We Paid off the Car Loan!!!!…And Got a New One

My new baby…

I did something last weekend in which I have been waiting to do for the better part of two years. I did that and did something else that I have wanted to do for the past twelve years. What did I do? Well, if you have read the title of this article, you probably got where I am going with this. We paid off our auto loan on the truck!! And…I bought a new car.

Before you hang a rope around my neck, I have to plead my case. First off, I did not buy a “new” car. It is a 2013 with a full warranty that covers just about everything mechanical. This is very important to me because we all know car repairs are very expensive and can really take a bite out of your bank account. This was another reason I bought a newish car is because I wanted to have at least a higher likelihood of having the car last longer. I bought a Toyota Corolla if you are wondering. I bought this car specifically for its reliability and efficiency. I had done a lot of research and this was one of the best cars for me by far. With all the driving I do, it is great. I have been up and down metro Atlanta and I still have only used a quarter of gas. Did I ever tell you my commuter trip to my job is about 30 miles each way in slow ass traffic?

I have to admit I got a few things added in the “new” car that I absolutely did not need. Of course, I could live without all those things. I didn’t really need a sunroof but I am going to be have this car for a while, hopefully. This car is utmost in safely and I actually want to enjoy something other than the solid suspension. I didn’t look for these things specifically, but they certainly add value to the car.

The car I am replacing wasn’t on its last leg but things were getting close. It had started to make some funny noises. I can’t really say it is too surprising. It has over 260k miles and it was not going to last forever. My fear was that it was going to die and I would be stranded from work. My boyfriend and I have decided to keep my junky but reliable old Camry and just use it till it absolutely croaks. Now that I have a newer car, I am less worried about it. The insurance on it is dirt cheap anyways.

The other great news is that we went ahead and paid the auto loan for the truck. I just didn’t want to deal with paying two auto loans at the same time. Yes, I did take out a partial loan for the majority of the price of the new car. I also got a killer interest rate because of my good credit. I also did a lot of math and settled on a monthly car payment that is affordable even if I get the extended warranty. It will be just over $300 with the car payment and the added insurance which I can do. I know a lot of people look down on taking out loans but the point of the matter is I was going to have to get a new car sooner or later. Without it, I would not be able to get to work and not make any money to pay my bills. I think it is good that my Camry lasted for over ten years. I am almost thirty now and I have had this car since high school.

I am happy with my purchase. I feel like I bought a car that will last me a while (fingers crossed). It is so nice to have a decent car to drive again. It means I will have to continue to work hard but I really don’t mind. It def. keeps me motivated.


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