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View Full Version : big day - paid off sprinter


mackconsult
01-21-2012, 02:00 PM
My wife is going to kill me ..... but I just paid off my sprinter. We are less a car payment now which I think should hep us in the future when it comes to financial responsibilities month to month.

Shes all mine and worth every penny :thumbup:

Best vehicle I have ever owned. I think the only thing that will beat it will be my investment in a Cascade 36 (https://www.google.com/search?hl=en&sa=X&ei=3dIaT5X4LoebiAKAzNy_CA&ved=0CCwQBSgA&q=%22cascade+36%22&spell=1) in the next couple years.

HappyFamilyVan
01-21-2012, 02:00 PM
Congrats!

Colorado_Al
01-22-2012, 12:59 AM
Nice!
I'm jealous! I've still got more than 2.5 years to go:
Maturity Date: Sep. 08, 2014
Principal Balance: $8,348.57

Altered Sprinter
01-22-2012, 01:09 AM
It gives you a warm fussy feeling, to know your debt free,treat the wife next month to dinner and a box of chocolates. :hugs:
Richard40274

mackconsult
01-22-2012, 01:38 AM
Note quite debt free .... but one step closer :thumbup:

[I].....your debt free......

Altered Sprinter
01-22-2012, 01:45 AM
Note quite debt free .... but one step closer :thumbup: And when you turn that 36 footer round, come on down to Hobart and I'll treat you all to a drink and a meal to enjoy .Best of luck Cheers Richard
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kendall69
01-22-2012, 02:17 AM
Yep I had that great feeling a little over a year ago. Now that $$800.00 a month goes right in my pocket.
Oh and the .44 cents stamp price. ALL MINE NOW!!!!!!

RSchleder
01-22-2012, 12:09 PM
I'm confused----why in the world would your wife "kill you" for paying off a major asset like your Sprinter?:thinking: Mine would give me a big HIG!

mackconsult
01-22-2012, 03:02 PM
Your only confused because I didn't reveal the rest of our financial situation ..... most on here now that I was unemployed most of 2011, we we have lots of bills to pay and this will be a difficult year.

I'm confused----why in the world would your wife "kill you" for paying off a major asset like your Sprinter?:thinking: Mine would give me a big HIG!

mackconsult
01-22-2012, 03:03 PM
Good looking boat Richard.

And when you turn that 36 footer round, come on down to Hobart and I'll treat you all to a drink and a meal to enjoy .Best of luck Cheers Richard

punter
01-22-2012, 03:43 PM
.

I have found that it is better off not to pay off anything and in fact stretch out the payments.

Reason being is that if you are paying lots of things off and current it gives you a higher credit rating.

Higher credit rating, of course, means lower interest cost on the next purchase.

And since we are talking about boats, can anybody suggest a type of boat that is high quality yet affordable? I could see maybe spending 100K.

I know nothing about boats but I have a house on the James River, ( at the moment and as long as I can keep getting work ), so it seems like something I should look into.

I would have to build a dock too so it gets complicated.

.

BBlessing
01-22-2012, 05:20 PM
paid for my van in full before i even got to drive it. it had 5 miles on teh odometer. my house on the other hand, is a completely different story. i am so glad i don't have another payment each month. i have enough outgoing cash flow as it is.

bb

Mrdi
01-22-2012, 05:30 PM
Low interest is still interest. You're paying someone else to use their money.
For personal use:
I adhere to the premise that you save until you can afford to buy outright.
Real estate and business categories are separate considerations.
A large boat that can be used for extended "live-aboard" situations may also be considered in terms of tax law.
Purchase of said vessels may also occur "offshore" and lessen the sales tax encumbrance.

Graphite Dave
01-22-2012, 06:05 PM
Low interest is still interest. You're paying someone else to use their money.
For personal use:
I adhere to the premise that you save until you can afford to buy outright.
Real estate and business categories are separate considerations.
A large boat that can be used for extended "live-aboard" situations are also to be considered in terms of tax law.
Purchase of said vessels may also occur "offshore" and lessen the sales tax encumbrance.

+1 If you can not pay cash then drive what you are driving until you can pay cash.

Aqua Puttana
01-22-2012, 06:40 PM
There's many ways to look at paying off debt early. Some of us need to borrow for some things so paying cash isn't always an option.

In these days of jobs/income going away in a heartbeat I feel it is better to sock some readily available money away as cash reserves rather than paying off loans which have a good interest rate. If you don't have cash on hand for emergencies or loss of income then you may end up borrowing on short notice at a less than favorable interest rate. I try not to be (too) cash poor. In my case that means continuing to pay on a few manageable loans which we have. Do keep in mind that most loans are call loans though. They can demand the money be paid back immediately at any time for little or no reason.

I'm certain that having been downsized out of an excellent job and living in an area of the country which is pretty depressed economically influences my thoughts and actions. Everyone's case is different.

.


...
And since we are talking about boats, can anybody suggest a type of boat that is high quality yet affordable? I could see maybe spending 100K.

I know nothing about boats but I have a house on the James River, ( at the moment and as long as I can keep getting work ), so it seems like something I should look into.

I would have to build a dock too so it gets complicated.

.
In my experience you don't need a fancy boat, you just need to get out on the water. Some of my fondest on the water memories include the ones with friends, beer, sandwiches and a simple small boat. We love fishing in the Keys with our little 11 foot inflatable sport boat and a six pack cooler. Just getting out on the water is what counts.

I dug out a cartoon which always hung on my office door. I stuck it away in a file when I packed up because they closed the research facility and told me to go away. Hope you like it too. vic

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cedarsanctum
01-22-2012, 07:20 PM
Having lots of payments to make does not help a credit rating. We payed cash for the Sprinter, paid off the house and all debt, and have almost the top marks on credit rating. Everyone told us to not pay off the house because of tax breaks, but the way i figured it, that way you're paying either the bank or the feds for that loan. That is a trap, and in my estimation, if you can get out from under any kind of loan, you'll be better off.
We have a credit card, but never pay interest because we pay that off every month, only using it because it's an REI card and we get cash back to spend for outdoor gear every year. The more bills we pay, the more stuff we run through the card, the more we get back. Use the system to your advantage, not the banks. Nobody should be paying anyone else interest, that is wrong.
Jef

LoveToSprint
01-22-2012, 07:47 PM
--------------------------------------------------------------------------------
Good work, it feels great when you pay big stuff off. Hey, At $1,222.00 a month for 36 months, and a trade in, I Don't See Why Everyone Does Drive a Sprinter. Congrates!!!...I am just getting started on my 2012 3500 170 ext with windows all arround, worth every cent...too!

Colorado_Al
01-22-2012, 08:08 PM
Frankly, If you have income, now is the time to borrow. Using someone else's money is very cheap right now. If you don't have income, best to owe as little as possible. The problem comes when you suddenly go from having income to not having income.

Altered Sprinter
01-22-2012, 09:03 PM
And who is guaranteed! "A work place where tenure of employment is a lifetime occupation.:idunno:
Borrowing money is a risk, but unfortunately if things go wrong you could end up losing everything.
I'm 100% debt free,apart from everyday living expenses and always used my own money to back up default re-payments schedules when over a period of 44 years I have seen three major credit crisis where folk lost their jobs and income , and ended up on the street. Most don't recover. In the meantime If you want a boat expect high mooring fees, if you want to dock it. LOL
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I prefer to fly, and get paid for the photo's.
:rolleyes:
It's my way of obtaining a passive income, to buy food for the table.
It's hard when your not working for a living any more,scratching at the bottom of a biscuit barrel for crumbs.
Richard

mackconsult
01-23-2012, 03:25 PM
Syndey - Hobart .... that is one race I would love to try and do :thumbup:

Altered Sprinter
01-23-2012, 03:55 PM
Expensive hobby right on my door step:thumbup:
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talkinghorse43
01-23-2012, 04:00 PM
Expensive hobby right on my door step:thumbup:

Which one is yours?

gary 32
01-23-2012, 04:04 PM
My wife is going to kill me ..... but I just paid off my sprinter. We are less a car payment now which I think should hep us in the future when it comes to financial responsibilities month to month.
Shes all mine and worth every penny :thumbup:
Best vehicle I have ever owned. I think the only thing that will beat it will be my investment in a Cascade 36 (https://www.google.com/search?hl=en&sa=X&ei=3dIaT5X4LoebiAKAzNy_CA&ved=0CCwQBSgA&q=%22cascade+36%22&spell=1) in the next couple years.

Mack,
Great accomplishment in challenging times!
One of the smartest conversations I have ever had involved being forced into default and financial failure. This friend questioned my fear.

"What's the worst that can happen, you lose everything and have to start over? It does not change who you are and who you love."

For some reason these words help when I feel pressure, hope they help you. Gary
(ps: paid cash for my sprinter, but I could not do that today)

punter
01-23-2012, 04:14 PM
Your only confused because I didn't reveal the rest of our financial situation ..... most on here now that I was unemployed most of 2011, we we have lots of bills to pay and this will be a difficult year.


Truly sorry to hear that.

I lost my job a few weeks ago.

Not to many jobs around at the moment. Best case scenario seems to be that I will be living in a hotel in a strange city in a short while because that is where the next job offer might be.

The economy has been so badly bungled that people have to be prepared to switch professions or move very long distances on short notice.

The house I just bought is probably about to become a bigger tax deduction.

Altered Sprinter
01-23-2012, 04:16 PM
Which one is yours?
Long gone....:cry:40322

mackconsult
01-23-2012, 05:02 PM
It definitely can be ..... fortunately for me my marine resume is longer than my corporate resume. Being a US sailing registered PRO, previous instructor, and avid laser sailor has its benefits when landing spots on the bigger more expensive boats.

How do you think I got the opportunity to bring this sled from Hawaii to portland as the delivery skipper :thumbup:

http://www.mackconsult.com/?tag=rage

When I become a big boat owner I see only two options ..... a cascade 36 or a cal 40 ..... I will only be able to afford a boat less than $40k, and even then I will have to wrap a sailing school around it to pay for mooring and maintenance costs for few years until I am able to sell everything and take it cruising.

Expensive hobby right on my door step:thumbup:

mackconsult
01-23-2012, 05:09 PM
Sorry to hear that man. Hang in there and do what you can. I was stuck having to dig deep in my consulting, WVO, and ****ty unemployment all year to stay in our house & make ends meet. Had to keep a roof over wife and kids ......

Truly sorry to hear that.

I lost my job a few weeks ago.

Not to many jobs around at the moment. Best case scenario seems to be that I will be living in a hotel in a strange city in a short while because that is where the next job offer might be.

The economy has been so badly bungled that people have to be prepared to switch professions or move very long distances on short notice.

The house I just bought is probably about to become a bigger tax deduction.

Ciprian
01-23-2012, 10:11 PM
I know how good it felt when I wrote a 15k check to pay off my Sprinter back in 2007. Debt free is the way to go for me, no matter how low the interest might be. I can tell you, the downturn in economy did not affect me that bad, knowing that I didn't have that monthly payment haunting me. The only money that I am willing to borrow is for a house. Other than that, if I don't have the cash to buy it, no matter how cheap or expensive it is, I will not buy it.

Mac, congrats on your accomplishment. Keep at it.

beachbum57
01-24-2012, 06:59 PM
Congratulations on paying off your Sprinter.:clapping:

I paid my Sprinter off this past June....good thing because the facility that I had worked for for the past 17 years was closed one month later and I was laid off. After looking for a job for 4 months, I have chosen to take early retirement and just enjoy spending time with my elderly parents who enjoy traveling/ camping themselves.

I hope that your situation gets better. Hang in there!:hugs:

LoveToSprint
01-29-2012, 11:12 PM
OMG your float plane...what kind is it? I am looking to buy a piper super cub floater in canada, that is why I bought my 2012 Sprinter (3500 170 black w/windows) to spend time with it up there. That looks like a cub, but too large...is it a Cessna 185? nice paint...oh man, you are where I want to be, I fly too, oh, btw, I am guaranteed a work place where tenure of employment is a lifetime occupation. Tenured professor, Ha, I can teach drunk and naked and they can't fire me...love the plane sir, thanks for sharing.

GaryJ
01-30-2012, 01:22 AM
LoveToSprint,

If we're looking at the same picture, that's a DeHavilland Beaver; power, grace and beauty all in one package.