I owe $11k on my car – should I dump some of my stocks and pay …

A Reddit user is wondering if he should sell his stocks to pay off his car. Since he has an affordable car loan, he can earn a better ROI by staying invested. His best course of action would be to ...

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I Owe $11k On My Car – Should I Dump Some Of My Stocks And Pay …

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I Owe $11k On My Car - Should I Dump Some Of My Stocks And Pay …

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A Reddit user is contemplating whether to sell stocks to pay off a car loan. Despite the appeal of eliminating monthly payments, financial advice suggests that maintaining investments could …

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Got 11k Left In My Car Loan At 4% Interest. I Have The Money To Pay …

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How To Trade In A Car That Is Not Paid Off - NerdWallet

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Jun 14, 2023 · For example, if you owe $10,000 on a car with a trade-in value of $9,000, instead of being on the hook for the whole $10,000, the trade-in credit will cover most of the loan and …

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$10k In Car Loan. Should I Pay It Now? : R/personalfinance - Reddit

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Long term returns on low risk stocks and bonds are going to be way higher than the 4% interest rate, but at the same time I know that if I lost my job I would be 6+ months ahead on my car …

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1 day ago · A Reddit user is wondering if he should sell his stocks to pay off his car. Since he has an affordable car loan, he can earn a better ROI by staying invested. His best course of action …

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What Is Voluntary Repossession? - NerdWallet

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Sep 25, 2024 · For example, if you owe $10,000 on your car and the lender sells it for $7,000, you must pay the $3,000 difference. You also might still have to pay fees associated with the car …

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Should I Pay Off $11K Car Loan @ 3% Interest? : R/personalfinance

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TLDR: Should I pay off $11K car loan to free up additional cash towards house down payment? I am considering paying off the remainder of my car loan of $11.4K @ 3% interest. My monthly …

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Owe 8K On Car That Needs 6K In Repairs, What Should I Do!? - Reddit

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Cheapest I’ve found to repair is 6K. Car payment is $545 a month. Car has close to 200K miles on it so I don’t see fixing it as an option. My credit is in the 650 range so I do have some options …

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FAQs about I owe $11k on my car – should I dump some of my stocks and pay … Coupon?

What happens if you owe more on your car?

If you owe more on your car than your car is worth, you’ve got what’s known as an upside-down car loan. This happens when your car depreciates (loses value) faster than you can pay off the loan—usually because you didn’t have a big enough down payment or you got stuck with a bad deal. Upside-down car loans are a mess to clean up, for sure. ...

What if I owe $15,000 on a new car?

As an example, if you owe $15,000 on the car but it is worth only $12,000, that $3,000 difference will be added into the financing for the purchase of your new car. Try Our Tool: Car Affordability Calculator – How Much Car Can I Afford? ...

Can I trade in a car I still owe money on?

If you plan to trade in a car you still owe money on, the first step is contacting your auto loan lender and asking for your payoff amount, or how much you owe on your loan. This figure could be slightly higher than your remaining balance because it includes all of the owed interest. ...

Should you buy a new car if you have negative equity?

This can be convenient, because it doesn’t require you to pay off your negative equity out of pocket. But going this route usually means borrowing more on your next loan than your new car is worth — putting you at greater risk of becoming upside down on that loan. A bigger loan amount also means you could pay more in interest. ...

How much is a car worth if you pay off debt?

Not to mention, cars depreciate (or lose their value) over time. So that $20,000 car will only be worth about $8,000 by the time you pay it off. And paying interest on something that’s worth less and less every month is a terrible idea—no matter how much money you have. Pay off debt fast and save more money with Financial Peace University. ...

Should you pay off your loan before trading in a car?

Experts advise paying off more of your current loan before trading in for something new. However, if you want to trade in a car that you still owe money on, dealers can let you know the bottom line of any new deal. Use our tool to find out how much your car is worth today and you can also get offers from our Instant Cash Offer. ...