i would use the savings to pay the car off completely. you would still have a good emergency fund in tact and you will have the 500/month to either rebuild the savings if you wanted or to invest elsewhere

5

Not to mention you could technically keep putting that extra $200 in savings biweekly if you removed your car payment and grow that even more

4

Why are your savings rotting away?? With inflation they’re just gonna lose value

3

I'd pay it off at that rate if you have a good emergency fund, a 7% guaranteed return beats 4% cash (less tax) Max the IRA and HSA if you have one tho Max the IRA and HSA if you have one tho

3

6.9% is a great interest rate nowadays. I wouldn’t worry about trying to pay that off unless you can get another loan for better. Use your savings to make your money work for you. 42k is a great stash to sit on. Take a 1/4 of that and learn about options trading. Selling premium can generate income if you understand bet sizing. Tastylive on YouTube is a great resource. Manage your risk properly and you’ll continue thriving. Good luck.

3

Savings is probably earning less than 6.9% after tax sooooo pay that shit off now.

2

It depends. What yield are you earning on your savings? If you’re making 5%, you would make approx 650. But you’re paying $900 in interest (ignoring the compound effect) Overall I’d say you’re likely better off paying it, but if you have a tiered interest and you’re making over 6.9% on your savings, then I’d recommend you stay your current course

1