Could use some advice
Cargo Master
Joined: Mar 2008
Posts: 3,098
Likes: 136
Yea, i definitely dont want to be stuck with a payment that big for another 5 years, especailly when ill be trying to move out at that point and need money for a house or whatever. Sticking with the 265 a month for another 3 years seems a lot more logical. And im hoping from side jobs this summer on the weekend ill get some extra money to put down towards paying it off
Now THAT is a plan!
It's truly more enjoyable to pull into my cul de sac, turn into my driveway, and realize I live in a fantastic home on a fantastic piece of property. The truck just rounds that all out.
Cargo Master
Joined: Jun 2011
Posts: 2,272
Likes: 208
From: Cincy area
X2 on that. Sounds like great ideas. Side jobs is how I started my business. One day you may just get too busy to go to your current job. And you can say 
. Even if you like it.
As you get older Miles your truck will become less an important part of your life.
. Even if you like it.As you get older Miles your truck will become less an important part of your life.
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Post Fiend
Joined: Aug 2010
Posts: 13,710
Likes: 5
From: Manchester, CT
Yea the company i work for now we dont work many weekends, so im going to be working with my old company still doing swimming pools and liner replacements on the weekend. Easy quick cash
Cargo Master
Joined: Mar 2008
Posts: 3,098
Likes: 136
Work while you have the "free" time. If your loan is a low enough percentage just bank the money vs paying off. Id rather see money in my account vs paying off low interest rate things. But that's just me. Pay yourself first.
Senior User
Joined: Jan 2008
Posts: 371
Likes: 4
One sport that can more easily get a scholarship is running track. I am friends with the local track team and he informed me that on average out of 5 or 6 seniors on the team, 4 would usually be offered a scholarship. It may be different in your area, but when the time comes might be a thought.
Cargo Master
Joined: Mar 2008
Posts: 3,098
Likes: 136
One sport that can more easily get a scholarship is running track. I am friends with the local track team and he informed me that on average out of 5 or 6 seniors on the team, 4 would usually be offered a scholarship. It may be different in your area, but when the time comes might be a thought.
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Post Fiend
Joined: Apr 2002
Posts: 19,311
Likes: 97
From: Waterloo, Iowa
Have owned 5 cars and trucks in my life and paid cash/check for 2 of them, financed one, and gifted one. The OP should focus on paying off early. Probably more important than "education" is building good credit at an early age - and then, not getting stupid. It took me half my life to dig out the financial hole dug when young and wanting stuff but not having the money saved to get them.
Even my two paid off trucks in my paid off house and garage soak up maybe 1200 bucks a year with insurance, plates, etc. just sittin' there. Hm.
Senior User
Joined: Jan 2008
Posts: 371
Likes: 4
Just throwing it out there. I know exactly what you mean. I am a Math teacher and I only wish parents would push there kids to work harder in the classroom instead of just playing ball.
Super Moderator
Joined: Aug 2003
Posts: 25,479
Likes: 738
From: Isanti, MN
You can't "pay yourself first" these days. Everybody takes a big ole helping outta the check before a check ever gets cut. Point taken, though. Have owned 5 cars and trucks in my life and paid cash/check for 2 of them, financed one, and gifted one. The OP should focus on paying off early. Probably more important than "education" is building good credit at an early age - and then, not getting stupid. It took me half my life to dig out the financial hole dug when young and wanting stuff but not having the money saved to get them. Even my two paid off trucks in my paid off house and garage soak up maybe 1200 bucks a year with insurance, plates, etc. just sittin' there. Hm.
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Post Fiend
Joined: Aug 2010
Posts: 13,710
Likes: 5
From: Manchester, CT
Yea true, my interest rate is 6.2%
Cargo Master
Joined: Mar 2008
Posts: 3,098
Likes: 136
I'd start to pay it off quicker but still be putting some extra in an account first. Mine is 1.75%, almost free money. Again with age and good credit these things come....
Post Fiend
Joined: Apr 2002
Posts: 19,311
Likes: 97
From: Waterloo, Iowa
Where you gonna get 6.2 per cent right now? Nowhere that's where. So you pay that off as quickly as possible.
One thing to learn early is loan amortization. They used to use pencils, try it. Now there's an app for it, but was usually drilled into students heads.
One thing to learn early is loan amortization. They used to use pencils, try it. Now there's an app for it, but was usually drilled into students heads.