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Updated over 3 years ago on . Most recent reply

Champ Leong's profile image
Champ Leong's profile image
Champ Leong
  • Investor
  • from Birmingham, AL
  • Member since Jun 22, 2020
  • Posts 82
  • Votes 27
  • Experience 4 Yrs
  • Investments 1
Connect

User Stats

82
Posts
27
Votes
Champ Leong's profile image
Champ Leong's profile image
Champ Leong
  • Investor
  • from Birmingham, AL
  • Member since Jun 22, 2020
  • Posts 82
  • Votes 27
  • Experience 4 Yrs
  • Investments 1
Connect
Champ Leong
  • Investor
  • Birmingham, AL
27
Votes |
82
Posts
Goals, Business Plans & Entities

Personal loans: "Free up cash" vs low interest

Champ Leong
  • Investor
  • Birmingham, AL
Posted

I have a very good interest rates on my truck and home. 1.99/2.5. I have considered paying those down to "free up" cash long term, but I'm also considering the facts that my loans, especially on the truck, are  nearly FREE MONEY. The 1.99 is 7 years while the 2.5 is 30. I don't save very much on the 7 but I save a lot on the 30. What are the advantages/disadvantages of paying off these loans early? TIA!

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