Kaschi
2019-09-16 14:24:05
- #1
Hello everyone,
In December 2017, we took out a loan for our house amounting to 340,000 euros. Repayment began in June 2018. Interest rate 1.91 percent. 5 percent special repayment possible per year. Term 10 years.
In February 2019, we took out a consumer loan for a new car amounting to 25,000 euros. Interest rate 0.69 percent, term 4 years. Special repayment possible at any time.
We are now considering which loan to make a special repayment on at the end of the year (approx. 10,000 to 14,000). On paper, it makes the most sense to repay the house loan. However, we are planning to have a child, so the then faster disappearing rate of approx. 528 euros for the car would be more flexibly usable. Besides, there is a good feeling in having to service only one loan.
How would you decide?
In December 2017, we took out a loan for our house amounting to 340,000 euros. Repayment began in June 2018. Interest rate 1.91 percent. 5 percent special repayment possible per year. Term 10 years.
In February 2019, we took out a consumer loan for a new car amounting to 25,000 euros. Interest rate 0.69 percent, term 4 years. Special repayment possible at any time.
We are now considering which loan to make a special repayment on at the end of the year (approx. 10,000 to 14,000). On paper, it makes the most sense to repay the house loan. However, we are planning to have a child, so the then faster disappearing rate of approx. 528 euros for the car would be more flexibly usable. Besides, there is a good feeling in having to service only one loan.
How would you decide?