Should I pay the remaining balance on my car loan ($6,000) or buy a cheap second car for less than $5,000?

Should I pay the remaining balance on my car loan ($6,000) or buy a cheap second car for less than $5,000?

You haven't finished paying off one car and you're going to buy another in cash?

It was an idea, yes

Car loans are for faggots

Are you a faggot

Idk. Fell for the brand new normiebox meme a couple years ago so I financed one. Now I just want something different that is paid in cash and more fun too. Or I could pay off this normiebox and not worry about a car payment and interest and start saving again for a

I have a similar situation, OP.

Tempted to pay it off, but I opened it to build credit and solve my unreliable DD situation. Unfortunately I bought an unreliable car that's since turned into a project car.

Doesn't paying it off let you save further money by not having to have full insurance?

Here, it's very stupid to have at-fault insurance for any vehicle under 12k.

I'd say pay it off. You can then drop full coverage insurance and save money quicker than before

pay it off.

Friendly reminder that if you take out a loan for anything other than university or a house, you are a massive fucking idiot.

dumbass amerifat.

pay it off you cuck

>Taking out loans for University
wew

It's a new Britistan tradition

>University loan
>Poorfag

>It's tradition to get cucked
Lmao

First off, why do want a second car?

Secondly, pay the thing off before you do anything else.

get a debt consolidation card with 0% interest and put it on it.

>taking a loan out on a house
>4% apr on $100k for 30 years is $80k in interest.
>paying for a house....twice
Now that is fucking stupid.

No one is forcing you to get a 30 year loan, just like no one is forcing you to invest your money in the market for 7% interest.

Povvo just pay it off like the rest of us

the smartest asnwer if you question would be it depends on how much your payment is and what your monthly takehome is

you dont want to spend all the cash you have then have somthing happen that you coulda used tge money for


if you make like 2k a month and your payment is 500$ then just do a 35% larger monthly payment and sit on your cash reserve

Trying to get a mortgage for, what converts to, $2.2M US. Rent is $1,000/w. Americans have it easy when it comes to housing.

Where dis

>Car loans are for faggots
what about 0% loans?
Literally a discount when you factor in the time value of money

>80k in interest
>In a market that's always appreciating

Chances are in 30 years that 80k spent in interest will pay for itself. Unless of course you bought property in a complete shit hole that has no chance of being turned into something useful.

I've been considering purchasing a few acres of garbage land in Detroit as it's so cheap. Businesses are looking to leave commiefornia and silicone valley. They have to go somewhere. If the businesses move to Detroit land prices will sky rocket there.

Real estate is almost always a great investment. Land and housing prices are still rising. It's very unlikely we'll see a crash in the market in our lifetime.

30 year loans are stupid anyway.

Full coverage isn't much more than the bare minimum. I pay $30/month more for full coverage, excluding glass. If I crash it I'm not reporting it until it's considered totalled in the insurance eyes.

>Loan for University
Because student debt is a great idea. Aim for government assistance and work a full-time job.

What's the interest rate on the loan? I took an automotive loan at 1.99% interest to continue building my credit while spending my savings carelessly on stocks. Probably switching to crypto here soon as I'm cucked by the day trading rules.

NZ