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Truck Loan Balance Is Lower

July 19th, 2012 at 02:28 pm

This tends to happen when one makes a debt payment, your principal balance is lower! Yipee!!

Our regular truck payment posted this week. The principal portion was $299.44. We paid $29.69 in interest, just under $1 a day.

Our new principal balance on the truck is $10,336.61. We are close to being under 10K. Since next months principal payment will not bring the balance under $10K, I might just make an extra principal payment. It's always fun to make the extra effort.

In the upcoming months, I will be evaluating the idea of paying the truck off in full with the cash we have on hand. We are paying about 3%, which is more than we could earn in interest. Will need to decide if it is the right thing for right now.

Posted in Debt | 3 Comments »

3 Responses to “Truck Loan Balance Is Lower”

  1. rob62521 Says:
    July 19th, 2012 at 02:35 pm 1342708532
    1342708532

    It's pretty cool when you see the balance dip and makes it worthwhile too! Bravo!

  2. ceejay74 Says:
    July 19th, 2012 at 02:49 pm 1342709397
    1342709397

    Wow, so great! Things are really trucking along (hee) for you and your family lately. Congrats on all your hard work paying off.

  3. FrugalTexan75 Says:
    July 20th, 2012 at 04:29 am 1342758540
    1342758540

    Great job on the truck balance Smile

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