Is it worth it to pay off my car?
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Your credit score is based (not completely, but i think like a third) on how you utilize your credit, so carrying a load is not a bad thing. If you can invest and make more than 6 percent, then it is a good idea.
Is it worth it to pay off my car?It's always better to have running credit in order to build it effectively. Plus, it allows you to keep the money for a "rainy day" in another area. You never want to be in a position were you cannot meet your obligations.
As long as you other credit obligations do not exceed half of your approved maximum, you should be fine with regards to your credit score.
Is it worth it to pay off my car?It's not worth paying your car off. In the first year you will have paid all the interest on the loan as opposed to a house loan. They would love for you to pay it off so they can loan it out. If you want to pay off something, pay off or send in a large amount on the credit card that is charging you the highest rate of interest. That would be priority. Also, whenever you are making payments and they are on time, yes, you are improving your credit score. Just make the payments on time for whatever bills you have. Good luck in Medical school.
Is it worth it to pay off my car?if you need to free up the monthly payments for med school - you may as well pay it off before you go there
Is it worth it to pay off my car?First of all, it comes down to a simple return/investment. If you pay off the $5,500 right now, is it with money that you otherwise either cant invest elsewhere (for higher than 6%) or have laying around? If so, then go for it.
Another option is (depending on the limit on your cards and balance transfer offers), do a balance transfer if its under 4 or 5% (fees should be low or included there). Lots of new cards offer 0% without fee. You could use the interest you save elsewhere.
It wont really hurt your score much if you pay it, but your balance is low enough from your initial balance that it shouldnt move much in eithe rdirection
Is it worth it to pay off my car?Maybe You should try to google it first ,however if you like some direct resource ,here might be helpful.http://carloan.featured-resources.info/b...
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