3 Mark August 6, 2006 at 3:42 pm

    Kevin, That happens to be *Kassidy’s* favorite ferrari. I’m a 430 fan:
    http://en.wikipedia.org/wiki/Ferrari_F430

    I have a simple rule which keeps me honest: never drive a car that is worth more than 25% of your home.

    Crap, now I need a $250k Ferrari *and* a million dollar pad. Doh! πŸ™‚


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