Last week the final payment was made on Inara, my 2007 Dodge Magnum. All it took was 48 payments to the bank and … PAID IN FULL.
I don’t like making car payments, loving to drive cars that are paid for. It’s just not always possible, it seems. This means all three cars in the driveway are debt free. It also means the have a lot of miles on the odometer.
Inara will see 200,000 miles within the next month, Ingrid is creeping up on 131,000, and Sarge is anyone’s guess. We believe Sarge’s mileage is actual, but its been a hard 60,000+ miles.
I know people that make car payments that total more than my house, but I’m not that kind of guy. Investing that much money in a depreciating asset go against my better judgement, so … I buy used and pay off as fast as I possible.
What are your thoughts on cars and payments? I’m curious.