You will notice a difference in your cash flow, it is wonderful. I finished paying for my car last March, and I hope/plan to have it for at least 10 years total. With fewer loan payments (no car loan, CC paid off in full every 2 weeks, still have the mortgage) it is easy now to grow a big cash stash for big expenses - this spring it will be a new roof and front walk that will be paid for in cash, not credit.