Pay Off the Car Loan?

Jill on Money with Jill Schlesinger

Audacy

Education, Investing, Business, Self-improvement

4.6 • 1.9K Ratings

🗓️ 17 September 2022

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

Even though it's not a huge car loan, just having it is driving me nuts. Is paying if off the right financial move?

Have a money question? Email us, ask jill [at] jill on money dot com.

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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.

Transcript

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0:00.0	Welcome to the Jill on Money Show.
0:06.4	It is Saturday, September 17th, and yep, it's day two of my ride.
0:12.0	So this is the big day.
0:13.3	This is the century part of the three-day ride.
0:16.8	Think good thoughts for me, gang, because I'm going to need it.
0:20.6	If you've got a financial question, why don't you do this?
0:24.5	Stop worrying about it and just send us a note.
0:28.0	Go to JillOnMoney.com.
0:29.8	Click the contact us button, and let us know if you would be willing to come on the
0:33.8	air.
0:34.8	That's what Devon did.
0:35.8	Devon's on the line from Pittsburgh.
0:36.8	Basically, I have a car note, and it's a nice low, I think it's 1.9% per year.
0:43.8	So I owe about, let's call it 14 on the car, and I have a kind of a cash savings bucket,
0:51.8	and there's about, let's call it 28K in there, and I'm really, really tempted to pay off
0:56.8	the car with that cash.
0:57.8	Because you hate that.
0:58.8	You hate it.
0:59.8	You hate it.
1:00.8	You hate the car.
1:01.8	I just want to get rid of it because that's the only debt that I have right now.
1:04.8	Okay.
	...

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