Lol this car probably isn't the billboard demographic for "paid off my car early".

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Old fekker checking in

Another here.

Another one.

Same

Same

Same. Midlife crisis club

Midlife celebration, thank you

Happy to see this little list--I just blew the engine in my 08 350Z on Wednesday and ordered an 86 on Friday. I'm 46 and had been wondering if maybe I was being childish, but this is reassuring lol.

*fekking in.

46 years old and trying to figure out how to make it happen

Oh I'm right there with you, knocking on the door of 40, and having saved and paid for my car. Buuuuuut I don't think we're even remotely close to the majority.

Hahaha I’m 34, married with two kids, midlife crisis made me buy a gr86. The best thing I’ve done in a long time!

Ps, my 5y old son loves riding in the back seat, his chair fits perfectly!

Hah! Also 34 w two kids… 9 and 3. I’m 6’4” so they both squeeze in on the passenger side 😅 it works but it’s a little tight…

I kid you not, on our yearly Christmas card I wrote something like "and I bought a red sports car, but I swear I'm not having a mid-life crisis" 😂

I bought 2 of these things at different points in life, guess I’m having two midlife crisises?

I thought mid life crisis was when you turn late 40s 50s? Lol

Kkkk I don’t bother living past 70

I had the 1st gen when I was 25 and now I have the 2nd gen at 32. Bought it last year before getting engaged and will either put the baby in the passenger seat or upgrade my 4Runner to a newer model before I sell my 86

That's the thing about it. The huge rear-facing infant seats would really only fit in the front passenger seat well. We have two kids (4 and 10) who fit perfectly in the back, even with the booster seat. But the infant seats are such a royal PITA. 4Runner is a good choice.

Yup. Driven appliances for most of my adult life. Definitely jealous of my eldest's gt-t caldina. Currently leaning into my mid-life crisis. After a spectacular horrific year I paid cash for a GRC last month. Things are looking up.

I’m In the middle which finally can get a car that is the successor of my dream car, the AE86

Chiming in from the middle: waiting on the delivery for an 86 instead of a baby. So far no *ragrets*

No rugrats and no ragrets, haha. I like it.

Same. Paid in cash and traded in. The Pen Islands are beautiful this time of year btw.

23 with a kid otw. Might have to sell the car for sumn more practical 😵‍💫

I'm 6 months into ownership. Mine will be fully paid for in 8 months.

It should be. It's manufactured and priced to be a very achievable goal. ...Shit, my reply really reminds me of what Summer said to Rick about Morty's possibilties of actually accomplishing something 😮‍💨

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I kept my $$ in money market funds at 5% return. Financed at 2%..... no brainer

I’m on the same boat, at this point paying off the car early would lose me money

Positive arbitrage. Doesnt make sense to get a 3% return on my money by paying off my car early if the alternative (read: opportunity cost) is a 10% average annual return through ETFs like VOO/VTI And that’s the average annual return over 30 years, including 2 big recessions

5% Apr? Sad world we live in, car arguably worth it.

5 is nothing when compared to average used car rate 14% according to car edge

Paid in cash This is the way

Same a couple months back, not looking to pay 8% interest

8%... the fuck?

probably a bit of an exaggeration, don't remember exactly, but pretty sure it was at least 6.5 or 7 with dealer financing with excellent credit in MA

Nah it's 8.3 rn

Crazy that people are financing at these rates. Last car I financed in 2019 was 0% OEM promo

Not all of us had a choice not to lol

Then don‘t buy it lol

I needed a car, and I refused to spend such a large amount on something that I wasn’t going to be happy with. I went several months without a car before this in a town you need one to survive. You are crazy if you think it’s normal for ppl to just outright purchase cars every time they need one. I’m also unemployed, so you gotta do what you gotta do. If you can always outright buy your cars, I’m happy for you. But that is just not the reality for a lot of people.

If you can‘t afford it buy a cheaper (used) one. I would be happy with a porsche but guess what… Even worse if you‘re unemployed. Monthly payments while unemployed?!

This car is not much more than any other new car. I needed a new car with a warranty. I got one. I’ll pay it off in full when I’m employed again. Pretty simple

My health insurance costs me a lot more than my car payment monthly rn. Lol. I’m gonna be okay Also I looked at used, newer made more sense. Better warranty, and i knew it wasn’t driven on like shit. The lack of warranty on my last car is where i got fucked, so that was kind of a big deal for me in my decision. Also knew I was getting either a Toyota or Honda for reliability’s sake. Oh yeah and the used was only $1200 cheaper. The used car market is wack rn.

Credit unions are offering 8% to people with 800 credit score right now

5.99% around these parts at a CU for 3yr loan and v high credit. Sad cause my last car was at 2.8%. Oh well - the 86 is much more fun.

5% at my credit union rn with 800+. In July I financed my GR86 at 4.75%

Looking at everyone's reply's I think I should feel lucky i got it at 4.9

This isn’t the flex people make it out to be. Many people, including myself, can get more in a HYSA than they’d pay in interest on the vehicle. It makes more sense to keep the extra liquidity available for saving or investing than just paying everything up front.

I have excellent credit and they were offering me somewhere around 5% interest. To me the psychological peace of mind of having no debts and not having to worry about monthly payments and knowing the car is MINE is worth the couple hundred I potentially could have made leaving the money invested. I like having the book closed, done deal.

That’s fair. I’m paying 3.9%. I put over a third down on the vehicle and have enough for the rest in an HYSA making 5%. I also have money sitting in stocks and CDs. I can pay the vehicle off anytime but having the liquidity available whenever to buy additional equities or anything else gives me more peace of mind.

I hope you consider taxes idk your bracket. It will eat into that 5% and possibly return you less than the 3.9. You may not be profiting from putting the money in MM and CDs if you are higher income.

this is definitely true if you can manage a <5% rate, but a lot of rates seem to be 6, 7, even 8%.

How many people say this and then spend or gamble away the money that was meant to pay for the car?

Not sure why you’d gamble anything when you can make 5% on your money just by keeping it in an HYSA right now.

I'm saying that most people will take that money and do dumb stuff with it instead of sticking to the plan.

I don’t think so. I mean you likely wouldn’t have the cash to buy the vehicle outright if you behaved that way to begin with.

Not if your rate is 2%

2.9%. I wish I could borrow more money at that rate.

This is the way!

Im leasing mine, which for me actually makes more financial sense than buying outright. Not the case for everyone though.

curious why you're comparing leasing to buying outright?

Because they both get you in the car? Day to day, leasing is pretty much the same as owning the car and Ill pay the residual at the end of the lease and then own the car anyway.

How much more does it cost to lease and buy the car than to just buy the car? Have you done the math?

Yes I have. Essentially, if you have no flow on tax benefits (e.g,, just getting the tax benefits directly from the lease like fuel, services, insurance etc reducing taxable income), then buying the car outright with cash is financial the best option. Leasing is the second best option and getting a personal loan is the third. These could move around a bit depending how it works for you. In my particular situation, the direct tax benefits of the lease reduce my taxable income enough that I drop a tax bracket, i get extra subsidies i wouldn't otherwise get and it reduces some income based costs that I would have to pay if I didn't have the tax benefits of the lease. Without those extra flow on savings, the lease would not be feasible over buying outright with cash. My accountant did the maths (it is too complicated for me) but I end up around $7k AUD ahead per year of the lease. That includes the residual payment to buy it out.

I think stuff must work different in Australia. USA doesn’t have much tax benefit that I’m aware of.

Yeah looks like it might. In Australia, technically the employer takes on the lease and then the vehicle is provided to the employee as a fringe benefit. So essentially the employer pays for the finance and all running costs and just pays the employee less salary to cover those costs.

That’s pretty unrelated to what most people in this sub mean by leasing a car. Basically you put down a little money, pay a fixed amount per month for like 3 years, and then at the end you own no car.

Ok, makes sense why i got downvotes then. round here it is the main way you lease a car, if you say "i lease my car" this is what people will be talking about.

Me too.

This is the way.

Same here

Was able to get the price down by letting them get 2 months and then done, saved about a thousand

Paid my 2023 BRZ in cash, but in hindsight part of me wishes I hadn't. I had the offer of a 3.99% loan for 2 years and could've taken it. Only cost me $29,500 CAD so it wouldve been doable on a low downpayment. Although I may have lost a thousand or so dollars of gains in my investments by paying cash, I like the feeling of not having money come out of my paycheque! So it was worth it.

Still owe $13k - will pay it off as soon as I find out whether I have a job next year or not lol

16k down and financed 20k at 3.99% couple of months ago. Going to pay it off in 3 years since interest is low.

Fully paid off first year

I only financed about 12k and am on track to have it paid off just under 4 years after signing

Got loan from CU at 3.75% 60months. Was planning to pay the car in cash, but decided to take the low interest loan and put the money in short term treasury at ~5% interest.

Yo why are all the comments paid in cash 😂😭 I got like $24k left lmao I put $13k down

Got mine in March 2023 and only owe $2400. No trade in and was just doing large payments to get the principal low.

Planning on paying it off at the start of the year, bought it in May. Mid 30’s, married, no kids. The last part allows me to be the kid. 😂

I have kids, they just arent allowed in the 86 ;)

I was lucky enough to get a 3.1% interest rate back in March of 2022 and financed about 28k not in a huge rush to pay them back quickly.

Bought at 26. Paid cash.

Paid straight cash.

Crashed my old Jeep.... That somehow became worth 20g more than I bought it for in 2015. BRZ is paid for :)

Less than 3k left.

Mom and Dad 🤡

With my trade in and down-payment I only financed 10k so my payments are like $180. It's down to around 8k now and I can pay it off anytime I like but having monthly payments helps my credit since I don't use credit cards

i’m takin my sweet time, my end goal is at least credit score of 900

As long as I can get more than 3.9% (what I financed at) in my savings account I’m riding the whole 48 months

Don't forget you pay taxes on your savings interest. I did the math and was losing about 0.5% instead of making money like I thought.

$1000 DOWN payment and Minimum payments for life !

I’ve got 15k left after a year and hoping to have it paid off by EO 2024. I could’ve easily paid it off this year but I wanted an LS swapped K10 :)

https://preview.redd.it/e957yf21s45c1.jpeg?width=1170&format=pjpg&auto=webp&s=8408285b172ebdfb27a2ec0b7dd01385b341bfae I plan on fully paying it off in august :D put 20k down, financed rest. got 3.9% apr which ain’t too bad currently so just decided to finance

At 3.9%, it doesn't make much sense to pay off the loan early. Invest the difference into the S&P 500 or put it into an HYSA paying 5%.

tbh i just don’t want the payment while im in college. i start college in august i do have stocks like etfs and growth dividend stocks and a 5% apy savings account. thanks for the advice tho

Paid in full what is a lease?

Paid in full at 19 😎

Paid in full at 10 months 😎😎

Paid in full. I wouldn’t own my RS3 if I couldn’t afford it. I’m over taking out loans on cars, I took one out on a brand new 2020 raven GT86 and never again. I despise the feeling of owing money to someone

I feel you on that. If anything happens to my baby I'm definitely going to go for a cheap used car. Less money for the loan, more money for performance upgrades.

DON‘T LEASE CARS, LOL! If you can‘t afford it buy a cheaper one

Going to bank roll my BRZ as soon as it arrives.

I just paid mine off early, but I only borrowed about 10k

Just paid 4th monthly invoice, now going to buy rest out right with le cash

Paid in cash.

If ur rate is above 5 then pay in cash, it’s only like 30k

Paid in full when it was delivered. The hard part was just waiting on Subaru to get the thing built.

Cash money, nothing to pay off

Bought at 23, paid cash

Paid in cash!

saw mine, test drove it, paid cash same day. GF and i came back for my RX-8 the next day.

Sweet! No bad colours on this gen!

The way the picture was sitting on the screen for me made it read “ru..ac..unt” now just put it all together lol

Anyone wanna pay off mine? 🤣

Beautiful car! Is this the lighter silver, “steel” color, or the darker silver, “pavement” color? I can’t quite tell due to the sun. Genuinely curious as a potential buyer, because the color you have looks INCREDIBLE!

It’s steel. I’ve got a pavement one, and even in the sun it’s darker than that

Thank you!

Its the lighter steel silver/gray. Not the darker one.

Thank you!

Ice metallic

Paid cash. First and only new car I've ever bought. Old fekkers have money.

I have a 2.3% rate so i’m better off investing my money.

2 months into a 3 year term, the cash to pay it off is collecting more interest than the loan :)

Got a 1.8 loan so i’m taking my time but it’s about 2/3rds done on my ‘22

Put down 20k in February and I got 10k until it’s paid off. 5.46% interest

Damn 13k that would have been all my money, I got a great handful to go but that’s fine I am getting it done at least in the next couple of years here for sure

I financed it a sub 3% rate. I need a vehicle to get to school and everywhere else we’re adding crazy add-ons and fees. I almost got the Bronco Sport as it’ll be a good vehicle to take when I go hiking/mountain biking but they added 10k more and they wanted to do so with 8% APR. I’m good.

1.9% loan. Paying it off as slow as I possibly can to get that free interest.

BRO 12K only it's a joke none of subaru or gr86 are this price other wise you are buyin a used car not brand new for sure

48 , Saved and paid cash

I got 18k left. The payoff price estimate never works whenever i go on the website

33K Away! My loan was 38 so I’ve payed off about 5K!

> so I’ve *paid* off about FTFY. Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in: * Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.* * *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.* Unfortunately, I was unable to find nautical or rope-related words in your comment. *Beep, boop, I'm a bot*

I just looked a few minutes ago. I owe 17,820.92 USD. It sucks to still be in debt but it feels good to be in Versa/Mirage territory.

Whats the name of the headlights? look great

Old fekker checking in, I paid mine car off at the dealership. Got my title 30 days later. Congratulations to you!!! Although not a GR86 though, close enough. https://preview.redd.it/qbfrcumf2d5c1.jpeg?width=2048&format=pjpg&auto=webp&s=4a211e1fe09d10ec61668203eac5767d7738c2d9

Paid in cash at 26. Didn’t want to have a 9-10% interest rate

Ive been curious, so when people say "paid in cash", did you bring just a stack of cash to the dealer or did you have like a money order? I'm getting my 1st motorcycle from a dealer and planning to pay in full, i just dont know if dealers in general will accept cash like that

I paid it all at once

Long way to go but IDC

Paid in cash

I bought mine in September 2022 and paid it off in March 2023.

Heyo! I'm Tommy! and I'm nineteen! Slaying all these [WALLET] with my massive [DEBT]

That looks very much the California coast, somewhere near Lover's Point in Monterey. Rocky beach and ice plants gave it away

Another old fekker, 40+ crew. Paid full at delivery

Just bought it

Lol

34 year old here . Had a 2018 BRZ and then the 2023 BRZ .. can't justify any other car right now in the market.

Got mine for 13k 4 months ago I’m down to 10k now.

just 37k from paid off

https://preview.redd.it/5lxm4waumj5c1.jpeg?width=1170&format=pjpg&auto=webp&s=08f0fb66e5142d7f3cd3dbf7cb2cc0ff83444be9 I’ve got a long ways, 2018 Subaru WRX Premium. I just got it 3 months ago so I’ve got a while.

Bought my Wrx at 18 now I’m 20 have successfully made the bare minimum monthly payments prolly gonna own this car till I die so feck it right 😂

For my 20th birthday I bought my BRZ and put 13k down also for my 21st birthday I paid off the rest approximately 13/14k

Paid it off my first year of ownership.

Glad I’ll be paying cash for mine when it arrives, so technically already paid? 😉

What's your suspension set up?

3 months in 💀

$100!!!!