Decision to make and want some advice on it
By smileonstar
@smileonstar (4007)
United States
April 5, 2010 10:15am CST
Hi all....
I know these day, there are many people are on financial problem... and for me, I have just enough for everything I have so far... however, I have some idea that I want to do but I want to get some advice from my friends here to see it is good or bad.
well, I have a some money that I saved. I want to pay off my car and then start another saving by without paying an extra to the car... what do you guy think? should I do it or just wait for another year for the car automatically pay off? ( cuz I have another year to go)please share
3 people like this
6 responses
@scarlet_woman (23465)
• United States
5 Apr 10
i'd pay it now honestly.you might not have that cash later on,it's better to get it done with.
3 people like this
TATA.@smileonstar (4007)
• United States
5 Apr 10
you are right... I dont want to use my money to pay for other thing that I still own another debt.... so it is good to go right?
2 people like this
@Hatley (163781)
• Garden Grove, California
6 Apr 10
smileonstar oh yes a lot of us do have money problems for sure.I '
think you really should go ahead and pay off your car, then
start another saving. that really makes sense to me as it will be
one less bill for you to have to budget for. I hope this helps
as I think getting things paid off always helps in the long run
as long as you have the money saved up. You know you will need
your car so I would save go ahead and pay it off. this will help
you in the long run of course.
you in the long run of course.1 person likes this
@paula27661 (15811)
• Australia
17 Apr 10
I am no expert but my advice would be to pay off your car first so that you are not paying any interest which will cost you in the long run. I would pay the loan then start saving for what I want. We tried to do that as well when we had a credit card debt; we made paying it off a priority and saved a lot in interest.
@RachelleNH (1396)
• United States
5 Apr 10
I'm probably in the same boat right now..I've got about another year and was debating the same thing..I wound up not paying it off, but had I-it would've free-d up $240 a month. Maybe I should've because then it'd be free and clear. That's what I'd do if I could do it again (pay it off now)
2 people like this
@Auntiescarf (842)
•
5 Apr 10
If this was me making this decision, then I would pay off the car as soon as possible, is there some sort of discount if you pay it off earlier? A lot of companies have this as by paying it off earlier you are paying less interest. If this was the case then I would advise paying as soon as you can, then you will be able to concentrate on saving as you will be paying less off.
