Hi financial gurus, I have a question for you, but first, a little background:
I currently have a basic savings/emergency fund set aside at what was a great rate until recently with the interest rate drops. I also have a car loan @ 5.5% which was set up last year. I have no other outstanding debt, and have already invested my $4k for last year into my IRA. I am in college, and take out of my savings to pay for tuition every semester.
My question is this: would it be prudent to take out a substantial amount of savings, and partially or even completely pay off the car loan? I paid half the purchase price with my downpayment, so I'm not using GAP insurance nor am "in the hole" on my loan vs the car's value.
Thanks in advance![]()



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