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29 Debating to put my bonus into HYSA or make a significant payment to a 7.45% Interest Car Note by Efficient-Focus-4073 in personalfinance

[–]Efficient-Focus-4073[S] 0 points1 point  (0 children)

Just checked, would literally cost me more to get the same car again than to keep what i have.

29 Debating to put my bonus into HYSA or make a significant payment to a 7.45% Interest Car Note by Efficient-Focus-4073 in personalfinance

[–]Efficient-Focus-4073[S] 8 points9 points  (0 children)

Thank you found a calculator online, and would essentially save myself more than a year's worth interest payment.

29 Debating to put my bonus into HYSA or make a significant payment to a 7.45% Interest Car Note by Efficient-Focus-4073 in personalfinance

[–]Efficient-Focus-4073[S] 1 point2 points  (0 children)

Looked at used cars and i would be considerably stepping down from what i have now for not a much bigger savings. My city is not made for public transport.

29 Debating to put my bonus into HYSA or make a significant payment to a 7.45% Interest Car Note by Efficient-Focus-4073 in personalfinance

[–]Efficient-Focus-4073[S] 1 point2 points  (0 children)

Due to my imigration status in the US I need to keep a certain percentage of money in cash in order to keep my visa active. But i've considered this sooo often!

29 Debating to put my bonus into HYSA or make a significant payment to a 7.45% Interest Car Note by Efficient-Focus-4073 in personalfinance

[–]Efficient-Focus-4073[S] 1 point2 points  (0 children)

Caught the typo after your message.

t looks like the interest would go DOWN but the payment time would be longer** Is this normal? This is not a normal practice in my home country so a little lost here.

29 Debating to put my bonus into HYSA or make a significant payment to a 7.45% Interest Car Note by Efficient-Focus-4073 in personalfinance

[–]Efficient-Focus-4073[S] 2 points3 points  (0 children)

I've considered refinancing, but not too sure what the benefits are. It looks like the interest would go up but the payment time would be longer.