re: Paying Car Off

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I currently owe about $9,266.00 on my car and I will have everything paid off except my house. My question is I have about $8,000.00 saved in my savings account should I take this and put it towards paying the car off? I also have a emergency account but I don't touch that account unless of a emergency.

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Yes, go ahead and pay down. You'll be out from the note in just a few months. If you're really hesitant - you're not eliminating it, anyway, so maybe pay $4000 to $5000 now, and hold the rest until you can pay off the remaining balance. The only problem is - some "priority" will show up and pull at that pot of money.

If it were me (and I've done it, in fact), I would pay what you can and once that debt is retired - DO NOT GET NEW CAR FEVER. Be disciplined and pay yourself the car note, every month, back into savings to replenish that $8000 you're about to dump into it. Don't incur another car note - just pay yourself the note until you can pay cash - keep doing that and you never have another finance charge on a car again.