Payoff or Mod!

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Nov 19, 2012 | 10:18 AM

#31

Franchi Motorsports

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From: Ohio

Yes, no whining to mods allowed in this thread! :-)

Nov 19, 2012 | 10:36 AM

#32

John50

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Joined: Oct 2012

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Quote:

Originally Posted by 05screw

Do you have any other smaller loans to pay? If so pay those first with your extra cash and then put the rest towards principle on your truck.
Take the amount you were paying monthly on the smaller bills and add that to your current truck payment.

^this. Best advice ever. It's called the debt-snowball method.

Nov 19, 2012 | 10:46 AM

#33

05screw

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Joined: Sep 2012

Posts: 97

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From: Wayne County, Ohio

Quote:

Originally Posted by John50

^this. Best advice ever. It's called the debt-snowball method.

Works every time. I tell all my clients to do it.

Nov 19, 2012 | 10:47 AM

#34

militaryrednek

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From: Lawrenceville, GA

Quote:

Originally Posted by Franchi Motorsports

Yes, no whining to mods allowed in this thread! :-)

Nov 19, 2012 | 12:06 PM

#35

bhollins29

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Joined: Nov 2012

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From: va

I dont have any other loans. But i never thought about the insurance..good point

Nov 19, 2012 | 12:37 PM

#36

Brandmaner

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Joined: Dec 2011

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From: Texas

Quote:

Originally Posted by bhollins29

I dont have any other loans. But i never thought about the insurance..good point

Around here full coverage cost the same with or without a lien

Nov 19, 2012 | 12:40 PM

#37

bhollins29

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From: va

It might with me to. Im from virginia

Nov 19, 2012 | 12:53 PM

#38

Sparkie04FX4

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From: Northern Illinois

I would say it depends on how much more of your loan term you got left. If not much longer, like a year or so, I'd say mod it. If you got awhile tho, or one of those ridiculous long terms... Then pay it off.

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