Pay off vehicle loan or use money for down payment on rental prop

[Jeff Young]

Good evening All,

I'm trying to figure out if it's more beneficial to pay off debt to change the debt to income ratio, or use that cash for a down payment.

Currently I have $4,000 left on my vehicle loan. Would I be better off paying that off and reducing my monthly bills by $340, or using that for a down payment on a rental property. There only 12 months of payments left, but I'm not sure how much the decreased monthly payments would increase the borrowing power.

Thank you kindly,

Jeff