WHY I PAID OFF MY $40,000 CAR LOAN EARLY!

Рет қаралды 2,156

Күн бұрын

I paid off the loan on my Audi R8 in full last week! I financed my R8 with a $54,000 car loan and put $42,000 down. Over the past 1.5 years, I paid off some principal and had a $40,000 balance as of last month.
It's pretty common to wonder whether you should pay off debt or invest. I've been dealing with this dilemma for a long time and ultimately decided to pay off my car loan. This is because, in my current financial situation, I've got quite a lot of stocks and real estate in my portfolio. I wanted to diversify into some safe investments and paying off my loan is a guaranteed way to make 3% on my money!
There is also the psychological aspect of paying off a loan and that helps me sleep better at night :) And now that I own my R8 outright, it feels different driving the car.
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Пікірлер: 21

@cliffis3281 3 жыл бұрын

Good video

@jamesshaw89 3 жыл бұрын

Really enjoyed this. I have had huge debt on and off through my life but decided not to live like that anymore 7 years ago. It is much less stressful paying everything off and not living paycheck to paycheck. It took me 4 years of sacrifice and lots of overtime but I think it was well worth the piece of mind I have now.

@MadhavanDawg 3 жыл бұрын

Waiting for this video! Meanwhile, any thoughts on a C43 AMG Mercedes? It looks like it might be a good combination of sport, muscle and daily? Plus the engine sounds amazing!

@RogerCui 3 жыл бұрын

I drove the C43 several times in 2018. It’s an amazing car! Like you said it’s a great balance. It’s got a nice exhaust as well. I’d buy a used one since they neutered the exhaust sound in 2020 due to emission regulations.

@MadhavanDawg 3 жыл бұрын

@@RogerCui Dope! When's the Huracan Evo dropping?

@RogerCui 3 жыл бұрын

😂 I am looking at a huracan for my next car. Maybe in a year or two!

@MadhavanDawg 3 жыл бұрын

@@RogerCui Sweet! Would you be buying a used again? 3-4 years old?

@RogerCui 3 жыл бұрын

Yea probably like a 2017 used one.

@riyazmohamed9612 Жыл бұрын

I have a question, if you're investing into SPY/VOO with a 401k, dont you have huge penalties and tax that you have to pay to take the money out (so that you can use that to put half of the audis price as a downpayment)? or is there someway to keep it in the 401k and still use it for the car?

@RogerCui Жыл бұрын

yes for 401k its for retirement, so you keep it in there until 60 years old

@minchang6028 3 жыл бұрын

Good videos! Could you share what your net worth is and what % is allocated in the market % real estate?

@RogerCui 3 жыл бұрын

60% stocks 40% real estate

@minchang6028 3 жыл бұрын

@@RogerCui Thanks for sharing man! What was your net worth before buying your R8?

@RogerCui 3 жыл бұрын

@@minchang6028 around 400k

@jlovesj3335 2 жыл бұрын

I got an old car for just under 10K like 5 months ago.

@benwoods86 3 жыл бұрын

You look stunning 💯

@andre3k658 2 жыл бұрын

Yea I’m in the fence too. I have 0% interest in my current car. I want to pay the rest off for I too don’t like owing anyone money. Everyone else is saying to invest it

@RogerCui 2 жыл бұрын

I mean if it’s 0% then just keep the money. Good time to invest right now!

@andre3k658 2 жыл бұрын

@@RogerCui that’s what I’ve been told. I’m a novice when it comes down to investing so that’s partly why I was leaning towards paying it off