sir_eccles

I would put $30 on the difference between the loan payments being a lot more than $30 once you've finished.

scrubbedexpat091

Most likely, and it's not something we are in the process of doing, the call was just interesting. Going to a dealer for an oil change always leads to a sales person trying to do something to sell you a new car...lol... I am gonna stop hanging around the lot when waiting...lol

We are thinking about paying more each month on the current car to have it paid off sooner, we can get it paid off about 12 months sooner by adding a little over 100 a month, but not sure if there is any benefit to doing so, as I think the interest is all bundled into the monthly payment?

We couldn't get a Mazda 3 last year, so I don't know how it could be done this year. (the bank said no to a Mazda 3, but were okay with a Mazda 2.)

Pulaski

They can, car dealers do it all the time. It isn't strictly "bundling" the old loan, but the old loan is paid off using the proceeds of the sale of the car you trade in (it must be paid off when ownership changes) and if there is any shortfall they use some of the loan amount on the new car to pay off the old loan. The problem may be that they're planning to increase the term of the loan (e.g. if your current loan is 36 months, the new loan might be 48 months) to help reduce the payments, so you'd be both paying for longer AND be at greater risk of getting "upside down" in the new car because you'd be paying it off more slowly.

I am sure you are making the right choice for you. At very least I would wait until the loan is close to paid off before deciding. That said, the lowest risk option, which may be a consideration for you, is to trade it before the power-train warranty expires because if the transmission or engine fails out of warranty then obviously its trade-in value would fall sharply.

Beaverstate

Paid off my car loan 1.5 years ago, plan on driving it payment free another 10 years.

Pulaski

We paid off our my Mustang at the end of 2004. We haven't had a car/ vehicle payment since then.

SultanOfSwing

I hope your car allows you to do that. I planned on doing that too (or at least driving it until I hit 200,000 miles) but the piece of shit gave up at just over 100K

Pulaski

So you replaced it with a Chevrolet!?!?

SultanOfSwing

It was reasonably affordable and it's cheap to run, WGAF beyond that? It's not like I'm made of money anyway. If I was, that'd get spent on the studio before my daily drive.

Beaverstate

Well at 50,000 miles to date I hope for another 10 years.

I gave up my Nissan pickup after 200,000.

Nutek

Couple of suggestions...

SultanOfSwing

You should be all right.

Thanks, but I think I'll try to keep the two things separate for now

Beaverstate

Nashville plates?

Pulaski

With respect to the Vox bass two-seater, I think six strings would have been safer, avoiding the headstocks sticking out in front.
Chevys aren't known for their longevity, that's all. ...... That said, I suspect that current American brand cars will last much longer than their predecessors from the 1980s and 90s.

Nutek

Safer for who?

SultanOfSwing

I like that they had an actual VOX bass sitting on the back, though, ready for any situation where a bass might be needed on the road. Struggling to come up with one, right now, but a nice touch all the same.