First Steps...

[SubPrimeME]

Well as some of you may have known I was looking to finance a car, and well, after further consideration I couldn't justify paying 20% on a loan. SO- I took my 5k that I saved up and bought my first car ever(I'm 32) with cash! 2005 ford focus- 38k miles- perfect shape!

So next month--- I HAVE NO CAR PAYMENT!!!!!!

So anyways, I just thought I'd stop by and brag about it!

[TEW]

Well as some of you may have known I was looking to finance a car, and well, after further consideration I couldn't justify paying 20% on a loan. SO- I took my 5k that I saved up and bought my first car ever(I'm 32) with cash! 2005 ford focus- 38k miles- perfect shape!

So next month--- I HAVE NO CAR PAYMENT!!!!!!

So anyways, I just thought I'd stop by and brag about it!

Well that's great Subprime. congrats on your new ride

[relief13035]

I'm so PROUD of you! I bet it feels great not having a car payment. Good job on not going into debt!

Brag all you want - I think it's wonderful hearing success stories.

[SubPrimeME]

I'm so PROUD of you! I bet it feels great not having a car payment. Good job on not going into debt!

Brag all you want - I think it's wonderful hearing success stories.

Thanks, bragging in the sense that- I finally I made a smart financial decision... I feel like I'm in control now!

[dealdas]

I finally I made a smart financial decision...

That was smart... now just don't lose your Focus

Sorry - Couldn't resist !

[inpain66]

Congrats! I would do that if I could but I am going to have to keep a car I owe 16k on or else I will have no car or job.

[StartingOver08]

Congratulations SubPrimeME - you did a GREAT thing!

[BrokeAzzez]

Congrats! Hope I find a good deal like that! Of course first I have to come up with 5K lol

[SubPrimeME]

Congrats! Hope I find a good deal like that! Of course first I have to come up with 5K lol

Ya.. it took a bit of luck to find the deal. Crazy to think that I had nearly 600 dollar car payment....

[nervousss]

YAY! That is absolutely awesome! I want to do the same thing.

My fiance and I are going Dave Ramsey, hard core LOL!

[debtmonster]

You have every right in the world to brag! That is A-W-E-S-O-M-E!!! I hope this inspires lots of other people to do the same thing on here.

You did good! We're all proud that you made a wise decision. A car is nothing more than a DEPRECIATING ASSET. The less you spend to get from A to B, the better.

My personal recommendation:
Now all of that money you were spending before could not be spent on something nice, such as a nice Roth I.R.A. or other investment. Now that you have that cash freed up, I would take advantage of this poor economy and start investing. Years from now, the economy will turn around and all of the people that invested during these bad times will be all the richer.

Hopefully after my BK, I will follow suit with you!

GREAT JOB!

[debtmonster]

My fiance and I are going Dave Ramsey, hard core LOL!

I think most of the stuff that guy says is dead on.

Here's a Dave Ramsey refresher for those who forgot:

http://www.daveramsey.com/etc/cms/why_buy_a_used_car_5153.htmlc

I would bookmark that site and every time you have the urge to go buy a brand new car, RE-READ that article again to remind you not to.

[debtmonster]

Anyone considering car payments MUST wake up and WATCH this video:

http://www.daveramsey.com/etc/lms/drive_free/player.cfm

You Tube video version to also see:

http://www.youtube.com/watch?v=iIgLyl66QxQ

[Trixie007]

Congrats - you're an inspiriation to us!

Way to go! Thanks for posting this - brag away!

[SubPrimeME]

You have every right in the world to brag! That is A-W-E-S-O-M-E!!! I hope this inspires lots of other people to do the same thing on here.

You did good! We're all proud that you made a wise decision. A car is nothing more than a DEPRECIATING ASSET. The less you spend to get from A to B, the better.

My personal recommendation:
Now all of that money you were spending before could not be spent on something nice, such as a nice Roth I.R.A. or other investment. Now that you have that cash freed up, I would take advantage of this poor economy and start investing. Years from now, the economy will turn around and all of the people that invested during these bad times will be all the richer.

Hopefully after my BK, I will follow suit with you!

GREAT JOB!

Thank you for the kind words. I think the one thing that I had to get over was the 'hey he's driving a nicer car thing.' But as soon as I did that I felt like a great weight had come off of my shoulders. I know that sounds corny, but once you realize that it's just a car, you can move on to the more important investments things.

I know that there are people who feel that cars are status symbols, but for me, I could care less. I want to provide for my family.