I would have killed myself if I had an R when I was 22 lol
Well I got into a lot of shit when I had a Veloster Turbo when I was 18, and it caught up to me insurance wise lol (read: wrecked it in a fender bender), so I learned early on where to have my fun and where to keep control.
My car is really my only payment so it makes it a lot easier for me to do that. I'm not making a lot of money, I just have very low expenses. Then I can see how much of my payment goes into interest, and that kinda motivates me to correct that.
I think a year wait is about the way to do it though. I waited around a year to refinance my GTI. I bought my R 11 months ago and it'll probably be refinanced in a couple months. If you wait too long then you're making payments for too many years. That's another reason I try to pay it off early. I don't want to be making payments for 7 years because it was originally financed for 6 years and then after a year refinanced for another 6 years. I want payments to be over within 6 years of the original purchase date.
When you get that loan closer to $0 I bet you start putting more into payments. I know when my GTI loan had about $5k left I started focusing on paying it off a lot quicker.
Yeah, this is my longest loan term at 4 years, my others have all been 3. But the others got paid off in lump sums. First one got wrecked and had a payout, the second I sold it and paid the loan off with money from the sell. I hate having a loan though.
lol, *shrug* I bought something more expensive than I probably should have. I've always had shitty spending habits, but my car is the only debt I have. I'll still get it paid off before 6 years even if it's financed for 7.
The boat loans we do for people are typically 12-15 years. Should see the interest on just a $70k boat after 15 years.
Also my only debt (not counting the odd $100 for gas/groceries on the CC), no student loans, don't own a house, etc.
I'd never buy a brand new boat lmfao