[Z06] pay off
Thread Starter
Team Owner
Joined: Mar 2005
Posts: 20,933
Likes: 905
From: salem OR
pay off
Anybody paying more each month to get rid of your loan,I have been putting ave $100.00 over and paying early. This cool bank gives your full credit. My payment was $700. now nothing due , but I still pay least $800.00 Loan started at 38500. thats with plates taxes. I will pay off a year at least ahead. and The big thing is.I am not upside down if I had to sell.
Team Owner
Joined: Sep 1999
Posts: 20,054
Likes: 44
From: Swansea IL
My military credit union offers the same option, but I have .9% loan so I'm in no hurry to pay that off early. I'm using any extra $$ to pay down the house.
But either way it's a good thing.
Tom
But either way it's a good thing.
Tom
Pro
Joined: Jun 2004
Posts: 693
Likes: 1
From: Centennial CO
Originally Posted by Rock'en Silver 02
Anybody paying more each month to get rid of your loan,I have been putting ave $100.00 over and paying early. This cool bank gives your full credit. My payment was $700. now nothing due , but I still pay least $800.00 Loan started at 38500. thats with plates taxes. I will pay off a year at least ahead. and The big thing is.I am not upside down if I had to sell.
Drifting
Joined: Jun 2004
Posts: 1,936
Likes: 0
From: Las Vegas NV
Originally Posted by AFVETTE
My military credit union offers the same option, but I have .9% loan so I'm in no hurry to pay that off early. I'm using any extra $$ to pay down the house.
But either way it's a good thing.
Tom
But either way it's a good thing.
Tom
Those military credit unions are pretty handy... I didn't finance my Z, but my wife did finance her car through Navy Federal and she got .5% - which was really fun to hand to the guy in the finance office at the dealership who tried to hit her for a rediculous 10.85% the night before. God bless the Navy.
Melting Slicks
Joined: Apr 2003
Posts: 2,989
Likes: 10
From: Columbus OH
I can't stand having a loan so I paid mine way early. Paid it off in ~20 months (60 months or so loan). Payments were $600 something, the average of the payments I did was in the $2+k range ! The credit union I go with is pretty cool. Any excess payment is automatically applied to the principal, so I didn't even have to include a note with my payment to tell them to apply excess to the principal.
Racer
Joined: Sep 2004
Posts: 404
Likes: 0
From: Camp Pendleton CA
I just pay the payment. Actually I let them draw it right out of my account. I'm in no hurry. Interest rate is so low paying early wouldn't save that much to counter the extra loss per month.
You might want to make sure there isn't a charge for paying it off early either. I pulled out a 3 year loan when I bought my '66 chevelle and went to pay it off 6 months later (After a deployment) they were going to charge me for the full interest anyways. So I said screw you, I'll keep the money.
You might want to make sure there isn't a charge for paying it off early either. I pulled out a 3 year loan when I bought my '66 chevelle and went to pay it off 6 months later (After a deployment) they were going to charge me for the full interest anyways. So I said screw you, I'll keep the money.
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