Should I Invest or Pay Off My Car Loan Early?

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In this video we are talking about whether or not you should invest or pay off my auto loan? To answer this question COMPLETELY and COMPREHENSIVELY, you cannot just focus on the math. Additionally you have to include the emotions and psychology. We will do BOTH in this video.
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I could not agree more with you Joe. Debt is crushing!!! I have been trying to do both but honestly every time a debt disappears it feels amazing. Another absolutely fantastic video!!!

billhaskins
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Paying of the car loan increases your cash flow

FMJ
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Exactly what i wanted to see.. Thank you!!

Kohli_Ishan
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I like how you have ideas about different scenarios, but also point out the human factors.. Good stuff.

thebeardedrooster
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This was an amazing video and you inspired me to use your format to see what would happen in a scenario of paying $20, 000, $5, 000 or $0 upfront and investing the difference over that same ten year period.

ghostmane
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I like this scenario. However, not once did you mention the depreciation of said vehicle. Also, I think the question needs to be asked, "Would you borrow money to invest?" I know I wouldn't and investing without paying the car off as fast as possible is doing just that. Great topic for discussion.

Pecunia
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The old adage that debt is only useful to those who don't need it rings true.
Especially for an auto, a liability, loan, I would only consider holding onto the debt it I literally had savings to just pay it off or a level close to that. Then it is just a tactical decision based on the interest rate, which is bound to be low at that point.
The only disagreement I'd hav is making sure you have a 6 months savings first. Having your car repossessed but enough savings for rent and food before you can get a new gig sounds like a good trade.

carriermodulation
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Great video, is it possible to make that spreadsheet available. It’s really helpful. The math makes having the loan easier and waiting to pay it off. Would you recommend that option if you also have the cash available to pay off the loan at any time?

alexanderbernard
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If the stress of debt is that crushing upon you, I'd pay iff the car asap stress can negatively impact your physical health, cause poor performance at work and at home. Less stress, stronger health

Ndasuunye
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Can you make your spreadsheet downloadable? I was hoping to plug in a 2.19 Interest rate on a 30k car loan. Excellent video by the way!

JoeRussellProductions
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Joe. Have you done a video on when it's wise to rebalance? I am way overweight in 2 funds inside my 401k. But, I have heard rebalancing is not always a wise move depending on the account.

GySgt
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I got a question bro…I wanna sell my car, I owe 10k on it but it’s worth over 25k…should I finish paying it off first or should I sell it to a dealership and just keep the difference??…thanks

eddiesanchez
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This is interesting as I have just bought a car and I'm still investing.

TETrading
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Is it a bad idea to get a personal loan to pay off car loan . Fyi I longer want this car due to a few reasons.
What do you suggest I do
Thanks

smae
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I owe 30 000 at 11 percent im psying 660 a month, im investing about 1300 a month im here to see if I should pause my investments and get this loan done i have no more credit card debt im 44 yrs old so i want to go heavy in investing. With that said, let me watch this video

coryjohnson
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Whats all that backround noise hard to focus

amycolucci
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What do you think about plug power stock I seen a few say buy it before it goes up????

willaimbishop
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The only discussion I would like to start is what if u have to take money out of a index fund to pay for the car in cash or something like that. Your rate of return would drastically decrease due to the fund starting at much lower rate. Starting this at 50, 000 vs 30, 000 (assuming a 20, 000 car purchase) would yield much different results

logan
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If you have a low interest auto loan, say less than 3%.. I wouldn't pay it off. The rate of inflation is much higher. Invest and just pay the loan with weaker dollars.. 🤷‍♂️

thebeardedrooster
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My car is 7 % interest, I invest a very small portion besides my 401k on the job..I pay double on my car loan, calculated being payoff within a yr..

malawilake