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Our Van Loan: Under $19K

February 17th, 2010 at 05:58 am

The first entry regarding this: the loan on our Honda Odyssey.

We bought it used 1.5 years ago. The interest rate is 3.9%. We borrowed $26,955. I don't like writing that number, but I do LOVE driving my van. It's the most expensive vehicle we have ever owned. Prior to this, the most we spent on a vehicle was about $12K. The plan is to keep it as long as possible, which could be a long time. It's a Honda.

Today our current loan balance is $18,579.87. I just made our regular payment and $433 went to principal.

This will be the next debt we attack once we finish up the home equity loan. It's almost like starting over again with the home equity loan. In fact, it is MORE money than the home equity loan was.

And in case your curious. Our only other debt is our first mortgage on our home.

3 Responses to “Our Van Loan: Under $19K”

  1. D Says:

    I can't wait to be at a point where my only debt is one vehicle! Give yourself a pat on the back Smile When do you think this debt will be gone...what is your hope?

  2. creditcardfree Says:

    D...my hope is it will be paid off by the end of 2010! Lots of extra funds coming in from deployment will make a difference.

  3. D Says:

    Wow! That will be amazing to see! I am rooting for ya!

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