Zero Car Mortgage!

While working in the office last Chinese New Year, I received this photo from the hubby via Viber with a caption that said, “Happy 5th Birthday Nissen :)” (Nissen is the name of our car.) Suddenly, I felt my eyes brightened and my heart swelled with happiness. I knew it was going to be this month but the exact date eluded my memory. Fully-paid na kami sa car, yeeeeees! One major debt down, one more to go (a.k.a. our Bacoor house)!

nissen
the hubby’s FB post with the same photo he showed me on Viber

The hubby got Nissen on February 8, 2011 through a car loan with a local bank, several months after he started paying mortgage on our Bacoor house. His parents sort of forced him to make these two big purchases one after another because they believed that if we were to get married, we should have a house and a car first. A house, and then a car, in that order. A house, because we need a roof over our heads. A car, because the distance between the location of our chosen house and our workplace was asking for it. Siyempre, kasama na rin ang convenience factor doon!

The hubby’s parents were very supportive of these two big financial moves. They helped him pay for the down payment of both the house and the car. You could say he’s a lucky child (and I’m a lucky wife) and it’s true. After we got married in 2012, we immediately talked about how I could contribute to paying down our house and car loans. The arrangement we made at that time remains the same to this day. We had been looking forward to this moment when we finish paying off our car loan and it has finally arrived! Ang saya-saya lang!!!

A big financial burden has been lifted off our shoulders and it feels so good. Paano pa kaya kapag yung house na ang natapos naming bayaran? Mas masaya yun tiyak! I just hope and pray God continues to give us the means to eliminate our debts one by one. It’s still a long way to go with our house loan (it’s a 15-year mortgage and we’re only approaching our 6th year) and so we’ll just keep on working hard and dealing with it one monthly payment at a time.

Any debts you’ve recently eliminated? Kwento naman dyan! 🙂

May you choose happiness always,
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22 Replies to “Zero Car Mortgage!”

    1. Salamat, sis! 2nd year na pala yung sa inyo, malapit na rin yan. Ambilis lang kaya dumaan ng panahon, hindi nyo mamamalayan, tapos na rin yan. 🙂

  1. Congrats! Gusto ko din sana magpurchase ng car for convenient because we have kids. But I think I should park it muna kasi hindi pa talaga kaya. And our house was mortgaged for 30 yrs thru PAGIBIG! OMG! Nasa 3rd year pa lang kame! Thinking of it parang feeling ko hindi na matatapos! But I am praying for good health to still work and pay for an advance little by little. Para sa future! Aja!

    1. Yes, sis, tama yung desisyon na wag ipilit ang hindi pa pwede. Darating din kayo dyan basta focus kayo sa financial goals nyo. Ang advantage mo ay bata ka pa kaya friend mo pa ang time. 🙂

    1. Thank you, Diane! Sarap sa pakiramdam. Hangga’t hindi nadaragdaran ang income ni hubby, hindi kami bibili ng bagong car, yan ang kasunduan. Okay na okay pa naman ang car namin dahil alaga sa maintenance. 🙂

  2. Hooray for one less debt! I can really relate with your rejoicing after paying off the car loan. And as for our mortgage, I will probably scream with joy after I make the last mortgage payment. Utang free!!!!

  3. Congratulations!!!

    Grabe, I’m on my first year pa lang. Should not have taken a mortgage. Urgggh. 😐 We took a loan from ea$twest bank. Buti na lang, every loan anniversary daw, pwedeng bawasan yung principal without additional charges. I’m thinking of doing that. Para mabawasan yung loan.

    1. Thank you, Rae! If you have the money, go ahead and pay a separate amount to reduce the principal. Mas madaling matatapos ang loan mo nyan. 🙂

  4. Congratulations, Edel and hubby! One less utang, hurray! Close to halfway na rin kayo sa house pala. Few more years, another surprise for sure na tapos nyo na rin pala hehe.

    Requirement ko rin ang pagkakaroon ng sasakyan pag may family na. This time, ok na muna with Uber hehe.

    As for other loans, meron na rin akong isang matatapos mid of this year!!! Pero need to save up the same amount pa rin until end of this year for the title processing hehe. I can’t wait to complete all my payables na rin. Push lang ng push.

    Have a nice day.

    1. Salamat, Mylene! Oo nga noh, malapit na rin pala kami mangalahati sa pagbabayad. Hehe. Uy, congrats in advance sayo!

      Tama, push lang ng push kasi pag huminto tayo baka masidetrack at mapunta sa kung saan ang pera. Ibuhos na muna sa mga kautangan at piliting wag na madagdagan ang utang para masaya. 🙂

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