Let me start off by saying that yes I know this is the stupidest thing I could have done but I’ll learn from this. In January of 2021 I went out with my dad and financed a 2010 Dodge Challenger srt8 at 699 a month 26% interest, the loan is under his name but I am the one who is maintaining the car and making the monthly payments. My question is what do I do to quickly pay off the car as soon as possible because I currently make 3650 a month and 699 goes toward the loan, 200 towards groceries, 105 towards insurance, 76 towards phone bill and about 150 a month towards gas. That leaves me with around 2420 a month ,should I make extra payments towards the principal or save up 20k which I can do in about 9 months to do a full payoff. I don’t think refinancing is a choice right now as my dads credit score is not so good and I’m currently 6 months into building my credit score and I have been making all of my credit card payments on time and have been keeping the utilization below 30%.
Submitted June 19, 2021 at 06:48AM by Fernando758 https://ift.tt/2UdTprv
