I bought my used car (a 2006 Honda Accord) five years ago with a 66-month loan. I’m old enough to remember when new car loans were 36-month loans. As often as I could, I paid a bit extra to knock off some of the principle, so paid mine in 64 rather than 66 months. When I bought it, an 8-year-old car with 62,000 miles. Now, a 13-year-old car with 121,000 miles.
It’s possible than I’ll own it until it dies. This is now my third Honda Accord. If the other two are any indication, this one has another 65,000 miles to go before it dies of multiple organ failure.
It’s also possible that it’s the last car that I’ll own. Maybe even before it dies, I’ll be in the habit of microleasing autonomous electric vehicles, paying for the use of them with blockchain upvotes.
But for now, Bessie (all my cars have been named Bessie) is owned free and clear. I hate having debt and enjoyed paying this one off:
