Its Paid Off

I do not know how many of you owe money on your car, or your truck, your boat, your trailer, your tractor or any other items that takes a loan and a long time to pay off. Well I had the distinct pleasure of paying off my tractor and my boat. Each item is something that I purchased, not from necessity but just because I wanted it. Through my life I bought many different cars, boats and motorcycles that I had to take time to pay off. Somehow, I would justify my mind that I could afford the payments and therefore I would buy something that I could probably live without.
Most of you will relate to this when it comes to buying a car or truck. When I was working I would purchase a new vehicle every two or three years. Not because the vehicle that I owned was not working or in bad shape, it was because I wanted something new and I thought I could afford the payment. In my case, I would purchase a brand-new Harley Davidson motorcycle and make payments on the bike. I don’t know that I ever really paid one off. I would sell it and then by a different bike each time doing so with a loan. While I was growing up, the perfect idea of ownership of a house was to make payments for 20 to 30 years and own the house. In the last 30 years, I think the idea of owning a house has gone to the wayside and a buyer need to look at if they can afford the house for more than five years and then sell it. But a house, is a very big purchase. And you need a place to live.
When it comes to buying cars or boats it is a different story. It seems like most of the vehicles that I purchased in the past has at least a five-year payoff on it. It was the same with the motorcycles that I bought. But the purchase of the bass tracker boat that I made several years ago was a loan that went for 10 years. I already owned a very old boat that always seemed to frequently break down. So, more on a whim than an actual need, I bought a brand-new bass tracker boat from Bass Pro shop. The reason I put the place that I bought it at is to make the point that I wasn’t really looking for a deal.
I would justify the purchase of new vehicles or boats by saying that I wanted something new and it wouldn’t break down. But, the way that vehicles are made now, they are very likely to go for 10 years without breaking down. The boat that I purchased with a loan that went for such a long time, meant that very little of the payment was going to principal and almost all the payment was going to interest. If I would’ve waited the whole 10 years to pay it off the boat probably cost me three times as much is the original purchase price. Did I know this when I purchased the boat? Yes, of course I did but I didn’t care about that, I wanted the boat.
If there is a defense for this it is that I am an old man and I don’t need to fight a boat that doesn’t work. I enjoy the fact that I can launch my boat and the engine fires up right away. There are no leaks in the boat and all the things on the boat worked perfectly. So, I can hit the water, feeling safe and not worrying about breaking down in the middle of the lake. Which, by the way, I’ve done many times in some of the older boats that I’ll.
Well even despite such bad judgment, this last week my wife and I were able to pay off the tractor and the boat. Knowing that I made a bad choice by buying something that I didn’t need, I felt really good about making these debts go away.
I would like to tell you that I will not make the same mistake twice. But even now in my old age I’m not sure that I just won’t go out and buy something that I want and I really don’t need.
But today I’m a very happy person and life again is good. Pops

2 thoughts on “Its Paid Off”

  1. It is such a great feeling to pay something off. I just recently paid off a loan and two credit cards. It’s a great feeling of accomplishment to know that you can do it and still be okay!

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.