How much money could I save if I pay off my $25,000 car loan early?
I owe $20,000 on my $25,000 loan. The current interest rate is five percent, and I still need to pay for 48 months. How much can I save if I pay my loan off early?
Apr 27, 2021
Answer provided by
Answered at Apr 27, 2021
“If you have $20,000 for the payment of the loan, you stand to save thousands at a five percent interest rate. That said, you need to make sure the decision makes financial sense; don’t stretch your finances too thin.
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