Would you Payoff your student loan in full in my situation? Hello Everybody, I just wanted to gather everyone’s input. I have $12,500 remaining in student loans at an interest rate of 4.5%. I can settle this balance and still maintain 6 months’ worth of emergency funds in case of unforeseen circumstances. However, I’m pondering whether it’s truly beneficial to pay it off ahead of schedule. Upon conductin…

Am I stupid for not paying off this car loan? So I had been wanting a new car for a few months. I’ve been able to afford one for a while now but I forced myself to push it off. Finally I decided on the car I wanted and I was planning to pay cash. Most of my money is in my Ally savings and I didn’t really plan on how I was going to work out getting the money out of Ally to pay for the car. …

Is it stupid for me to put all of my extra income to my private student loan? For context I am 25, living at home with parents for the next 14 months (my self set deadline). I don’t hate it at home am happier and have a better mental image of myself when I’m living on my own. I pay them cheap ($500) rent and am living as frugal as possible. I make $95,000 and have $2,600/mo. “extra” after all taxes, 401k, expenses, minimu…

How One Late Student Loan Payment Can Affect You It’s been a hell of a summer for people with student loans. In June the Supreme Court blocked Biden’s student loan forgiveness program. Then in July, the Education Department announced it would automatically forgive student loans for more than 800,000 borrowers on income-driven repayment plans. Read more…

Truck loan was 5.9% now 3.9% Bought my truck a year ago everything was presented to me at 5.9% the paper work has that number aswell. I just checked my account and the loan says 3.9%. Should I stay quiet or are they going to want there extra money one day? submitted by /u/TasteAmbitious3397

Need advice on paying off payday loan. I took out a payday loan a while back (stupid idea but needed to pay rent/bills and I was super low on funds) i have to pay around $500 every 2 weeks, should I take out a personal loan from a bank for a better rate and pay off the total loan ? The total amount to pay it off right now is $5000. paying $500 every time I get paid is making me run t…

Student loan payments restarting With the payment pause I was able to save the entirety of my student loan in a HYSA. I always thought I would pay off my loans immediately when the payments started. But now I realized that my loans have a smaller interest rate (3.6%) than my HYSA (4.3%). Do I just make the payments instead of clearing the debt? I do have an emergency fund tha…

I am upside down on my car loan, and my vehicle is no longer running. What is my best option? I had been in the process of getting rid of my Kia Optima after all the recalls were made. However, Last week..My entire drive system locked up on me. I have been quoted at $6.5K-$8K (by multiple mechanics) to get it running again. This is a major problem for me, as my car is out of warranty, I don’t have that kind of money for repairs & I also …

LPT- Auto Loan with repo Auto Loan with repo Basically have a 588 credit.With a repo from a year and a half.I have on time payments since the repo.Got Navy Fed and a credit card with them.6k in Student loan debt.I’m trying to get a 16k 2016 Hyundai Genesis with 6-7k down what’s the possibilities of securing an auto loan. Stable job for a year-military 30k yearly sub…

Smartest way to go about a car loan I’m about to buy a car for about $24k, and I only have about 6k that’s liquid and available for the down payment. I was going to go with a 72-month loan from the dealer, making my monthly payments around $360. Whenever I have extra cash I plan to dump it toward the car loan, hopefully reducing the length of the loan significantly. BUT: I am comp…

In my position what would you do for financing of my upcoming auto-loan? No debt outside of mortgage Have ~50k in the bank, 80k in non-retirement investments Own my current vehicle outright. Carvana trade in is ~11k. Might be able to do 13k in a private sale. Swapping to an EV, ~$84,000 Currently I’m planning on trading / selling my car, putting down a good amount of cash from my checking and financing between 30 an…

I have a lot of student loan debt, is there any possibility I will be ok? I have over $100k in student loans from just Sallie Mae. I don’t even know how much I have in federal loans. I’ve spent 10 years in undergrad, switching schools, switching majors, battling severe mentall illness. I’m graduating in May and I have no job prospects currently. I’m questioning whether to try and go to graduate school so I can get a h…

Rejected for a Car Loan Souse and I wanted to buy a 2023 minivan. Our Credit Scores at TU are 785 and 744 (new citizen discount). We make $150k annual and have $30k saved for the downpayment. We wanted to finance the rest ($25k) for 36 month. I was a bit surprised but we got rejected for financing. Getting a 2023 Minivan for $25k sound like a steal to me at any point i…

Should I pay off my auto loan or my student loans first? I live in the US- given that there may still be some student loan forgiveness plans coming down the pipeline, should I bother making more than minimum payments on my student loans? I just purchased a new car with a 72 month loan of $24K at 5.49% APR with plans on overpaying to pay it off in 48 months instead. Minimum payment is $390/month. Howev…

Should I pay off my remaining student loan balance in one go? I have one remaining federal student loan. The original terms were $5500 at 3.51% for 10 years. Monthly payments were $55 which I paid the loan down to $4800 before the Covid forbearance pause in March 2020. With payments restarting in September, I’m wondering if I should just pay it off all together. I make $93k a year and have $40k in a HYSA …

Car loan and terminal illness I was recently diagnosed with advanced lung cancer. I have a vehicle that I just bought last year. I will probably never drive again. I still owe more than it’s worth. I had to stop working due to my illness, and getting rid of this car payment and insurance would go along way right now. I would like to keep my credit good because I may be aroun…

HELOC loan for a deck My house has a big deck and you need it to access both doors into the house. It’s built into a hill, so it’s pretty far off the ground. Both stair cases have broken stringers so the stairs wobble. I’m ready to close on a HELOC loan because the deck is very unsafe and needs to be replaced. Was HELOC the best option as the banker claimed? Is the…

I have $10k in savings to put towards a student loan. Which loan would you choose? Private Loan: $62,000, 2.70% interest. $834/mo Federal Loan 1: $5,500, 4.53% interest (starting in September). $56/mo Federal Loan 2: $4,400, 5.05% interest (starting in September). $42/mo ​ I have $10,000 extra in savings (in addition to emergency fund) I’d like to throw at my loans. Debating between just getting rid of both federal loans, or p…

Now You Can’t Get A Car Loan After all the supply chain constraints of the last few years, supply of new and used cars is finally stabilizing at dealers. Prices are also reportedly leveling off, but, now, people are struggling to get car loans in the wake of historic loan delinquency and default rates, as USA Today reports. Read more…

how to get out of a car loan? so when i was 18 years old, i made the decision to take out a $23k car loan on a mustang because i assumed that being able to afford it meant that i should buy it. i am now 20, and in the position where i have to stay in my career field to pay my bills, even though i would like to change jobs. i make $2k per month after taxes, my car payment is …