For a while, I have been thinking I should just pay off my CRV. Especially when the balance got under $2000. I mean, we have had the cash, but got such a good rate on the loan from our credit union. PLUS I really like seeing money in our bank accounts.
I got an email from my credit union last week and thought I would just go check the accounts. This is where we had the loan and it shows up in the account listing. Our main account had a balance larger than the car loan balance. This is just a little account that we got ONLY so we could get car loans from the credit union.
That car loan kept saying, "Pay me! Pay me!" So, I did! $1200 paid that baby off 4 months early. I didn't save much in interest....just a few dollars.
But it was so cool to pay it off early.
I have never done that before.
The money that was being direct deposited for the car loan will continue to go into that account. It will build up for the next car or just to make us feel a little richer. LOL!