Finally in the paid-off cobra club!!

[ROSENDO SANCHEZ]

THE GOOD: Paid this baby off about 2 months ago and today I just got the title in my name free and clear of the bank lien! This is the first time since I was 19 that I dont have ANY car payments and sure is nice of not having the burden of the loan payment. I always thought when I finally pay off the cobra, Im gonna keep it as long as Im alive and start saving up.

THE BAD: Now I've been having the itch to get a plain-jane 2011 5.0. This would be my daily driver for work. Im afraid Im just gonna jump right back into a $500+ payment. I would now have a terminator and a '11 5.0 in my stable.

THE UGLY: This 5.0 would turn into a money pit. I know I would start pouring money into it for mods. I must control these urges!!

epper:

 

[timspony]

Congrats! :beer: ....2011's are nice!

 

[CobraBob]

You're from Texas so a 2011 GT would be a pretty nice daily driver, and year round. I hear you about it possibly becoming a money pit. Honestly if I bought one I'd would be very content to drop it a bit, add a midpipe/catback, an intake and an MGW shifter.

 

[fiveoh2go]

Welcome to the club!!! :beer:

 

[Huachipato]

Congratulations... I just got mine paid off last month - such a great feeling!

 

[selbyvince]

i still have 3 1/2 years on mine ;(

 

[JDUB348]

Congrats on paying it off. F buying a 2011.. invest that money in the terminator and build the shit out of it :thumbsup:

After i finish my interior i plan on saving and paying mine off quick. My loan is at 16% interest since i bought my cobra as a ghost :nonono: I've only owned mine for 3 months and owe right around $12900 so since its such a high interest rate i don't want to let them screw me out of interest.

 

[usafimj]

Save and buy a lightning to tow your cobra around haha

 

[P49Y-CY]

congrats that is always a nice feeling.

i have also been eyeing the 5.0's and was teetering on the edge of getting a plain jane auto. but for me i don't think its a smart idea right now

 

[black 10th vert]

Now take your "regular monthly payment" and keep paying it - except into a separate savings account. Then when you have a decent amount built up, you can put it down on a newer GT for a DD to keep the payments down, or if you wait it out long enough , then pay cash for it (especially if you saved the amount that you would be paying on the new car note, plus additional insurance cost, it will add up quick). Since you are already used to making the car payments anyway, you will never miss the extra money going into savings. The only downside to this plan is that you don't have the instant gratification of going into a dealer today, and driving a new GT home the same day, but that instant gratification grows old really fast once the car is just another used car, and you are still paying that $500 a month, 5 years from now!;-)

Congrats on finally being liberated from that car note!:beer:

 

[cbr repsol]

0

im almost in the same club since i bought mine used....my thing is i keep wanting to go buy a new 10 or 11 gt500, sure sucks to want.

I would also wanna mod the hell out of the 500...lol

 

[gabe1530]

congrats, i paid mine off during my last deployment. feels great.

personally, i would get a DD that is something you would not mod. for instance im looking to get a little 4 banger, 5 speed Ranger.

 

[Silverboost]

I paid mine off in Feb this past year and the very next day I bought a 4 door 5.0 .....F150 that is...

 

[Sniperdog]

congrats.,., it is a great feeling :thumbsup:

 

[sneakysnake03]

I paid mine off last month I bought it in Oct. of 09. when I bought it I said I wanted to have it paid off in 2 years and I done it.

 

[OH3BLKSVT]

Damn just bought mine in July still 18k to go blahhhhh lol

 

[Red Turtle]

You're from Texas so a 2011 GT would be a pretty nice daily driver, and year round. I hear you about it possibly becoming a money pit. Honestly if I bought one I'd would be very content to drop it a bit, add a midpipe/catback, an intake and an MGW shifter.

That is where I am at, minus the intake/shifter. :beer:

Eibach Pro Kit and GT500 Axleback. For now is plenty, and I don't want to worry about warranty.

OP, congrats on paying off the cobra.

 

[98 Saleen Cobra]

Right on man, like someone else stated keep making payments into a savings account and then mod it..

 

[black 10th vert]

congrats, i paid mine off during my last deployment. feels great.

personally, i would get a DD that is something you would not mod. for instance im looking to get a little 4 banger, 5 speed Ranger.

This is another great suggestion! Just buy an affordable, reliable DD, that won't suck you into the modding frenzy. That will just make your Cobra all the more special when you take it out. If I were to get a brand new GT, and start modding it (which would be inevitable because of my nature:rollseyes), I would likely lose interest in my Cobra, and just sell it, because I would have something newer to play with.

 

[03' White Snake]

I will be joining this club in Jan. Only 3 more payments left. I bet it is a great feeling.