The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  http://boards.fool.com/if-you-plan-on-having-43000-in-the-bank-within-2-22969882.aspx

Subject:  Re: Real-Estate Leveraging Date:  9/1/2005  8:58 AM
Author:  imsaving Number:  47525 of 75792

If you plan on having $43000 in the bank within 2 years, why couldn't you first use a portion of that to pay off the car loan, then use the extra savings that puts in your pocket to pay off the other loan?



The reason is because if I refinance and have a small payment, this will enable me to save the $43000 a lot easier within 2 years. If you notice above, I will cut my payments in half. That's why they call it leveraging.

Also the installment loan is secured with my home property with a 5.8% interest. The car loan is around 5% as well.

Interesting thoughts from all of you.

imsaving
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us