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| Posted by | Message | PlanoPrivateer 
LSU Fan
Frisco, TX and Delray Beach, FL
Member since Jan 2004
1106 posts
| re: Paying Car Off (Posted on 2/11/13 at 7:50 pm to jso0003)
He doesn't have $9200 he has $8,000. A few more payments and he will have the balance down to $8,000.
| | Back to top | | Ace Midnight
LSU Fan
Ball, LA - Home, Sweet Home
Member since Dec 2006
14866 posts
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quote:
A few more payments and he will have the balance down to $8,000.
Yeah, but $hit always happens - paying the balance down now makes sure it doesn't get spent on other things in the meantime. He could be 3 years from paying that off, depending on the original amount financed.
Even if it was 3%, I'd say apply $8k to the balance and pay it off as quickly as possible.
| | Back to top | | iwasthere
LSU Fan
New Orleans
Member since Jul 2010
647 posts
| re: Paying Car Off (Posted on 2/12/13 at 11:08 am to Ace Midnight)
What if the loan has the Rule of 78? Then he shouldn't pay it off, right?
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