Another tip is when you pay that extra ask the bank to apply it to your principal and it will lower what you pay in interest and you will still be paying it off early
I definitely agree with this advice. I bought my first big girl car brand new in 2015 (it’s a Hyundai also lol) and I started with the extra 20 dollars like you did. Then I started throwing more on it and when I got down to the last 3k just like you, my husband paid if off. I think we also paid it off 3 years early. It feels so good to not have a payment! 😭
I love this! I just got my car last year and I got approved for the 23k car loan, it's now down to 20k and I plan on keeping my car and paying it off. the next step is buying my first home!!! pls lord.
I am sooo happy that I found your page. Our stories are similar. My current car was a gift from my uncle for graduation and Ive had it since 2018. Now, I am in the process of making my first big girl purchase- a car!
Congrats on being car debt free !!! && Great Advice& Great Video! The one thing I learned is if you are going to put extra money into paying off your car its better if you call the loan providers and just put it towards the principal instead of putting additional money mixed in with the original payment, you'll save even morrrrreee money anddd pay it off faster while possibly lowering the interest rate for the next payment. Just a little tip for you next car.
just don’t ever have a car payment higher than $350. Cars are not worth more than that. You found the right price for a car too, good deal. Also I suggest you keep your old car as back up to the newer one. That way you will always have a car.
Giiiirl yesss this is the type of energy I'm on... I have been doing this since last year and I am halfway there now and I also have Ally financial. 🥰 Congratulations on paying off your car early..what year is your car
This advice definitely came in clutch. I was sure definitely stressing to pay my car off early😭i had Ally Financial as well I’ll make sure i put at least $100 more.
Thank you for this video. I ended up refinancing my auto loan to get a better rate and lower payment which I did succeed. It did cause my loan to be extended an additional year but I have been paying the original payment so that my principal balance will be lower each month. I’m hoping to pay it off in 4 years instead of 5. This video confirms I’m doing the right thing! 🙏🏽
I just bought a car last Monday!!.. haven’t had a car payment in 20yrs 😳😩.. A 2021 Lexus ES350 My 1st payment isn’t due until the end of June & I’m stressed already 🥴🤣… just kidding already strategizing adding additional payments to my Principal!!
My 1st big girl purchase! Lol I love the way you said that!😂😮😅 I will refer to my own payments like that!I'm proud of u girl! I believe God told u to go ahead and get that car .he knew and he gave u that git feeling and u obeyed even when scared.thats what u called being brave!!! Doing it afraid! You did that girl!!!! I have credit card debt so I'm swamped. Maybe I could use this video as inspiration for my payments! Thanks girl❤
These were great tips! Thank you for this! Do you mind sharing if you put a down payment down or not? I’m looking to buy a car this year and was indecisive on the amount I should put down towards it.
