Yes, thank you, it helps.

 

Years ago, my Dad made payments to himself after he paid off his car. Eventually, he had enough to buy them cash. He started his work-life in the Depression and had watched most of his neighbors lose their homes, and he taught me to never borrow money unless I absolutely had to. I paid for my 05 MC with a cashiers check, and I make payments of $350/month to myself for the next car. I paid off my house in 8 years making double and triple payments, and can honestly say I don't owe a dime for anything. If you don't have the cash, you don't need it. I build and maintain networks for a hospital, and I never finished a degree. I hate paying interest.

 

Paid in full the day I picked it up. As for the degree thing We all know what BS is, MS is more of the same and PHD is piled higher and deeper:smile:

Both my wife and I have more of the same

 

Paid cash (check), education from Nam U.

 

In fact, I ordered it sight unseen 'loaded' and the only decision I made was color. Loved it ever since. Hi Ho Silver.

BS, as I was not much of a student then. Plus some professional designations since, industry specific.

 

Paid in full in less than 2 yrs. Put down 10K and made huge payments at first, then decided to raid savings and just pay the rest off. (Investment is not my forte!)

BS - yes.

 

HEY... WAIDAMINNIT...

Don't I get a membership number for this club????

 

I made improvements to my house and let it buy me an 03 MCS.:smile:

The only way I would make car payments is if I could get a 0% loan. Not so with the MINI so I paid "cash".

 

I have Minihune to thanks for hooking me up with my 03 MCS. I bought my car from Mini of Hawaii in 2003 when I lived in California. The California Mini dealers were playing hardball on the price and had a serveral month wait list.

Minihune let me know that Mini of Hawaii had a few new Mini's that just came in off the boat and they were at MSRP.

I told him what color I had in mind and what options and he found the perfect Mini in stock and only 2300 miles due west of California.

Minihune checked out my car and reported the car was in perfect condition.

I was somewhat worried about the shipping. I thought it might get bumped or scratched while in transit. But the shipping company ships thousands of cars each year and mine showed up with no problems.

Sent the dealer a check for MSRP and $ 900 to Matson shipping company and about two weeks later, I picked up my Chili Red MCS at the port of Oakland.

My front plate reads....HAWAII 5 O Thanks again Minihune

 

A gift. Fiance then, wife now.

 

Lucky

 

What an awesome story! Kudos to Minihune and to you, too, DJ, for trusting. That is what our MINI community is all about!


Clover

 

Great stories! keep it up.. ..anymore people out there that own their MINI free and clear?

 

Paid for mine in full (check + tradein) when I got it, Feb 05.

I hate oweing money, too. Or at least, I hate paying bills. I don't have a degree, I'm not rich but I have a pretty good job and mind my money (luckily, I have relatively cheap hobbies!). I paid off my last car after 3 years and decided that since it was starting to give me some issues and I had a fair bit of cash saved up, I could afford to look into the car I'd been wanting for some time: the MINI.

I went to miniusa.com and played around for a while and decided on the exact car I wanted: silver/black MCS with premium and winter packages (I had to have heated leather seats!) Wanted the hardtop with a sunroof.

Turns out, the dealer I went to first had this exact package in stock, brand new, 4 miles on the odometer. Took it for a test drive and now it's mine, mine, all mine! The only thing it doesn't have that I want is the auxillary jack for the stereo. I intended to get that installed on my first service trip but you know, I'm not used to 10,000 mile service intervals... it's a long time! The dealer is so far away, though, I hate to make a special trip just for that.

Anyway, I digress. I mainly just wanted to brag, anyway.

Incidentally, I know other people who do it this way, too. Make regular payments into a bank account and when there's enough for a new car, that's when they get one. My system is a less formal version of the same thing. I'm just cheap, then when I have enough money saved up from being so cheap, I get a new car.

 

Picked up the car March 29, 2003 and paid it off in a little over 2 years.
Got the title middle of last month July 2005.
It's nice to be a car owner again
(owned my '82 Rabbit from '85 to '03)

 

Saved since 2002...husband got a reenlistment bouns while in Afghanistan and told me to take what I needed and buy it, so of course, I did!! :smile: Paid in cash on delivey!

 

Many years ago, a wise economist pointed out to me the folly of paying interest on a depreciating asset (car, machinery, etc) rather than an appreciating asset (real estate, investments etc.) I learned the lesson well and have not financed any of my vehicles since the late '60s. They have included various Hondas, a Jag XJ6, Triumph Spitfire, assorted Toyotas, a couple of Oldsmobiles and, Last June 4 my MINI (The Untopable Stirling).

The sole execption to the rule during this time frame was an Acura Legend I leased because of a tax situation allowing me to write off the entire cost (obviously the car was used only for business).

 

Mine.

 

Mine,Mine.

B.S., J.D., B.M.O.C., H.N.I.C., Ect.Ect.

 

Paid cash 4/03 for my 03 MCS. The finance guy was pissed: "Where are you getting the money from?" Do you believe it? I am not a kid anymore and it was an expensive neighborhood (South Hampton).

regards,
Red
BBA

 

Nope, not mine. Still got a few grand to go. I can pay it off, but why
rush? its well within my car expenditures budget (which is under the
wife radar). and the interest on mine is like a hundred+ dollars on
mine since im going to buyout early anyways.

I'd like to ask, what's the point of this thread? Are you wanting
to say that you have more money than people with a loan or something?
Cause i doubt it. :impatient <= new face!

 

Like I said, I love using other's money to grow my own wealth.
kenchan, I do not know the point of this thread, however these guys might establish a club soon

 

i didn't read the entire thread as it seemed pointless. just wanted to
see wat the purpose of such thread was as it's probably making people
with a loan feel alienated. even after i buyout, i don't care to be
in such club. who cares, i say.

some people might have other expenditures supporting family or
medical fees or watever. it's not fair to them.

:impatient <= like catching a dragonfly.

 

I do not know the point of this thread, however these guys might establish a club soon[/QUOTE]
:impatient

 

I'd like to ask, what's the point of this thread? Are you wanting
to say that you have more money than people with a loan or something?
Cause i doubt it. :impatient <= new face! [/QUOTE]:impatient
Two more cases of overthinking the thread.

I think the question is " Does it feel better to have a car that's paid off rather than a car with payments?" If thats it then I'm down with the thread.