re: Paying Car Off

quote:

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A few more payments and he will have the balance down to $8,000.

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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.