I paid off my scion xb in 2 months. I tried to do a loan but I remember a long time ago, zeke posted something that made me realiz that taking out a loan for a dd is no good. Having a title in hand feels great

2 more years for my s2000 tho going on 3 years of owning it now.

 

Having a loan on a DD makes more sense than having a loan for a play car. A DD is out of necessity where a toy is frivilous.

 

If you don't mind paying for gap insurance.

 

I know! I planned it all wrong from the beginning. I think about this mistake all the time, trust me.

 

There are few situations where gap insurance is a good idea. The vehicles value has to be lower than what you owe. If you put a reasonable down payment on a new car, or have bought used and let someone else take the hit, you probably don't need gap. (I know you know this, just posting for any one else that might benefit from better explanaton.)

 

On the other side, say things go down hill for him, he can sell his frivolous car and still have his daily free and clear. Nothing lost, nothing gained provided he wasn't upside down on the car.

 

Gap was so cheap at my bank, I bought JIC.

 

Oh, you've met Dan?

Just kidding, Dan.

 

I hate giving away money. Same with those warranties that are impossible to make a claim against when you do finally need them. You don't know any thing about that, do you?

 

Never had a car loan....cant stand paying interest.