My wife got her driver's license last year, so we bought a new Honda Fit for her to drive. We paid a significant down payment, and put the rest on a two year loan (the salesman from the Honda dealer called me when processing the sale to confirm we really wanted the two year, since most people go for the five year).
I detest paying interest.
We've been paying as much as we reasonably can each month, and got the loan paid off at the end of October. The title came in the mail the other day, and it feels good to know that it is now actually "our" car. It makes my blood boil to think about the fact that over the last year and two months we've paid roughly $500 in interest.
The next goal is to keep my car running long enough so that we can save and pay for our next car in cash.
I detest paying interest.
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Another day older, another day wiser...whoopty doo.
2 comments:
I hate paying interest, too. Although we've never been able to manage owning both of our cars free and clear, we've always managed to have one paid off.
Congrats!! What a great feeling!!
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