3
Guy at the auto shop told me his $30k truck was paid off 5 years early
Was waiting for an oil change last month and this older fella next to me starts talking about his F-150. Said he bought it new in 2018, financed it for 7 years and just made the final payment last week. I asked how and he just shrugged and said he put every bonus and side job check straight toward the principal. No eating out, no new phones, just throwing money at it whenever he could. Said it felt like nothing at first but after year 3 the balance started dropping fast. Has anyone else tried the 'throw extra money from random income' method and actually stuck with it?
2 comments
Log in to join the discussion
Log In2 Comments
alice1219d ago
Honestly that's the whole trick right there. Most people just make the minimum payment and hope for the best, but throwing random extra cash at it is genius because you don't even miss the money. Tbh once you see the balance cratering after a few years it gets addictive. Ngl I did something similar with my car note and it was wild how fast it snowballed once I got serious.
2
olivia_morgan89d ago
Nah, I gotta push back a little here @alice121. Honestly, just throwing random extra cash at debt without a plan can backfire if you're not careful about high interest rates first. Ngl, I've seen people feel good about paying extra but still get wrecked by the interest on the main balance.
1