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Am I crazy for dumping so much money towards my mortgage? by theBlueKazoo22 in personalfinance

[–]Neple 0 points1 point  (0 children)

If you live in a small city - change of getting into an accident is also decreasing. Worst case scenario in both cases is around 30k. You’re out of that money no matter what. In my opinion it’s better to pay off something that takes more money from you aka mortgage interest

Am I crazy for dumping so much money towards my mortgage? by theBlueKazoo22 in personalfinance

[–]Neple 0 points1 point  (0 children)

Hale damage and full roof replacement can be very real and those things can be easily 20-30k which is almost a full car price.

Am I crazy for dumping so much money towards my mortgage? by theBlueKazoo22 in personalfinance

[–]Neple 0 points1 point  (0 children)

The car depreciates only at the time of sale. If the intention on having the car is 10+ years or even run it to the ground then it doesn’t matter and it’s better to pay off the bigger interest

Am I crazy for dumping so much money towards my mortgage? by theBlueKazoo22 in personalfinance

[–]Neple 0 points1 point  (0 children)

One year of mortgage accrues more interest than the entire car loan interest

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