Paying off Car - Should I pay it off now? or ..just interest and wait?

Pat

Member
I have a car with i have 4 payments monthly remaining of $275/month - including principal and interest.

- I am not working - studying for a professional exam
- Per the statement, I have about $900 left to pay.
- My monthly interest is about $15.

My questions is that - should I pay off my car NOW for $900 and save interest OR should I keep paying the small interest and keep the $900 in case I need it for purchases? Btw, I can pay off the whole amount. But then my bank balance would that much less. Thanks.
 

GregP

Member
if you can't survive without the extra cash wait - if you can, pay it off - your credit score will go and you'll have one less payment to worry about.
 
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