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Updated over 8 years ago, 06/09/2016

User Stats

41
Posts
8
Votes
Daniel Lehman
  • Lockport, NY
8
Votes |
41
Posts

Pay off car loan or buy first rental?

Daniel Lehman
  • Lockport, NY
Posted

So I have a car loan with about 4 years left. The interest rate is at 24%. I have been building my credit up and I'm around 700 now but when I tried for a refi i was denied. Should I pay off my car loan first before I pursue getting my first rental with a VA loan? It seems to mathematically make sense that I payoff the loan first because of the high interest rate but if someone has a strong argument for acquiring my first property then i'm all ears!

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