Doing a balance? How much $ can I save if?

Question

my balance on my car is 2884.58 at 10.16 %. My c.c. is currently 8.99 % variable (washington mytual). What should I do? How much could I save? I am planning on paying 300 mo. until its paid off or for five months, may have extra cash then.

Answer 1

Best Answer - Chosen by Voters

Since the car loan is at a higher rate, just pay it off as fast as you can. When you are done, pay off the cc as fast as you can. If at some point the cc rate goes higher than the car loan switch any pay off teh cc with any extra $$. Don't save anything until these are paid off, I mean if an emergency came up you could still get money out on the cc, right; but hope for the best and just pay these off, for now.

Answer 2

Go to http://www.century21.com/learn/calculato… and see for yourself. It's amazing how every penny makes a difference!

Answer 3

keep the car loan the cc loan will cost you much more in interest keep paying extra everymonth you'll be fine