Dhalphirdon't you open that trapdooryou're a fool if you dareRegistered Userregular
edited February 2012
At the end of the day, if you pay 5-10k off a car loan and still have roughly the same amount left in your savings, you are sweet. If, however, your "hefty chunk" is a bit lower than that, at only 1-2k, i'd stick to double or triple payments instead and take those slowly from the savings instead of getting rid of it in one swoop - that way you can always halt the extra payments if you get in trouble and need to use your savings.
if you pay off the car loan and then suddenly need money, its a big inconvenience to then go and have to borrow money against your car again (and potentially a much higher interest rate than your car loan was to begin with)
edit: accidental necro. advice still stands i guess though.
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if you pay off the car loan and then suddenly need money, its a big inconvenience to then go and have to borrow money against your car again (and potentially a much higher interest rate than your car loan was to begin with)
edit: accidental necro. advice still stands i guess though.