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I paid off my truck

October 2nd, 2015 at 06:34 am

I paid off my truck with my October 1 payment. The final payment was due Jan. 1, so I'm three months early - a 36 mo. loan paid back in 33 mos.

I'm happy to have my truck paid off. I really am. But, I've discovered, or maybe re-discovered something about myself.

When the payment went through, I thought to myself about how it will be another almost 2 1/2 years before my wife's mini van is paid off. And that my truck will need to last AT LEAST that long before we can replace it. And what if it doesn't. What if it breaks down tomorrow. We're screwed.

OK, maybe all of those thoughts didn't come into my head that rapidly. But still, that's the basic flavor of what was running through my head. Instead of being completely happy about having my truck paid off, I was worrying about having this van paid off in time that we wouldn't have two $300+ payments at the same time.

I need to be worrying about something at all times. My grandma P.'s contribution to my psyche, I guess.

Truly, I am happy about having the truck paid off, and no, I'm not really all that worried about my truck taking a crap.

But, that thought was still there, and that says something about my approach to life.

9 Responses to “I paid off my truck”

  1. creditcardfree Says:

    Congratulations!! If it doesn't make it the 2.5 years, you will find something you can afford with cash on hand or the payment you can afford.

  2. snafu Says:

    Good on you getting the truck Paid in Full. Hopefully you will learn to give yourself positive internal self talk. You don't live in Roseburg, Or and you have the skills to cope with life's challenges.

  3. crazyliblady Says:

    Congratulations on paying off the loan, and 3 months early. That's terrific. Maybe you could funnel future truck payments into a separate savings account for the possible event of one of the vehicles dying. That would accomplish two things: 1) if a vehicle does have a problem and you need to replace it, you have some money to do that, and 2) if nothing happens in the next 2.5 years, then at a later time, when you want to get another vehicle, you will have some money to do that, maybe even without a loan. Just a thought.

  4. Livingalmostlarge Says:

    Congratulations! It's still early. What about putting the truck payment on your wife car? Then it'll get paid off faster and you can take all that car and truck payments and use it to pay for the next car?

  5. LuckyRobin Says:

    I'm like that, too. I finish off one thing and then start worrying about the next and taking care of it before something else happens, because something always does. I think it is just being a realist with a what if complex. And hating being in any kind of debt with a passion.

  6. PatientSaver Says:

    Congrats! All your worry really wont' make any difference in the life of the van (other than being fastidious about routine maintenance) so you m ight as well let it go and just enjoy one less debt while you can

  7. Petunia 100 Says:

    Congrats on paying off the truck. What are your plans for that money each month?

  8. rob62521 Says:

    Congrats on making that last payment. I think your concern is valid since nothing lasts anymore, but at least it is paid off and if you have to pay for repairs, you aren't paying for repairs and the vehicle. Be sure you keep up with the maintenance to help prevent as many repairs as you can. Are you going to use the money to pay on your other vehicle or are you putting it away for your next vehicle?

  9. Bob B. Says:

    What am I doing with the money that was going toward the truck? Great question, and I wish I had clarified in the original post.

    We bought the mini van last December. At that time, we had some cash. The cash was split between a down payment on the van, and paying down principal on the truck. When we made that payment the remaining truck loan balance was $2,500. I made a $1,500 payment on the truck in March, and a $500 payment in April, our federal and state tax refunds, respectively. Since then, I've been making payments of between $40 and $50 each month. The Oct 1 balance was around $135. I could have continued whittling it down until Jan, but the mood struck me, and I paid it off.

    My philosophy has always been to have one vehicle payment at a time. When we bought the van, it was under the premise that the truck payment would be greatly reduced. So, I now have $40-$50 per month to allocate to something else.

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