Log in

View Full Version : Should I put money in the mortgage or in the car credit


raserran
Nov 16, 2009, 01:44 PM
I have some money and want to know where is better to put it, in the mortgage or in the car debt? Thank you very much for your help.

Fr_Chuck
Nov 16, 2009, 06:02 PM
What are the interest rates ?
How much is owed on each,
How much is there to pay on?

raserran
Nov 16, 2009, 06:42 PM
Mortgage, 6%; car 6.5%. I owed $250,000 on mortgage, and $15,000 on car. Thanks.

Fr_Chuck
Nov 16, 2009, 07:02 PM
And how much do you have to pay toward something.

Idealy you pay off the car completely as fast as possible and then start putting the money you were making on the car payment onto the mortgage to pay it off a lot faster.