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Originally Posted by Desborough
I work similar to you. All purchased no leases. Finance 4-5 years but must be paid off in 2 years or I feel like I shouldn't have it because I can't afford it. I finance for smaller payments just in case I ever had an emergency but double and triple pay sometimes monthly to make it go away ASAP. I hate owing anyone money let alone paying interest eats me alive  |
It depends on your interest rate I suppose, but I don't get this line of thinking. Wouldn't you rather have that money in an account working for you? My loan interest is 0.9. No way I'm paying that off early, it's practically free money. I'll take that payoff amount and keep it earning and use that money to pay off the car.