Who has their Camaro paid off?

[Olddudesrule]

Originally Posted by failshift

I like how everyone acts like its nothing at all to save/have 40k cash.......


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SLP supercharged 2013 SS/RS 1LE VR
Full front half protected by Xpel PPF
Instagram:@Failshift
550hp/540tq @8.6psi
1LE Owners Group:
https://www.facebook.com/groups/559684050767758/

I to didn't read into anyone saying it was easy. Like some other's I'm a bit older, buy used exclusively, and pretty much roll the sale of one car into the purchase of another. I appreciate how hard you have to work to put $10K in mods into your car, something I don't have the cash to do right now. Enjoy, brother....

[failshift]

Originally Posted by Olddudesrule

I to didn't read into anyone saying it was easy. Like some other's I'm a bit older, buy used exclusively, and pretty much roll the sale of one car into the purchase of another. I appreciate how hard you have to work to put $10K in mods into your car, something I don't have the cash to do right now. Enjoy, brother....

Just a lowly ole city worker

[Redrocker1958]

Its not how much you make..its how you spend it..in march of 2015 I bought a $700 ski boat..sold it and bought n sold 7 more and in Oct 2015 i had made $25k cash in profit. Just kept flipping..sold the last 2 a 2010 manitu pontoon and 2000 bayliner ski. Paid for every weekend on the water...never owned a boat b4..with that 25k bout my 2010 one owner 2 as/rs Camaro w/21k miles for 17.5k. Spent the rest of the 7500 hun on mods. I now own a one bad ass 550hp 6sp iconic muscle car
Never once used any money from my 40..the orig $700 was profit I made selling aquariums.yea I had to deal with a hell of a lot of e-idiot n craigslist morons to buy n sell all of it..but I'm a flipper w/o a reality show

[PalmerGA]

It was paid off when I drove it off the lot!

[WHEELS-7207]

I paid mine off

[Kendall421]

Good debate, but really no debate needed. We are all in different situations, different phases of life, different careers, different mind sets on investing vs getting to a debt free life style.

I am 49 and have been on both sides of the fence! I bought my 1982 Z28 in 1986 when I was 19. (I still have it too! 30 years later!) I had no money and no credit. I was a full time student with 2 jobs paying my way through school and making just enough extra to afford the small amount my dad required. It took me 4 years to pay off a $6500 loan to my dad! Things were tough man, I was lucky I had a great car guy dad to help me out!

I worked hard to pay off my college loans, get married, buy a house, finance a truck to drive, lease a car for the wife, and start a family. We made payments on EVERYTHING! Nothing was paid off or paid for in cash! We just couldn't do it. So...all of you here that cannot do it...I FULLY understand and respect that. Just the phase of life you are in. You may never be able to pay cash for these kinds of things, and that is just fine!

As for me, I stepped out on a limb 17 years ago and changed careers to one I thought would make me more money. It did...marginally. So 12 years ago I made a big leap and went on my own...starting my own company. I ate out of brown sacks and stayed at Motel 6 or Super 8 for the first couple years. Had to do that again in 2009/10 during the major downturn...I almost closed up shop! Luckily, the last 5-6 years have been very good for business. I have been able to pay off all my debt except my house...and buy my last 4 vehicles with cash. I now have 7 cars! LOL Ya, I am a car whore! Buying another one next month. I will have my house paid off by the end of 2016 as well...seeking that debt free life! At least for a year because my daughter starts college in 2017! LOL I paid for my son to go to college too...but he is paying me back. I paid for my college...my kids will pay for their education too! I have also been able to invest well with a good financial advisor.

There are 2 schools of thought on paying cash or taking the low interest loan and investing the difference. Problem is...those who say they would rather take the $40K and invest it...almost none of us have the discipline to really do that! If we have it, we will likely spend it on something we want. So, I would rather pay off the car, not make ANY payments because I HATE having to make any monthly payments. I want my income to go totally into my bank account and investments! My financial advisor tells me to give him the money I have set aside to pay off 4.25% loan on my house and let him make me 8%. But...that is a risk...bottom could fall out of the market and he could lose 15%! It's too volatile. If he made me 8%, I am only truly making 3.5% due to my home loan. So, on the advise of my accountant, who says debt free living is the BEST way to go! Nobody can ever take it away...you own it! Even in recession...you own it! Peace of mind. So I will pay off the loan, then invest and get that full 8% if that is what he can get me! LOL My credit score being almost totally debt free and paying off ALL credit card bills every month in full is still only 796. I would expect it to be over 800. But at the end of the day, I really don't care. I am 49 years old. If business stays good for the next 10 years, I will live the next 10 years debt free, never have to borrow another penny from anyone, and retire early! That is IF business stays good and there are no major life events that set me back...as someone here mentioned, statistics show it can happen.

End of the day...borrow where you have to. Get an education...that too is something nobody can ever take away from you. Dual college degrees and nobody can take that away from me. Took a risk and self employed...no further education will take me any higher. Work hard and take calculated risks in life...risks that you can see have good odds of getting you ahead in life. Don't just work to live, but build a life.

Enjoy life and enjoy these beautiful cars my Camaro friends...no matter how you have to do it!

[Indydriver]

I had a $14K trade and was prepared to pay cash for the difference. But, my son needed a car and with six figures of school debt was being quote 6-7% on car loans. When the dealer offered me 1.6%, I decided to take it and loan it to my son. So, he got my interest rate and we both got our cars. I'm paid up six months in advance on my payments so no repo here!

[Skyset]

Bought mine in full

[OHIOSS]

Ordered my SS on 12/10/2008, received it on 6/17/2009, paid in full on 1/14/2014. All of our boats, cars, toys, etc. are paid in full with no payments on anything but the house payment for another 3 years.

I had fully intended on buying a new Corvette Z06 when everything else was paid off but my wife has me convinced that I shouldn't be wanting to pay for anything except putting as much away towards retirement that's possible. I reluctantly agreed with her but not working is certainly more attractive than having a new Z06. I never thought those words would come out of my mouth!

[JerTM]

Originally Posted by failshift

I like how everyone acts like its nothing at all to save/have 40k cash.......


•••••••••••••••••••••••••••••••••••••••••••••
SLP supercharged 2013 SS/RS 1LE VR
Full front half protected by Xpel PPF
Instagram:@Failshift
550hp/540tq @8.6psi
1LE Owners Group:
https://www.facebook.com/groups/559684050767758/

I bought my low mileage 2011 2SS/RS for $21k last fall. Just because brand new they were expensive doesn't mean they are still that much. I spent almost double what I did on my Camaro on my 15 Silverado, I'm making payments on that one.

[Pluto]

Originally Posted by OHIOSS

Ordered my SS on 12/10/2008, received it on 6/17/2009, paid in full on 1/14/2014. All of our boats, cars, toys, etc. are paid in full with no payments on anything but the house payment for another 3 years.

I had fully intended on buying a new Corvette Z06 when everything else was paid off but my wife has me convinced that I shouldn't be wanting to pay for anything except putting as much away towards retirement that's possible. I reluctantly agreed with her but not working is certainly more attractive than having a new Z06. I never thought those words would come out of my mouth!

Ha you ordered it on my birthday.

[Pace]

Just paid mine off. Such a great feeling. Now just need to send title back in to dmv to get my ex wife removed. Last thing we had in common. Been modded since day one. Tuned after the first month.

[two_wheel_mayhem]

Sticking to the topic it's wonderful when you make that last car payment, especially if you are financially smart and there's a lot of life left in your vehicle. I drove my Dodge Ram for 11 years after I paid it off, yay me. Then I sold it for 35 threw in some cash on top and bought a 2004 Silverado.... good enough for me I'm hoping to get 5 years out of it.

Two things I've done in my life I'll probably never do again : Buy a brand new vehicle and buy a vehicle on payments.

I never planned on having a Camaro SS in my garage, I am after all a motorcycle person. I stay humble as what you are blessed with can be taken away at a moments notice. As far as credit I haven't used it in a good number of years. This was a mistake, now I have no credit history so I have to rebuild it to even get a decent credit card.

So don't pay cash for everything, but also don't finance everything to the hilt.

[Pluto]

Originally Posted by two_wheel_mayhem

Sticking to the topic it's wonderful when you make that last car payment, especially if you are financially smart and there's a lot of life left in your vehicle. I drove my Dodge Ram for 11 years after I paid it off, yay me. Then I sold it for 35 threw in some cash on top and bought a 2004 Silverado.... good enough for me I'm hoping to get 5 years out of it.

Two things I've done in my life I'll probably never do again : Buy a brand new vehicle and buy a vehicle on payments.

I never planned on having a Camaro SS in my garage, I am after all a motorcycle person. I stay humble as what you are blessed with can be taken away at a moments notice. As far as credit I haven't used it in a good number of years. This was a mistake, now I have no credit history so I have to rebuild it to even get a decent credit card.

So don't pay cash for everything, but also don't finance everything to the hilt.

I cannot wait to pay my car off and I do agree from the credit aspect. I fancy myself a credit aficionado and currently sport an 800+ across the board. I normally finance small things to keep the ball rolling. The goal is for me to pay it off in September, but even if things fall through I would have it paid off by November.