- Credit Card
- Real Estate
My car loan is 6.49% but it costs $12 a month for every month you pay it off early. It is a 60 month loan, I have been on it for 6 months and have paid off $2500 (From $14 000 to $11-500.
My Mortgage is about 500,000 at a 3.860% interest rate. I am tempted to re draw the extra $7000 I’ve paid off the house and throw as much as I can at the car, then, when it’s paid off, add the car payment to the mortgage payment, but then I lose the redraw!
I have 29 years left on my mortgage.Can’t get my head around the numbers so help please!!!