No Stupid Questions@lemmy.world • 1 year ago

Is it worth paying the reaminder of my car loan off?

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Is it worth paying the reaminder of my car loan off?

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No Stupid Questions@lemmy.world • 1 year ago

I got my car (2020 Ford Fusion Hybrid SE) new 3 years ago at $25k for a 6 year loan @ 0% interest for entirety of loan, $350 a month payment. I’m about halfway paid off and have about $12.5k left on it. What should I do? I just get sick of paying $350 a month.

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@TonyTonyChopper@mander.xyz
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25•1 year ago
With inflation your money is worth less over time, so you’re actually paying less for the car if you do the payments over a few years. Especially these days. Just since 2020 the dollar has inflated 18%

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