Low Interest Rate Car Loan Should I Pay Off A High Interest Rate Student Loan First Or My Low Interest Rate Car Loan?

Should I pay off a high interest rate student loan first or my low interest rate car loan? - low interest rate car loan

Probably the highest rate, but I know some things. First, you can deduct interest on student loans for your income tax if you earn less than $ 65 thousand a year, but there are limits (U.S. $ 2500/year), and if we make between $ 50 billion to 65 miles per years can not have both. If the student loans is just 1% higher, after the issue of taxes, could in practice less than B / C to get money.

Do you have a variable interest rate? The auto loan may be lower now, but may at a later date?

And the loans are set so that if you pay a portion of what you do for a short period in the future or a lower monthly payment for as many months, the same monthly payment? Learn and think if you repay the loan, or is it better to want money for the hand if necessary.