You can answer this yourself by asking two questions. What is the interest
rate on my truck loan? What is the interest I will earn on that money in a
savings account/Short tern CD etc? If the interest rate you are PAYING is
higher than the interest rate you are EARNING, pay off the truck!
The only sang I can see is if you got one of those loans where the interest
is payed first, the pricipal second..... then you might as well put the
money aside as a nest egg against bad times.
Preacher
99 5.2L CC 4x4 SLT+
Charlotte, NC
http://www.bastaards.org
At 11:24 PM 6/15/99 -0700, you wrote:
>
>
>On Tue, 15 Jun 1999 16:41:41 -0500 Mark Mitchell <thorfinn@xta.com>
>writes:
>>My 99 is a lease. the only reason you should lease is if you can not
>>afford
>>the payments otherwise (like me). I normally would not lease but, I
>>did a 4
>>year lease with monthly payments of $422.91,
>>
>
> This may be a stupid question, but I'm sure some one out there has the
>answer for us
>financially challenged dodge owners. :)
> We have just got a refinance on our home for improvements and with it
>some extra cash. With it we
>have the ability to pay off the loan on our 1996 5.2L,CC,SB, Gibson
>cat-back, K&N Ram.
> We owe approx $11,500 on it with payments of $483.00 / mo. We have
>about 2 -1/2 years
>and it will be paid off. Should we just pay it off now with the extra
>cash or put the extra $$ in the bank, and if we
>can't make a payment, draw it of savings.? Or pay it off now? This is our
>1st experience with this sort
>of situation. We really love the truck, but we know that it is
>depreciating daily.
>What would be our wisest move? Any answer if very much appreciated?
>
Preacher
99 5.2L CC 4x4 SLT+
Charlotte, NC
http://www.bastaards.org
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