House Payment? We won't EVEN go into how much my house payment is. We haven't owned any house for longer than 3 years so far.... we've owned two.

I can't imagine what life would be like with NO house or vehicle payments. OMG, we'd be rich.

Let's just put it this way, our house and vehicle payments per month, combined, are $2845... and that's not including paying child support for 4 kids...

Jenn in OH

 

Actually we still owe $13K on wife's Miata but that's it.
We are paying $2K per MONTH on it (real payment is only $350) until it will hopefully be paid off in 2/2004
Once it's paid off we owe nobody squat.
No credit cards
No student loans
No medical bills
NOTHING
Once we are done paying off the car we will save for 3-5 years (@2K per month) and PAY CASH for a bigger house
Yeah it's a WEIRD plan, but normal is BROKE and living paycheck to paycheck
Why be normal ??

 

I don't really know what the payments are. Mommy pays for it. I do have to take care of yard work around the house, when the gardner takes vacation. August 5th, 1987 was a rough day. I was in charge of turning the sprinklers on that day. Mommy said I done good.

 

Good for you Odin. I'm proud of you.

 

This is not a good strategy. Especially in a climate of very low interest rates, where real estate values are rising and other investments are stagnant. Your long term financial picture is much brighter if you buy the bigger house now. Not to mention the improved quality of life you will enjoy for the next 3-5 years.

 

319.16 a month, but i usually pay 350, and sometimes 400 so it will be mine 6 months early!!!! in nov.

 

Payments???? I don't need no stinkin' payments....

Paid for is the only way....

 

A 100K house will cost $215K at 6% APR over 30 years
A 100K house will cost Less than 1/2 that if you pay cash.
Interest rates don't matter if you pay cash since you aren't paying any intrest.

Does it make sence to finance a $25K truck because rates are 0% right now ?

 

Amen.

 

Yeah I agree to that. Always pay the full amount at once. Otherwise they **** you over like a 62 Toyota.

 

That would indeed make good sense because you either pay the complete amount up front or spread that very same amount over time. The day you buy it cost the same if you pay it all that day or over 5 years.

 

01 is right, oops, I mean correct!

The interest rate on my truck is 0 %. The cash price is 29088.00 I pay no money down and spread the 29088 out over 36 months at 808 per month. Definitely a no-brainer, take the payments over time and use the money to make money even if it's a miserly 2% money market account. Duh uh!

 

Pretty good but, I can do better than that even.

$8.08 a month for 300 years!

 

0% means you didn't get the rebate though right ?

 

Oh man! I thought 54regcab was on the ropes getting ready to go down for the count!

But it was just rope-a-dope!
He comes out with a haymaker!
Ladies and Gentlemen this one may go to the scorecards!