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Serious question, is paying off the car early actually the wrong move?
Everyone keeps saying throw every spare dollar at the car loan, but I went the other way and put $150 a month into a plain savings account instead. My rate is only 4.9% on the balance, and after 8 months I've got $1,200 sitting there that I can actually touch if the water heater dies. Paying the loan down faster mostly just feels good on paper, and once that money goes to the bank you can't ask for it back. Maybe it's just me but a small cushion beats a slightly smaller balance, has anyone here picked the savings side over early payoff and regretted it?
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