anniversary
Two years ago today I bought my car. Today I pretty much owe the sticker price. That means that it took me two years to pay off the interest and I am just now getting around to the principal. That sucks. I have what I’ve seen referred to as a "car mortgage." If I continue to pay the car off by making the monthly minimum payments, it will have taken me five and a half years to pay my car off. Now, I did need a car to replace my old one, and my reasoning was that if I was going to buy a car, I might as well get one I liked. And I like my car - a lot. I got a decent interest rate with my credit. I did the research on what a reasonable deal might be, and I think I got one. But:
I still feel like a sucker. Five and a half years is just too much.
Yeah, I’m ashamed to admit that I did this to myself. But you know what, it’s cool. Because I don’t plan on taking five and a half years to pay this car off. It’s my next project after getting into my own home. It will take me less than a year to pay for it outright. And then it will be my car for years and years and years. ‘Cause it’s going to take me that long to save enough money to get my next car by paying for it outright at the dealership - no credit, no monthly payments, no interest above and beyond the sticker price. You live, you learn. I’ve learned. I’m not interested in financing again.
