Attaboy

The way things are going there won't be any to drive.

do the math ---- $50K for a truck at ZERO interest is still $50K . Take that same $50K and and invest it in a CD , money market , stocks etc..... If you could get 2% on that $50K --you just made $1K towards your next purchase ----you get it now ?

What about if you could get a hamburger today…and pay for it next Tuesday?

Don't pay off a zero percent interest loan out of savings.

If you consider the time value of money, you will actually pay them LESS if you pay it out over time.

People should do things based on feelings. Your usage of critical thinking just shows how out of touch you are.

You could pay off the existing 0% loan by taking out a new loan from yourself with a higher rate of interest, for example 10%. By the time you pay yourself off on the new loan you will have 10% more to use on the next truck. Make sure your payments are less than $600 per payment so the IRS does not track you under the new proposals.

Why would anyone pay off a 0% loan....aka FREE money....unless you have cash flow problems?

Don't pay everything off... The gov't is gonna announce loan forgiveness month where were all gonna be able to have at least one loan forgiven for each person in your household... Dan

keep the payments, while it is probably not much a savings acct. is paying interest you are not.

if you pay it off you lose the interest your savings would have accrued over the time of the loan, the truck will cost the same if you pay it off now or keep making payments. keep the savings going and brace yourself for the next inflation announcement, you may be real glad you have some extra cash in the bank.

jmo

Say what?

Smart moves according to my experience. The goal is to be old and healthy and free of debt. At least 2 of those 3.

I'll shoot it off for ya. No charge, You furnish the beer.