Tuesday, January 31, 2012
Meezy and I did something pretty gratifying last week - we paid off his Jeep Grand Cherokee SRT8! We live off his income since mine is sporadic, so any real estate commissions I make can be spent or saved at our discretion. We could've put my recent commissions into our savings, or blown them on whatever we felt like, but instead we decided to just pay off his car (about a year ahead of schedule) to eliminate that monthly payment and save ourselves the interest from those remaining payments. It felt so good to send out that payoff! This isn't the first car we've owned outright, but it is the first one that's only had 50,000 miles on it at the time of payoff, and is still worth a good chunk of change. Here's hoping we can hang on to this car for a couple more years and enjoy what having only one car payment feels like!
*Edit - Meezy has reminded me that we paid off his Jeep Wrangler with less than 50,000 miles on it, so I stand corrected!