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Vehicle payment options
Posted on 1/22/12 at 10:40 am
Posted on 1/22/12 at 10:40 am
I currently have two car payments.
The First one I could pay off immediately.
The other I could pay down a significant portion of the loan. But not able to do both.
Everything points to paying off the first one immediately. But my question is why? If the payment is close to term haven’t I already paid the largest portion of interest. If I have a better rate on the first should I not try to pay-down the loan with the higher rate first?
The First one I could pay off immediately.
The other I could pay down a significant portion of the loan. But not able to do both.
Everything points to paying off the first one immediately. But my question is why? If the payment is close to term haven’t I already paid the largest portion of interest. If I have a better rate on the first should I not try to pay-down the loan with the higher rate first?
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