KittehKinsMK6
Ready to race!
Good for you! Another 5 years and I'll be golden myself haha!
6
Paid off!!
- Thread starter Soflogtimk6
- Start date
nvturbo
Go Kart Champion
I would have to agree. Paying off a car and turn around to trade it in for a newer model (along with a new loan) doesn't make much sense but whatever.
Baldilocks73
Go Kart Champion
Congrats. 
Always a good feeling.
Always a good feeling.
urfavoritemazn
Ready to race!
Confuckinggrats man!!!!!
Still have ~3 1/2 years left on mine....haha
Still have ~3 1/2 years left on mine....haha
McQueen77
Banned
yup
Soflogtimk6
Go Kart Champion
I might as well have paid it off now because the MK7 golf R won't be available til about 2016 and I only had 1400 left to pay. Would have been paid off in about 3 months regardless.
Chaos Theory
Passed Driver's Ed
Because rolling potential negative equity into a new car loan somehow makes sense? Or paying interest at a rate faster than investing can net makes sense?
Just sounds like you're hating to be honest.
OP - Congrats!
iGTI1
Go Kart Champion
Everyone scenario is different... But to pay a car off early just to trade it in is kinda silly because everyday and every mile depreciates your payed-off "investment". If your going to keep your car long term... it may not be a bad ideal.
Chaos Theory
Passed Driver's Ed
Very true.
The thing I don't understand is why people do (or are allowed) to roll negative equity into a new car purchase. When I used to work in sales I would see so many people come in with negative equity (whether from a rapidly depreciating vehicle, poor financing decision, or rolling the remainder of a previous loan in to a new one), and be owing upwards of 200 to 300% of their current vehicle's worth!
At the very least it is a good idea to never owe more than your vehicle is worth at any given time.. That way, if you want to trade, or find yourself in a bind, you have some leverage. I use this principle throughout all the vehicle I've owned, and early on it allowed me to buy below market value (I learned what to look for), and sell high a few months to a couple years later. Very rarely if ever have I lost money on a vehicle (and that includes maintenance). However, once I got in to newer cars, and heavy modifications that became another story lol!
nouse4aname
Go Kart Champion
Those destined for financial security ask "how much?"
Those destined for a life of debt ask "how much per month?"
Those destined for a life of debt ask "how much per month?"