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Solid_Sonic 03/09/24 9:12:14 AM #1: |
--- What is the equivalent of taking a shower in an online community? ... Copied to Clipboard!
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Error1355 03/09/24 9:13:10 AM #2: |
If you can afford 4, why stop there?
Go 5 or 6 deep. --- I'm a long, long way from giving up Call me old-fashioned, call me a fool ... Copied to Clipboard!
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DarkDoc 03/09/24 9:15:50 AM #3: |
Yeah, why not. As long as it cuts the amount of interest you pay, no overpayment fees etc. ... Copied to Clipboard!
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Mistere_Man 03/09/24 9:19:16 AM #4: |
Just because you can doesnt mean you should. I mean if that is you main debt, and you still have enough to eat, and survive, etc maybe, but having emergency funds is always better if possible imo as you never know what tomorrow will hold.
Like do 3 a month and save the 4th. --- Water+Fall=Radiation. ... Copied to Clipboard!
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Axiom 03/09/24 9:20:18 AM #5: |
A lot of people can pay for it straight out. Doesn't mean that's smart ... Copied to Clipboard!
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The_Popo 03/09/24 9:20:31 AM #6: |
Depends on what the interest rate is.
--- Live action Hungry Hungry Hippos though, now that was a sport. ~Aeon Azuran ... Copied to Clipboard!
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ai123 03/09/24 9:25:33 AM #7: |
The_Popo posted...
Depends on what the interest rate is. This. I've taken out 0% finance deals on cars I could have bought for cash. Paying off the loan may or may not be the best use of your money. Only clear debts if it is the best option financially, not because you think carrying no debt is somehow more moral or responsible. --- 'Vinyl is the poor man's art collection'. ... Copied to Clipboard!
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Rai_Jin 03/09/24 9:47:21 AM #8: |
individuals acting like they're companies, no you don't need to be in debt all the time, pay it off if you can. ... Copied to Clipboard!
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Solid_Sonic 03/09/24 9:49:30 AM #9: |
Well I want no debt simply so my money goes back to being my own rather than being spoken for.
I still save about $1200 per month across four paychecks from two jobs (one of which is a part time gig). Once I'm clear of this car loan I can really ramp that amount up anyway and still allocate more money to leisure. --- What is the equivalent of taking a shower in an online community? ... Copied to Clipboard!
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HeWhoHasNoShadow 03/09/24 9:49:48 AM #10: |
It is financially prudent to focus on paying off the debt with the highest interest rate, while making minimum payments on the rest of your debts.
--- Exeunt ... Copied to Clipboard!
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Solid_Sonic 03/09/24 9:50:25 AM #11: |
HeWhoHasNoShadow posted...
It is financially prudent to focus on paying off the debt with the highest interest rate, while making minimum payments on the rest of your debts. This is the only debt I carry. I don't have a mortgage (my house was bequeathed to me free and clear) and otherwise my recurring expenses are currently well below my income. --- What is the equivalent of taking a shower in an online community? ... Copied to Clipboard!
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Giacomo_Hawkins 03/09/24 9:52:09 AM #12: |
Do you have any other debts that have a higher interest rate than your car payments?
Do you have a modest emergency savings fund ($500 or so) that will prevent you from taking out a high interest loan (like credit cards you don't pay off at the end of the month) in case of an unexpected expense? If your answer to these questions are no and yes respectively, then pay off that car ASAP. --- Will the little voice in the back of my mind screaming "This is a bad idea" please yield the floor. --Mikey Chivalry be hanged, and so will you. ... Copied to Clipboard!
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lilORANG 03/09/24 9:53:06 AM #13: |
4 a month? Wtf
--- Science and Algorithms ... Copied to Clipboard!
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hereforemnant 03/09/24 10:05:10 AM #14: |
I paid mine off 14 months in advance, so if you can do it, do it. It will save money that way but be tighter for a bit budget wise ... Copied to Clipboard!
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streamofthesky 03/09/24 10:16:41 AM #15: |
Axiom posted... A lot of people can pay for it straight out. Doesn't mean that's smartThe fuck it's not. My car loan was 8.55% and that's with really good credit. I paid that shit off as fast as I could. Where the fuck are you getting guaranteed AFTER TAX (cause you sure as fuck aren't writing off your auto loan interest on your taxes) 9% returns that justifies carrying such a debt when you have the money to pay it off? ... Copied to Clipboard!
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tankboy 03/09/24 10:18:47 AM #16: |
Another advantage to paying off specifically a car loan early, is that you might be able to lower your insurance costs. The bank might not let you carry a high deductible or waive certain coverages, for example. ... Copied to Clipboard!
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Axiom 03/09/24 10:26:17 AM #17: |
streamofthesky posted... The fuck it's not.My last car was .05 interest. Guess that sucks for you ... Copied to Clipboard!
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Smashingpmkns 03/09/24 10:31:11 AM #18: |
Yeah there's really no point in not paying your car off as soon as possible as long as you have a small emergency savings.
--- http://i.imgur.com/x04tPRZ.jpg http://i.imgur.com/t7T392I.jpg ... Copied to Clipboard!
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ironman2009 03/09/24 11:15:39 AM #19: |
just paid my car off this week. dropped 3k on it cause i was sick of the monthly payments.
--- THRILLHO ... Copied to Clipboard!
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