I have $6300 left on my 2011 car, it's already got 73500 miles on it (I bought it new). The loan is for 6 years at 1.9% interest. It would feel good to have the car paid off and only have one loan (mortgage). I have 5 months of expenses saved up, so it's not really going to break my bank. Just wondering if it would be worth it to get it paid off early or to let it go since it's at such a low interest rate. Thanks!
Added (1). I'm right at 3 years into the loan and have 3 years left. I have been paying ahead on it since I got the car, like make an extra payment for my birthday or Christmas. My savings account rate is less than 1%, so that's not a big factor. Just wondering if there are any angles to this I haven't thought of yet, either pros or cons of paying it off early. It will take me a few days or weeks to decide what I'm going to do.
Thanks for the answers and input so far!
Read more: Should I pay off my car early?
