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Auto Loan Gone!

February 3rd, 2014 at 04:03 am

While all of my social network was posting and commenting on who the are going to bet on for the Super Bowl, we did something better, with guaranteed 'returns', used my "extra" paycheck and away it went, along with the auto loan!

The only debt we have is our Mortgage!

We officially own both vehicles:

2007 Honda Civic Si Sedan (PIF: 11/2011, 11 months early, on 60 month loan)
2010 Honda Civic LX Sedan (PIF: 2/2014, 22 months early, on 48 month loan)

5 Responses to “Auto Loan Gone!”

  1. creditcardfree Says:

    Awesome!! Congratulations on being auto loan debt free.

  2. Rachael777 Says:

    (jumping up and down) YAY>>Smile

  3. PatientSaver Says:

    That's gotta feel good.

  4. snafu Says:

    Good on you! Only a small percentage of the population outright owns their vehicle. Does ownership status affect your insurance rate? What is typical deductible in your area? How do those variances affect premiums?

  5. Xtreme Thunder Says:

    Thanks all, feels great! I mean, it felt good with one paid off, but both is even better!

    @snafu: It definitely feels good to own them both outright! I actually called a couple weeks ago inquiring if the insurance rate would drop if the vehicle was paid-in-full, the agent said no, however, collision is now not required. I am keeping full coverage on both, they are still fairly new to remove that coverage. Average deductible in our area is $500. I will keep collision at $500 and comprehensive at $250 and full glass w/ $0 deductible.

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