We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Savings v overpay Car loan
Options
CArrie
Posts: 1 Newbie
Hi,
I’m new to forum and not sure if anyone can advise My husband and I have worked really hard to overpay our mortgage over last 6 years and are hoping to clear it by June and hence 9 years early. I had to change my car last year due to back surgery and owe 15700 on it loan is 398 per month and the loan is the best rate available looking at comparison sites. My question is should I lump sum my savings into the car loan(I feel securer knowing I have the 12000 there if I need to access it) I am hoping to overpay the car loan from June once my mortgage is cleared any advice would be great.
I’m new to forum and not sure if anyone can advise My husband and I have worked really hard to overpay our mortgage over last 6 years and are hoping to clear it by June and hence 9 years early. I had to change my car last year due to back surgery and owe 15700 on it loan is 398 per month and the loan is the best rate available looking at comparison sites. My question is should I lump sum my savings into the car loan(I feel securer knowing I have the 12000 there if I need to access it) I am hoping to overpay the car loan from June once my mortgage is cleared any advice would be great.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.3K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards