January 27, 20179 yr My current situation and it sucks. Although, it's not my credit card debt but my lovely wife's Poor state of mind if that is what you really think. Her Dept is yours!
January 27, 20179 yr Poor state of mind if that is what you really think. Her Dept is yours! Well obviously. I just meant I personally don't have credit cards. I'm aware of what happened once we got married, I accrued her debt as mine.
January 27, 20179 yr Well obviously. I just meant I personally don't have credit cards. I'm aware of what happened once we got married, I accrued her debt as mine. Pay it off and then never charge more than you can pay off at the end of the month. Easier said than done. Paying off our debt was hard, but we were newly married and wanted stuff. We never charged for things we needed. It should work the opposite way. We were stupid. I guess I got off the track of the thread in some ways. Guru, we paid out house off early by adding $100.00 to our monthly payments. It is my understanding that anything you pay above your monthly payment goes straight off of your principle. I imagine it is the same for a car loan, but I am certainly no expert.
January 27, 20179 yr Just pay extra each month, and the amount over your payment will be applied to principle. I always do this with car loans. If you send me an email address, I can send you an excel amortization schedule...plug in your principal, interest rate, term (or I can do for you) and the amount extra, and it tells you when the balance is $0. You can put in different amounts for the extra payment to drive the payoff for when you want. Edited January 27, 20179 yr by doomer spelling
January 27, 20179 yr Author @theguru You need a sugar momma. That would make this situation more simple. I think I am going to need to see pictures first...
January 27, 20179 yr Don't start me on the Unethical Quagmire that Car Dealerships are in this world.You shop a the wrong dealerships...
January 27, 20179 yr Author You shop a the wrong dealerships... Funny thing, I was thinking about this thread last night and I wondered if you were going to blast me about it. Actually with the last four cars I bought I only had a problem with one dealership, the other three were professional. I did have a problem with another dealership and didn't buy from them so 3 out of 5 ain't bad.
January 27, 20179 yr Author And on the one I had the biggest issue with I had a golden recommendation coming in so I have never revealed which dealership. The price was right but they definitely are a little unethical. In my case they decided to make it right but my gut feeling was I was lucky and that most people would have been stuck.
January 27, 20179 yr I have paid off two cars quickly. They were both 48 month loans I paid off in 30 months both times. I chose 48 to have lower payments in case of unforeseen circumstances. On what I thought would be the last payment, I called the lending institution, one was Ford Credit , the other with GM. They told me how much I owed, I paid the last remaining balance by card and had them send me a confirmation email and a letter in the mail it was paid in full. They also send you Title stuffs also. This is critical.. E.G. if my payment was 500, I would pay 850 and they applied it to the principal. That's exactly how I've done/am doing it.
January 27, 20179 yr I had no idea that there were any car loans out there with prepayment penalties. Sheesh.
January 27, 20179 yr I think I am going to need to see pictures first... You're on your own there, pal.
January 27, 20179 yr Author I had no idea that there were any car loans out there with prepayment penalties. Sheesh. That's because you are smart and you pay Cash Money!
January 27, 20179 yr That's because you are smart and you pay Cash Money!Not all of em. I'm actually in a lease on one now. Not sure why I thought it was a good idea.
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