Im paying her off today

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Aug 18, 2008

n0thing43

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Joined: May 2007

Posts: 66

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From: Cleveland, OHIO

Im paying her off today

Im excited to say that I'll be paying off my Ranger today! I took delivery April 29th 2004, and now she's all mine!.. It will be nice not to have the payment anymore. Im honestly surprised I still have this Ranger, usually end up trading vehicles in every couple years. I think I'll be keeping this Ranger though, I hope the long term reliablity is better then the initial quality was! Now I have money for a Harley Davidson, or maybe a nice used Jeep Wrangler?...

Aug 18, 2008

john93rangerstx

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Joined: Mar 2008

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From: WARWICK RI

that will be nice extra money now

Aug 18, 2008

Silver

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Joined: Jun 2006

Posts: 2,708

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From: edenton,nc

congrats

Aug 18, 2008

Machine090767

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Joined: May 2006

Posts: 6,410

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From: Minnesota

congratulations.

Aug 18, 2008

zabeard

who?

iTrader: (8)

Joined: Nov 2004

Posts: 26,044

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From: IN

sweet, it will feel even better when the title comes in the mail!

Aug 18, 2008

Brit-ranger

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Joined: Jul 2005

Posts: 651

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From: USA

It's a good feeling to have no payments.

Aug 18, 2008

dj wayne

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Joined: Jul 2007

Posts: 737

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From: Ohio

Congrats !!

I've got 3.5 years left on a 5 year loan on my 2003 Ranger XLT. I'm planning on paying it off then just keep it for many years after. I'm keeping the mileage down low and the maintenance regular, cause I want this truck to last a long time after I get it paid off.

Aug 18, 2008

Goodysgotacuda

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From: Las Vegas, NV

3 years in jan left on mine. plan to pay it off in 2 though! (if i keep it)

Aug 18, 2008

Rolldogg

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Joined: Jan 2006

Posts: 3,424

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From: Ottawa, Ontario

It's a good feeling for sure. I just paid mine off in June and I bought it in 2003. It's good to have that extra $$$$ in your pocket every month.

Aug 19, 2008

#10

Prerunner-Ranger

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Joined: Feb 2008

Posts: 2,313

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From: Lancaster, CA.

Grats.
I still owe 9k
=(

Aug 19, 2008

#11

bwester04

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Joined: Mar 2006

Posts: 2,641

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From: Round Rock, Tx

Pay mine off while you're at it! lol Congrats.

Aug 19, 2008

#12

Unregistered User

Posts: n/a

Quote:

Originally Posted by n0thing43

Now I have money for a Harley Davidson, or maybe a nice used Jeep Wrangler?...

Chuck.. I say this as a ' Friend '.

Change your thinking.

Take what you were paying to a bank for the note/loan and pay it to yourself. Buy a short ( or long ) term cd or bond every month.. even put it into a savings account. Do this for 2 years.

Pay YOURSELF instead of someone else.

After 2 years, you will have more to put down and thus finance less ( saves you even more ).

The same principle applies if you only put away half of that ' ex-payment ' but its not the full-effect in the long run.

If its monies you can afford to put away ( it was in your present budget, why not keep it in the future but pay interest to yourself ) instead or acquiring more debt?

We all WANT our ' toys ', but things aren't looking good for the next 2-3 years on financing anything. Market LOOKS week and with all the doom preachers out there, the note from that Harley might be bought by someone else and the terms of it COULD be changed. Why risk it? Its better to wait and stash-the-cash.

With the Amount of bankruptcies being filed, my place sees no fewer then 50 Harleys a month rolling through the Auctions. They go cheap as the banks are trying to re-coup anything they can. I saw a nice Harley with an 88ci engine ( I believe it was a softtail.. ) 2006 go for under 5 grand!