nothinbutflip t1_jege3or wrote
It depends on your goals here. But I would (assuming you have no other debt) pay off the car loan right now and put $43,200 in a HYSA so you gain some interest while your student loans are at 0%. Keep contributing your 1K monthly, should be $1,300 now since your car is paid off, and once those student loans start charging interest again pay it off.
Or if you find a house you like and its affordable you use that money for a downpayment on a house. Then work on paying off those student loans. Ideally your income will increase and you'll be able to save more or pay more towards the loans.
You're in a good place. Great job saving 50K.
Exotic-Art-2687 t1_jegmpd1 wrote
Why pay off the car when they can make more interest in a HYSA (net of taxes) than they pay on the car loan?
lemonpepsiking t1_jeh2w4s wrote
I'm a personal fan of not having a car payment. Is it mathematically correct here? No. But humans are humans.
The second reason could be if op is looking to buy a house soon, one less debt obligation a month could help the mortgage availability.
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