My question is: considering that principle of my student loan is $33,000, should I work on that before the car loan since the interets it accrues daily is more than the car loan? Yes it has a lower interest rate, but right now it costs me more on a daily basis.If all the loans are fixed rate loans, then it is always better to pay off the loan with the highest interest rate first, regardless of the loan amounts. Your car loan is actually costing you the most per dollar borrowed on a daily basis.- tmeri
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