Should I save my money or pay off my auto loan?
» morganm answered...In general, if your auto loan interest rate is higher than your savings interest rate, you should pay off your auto loan first.
There are occasions when you might want that cash in your savings available to you, or your savings may have a better interest rate than the auto loan. In those cases you might consider just paying the loan over the full term.
But for the most part, and as is usually the case, you will pay more interest on the loan than you will make on the savings. So taking the full period on the loan will end up in the 'net' costing you more than paying it back immediately.
Login now or register to answer this question now. |
Recent Questions:» Namesof the soft ware companies in north Bangalore with adresses and contact no » Write your question in plain English here.
ltd compaynies in cochin » I am looking for the lowest power using desktop computer I can find. It needs to be at least as powe... » I see 42-inch plasma screens around $700-$800 lately, cheaper than comparable LCDs. Are there major ... » What TV size is perfect for a little room, like 7x7 feet?
Related ItemsProvided by Shopping.com. |