lets say I had a few extra bucks… I have two options.
A) Put it towards my student Loan
B) Put it towards my Car Loan
Here are the factors…
Where do it put it? Student loan or car loan and why?
:tup:
can you put it into some sort of investment in which the interest rate is higher than the interest rate on your car/student loans?
How much lower interest is the car loan?
Car loan is 2% interest
Student loan is 5%.
Be an American, pay for your car. They can’t take away your edumaction.
Seriously though, pay the student loan because the interest is more than double.
True, but I get to deduct the interest.
Do the math but, I doubt it would be that much. Maybe.
your income tax rate isn’t 50+%. Student loan.
k, student loan it is. Thanks :tup:
I could help stimulate the economy but nahhh 
you could divide it evenly between both, even though youve aready made up your mind
if you really have a car loan at 2% don’t pay it off fast. don’t pay off your student loan either unless you have 6 months savings in the bank and the money really is burning a hole in your pocket.
put the money into CDs or a high interest savings account. don’t avoid debt - manage it!
THIS. ALTHOUGH IM GUESSING YOU’RE DOING OKAY REGARDLESS
Pay the car loan.
I’d be willing to bet you are putting out more money/month in interest on the car loan AND the student loan interest is deductible.