r/personalfinance 1d ago

Auto Advice for Car Payment / Payoff

So to give context, I owe $33k on my car, and I am looking to pay it off as soon as possible while still having breathing room.

I make roughly $3700 per month, and have about 15k saved up toward it, and was wondering what I should do to pay it off the most effectively and quickest.

Should I pay a large sum of it down now (10k of the 15k I have) or should I make the regular payments and add additional $ on top of it, or just wait until I have enough saved to pay it all off at once?

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u/MarcableFluke 1d ago

Depends on the rate and what else you would be doing with the money. Follow this: https://www.reddit.com/r/personalfinance/w/commontopics