Paid Off the Car!

We paid off the car today!

After 2.5 years the Corolla is paid off for good. We bought it in January 2016 as a used car and only because D’s car died on him. He had a 2001 Honda and it had finally reached its last leg. I had just paid off all my debt four months prior, so taking on a new debt killed my soul, but we didn’t have any other options. It barely made it to the dealership where we “traded it in”; we told them we weren’t taking it back and it was their problem now. It was smoking when we brought it in and they gave us $500 towards the new car for it.

We had money set aside, but it was a very busy year. We got married in October 2016 and bought our first home in February 2017, so a lot of our spare money was going to either of those two things versus the car payoff. Plus, this was our first house and we needed to furnish more rooms than before since we were coming from a two-bedroom apartment that basically had our furniture from our separate apartments (they did not go together and were falling apart). Then, I also ended up switching jobs in March 2017 so that affected our saving as well.

Going from the original $19,400 loan to $0.00 is nice. We basically took the money that we would have used towards things for the house that we didn’t really need, or vacations, and put it all towards the car. Same goes for bonuses and any extra income we got. Thankfully, 2017 was a good year for us.

One big step in the right direction. Only debt left is a relatively small loan from the bank, some charges on one credit card, and the mortgage. The loan and credit card should be paid off by the end of September. The mortgage will be a beast to take on but paying it off early was always the plan. 😊

Thought I would share the good news!