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Car loan or mortgage?? Which to put money into

  • 24-01-2020 5:16pm
    #1
    Registered Users, Registered Users 2 Posts: 73 ✭✭


    Hi all,
    We have a car loan of aprox 16,000 and a mortgage approx 130,000. We have been gifted 6000 euro and will be gifted this each year by my parents going forward. Are we better off paying the 6000 into the car loan and try to clear it or into the mortgage?
    Thanks a million.


Comments

  • Registered Users, Registered Users 2 Posts: 1,290 ✭✭✭dar_cool


    Car loan will cost alot more so get rid of that first


  • Administrators, Computer Games Moderators, Sports Moderators Posts: 32,649 Admin ✭✭✭✭✭Mickeroo


    Agreed. Sooner car loan is gone the better.


  • Registered Users, Registered Users 2 Posts: 73 ✭✭jimmers23


    Thanks a million for your replies. Very helpful


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