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pay off loan?

  • 06-04-2004 2:08pm
    #1
    loyatemu
    Registered Users, Registered Users 2 Posts: 15,331 ✭✭✭✭


    bit of financial advice needed here

    I have a car loan with about €8k left on it.
    I also have shares worth about the same amount

    should I sell the shares and pay off the car loan?
    the stock market is fairly sluggish at the moment - I could then put the money I'm no longer paying on the loan into my ssia and make 25% (or whatever the rate on it is)


Comments

  • #2
    silverside
    Registered Users, Registered Users 2 Posts: 1,372 ✭✭✭silverside


    First priority - add to SSIA - will gain 25% in 2 or 3 years plus interest, that's about 12% a year.

    Second priority - pay off your loan. You're probably paying 10 or 11% on it.

    Sell the shares, no point borrowing to invest. You can always buy new shares when your finances are more settled.


  • #3
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    Would paying off the car loan early give a bad credit history or no difference ?


  • #4
    Victor
    Registered Users, Registered Users 2 Posts: 78,580 ✭✭✭✭Victor


    Originally posted by gurramok
    Would paying off the car loan early give a bad credit history or no difference ?
    It would be considered neutral to good.


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