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Faithful readers of Becoming Bailey will remember this post from March 2014 about how I bought my first-ever car all by myself!! Well, on Friday, I paid it off in just 17 months– 13 months early!!!
I bought my car through Car-Mart and honestly, I would not recommend going through them if you can avoid it. They charged me over $9,000 for a car that was only worth $1,500. Also, I didn’t know this until I paid it off, but they had 3 spare keys to my car while I lived in fear for a year and a half that I would lock my only key in my car and have to pay $50 for a locksmith. Oh yeah, and did I mention Car-Mart was so sure I’d default on the loan that they installed a GPS unit on the car without my knowledge so they could repossess it when I defaulted? Creepy! (It was probably in the fine print or something, but 21 year old me didn’t read the fine print close enough. Also, neither did my mom.)
The coolest part? I paid off my car two days before what would have been my Papaw’s 78th birthday. I think he would be pretty proud of me 🙂
In the future, I’m paying cash for my next car! Although, I don’t have to worry about that for a while because Daisy has a good 150,000 miles or so left on her. I hope!
The next to go is my credit card. It will be nice having an extra $290 per month to put towards my credit card!
How long did it take you to pay off your car?