House or car special repayment at the end of the year

  • Erstellt am 2019-09-16 14:24:05

fragg

2019-09-17 11:59:20
  • #1
hadder's right, but later is not now. right now they don't care if it says adidas or adiadas on it, and whether they dig in the sand behind the house, at the Baltic Sea or in the Caribbean.

in six-seven-eight years it will look different
 

Joedreck

2019-09-17 16:07:48
  • #2
I would pay off the car. Until the child is here, then save the money as a reserve for a new car. Although you save interest with the special repayment, you might become less flexible. That would be my approach. And I have also only agreed on a 10-year fixed interest period. What big thing could happen? But staying flexible is personally important to me. How important it is to you, you have to decide.
 

dollartas

2019-09-17 22:56:40
  • #3
Is it even necessary to repay with these low interest rates? 1.91% on 10,000 EUR is 191 EUR per year. Better to have the money as a reserve in the account for unforeseen events? Also, you should try to move away from the 1.91% because the current interest rate environment is around 0.6% p.a.

Talk to your bank about whether you can make special repayments and at the same time borrow at the current conditions?
 

Musketier

2019-09-18 06:40:14
  • #4

That's exactly what he did with the cheap loan for the car.
By the way, the interest rate for the second rank is not at 0.6%.
 

guckuck2

2019-09-18 06:59:43
  • #5


You forget the compound interest effect.

The answer here is very clear: pay off the most expensive loan first. The other reasons are just mental constructs without a rational basis. Liquidity is not a problem for the OP, and if it is, the special repayment can simply be a bit lower. Children do not cost thousands either; these are luxury problems of high earners.
 

Joedreck

2019-09-18 09:12:18
  • #6
So my children have cost a good 400€ each from the age of 2, purely for childcare. In addition, very regularly new clothes, more food, trips, vacations, toys, possibly insurance.. Everything becomes more expensive with children and the child benefit does not cover that. The most economical option is not always the better one. I stick with the car. That's a few euros left every month. If the installment is gone, at least one child can come without having to change living habits.
 

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