Am I crazy to pay off our car loan? : r/personalfinance - Reddit

If the bank is willing to pay you 4.3% to park your savings in their account completely risk free, yes you would be crazy to pay off a loan at 0.9% interest early. The only exception would be if you …

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Am I Crazy To Pay Off Our Car Loan? : R/personalfinance - Reddit

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Should I Pay My Car Loan Off? : R/personalfinance - Reddit

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The difference between saving or paying off the loan is going to be less $30 (I didn't actually model it, but it should be less than or near $15). Financial health is one part of your total …

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Should I Just Pay Off My Car Loan? : R/personalfinance - Reddit

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The spread between your car loan and an HYSA is 3% (5.5 - 2.5) It would take about a year to put your savings account back to where it was. If you don't pay off your car loan, you would earn …

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Should I Pay Off My Car Loan? : R/personalfinance - Reddit

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Do not pay off the loan. You can put the money in a HYSA that will give you 4.6%, and there are short term CDs that are offering 5.5-5.6%. If the interest rate in the loan is less than the …

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To Pay It Off Or Not To Pay It Off: Car Edition

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Dec 27, 2024 · $6,000 in student loans I’ll be wiping out and my only remaining debt will be a car loan of 11k @ 3.23% with a monthly payment of $230 ($30 interest/month). Is it advisable to …

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Should I Pay My Car Loan Off Early Or Pay Off My Mortgage Early ...

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Pay off your car first. Split your monthly mortgage payment into 2 payments so instead of paying $6,000 monthly you’re paying $3,000 every 2 weeks. That will knock a few years off. After …

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Debt - Should I Pay Off A 0% Car Loan? - Personal Finance & Money …

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Apr 22, 2015 · The question posted was, "Should I pay off a 0% car loan"? The poster provided a few details: I'm ahead on 0% interest car loan. I don't have to make a payment until October. I …

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Should I Just Say "F* It" And Pay Off My Car Loan? - Reddit

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No. Your interest rate is lower than CPI. Don't pay off your car loan. If you're looking to buy a house and need the extra $299/month in DTI to get you over the line for a mortgage, you can …

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Ask A Question Or Make A Comment - Sky News

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1 day ago · Inflation has come in at 2.5% for December, slightly lower than forecasts - we run over what that means for you, mortgages and the economy here in the Money blog, as well as …

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Thinking About Taking Out A Personal Loan To Pay Off My Car.

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I have about $7k left on my auto loan and a 6.94 interest rate. I pay $200 a month which really isn't terrible. I just want my car payed off, and I figure if I get a personal loan out for the …

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Is It Worth It To Pay Off My Car? : R/personalfinance - Reddit

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My personal advice is if you can you should pay it off, however, if you think dropping $6k isn't in your budget then continue paying the monthly amount. You can also treat any loan as a …

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Personal Loan To Pay Off Car Loan? : R/personalfinance - Reddit

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Just from my own personal experience of refinancing and trying to get personal loans. The average used car loan is at minimum 5% now, average is like 6.5%. I have between 785-805 …

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Buy Car Or Pay Off Debt? : R/personalfinance - Reddit

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Whether they take that (with a huge grain of salt) or not is up to them. My advice to the OP is: outline all of your expenses with a deviation of 5% and see if it's manageable in the period of …

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FAQs about Am I crazy to pay off our car loan? : r/personalfinance - Reddit Coupon?

Should I Sell my Car before paying off my car loan?

Selling your car is often the best option if it will take you longer than two years to pay it off. You can pay off your car loan faster by getting on a budget, increasing your monthly payment, and reviewing your car insurance. Should I Pay Off My Car Loan Early? Yes, you absolutely should! ...

What happens if you take a 0% loan on a car?

When you take a 0% loan on a car, you forfeit a rebate by paying all the interest up-front. This means that although you might be saving a few dollars by waiting to pay off the loan, you've already paid the interest. ...

Should you keep or pay off a car loan?

If yes, keep the car but pay it off as soon as you can. If not, you’re better off selling your car and buying a cheaper car with cash while you save up. Ultimately, your goal should be to get out of your car loan. Whatever helps you get there faster, do that! 1. You’ll save money on interest. ...

Should I pay off my car early?

Because trust me, paying off your car early is always worth it! 1. You may have to pay a prepayment penalty. Some lenders will charge a penalty if you pay off your car loan before the loan term ends. It’s their way of trying to make up for the extra interest you’re not paying them. ...

Should I pay off my car loan with a lump sum?

Pay a lump sum if you can. If you’ve got the cash to pay off your car loan today (or at least make a sizeable dent in it), do it—like right now! I know it can be scary to use your savings to pay off debt. But you’ll be able to rebuild your savings faster without a car payment stealing your paycheck. ...

What happens if you don't pay off a car loan?

1. You may have to pay a prepayment penalty. Some lenders will charge a penalty if you pay off your car loan before the loan term ends. It’s their way of trying to make up for the extra interest you’re not paying them. You can check to see if your loan contract has a prepayment penalty clause and how much it is. ...