@yuunikki@lemmy.world

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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?

@yuunikki@lemmy.world

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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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Jordan Lund
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1•1 year ago
Pay it off and start paying yourself $350 a month.
- @RGB3x3@lemmy.world
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  4•1 year ago
  No, don’t do this. Invest the lump sum of money now because at zero interest, you’re not gaining anything by paying it off.
  
  The lump sum of 12k will be worth much more invested now than 350 a month trying to get back to that amount

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