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Updated over 5 years ago on . Most recent reply

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34
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6
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A. Maldonado
  • Rental Property Investor
  • Stafford, VA
6
Votes |
34
Posts

Should it go to Car A or Car B

A. Maldonado
  • Rental Property Investor
  • Stafford, VA
Posted

Currently paying on a zero interest credit card that will soon have interest added to it, also paying on two cars that we stupidly got.

Car A has 10k of negative equity on it. We don’t want to keep this car forever and want to get rid of it when we are financially able to. We’ll get a small beater in it’s place that we can keep.

Car B only has 3.5k of negative equity on it. We like this car and want to keep it till the wheels fall off.

Both cars are 4% so our credit is good.

**Our question is, once we pay off the credit card, should the $600 we’re paying towards it go to Car A or B, explain.

Most Popular Reply

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42,850
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63,202
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
63,202
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42,850
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

just keep them both and use the 600 a month to buy some real estate.. 4% is cheap money and since your upside down that wont change.. and I take it you need two cars ?  

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JLH Capital Partners

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