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How to Drive Away from your Car Loan

Perhaps I don’t plan ahead well enough. I have found that I always seem to need a new car because I have outgrown my existing car. The last car we purchased was because of the birth of a new baby. It was right before the holidays, our current car wouldn’t be able to fit us all, so we knew we needed one. This left us searching for a perfect car and knowing we would need to finance it in order to do so. 


Finding the perfect car for us left us with a considerable loan. Because let’s face it, it’s hard to save money when you need something right away! I knew the monthly payments would be manageable. Still, I wanted this loan out of my life as soon as possible! So of course, if I’m tracking my progress on a debt, you know I’m using a DebtFreeChart for that! In comes one of my favorite charts, I know I say that about a lot of them, but it’s always true!

 

I Paid off my Car Loan Chart

I Paid off my Car Loan chart is a fun, colorful and free way to keep you motivated in paying off that car loan. Designed like a board game, play your way to one less monthly bill! Check it out here to download your own, free copy. 

 

How it Works

This debt payoff chart has 100 squares. Divide your total loan by that and you have the value of each square. As you color it in, remember to focus on the principal being paid off, not just the amount you pay. Each month subtract your current balance with the previous balance and you’ll have the actual amount you’ve paid down. 

 

Color that Debt Away!

I color my squares a different color every month. This motivates me to find ways to color in more squares from last month. Also, I can compare one year to the next. Can I fill in more spaces this summer compared to last summer? It also reminds me how far I’ve come, even when it feels like I’m barely moving. Get creative cutting costs to color in those squares!

If you’re like me, you have a lot of charts you’re working on: I’m currently using 4 other charts! I keep them in a binder dedicated to our finances, household maintenance, and meal planning. When I’m finished, I can display them, frame them, or just keep them to see all the hard work I’ve done! 

The next chart I’m downloading after I pay off this car loan is a Car Savings chart. You can even specify which vehicle you are purchasing next: SUV, Truck, Van, or Car. I won’t be caught rushing for a car loan again, as the money will be waiting in the bank, ready to go! 

You can find a Car Savings Chart HERE

So, if you’re looking for a way to stay on track for your car loan journey, download this free chart today. See how satisfying being responsible can be, as well as colorful. Using the I Paid off my Car Loan printable is a small step that will have a huge impact on future finances!

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I'd love to know your thoughts and ideas on how to making paying off your car loan fun, as well as how you're saving up for your next vehicle! Let me know in the comments!


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Debtris
she duck
Love it

Working through debt with your teen has never been more fun! Thank you.

Debt Free Charts

Love them! So good to see my progress when the leaves are coloured in!

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Debtris
Nicole
Love that this one has 200 spaces

I really like that this one has 200 spaces. I have had a Dave Ramsey chart hanging on my refrigerator for 7 years but you don't get to update the mortgage payoff very often. I downloaded this one because every house payment is one block right now. It helps to make progress you can see EVERY SINGLE MONTH. Thank you for this incentive!

A
Stupid Tax
Aimee
Awesome chart

I was very sad to use this chart because my tax really is stupid, but I love that I can track my progress so easily. It makes me feel good to know that I'm getting rid of the stupid tax!

D
Debt Free Chart
Darlene Tremblay
Love the charts

Printed out a few and couldn’t wait to start using them.
They were designed very well.
Thank you for creating them.