| jestmaty |
Had a little bit of extra $$ and decided to pay off the Pilot a year early :D :D
Simple interest 20K loan started on June 12, 2004 and was to end on June 12, 2009. I was down to about $4200 to pay off and went for it!
Each payment of $360 was about $345 principle and $15 interest, so I only really saved about $180 over the next 12 months.
The way my investments and mutual funds have been going lately ( losing money :mad: ) I didn't put that $ into an investment, just freed up some monthly cash flow for gas and stuff.
I mentioned before on hp.org that my situation was something like $360 for car note, $65 for insurance, and maybe $250 in gas each month. $575 to own the Pilot exluding maintanence and yearly registration/inspection fees.
Now it is only about $315 for gas and insurance.
Funny thing is... last month's statement had a little insert which said something like " Now that you're in the end stages of your car payments, now would be the perfect time to visit a local Honda dealer to see the new vehicles and buy another Honda ( and to finance it of course! ) :rolleyes:
Everyone seems to want to stick their hands in your pockets to grab all the money they can!!!!!
Financially a good move? I don't know if pay off early was wise, but it is done now. I didn't have a car note since I last paid off my 1991 Crxsi in 1995.
So when I bought my Pilot in '04, I got back in the car note business.
I'll clean 'er up tomorrow and take a pic of MY OWN Pilot !! |
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| humanoid |
| Congrats! I'm about 3K away from paying off my 2005. I've been doubling up on payments every month to pay as little interest as possible. Anyhoo, can't wait to have it all paid off! Then it'll be time to search for a more economical car. |
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| jestmaty |
quote:
Originally posted by humanoid
Congrats! I'm about 3K away from paying off my 2005. I've been doubling up on payments every month to pay as little interest as possible. Anyhoo, can't wait to have it all paid off! Then it'll be time to search for a more economical car.
Do you mean you'll get rid of your Pilot when you pay it off? I'm not sure what an '04 or '05 Pilot would fetch these days.
It can't be much. I mentioned in another thread that not having a note frees up a lot of $$$ for gas. You're on track to pay off your 3 year old Pilot soon.... think of the first month you don't have to shell out all that money on your payment.
That may make the price of gas not sting so much. I think gas was probably around $2.50 per gallon when you bought your Pilot, so $4 isn't so far off :3: Don't get me wrong, I do NOT like having to pay $4 and divide my driving between my 240SX ( 17 years old and gets 23mpg ) and my Pilot to ease my gas bill. |
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| humanoid |
| I'm actually going to be keeping the Pilot and maybe getting rid of my Toyota Tacoma. It gets so-so mileage, about 19-20 MPG or so. I'll drive the Pilot and the wife may get a new car. Although we've got a friend with a 1998 Lexus GS300 in pristine condition that we might get instead. We had a '92 GS and that thing was sooooo fun to drive with the inline 6 cylinder, felt like a V8 at times, but it took premium unleaded, ugh. :mad: |
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| rocky |
Just paid off my 05.
Gimme the title!
No car payments for many years to come I hope! |
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| jestmaty |
quote:
Originally posted by rocky
Just paid off my 05.
Gimme the title!
No car payments for many years to come I hope!
Congrats to both of us Rocky!!!
It still hasn't sunk in that it is paid off. I suppose when the title shows up, then I'll feel the elation!
This latest pay-off means that I have the titles to my '04 Pilot, '04 Pontiac Vibe, my 1991 Nissan 240SX, a 2006 Fleetwood pop-up camper (hard to believe they title pop-ups :confused: ), and finally my 2005 Bayliner boat!
I do pay quite a few fees for registrations on all these vehicles each year. Luckily the boat only gets registered every other year. |
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| jdeanski |
quote:
Originally posted by jestmaty
Had a little bit of extra $$ and decided to pay off the Pilot a year early :D :D
Isn't this a "co-inky-dink. I paid off my 04 last week too! Now if I wasn't planning a major addition to my house I'd probably be looking at getting an 09 about year end! |
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| 2garfields |
| Just paid it off last Friday, should have MY title within next few weeks. |
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| jestmaty |
quote:
Originally posted by jdeanski
Isn't this a "co-inky-dink. I paid off my 04 last week too! Now if I wasn't planning a major addition to my house I'd probably be looking at getting an 09 about year end!
Wait! Wait!!!
I just noticed that you have an '04 Vibe also! I enjoy driving my wife's vibe as much as my Pilot. 25 MPG doesn't hurt either :4:
We bought 'er back on Halloween day in 2003 as an '04 model.
It was a cash deal ( thanks to God for blessing us ) and we drove away that day, almost 5 years ago with a brand new vehicle and no car payment!
I just washed and hand-waxed the Vibe this weekend and it looks great still!! |
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| danandcarol |
| Paid my '05 Pilot off last month (3 years early). Got the title in the mail last week. I have to say that I won't miss that payment. Will I trade it in now and get something else? No way. I love my Pilot as much as the day I first bought it and I plan to drive it till the wheels fall off (no time soon, I hope). As for gas mileage, mine is pretty good (24 MPG), but I just consolidate my errand trips to save gas. I haven't figured out a way to avoid the trips to work yet ..... |
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| rocky |
quote:
Originally posted by rocky
Just paid off my 05.
Gimme the title!
No car payments for many years to come I hope!
Have title to my Pilot, free and clear!
Yeehah! |
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| jdeanski |
quote:
Originally posted by rocky
Have title to my Pilot, free and clear!
Yeehah!
Can you believe this! Got a letter today from the lender saying I will receive a "satisfaction of lien" from the state of Florida but if I want a title I must request one!!! |
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| jestmaty |
Guess what I didn't have to do today?
Make a car payment!!
Let's just hope Ike doesn't take it away!!! |
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| andyschneider |
This is another strange parallel :D
Our '06 Pilot LX is on lease till early '09. It's been the vehicle the middle son uses while home from college to haul his music gear in. He hates driving the Pilot (height bothers him, and the mpg's aren't great when he has to buy the gas), so in the spring we're gonna help him get another ride once the pilot is gone. And the car that's high on his list to get is a - Vibe!!! Suits his space needs and the mpg's should be more in line with what he's wanting. Will let folks know what direction this goes in - but was funny to see this thread today (although my payments on the Pilot will stop - but I've got no equity when they stop - but for a $0 down lease and mid $200's monthy use payments, it's been a good vehicle to have)
andy |
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| jestmaty |
I'm sure you know the Vibe is a Toyota product badged as a GM Pontiac.
Personally, I think the Vibe has always looked better than the Matrix.
You get relatively high mileage with the 2003-2008 models. I've read that the new edition's mileage drops slightly. And you get Toyota reliability to boot!
I have the best of both worlds.... a Pilot and a Vibe. |
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| andyschneider |
Yep - knew the Toyota/Pontiac connection - actually looked at one a few years ago, but needed something bigger. But if you stack both side-by side, the Pontiac adds a few more options for a similar price - and being a Pontiac, they knock more off of the price. He wants to get a new vehicle to be his during the last 2 years of college with his co-ops and then into a new job - so if he's willing to help out, we'll meet him half way. We'll see what we end up doing in the late winter. If we find a decent used one with low miles, we may go that route.
andy |
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