Monday, August 15, 2011

Best way to pay loans (school or car)? | The Top Finance

I just graduated and make 100k (prior to taxes)/yr but also have a 96k loan perfect now. I really desire to but a car for 50k. I still live with my parents and i dont have any other bills. Which choice may be the most effective?
Should I:
- save for 8 months.. to buy the auto to stay away from financing then continue to pay off my school loans without having worry about automobile payments in 2 years then save for a house following school loans?( But downside some interest may well accrue over the 8 months on my school loans but I?m positive it is not going to be considerably.)
- pay my student loans and finance a automobile everymonth over a longer period. Payoff (student loan in about five years) and finance a automobile (over 4 years)..then save for a house
-or not invest in a auto until I pay off the student loans in 2 years:( then auto then new residence ?

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Source: http://www.thetopfinance.com/best-way-to-pay-loans-school-or-car/

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