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PlanoPrivateer
LSU Fan
Frisco, TX
Member since Jan 2004
1274 posts

re: Paying Car Off


He doesn't have $9200 he has $8,000. A few more payments and he will have the balance down to $8,000.





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Ace Midnight
LSU Fan
Ball, LA - Home, Sweet Home
Member since Dec 2006
26182 posts

re: Paying Car Off


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.






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iwasthere
LSU Fan
New Orleans
Member since Jul 2010
950 posts

re: Paying Car Off


What if the loan has the Rule of 78? Then he shouldn't pay it off, right?





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