It has an internal valvve in the compressor that opens a valve when not in use.the internals are still spinning though.it will be damaged if ran low on refrigerant. Common goof at body shops.
Paid the car off, finally!
- Thread starter xBa380
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Good!
Congratulations!!!
While it's been some time since I bought a car on time, I do remember that good feeling of sending in that final payment.
While it's been some time since I bought a car on time, I do remember that good feeling of sending in that final payment.
I was debt free once, then I bought a house.
Originally Posted By: Turk
Congrats!!
Now, pay off any other Credit Card Debt & then the Mortgage (if they apply).
Then, move towards living "100% Debt Free" ASAP, just like I did.
I'm still working but zero car / CC debt, just a few more years of mortgage. Debt free = early retirement.
Congrats!!
Now, pay off any other Credit Card Debt & then the Mortgage (if they apply).
Then, move towards living "100% Debt Free" ASAP, just like I did.
I'm still working but zero car / CC debt, just a few more years of mortgage. Debt free = early retirement.
Good for you! I bought both of my cars with cash since they were both fairly old at the time I bought them (over 10 years old) but I'm still working on my student loans. Those things are a bear!
Welcome to the workforce xBa380. I hope you find employment related to your education and are able to afford the nicer things in life. And thank you for paying heap big FICA tax.
Congrats!
Mid 20s and saving for retirement = you're way ahead of the game. I recommend viewing some info at http://www.bogleheads.org/wiki/Getting_started and continue your plan.
Car payments = extra years before retiring.
Mid 20s and saving for retirement = you're way ahead of the game. I recommend viewing some info at http://www.bogleheads.org/wiki/Getting_started and continue your plan.
Car payments = extra years before retiring.
If you own a car with no payments and have a recent college diploma with no student loan debt and no other outstanding debt then you are risking an investigation by the Senate committee on un-American activities and could be charged with undermining the very fabric of the new America. If you are gainfully employed as well the charges could become very serious. If there's not record of a welfare application or a disability claim and you're not trading food stamps for wine and cigarettes there may be no hope for you. There will be accusations of being a working, law abiding tax paying citizen. You do realize that these are serious charges?
Despite what is posted here don't avoid purchasing a home because you'll be in debt. My only suggestion is buy in best school district if you need to unload your home or have children. Changing homes is an expensive process.
I was like you 2years out of college and walloped myself with a home loan at age 22. It turned out fruitful as apparently I bought low and sold high($100k>$210k) and put down 3%. If I stayed out of debt so to speak I would have never gained so much in 5 years time.
I was like you 2years out of college and walloped myself with a home loan at age 22. It turned out fruitful as apparently I bought low and sold high($100k>$210k) and put down 3%. If I stayed out of debt so to speak I would have never gained so much in 5 years time.
I always hated making car payments. Congratulations on being out from under.
I'll leave out the gratuitous financial advice. Try and keep that car as long as you can. It will be a daily reminder of a good time in your life for as long as you own it. Plus, it's a spiffy car. It's a Toyota, so the only real challenge is to keep up the cosmetics.
I'll leave out the gratuitous financial advice. Try and keep that car as long as you can. It will be a daily reminder of a good time in your life for as long as you own it. Plus, it's a spiffy car. It's a Toyota, so the only real challenge is to keep up the cosmetics.
'Free' + clear title = nice!
Enjoy the feeling before taking the plunge on a house! At least some of that is tax-deductible, however.
Now when the girlfriend becomes the fiancee becomes the wife, I hope the two of you talk finances early and often! Nothing ruins a marriage like fighting over money.
Now when the girlfriend becomes the fiancee becomes the wife, I hope the two of you talk finances early and often! Nothing ruins a marriage like fighting over money.
Congratulations! In Feb of 2013 I became debt free by paying my house and former car off and then six months later the desire for a new sports type car took over and I went back in debt for a new 2014 Mustang GT. Then in August of this year I bought a new 2014 Honda 4x4 Rancher ATV so a little further in debt I went.
I have no credit card debt so that is good. I only have about $23,000 in debt between the Mustang and ATV so that is not too bad. I plan on paying both off early.
Try saving up some money for the house so that you can eventually pay one of those off early.
Wayne
I have no credit card debt so that is good. I only have about $23,000 in debt between the Mustang and ATV so that is not too bad. I plan on paying both off early.
Try saving up some money for the house so that you can eventually pay one of those off early.
Wayne
Originally Posted By: rjundi
Despite what is posted here don't avoid purchasing a home because you'll be in debt. My only suggestion is buy in best school district if you need to unload your home or have children. Changing homes is an expensive process.
I was like you 2years out of college and walloped myself with a home loan at age 22. It turned out fruitful as apparently I bought low and sold high($100k>$210k) and put down 3%. If I stayed out of debt so to speak I would have never gained so much in 5 years time.
There is nothing wrong with purchasing a home with a mortgage if done correctly. As you found out, it's usually an appreciating asset, and a person has to pay to live somewhere (unless you're living in your grandparents basement for free) so it might as well be a mortgage rather than rent. However, the original poster is far ahead of the game by being in a position to save for his retirement, being completely out of debt, and being in a position to pick and choose the terms on which he purchases a home.
Unlike you, he'll be in a position where he will be smart enough to put more than 3% down and not get nailed with PMI, which would have negated a great deal of your appreciation.
Despite what is posted here don't avoid purchasing a home because you'll be in debt. My only suggestion is buy in best school district if you need to unload your home or have children. Changing homes is an expensive process.
I was like you 2years out of college and walloped myself with a home loan at age 22. It turned out fruitful as apparently I bought low and sold high($100k>$210k) and put down 3%. If I stayed out of debt so to speak I would have never gained so much in 5 years time.
There is nothing wrong with purchasing a home with a mortgage if done correctly. As you found out, it's usually an appreciating asset, and a person has to pay to live somewhere (unless you're living in your grandparents basement for free) so it might as well be a mortgage rather than rent. However, the original poster is far ahead of the game by being in a position to save for his retirement, being completely out of debt, and being in a position to pick and choose the terms on which he purchases a home.
Unlike you, he'll be in a position where he will be smart enough to put more than 3% down and not get nailed with PMI, which would have negated a great deal of your appreciation.
JHZR2
Staff member
Originally Posted By: Pop_Rivit
Originally Posted By: rjundi
...It turned out fruitful as apparently I bought low and sold high($100k>$210k) and put down 3%.
Unlike you, he'll be in a position where he will be smart enough to put more than 3% down and not get nailed with PMI, which would have negated a great deal of your appreciation.
How exactly does PMI on a $100k loan equate to a great deal (implies what? $30k? $50k) of a ~$110k profit?
On a $100,000 loan the homeowner could be paying as much as $1,000 a year, or $83.33 per month - assuming a 1% PMI fee.
Thats a lot of years with
Apparently math needs to be reviewed.
Im no fan of low down payments or the risk and costs associated with them, but this example is a poor one to attack.
Originally Posted By: rjundi
...It turned out fruitful as apparently I bought low and sold high($100k>$210k) and put down 3%.
Unlike you, he'll be in a position where he will be smart enough to put more than 3% down and not get nailed with PMI, which would have negated a great deal of your appreciation.
How exactly does PMI on a $100k loan equate to a great deal (implies what? $30k? $50k) of a ~$110k profit?
On a $100,000 loan the homeowner could be paying as much as $1,000 a year, or $83.33 per month - assuming a 1% PMI fee.
Thats a lot of years with
Apparently math needs to be reviewed.
Im no fan of low down payments or the risk and costs associated with them, but this example is a poor one to attack.
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