I have two car loans and would like to put money down towards one of them. Which one should I choose? - car loans india
I have two car loans with the same interest rate 5.65%. A loan is 10,281 and the other is a loan that 22,525 new cars, including taxes. I intend to make to 6,000 of these loans. Should I pay money into the depths of, or refinance before the new tax cuts and interest during the term of the loan paid. It costs nothing to refinance with my body, so there is no fee involved. In difficult to determine which side is more profitable.
Friday, January 15, 2010
Car Loans India I Have Two Car Loans And Would Like To Put Money Down Towards One Of Them. Which One Should I Choose?
5 comments:
In my experience, I think it is better to pay what I could before. So, after the payment, you can make to save what would you pay more to pay for each other.
In my experience, I think it is better to pay what I could before. So, after the payment, you can make to save what would you pay more to pay for each other.
First, not paying his taxes, interest only.
Second, you do not need to save for refinancing as interest. If you refinance and keep the same term, would reduce their monthly payments, no interest below.
Everything you need to do is at a time in the amount of $ 6K. Then each month after that is more than your monthly payment to principle and less on interest.
If the loan is the last 22K loan, then one more each shall pay interest on the loan is 10 km. It would be better to pay.
However, if you put in the car 10 miles, then turn on your payments, you can pay off quickly and then turn all the money in additional monthly payment for the vehicle and 22K to go faster.
Your call!
First, not paying his taxes, interest only.
Second, you do not need to save for refinancing as interest. If you refinance and keep the same term, would reduce their monthly payments, no interest below.
Everything you need to do is at a time in the amount of $ 6K. Then each month after that is more than your monthly payment to principle and less on interest.
If the loan is the last 22K loan, then one more each shall pay interest on the loan is 10 km. It would be better to pay.
However, if you put in the car 10 miles, then turn on your payments, you can pay off quickly and then turn all the money in additional monthly payment for the vehicle and 22K to go faster.
Your call!
How to improve. Personally, I would try to save money, then you can get some or all of which apply to what they pay the same for the new car loan. At the end you pay the new car go faster and take less interest, and when you will receive an interest rate for the new car payment will be lower. So do not miss a payment or you can be nailed with penalties
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