Is it worth it to pay off my car? : r/personalfinance - Reddit

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

2 weeks from now

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

2 weeks from now

After paying off the car, you'd have $8,000 left in savings. Also after paying off the car, your disposable income goes up to $2,125 The spread between your car loan and an HYSA is 3% …

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

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CDs rates are not worth it but still higher than the 2.49% on the loan. Throw it in a mutual fund, it is a low interest loan or pay off any high interest debt if any unspoked cc exist. Money is better …

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

2 weeks from now

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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Money Blog: Renowned Restaurant Reveals His Worst Type Of …

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9 hours ago · Former England football manager Sven-Goran Eriksson died with debts of almost £4m, according to Swedish media. Eriksson, who died aged 76 last August after suffering from …

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

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I (22F) bought a 35k car in 2022. I put 10k down and financed 20k at 3.99% over 36 months. It's an open loan with currently just over 14k left. I…

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

2 weeks from now

I (24F) have a $24k car note at 8.49% for 60 months. My monthly payment is around $520 and I have 58 payments left of a 60 month loan. I am trying to decide if I should pay my car loan off …

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Should I Pay Off Car Loan Or Put That Money Toward House? : R

2 weeks from now

I have a car loan for $19K at 6.3% interest rate (my only debt). I'm also looking to buy a home soon and wondering if it's better to pay off that car loan, so I have $0 in debt. I have ~$80k in …

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

2 weeks from now

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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FAQs about Is it worth it to pay off my car? : 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! ...

Should I pay off my car loan early?

A few lenders use precomputed interest, which means interest is calculated upfront and the amount remains the same each month. With precomputed interest, you could still owe the total interest even if you pay off your car loan early. This could mean paying off the loan early won’t save you money in the long run. ...

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. ...

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. ...

What happens if I pay more than my car loan payment?

Most auto loans use simple interest, so the interest amount you pay monthly is based on the principal amount you still owe. Therefore, when you pay more than your required monthly auto loan payment, you’ll want to ensure the extra funds go toward paying the car loan principal. Doing this reduces the interest you owe and shortens your loan term. ...

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. ...