Is your car paid for?

[cowtown]

Mine's paid off since this last Spring. Spending is frozen on it by and large though I'm trying to free up some money for a few things this year. I went crazy on it in 08 to get it to where I wanted it. The next mods are just refining it so no big rush. Did a big and costly move so a lot of my extra cash flow is tied up for the near term.

I thankfully did well in real estate and got my profit out before the crash (which wasn't was bad as the US) and used a portion of those proceeds to pay off all of our debt including the Mustang and still walked away with a bunch of money for a down payment on a more expensive place.

Anyways yeah, want to spend money and would but can't until I catch up on some of the stuff I had to invest in after the move.

 

[Poco]

With my youngest out of college back in 05' my wife and I won a new house.I paid the prize tax so I could retire earlier. I sold off my old car collection,finished the basement,landscaping,all new furniture and added central air.
I could not take it without some type of muscle car. With 50% down I made a deal with no interest on my 07'GT and paid it it off in 1 year(Sept.08'). This GT is my last hot rod, cruizer whatever you call it. I save my money and hope this economy recovers. A few friends have turned in their s-197's due to lay-offs.
I find it harder and harder to post mods because of today's economy. With thousands of layoffs happening everyday I pray for my fellow Americans who are in this big mess.
My wife and I have been blessed with good fortune but my health sucks and I may have to sell my GT if my remission fails.

 

[mustangford289]

Damn

You don't want to hear my story. You guys are all way better off than me. I have a 2008 GT coupe, just over a year old, with 5,800 miles on it, and garaged all winter.

Because I rolled my previous loan into this one I still owe something like $34k on my loan. 5 years still to go. If I get laid off this year and don't find another job I'm screwed, the car will have to go back, and I will be entering a world of hurt.

That's why I never put any mods on my car I can't remove again and sell separately. All I did so far was to fit a Steeda CAI and 93 octane tune plus a Hurst short shifter and a set of Ford Racing GTA mufflers. There will be no more modding until the economic situation improves.

I know, it's my fault, but I know I ain't the only one out there in this position.

That sucks man....tough way to learn a hard lesson. Ive been there when I was young....work hard, it will all work out if you do.

 

[mustangford289]

Hope not

With my youngest out of college back in 05' my wife and I won a new house.I paid the prize tax so I could retire earlier. I sold off my old car collection,finished the basement,landscaping,all new furniture and added central air.
I could not take it without some type of muscle car. With 50% down I made a deal with no interest on my 07'GT and paid it it off in 1 year(Sept.08'). This GT is my last hot rod, cruizer whatever you call it. I save my money and hope this economy recovers. A few friends have turned in their s-197's due to lay-offs.
I find it harder and harder to post mods because of today's economy. With thousands of layoffs happening everyday I pray for my fellow Americans who are in this big mess.
My wife and I have been blessed with good fortune but my health sucks and I may have to sell my GT if my remission fails.

Hopefully it wont come to ill health forcing a sale....Give it to one of your kids if you r health worsens. I bet they would love it. In the meantime drive the hell out of it!

 

[ghedeup123]

That sucks man....tough way to learn a hard lesson. Ive been there when I was young....work hard, it will all work out if you do.

Yeah you think I would have learned by now, I'm nearly 51. I had an F150 and had to get out of it, the gas prices at that time were killing me. Hence the Mustang.

I earn a very good salary but even plowing everything I have into paying it off isn't going to help me that much if the job goes this year. Hopefully it won't. I've seen some sad cases where guys have had to give up their cars due to being laid off. In some cases they had classics from the 60's and had to let them go.

Good luck to everyone.

 

[07_427r]

Thanks to alot of Overtime last year I was able to pay off mine in 19 months. Paid off this past Nov.