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| *Loan,banking and credit>>>auto loan |
Do you think it is better to pay off an auto loan @ 5.5 % or invest it someplace where return is morethan 5%? |
Do you think it is better to pay off an auto loan @ 5.5 % or invest it someplace where return is morethan 5%? The return of more than 5% is probably not guaranteed. It would be best to pay off the car loan. This would also improve your credit score rating, thus giving you better loan rates in the future. pay off the loan and never take another one for a car again. Listen to Dave Ramsey, financial peace or check out his web site at daveramsey.com. depends on what more than 5% means. you have to pay fees on investments, so it would need to be above the 5.5 to break even. Strictly from a financial calculation point of view it would be better to pay off the loan if the return on investment is less than the interest rate of 5.5%. If the return on investment is more than 5.5% then it would be better to invest the money. |
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