egilbe
Well-Known Member
Ok, I've asked this before, why would anyone pay off a 0% interest loan early? That interest you are paying is money you can use to earn...interest. I look at it as free money. Use that money to pay off a loan that charges you interest. Use that money to pay off a credit card. Use it to pay off, or down, a student loan or mortgage payment. Use that money to buy a CD or Savings Bond. Put more money in a 401k or Roth IRA.Paying more than my note required.
Got total financed and divided by 60.
40,000/ 84 = $476.19
40,000/ 60 = $666.67
This is the same thinking that motivates people to give the government an interest free loan all year so they can get a big tax refund the following year.
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