Bought it cash last year feb .. 22k

 

I have one year left.. i own 9K well 8.5K. my payment is about 500. the interest i got was 4.5%.. i should have looked around more.. to at least get 3.99%. Well, it was a learning experience. i got it feb 07.. i put down 5K. If i get a better job.. i'll give them 1500 a month.. to get done with it

 

Paid it off about a year after I bought it. I think that was in spring of '08.

 

Damn.. I only put 750 down and am paying 500 a month. I usually pay around 600 a month though.

 

just bought my 08x, tad less than $300 a month at 60 months but I'm putting down a little extra to get it paid off in 48, can't do any earlier since I'm buying a wheel/tire package and a got a baby due in two months!

 

hmmm.... paid 28k for a 2007 fully loaded 6mt back in 2009. payments are $420 a month at 5.4%. paying about $470 a month and should have it paid off in 3 more years. car only has 33K miles and runs and smells like new. would like to pay more as i have done on all previous vehicles, but car interest rate is only .4% more than mortgage so it's a wash pretty much on which we pay more on. we throw extra money at either one when we feel we can. another couple of grand and we can ditch PMI on our home mortgage so that frees up another $50 a month we don't have to donate to the banks. obviously that is a higher priority now than paying down the car loan faster.

one thing to think about: with inflation for food and gas running close to 10%, a car loan actually has a real NEGATIVE interest rate, or close to zero when you consider depreciation. and our cars depreciate slowly once the first two years are past. i am still right side up on the deal (owe a couple grand LESS than the car would sell for on eBay) so this is still a "reasonable" investment given the economic environment we are in today. also, consider the quake in japan is seriously going to affect the auto industry and there is a chance a quality used car might actually appreciate in value if you can get parts for it and it is in high demand.

it's an AWESOME investment when considering driving pleasure and fun....

 

I paid for mine in full. But...Ampsucker does make some valid points about interest :O