- Oct 9, 2008
would.ing direct be the best?
I agree, checking into bankrate is not a bad idea, but I use ING and tend to enjoy having their orange checking for play cash and their savings for savings. They were the highest interest-bearing savings at the time but over time they've reduced their APR by more than half. That's life but it's still more than what my bank offers.Look around on bankrate.com. They tend to have pretty decent numbers on their. It really depends on if you need to be able to access the money on a whim or if you just have it and want to put it aside long term.
Helpful.you could put it into my savings account
This is how people get suckered into financing so easily.from selling my old car. and if i put the money down to pay part od my loan off the intreat would still be the same and the monthly payments would be the same just a smaller term.
This illustrates it perfectly. With these figures in three years you save $223 by paying down the loan. That's $74.33 a year, equivalent to 3.7% tax free interest. If you can find better than that on a three year deal you'll be lucky.If your loan is $10k figure your rate at 7% with 36 total payments. Over the LOL you will repay $11,115.72 (give or take). If your loan is $8k, same rate and term you'll repay a total of $8,892.72. That means you'll pay more over time if you finance $10k than if you financed $8k.
Then you should never of bought a new car then because clearly from these 2 threads you completely lack any type of an emergency fund and willing to betfrom selling my old car. and if i put the money down to pay part od my loan off the intreat would still be the same and the monthly payments would be the same just a smaller term.
The truth is there is no such thing as a "high interest" savings account anymore. The federal reserve has driven interest rates way down.would.ing direct be the best?
Or you can pay down the loan you took out with that 2 grand and likely save over $60 a year in interest over the life of the loan and come out ahead in the long run.
And how much interest are you paying for your loan? I'm guessing atleast 7-8%, if you are really lucky.
Your numbers are useless to us. We need your interested rate to figure it.This is what I pay every month I have 59 payments left.
Interest Amount -$21.68
Loan Principal pymt -$167.76
So what would I save if I put down the $2000.00
Current balance: $9,572.27