Our van is paid off!!!

[pklein09]

Just wanted to share....our van is paid off as of Sept 21 (that's the day I set the money transfer)!!! We had a 60 month loan and paid it off in 26 months. DH had some small bonuses we put towards it and I paid extra when I had extra. Well, DHs bonus this year was better than we expected, and we had enough after taxes and 401K deductions to pay it off. That money can now be directed to savings .

 

[disny_luvr]

YAY! I am sure that is a great feeling! The only debt we have is our van loan and mortgage. We have 12 months left on our van loan. My hope is to put DH's Christmas bonus towards that loan to hopefully pay if off a few months early.

 

[AnjieNet]

Congratulations! It's a great feeling isn't it?

 

[CaliforniaDreamin]

High five! Now go out to eat and celebrate! You deserve it!

 

[donaldandpirates]

Congratulations!!!

 

[abcboys]

Isn't it great? We paid off DH's truck 2 months ago and now we also are car payment free!! My van has been paid off for a few years but it is a '99. I'd like to drive it for at least another year or 2 but its starting to need some work here and there. Still beats another car payment

 

[puakinikini]

Just wanted to share....our van is paid off as of Sept 21 (that's the day I set the money transfer)!!! We had a 60 month loan and paid it off in 26 months. DH had some small bonuses we put towards it and I paid extra when I had extra. Well, DHs bonus this year was better than we expected, and we had enough after taxes and 401K deductions to pay it off. That money can now be directed to savings .

This would have been true for us in Dec. 2011, but in April 2011 our van's transmission went out. So we ended up getting a "new" van with a 60-month loan. Sadly we have 57 more months to go! I had hoped to drive that van without a car payment for a few years, but it was not in the cards.

Congratulations!

 

[StephMK]

Congrats!!!

 

[princessfionasmom]

That's awesome!!!!!

 

[kwhite1022]

Congrats! I on the other hand just drove my "new to me" van today! We had paid off our other van in May, had 4 months of no payments, and got in a car accident on Laborday Weekend.....hence the need for a new van. Im not thrilled with going back to a payment, but I have to say I love the new van. Oh and hubby said he'd drive this one to Disney, where as he wouldnt with our other van, so that may help me get to Disney this year

 

[disneyfreakk]

Way 2 GO!!!

 

[Riles_and_Gabe]

That is awesome! What a wonderful feeling.

 

[pklein09]

Thanks for all the kind words and support . DHs car was paid off before we purchased the van. We try to stick to one car payment at a time; double car payments are just a killer. We tend to purchase a new car every 5 years, one for DH and then one for me, keeping each car for 10 years. The van is a Toyota and we hope to keep it for more than 10 years, but it's just over 2 years old with 48K miles already I drive a LOT with 4 kids.

kwhite....we wouldn't have driven our other van to Disney either, but this one has already been there 3 times!!! The one time we wanted to do a long distance trip in our other van, we rented one for the week.

Now to set up the automatic transfer to money from the checking account to the savings account instead of Toyota Financial....

 

[Maddies Mama]

That's great! Life is a little better without car payments

 

[Plumeria9]

Thanks for all the kind words and support . DHs car was paid off before we purchased the van. We try to stick to one car payment at a time; double car payments are just a killer. We tend to purchase a new car every 5 years, one for DH and then one for me, keeping each car for 10 years. The van is a Toyota and we hope to keep it for more than 10 years, but it's just over 2 years old with 48K miles already I drive a LOT with 4 kids.

That is great! That was me 4 years ago, and I'm still driving the same van. ha ha! I like your method of every 5 years. When we bought my Honda Ody 9 years ago that was my very first new car! At age 35! We had some hand me down cars and other cars, never had a car payment until then. So we didn't have a plan on when to buy new cars. DH bought a car 2 years after, so we have to straighten out our buying strategy because I want a new car soon. I don't have a lot of miles, only 80k in 9 years. But, I had to buy a new tranny this summer, which was a real PITA because I want a new car and now I probably have to wait at least 2 years because of what I just paid to get my 9 year old van working again. Other than the tranny everything else looks pretty good, so I couldn't justify scrapping the van. Well good luck, have fun saving your money!