I will be making my last payment on my 2008 TL-S in 6 days. I cannot wait to be finished paying it off. I have been paying $2,000 a month on the car for the past 19 months and one more payment to go.

I cannot believe it will be 2 years that I have had the TL-S soon.

Well done! That's the way to do it....I'm on the same plan more or less. I plan to have my TL-S paid off within 30 months....so it'll be paid off by Aug. '10.

damn son 2000 a month

damn, big payments!

I figured might as well pay as much as I can while still saving some. That way I do not waste too much money on interest. It will be nice to have the extra $2k a month to put into savings.

^
+2.

Congrats!

I just made my last payment for mine this past Tuesday, 12-1-09.

I just made the first payment on my '08 Type S

Congratulations, car payments suck! Don't go buying another car now just to have a payment again.

Congrats. There is nothing like having no payments.

Who needs payments, when you can just pay cash the first day?

Congrats! $2000 a month payments though? Good job. lol.

I've always wondered, is that a poor financial decision?

No car payment is priceless, literally! Congrats and enjoy the feeling of payment freedom.

I've had my type-s for 2 & half yrs now ...

Don't hate.

Congrats Mike, now you will REALLY enjoy your Type S.

There are far worse financial decisions than either paying cash for a car or paying it off early.

I paid off my 2.9% loan early since I could not safely earn a higher return with a CD or other means with the same terms (6 months remaining @ 2.9%). People always think they can do better things with their money but few actually do.

It was a no-brainer taking a 2.9% car loan in 2006 when I could get a 4.5% CD. Now it's a different story because 2.9% is high compared to what 1 yr CDs @ 1%

So paying off a 5% or greater car loan is a smart thing to do for most people who are employed and have additional savings. It's like taking out a CD that pays your APR risk-free and even better with tax considerations factored in.

Shoot our house is even paid off so I may be a true idiot to some people having so much equity tied up in a home, but it certainly makes me sleep better at night.

Congrats and well done. Getting out of any debt ASAP is a smart financial move especially seeing's most banks now are only paying 1% interest on savings.

Nice. Im doing the same except i just started making payment 6 months ago.

Congrats OP!

Damn congrats...2k a month man...do you pay any other bills? What do you do if you don't mind me asking?

Yeah I pay other bills. I do have the help of having a dual income with my wife. I run a data recovery company.

Congrats & 4 days!

lol

IMHO always smart to pay as much as possible, interest sucks, we paid 80% on our house a year ago and just refinanced to get 4.3% lowering the payment by almost 100 per month which I intend to put towards the principal, they wanted to give me 1k cash out & I said no.