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Does anyone have any tips for paying off your car faster?

I only owe $6k on it. I really want to pay it off before the end of the year to avoid the annual interest because mine is especially high
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Matt85 · 36-40, M
try the slots in vegas

(kidding, don't do that)
robertsnj · 56-60, M
In my 20's I was in the same boat once. I worked retail for the xmas season and made a good chunk of spare change due to the hours -- What I don't know is if retail offers the same hours with Amazon and online sales really biting into their profits However if you had an amazaon warehouse or something that could be an option. .

It is really tough option though---I would get off of my 40 hour week job and work another 25 hours a week and then during the week before xmas and the week after xmas I was off my day job but worked 65 at the store.

All i did was sleep and work for 4 months - I think I made 4-k from the part time job in those 4 months after taxes and deductions. I don't know if that would work today with online sales being so much of xmas profilts

either way part time job in something may be your ticket and good luck.
Orca4950 · 70-79, M
Can you double your payment amount so the second payment is against the principle?
DeluxedEdition · 26-30, F
@Orca4950 yes I actually just made a $700 payment which is a little over double
SW-User
@DeluxedEditionEvery little bit.
SW-User
@DeluxedEdition You would need to double that and then some to pay off $4K by the end of the year. There's only 4 months ...
SW-User
Cook at home/ make coffee at home ... don't throw your money away
DeluxedEdition · 26-30, F
@SW-User this is great advice. I started doing this to combat the inflation after covid. Thanks to this I still pay nearly what I paid for groceries pre covid 🤭

Recently I switched my phone plan to something really cheap so I can use the extra money to pay for my car instead
SW-User
@DeluxedEdition I'm astonished at how much people are paying per week just for take away coffee...ludicrous..then they complain they can't afford this and that 🙄
DeluxedEdition · 26-30, F
@SW-User l I was getting coffee every day and I did the math and that totals out to approximately $200 or more a month if I purchase only one cup a day. That’s enough money to pay an entire bill. And this was pre Covid inflation

I learned how to make all the fancy coffees I love buying from the shop and just make them at home.

Now if I got coffee everyday it would probably cost 300-400. These things definitely add up
TexChik · F
Some S&Ls will refi your note .
DeluxedEdition · 26-30, F
@TexChik how do you know if it’s a good deal or not?
TexChik · F
@DeluxedEdition The interest rate . They will explain how much you will save .
IronHamster · 56-60, M
Get a second job and plough that paycheck into the loan.
Don't buy Marijuana
Patriot96 · 56-60, C
At the end of the day put you pocket change in a jar. At the end of the year youll have enough for payment on principle
What's the principal amount? Can you pay additional amount with the installments which you pay?
wildbill83 · 41-45, M
start an onlyfans account and use the profit to pay off car? 🤔🥴
WolfGirlwh0r3 · 36-40, T
larger payments means fewer payments
Classified · M
A help [@DeluxedEditiom] through the winter fund? 😬
MrBrownstone · 46-50, M
uncalled4 · 56-60, M
All I can think of is if you can get a loan with better interest, try that, but it may not be the time to do that.
DeluxedEdition · 26-30, F
@SW-User
pay it off sooner than you would have and pay less than you would have?

Could you elaborate on this please? 🙂 🙏
SW-User
@DeluxedEdition Well, I can only elaborate money is finite.... What you have is what you have. But the more you put to the loan, even if it means not having this for a little time, think of what you might call a luxury, (I like my luxuries I admit), and even just put that much more to the loan, and you pay less in the end on the car. I'd love to, but I can't make money magically appear in your wallet, but I can remind you, as I'm reminding myself with debts, fuck the creditors... (priorities)

I'm just finding myself giving much more that way... working more, paying more... spending less... in ways I never imagined.
SW-User
@uncalled4 you could get extra student loans and pay it off.

The intetest will be deductible
Pay more money squire
MoonaNorth86 · 36-40, F
Increase your payment

 
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