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Finances & Money

Paid off the MINI Cooper bank loan

Back on September 28th, we bought a 2005 MINI Cooper for Stacie. To refresh your memory, we got a bank loan for $13,285 and put $6,000 on a 0% rewards credit card for a grand total of $19,285.

Today, I sent off a check for $13,340 ($55 to cover the projected loan payoff including accrued interest). We only have $4,000 left on the original $6,000 credit card debt, which will be paid off before the 0% offer ends. Heck, we paid off the car before we even got the license plates!

No, we’re not rich enough to just throw money at cars, and yes, I have a problem with buying cars, but this time we were lucky enough to almost get a car with cash. We used about $11,500 from the sale of our Chevy Malibu, saved up a couple grand more, and will pay off the rest of the loan with money budgeted for debt payoff.

However, now that we’ve paid off the bank loan, we should get the title from the bank in a few short weeks.

Yep, that’s all my news today. Time to work on my midterm exam some more. Have a great weekend!

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Clever Dude

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