You’ll Receive The Title In About 10 Days
I’ve spent so much time and energy sending off money to our debts over the past year and a half, I kind of lost sight of the fact that sometimes, the debt is going towards an actual concrete item. I paid off our credit card in February, which was for some concrete items, but I can’t even really remember what anymore. And I paid off my spouse’s student loan last month, which was for his education, but the education is long completed.
And then on Friday I paid off my car loan. Since it is one of the very few bills I do not pay electronically, I actually wrote out the check at the bank for one thousand one hundred fifty three and 03/100 dollars. Writing it out on the check in words like that made it somehow even more significant to me. I have been making payments electronically for similar amounts every month for the past few months to my spouse’s student loan, but somehow physically writing this on the check made it have a little more weight.
As the teller sent me the receipt through the drive through at the bank, she said to me “You’ll receive the title in about ten days” and it dawned on me - the car loan was a debt paid off, but it also meant the car I was sitting in now completely belonged to us. Another tangible marker of our progress. And it was a little bit humbling.
I don’t anticipate another quick victory - it has been great to knock off two debts in the span of two months - but my student loan still sits at over $10,000. But by sometime in 2009, with a little luck and a lot of hard work, we will hopefully be able to say we are non-mortgage debt free.
The numbers, the one-debt numbers, now look like this:
- Debt at start of blog (6/19/07) : $36,451.71
- Current total as of 11/18/08: $10,791.17
- Principal paid to date $25,660.54
- Broken down into:
- Credit Card: PAID OFF 2/7/08
- Student loan (at 7%): $10,791.17 (paid $289 this week)
- Spouse student loan (at 9%): PAID OFF 10/7/08
- Car loan (at 4%): PAID OFF 11/14/08
- NCN Network Chart: 70.4% paid off (last week, 66.6%)
Also Sallie Mae sent my spouse a nice letter this week congratulating him on paying off his loan. On to getting one of those letters for me!
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November 18th, 2008 at 7:17 am
Let me be the first to tell you; even though you know the loan is paid off, it doesn’t feel real until you receive the title in the mail. After I paid off my car and got my title in the mail, it was like a huge victory and a huge relief. I think I may have cried a little.
Congratulations on paying off the car loan!!!
November 18th, 2008 at 8:18 am
So awesome! I can’t believe how fast you are kicking your debt’s butt. Congratulations on another milestone!
November 18th, 2008 at 8:28 am
Congratulations!!
November 18th, 2008 at 8:34 am
i hope you will take a moment and realize that you have paid off $25K in 18 months. that is phenomenal!!!!
November 18th, 2008 at 9:47 am
Congratulations on another PIF! I just wrote about paying off my vehicle loan soon too, and I also thought about that - I will actually OWN something!
Well done on paying off over $20,000 in just over a year - that is AMAZING!
November 18th, 2008 at 10:11 am
Congratulations!!!
November 18th, 2008 at 10:19 am
Congratulations, Sweetie! I got misty-eyed when you mentioned you suddenly realized you were sitting in a car that was completely YOURS (how apropos that you used the DRIVE-THRU!!).
Today’s blog was particularly impressive for me because I, too, am just thissssss close to paying off my Acura, (which I’ll be able to drive for at least another 7 years-it only has 40k miles on it)(February is my last extra payment, I think). [ps] you’ve been a BIG inspiration…70% paid off! Good grief, woman!!
November 18th, 2008 at 11:06 am
Super job. I have exactly three payments (at 3%) left before my truck is title-in-hand!
November 18th, 2008 at 11:56 am
Nice work. We are paying off our mortgage next month and I look forward to receiving the deed of trust marked “cancelled and released.” Sweetness.
November 18th, 2008 at 12:35 pm
Congratulations. I look forward to your “Zero Non Mortgage Debt” post.
CarlaF-in Atlanta
November 18th, 2008 at 1:19 pm
That is so so awesome!!! Congratulations!
November 18th, 2008 at 1:29 pm
Sweet! Paying off our car and getting the title was one of the best feelings in paying down our debt. Like you, the credit cards didn’t have a tangible item attached to them, while the car is now “ours”
Congratulations!
November 18th, 2008 at 3:06 pm
Congratulations!!! This is wonderful. What a great accomplishment!
Over $15000 in 18 months. That is so impressive!
Don’t forget to call your insurance company to get the bank removed as the loss payee! It will give you another chance to brag on your success!
November 18th, 2008 at 3:27 pm
I’m so impressed by all that you’ve accomplished! Seeing those numbers must be so heartening. Congrats!
November 18th, 2008 at 3:57 pm
Congratulations on your big achievement!
You’re so inspiring.
November 18th, 2008 at 3:59 pm
Fantastic–Just reading the title to your post was awesome!
November 18th, 2008 at 5:58 pm
I just want to stand up and applaud your accomplishment. (I paid off my car a couple of years ago. It feels delightful!)
November 18th, 2008 at 6:45 pm
Hurray! I’ve been waiting for that post! Congratulations!
Can you pay extra to your SL whenever you want, or can you only pay once a month, like your DH’s SL?
Well done!
Are you doing anything to celebrate?!
November 18th, 2008 at 8:50 pm
Ain’t it great!!!
Congrats on a fine job!
I think you need a half way celebration on that student loan that’s left…. Like when you get to $5000, plan something very special as a reward! It will make the final lap easier! Good luck!
November 18th, 2008 at 8:55 pm
Wow! What an accomplishment! That is awesome. Congratulations!
November 18th, 2008 at 11:00 pm
Awesome! What a great job.
November 19th, 2008 at 7:54 am
Great Job!! I’m so impressed with the way you and your family are knocking down your debt!
November 19th, 2008 at 9:09 pm
Congratulations - must be so satisfying to see all that hard work come to fruition. I bet you can’t wait to start putting that money that was going to debt repayment to better use!
November 19th, 2008 at 10:36 pm
Hooray! Three down and one to go. I love seeing all those “PAID” statements on your Tell All Tuesday reports. Good job!
November 22nd, 2008 at 5:34 pm
Just wanted to add my congratulations along with everyone else’s. You are indeed quite an inspiration, woman.