Your account is suspended
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Pay off you highest interest loans first. If the only loans you have are auto loans then yes, pay them off. |
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Bill G
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i say if you can pay off the loan.......any loan for that matter, then do it........that is less money that you would have to pay in interest if you did so, so it is definitley to your advantage. |
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EVEC
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Yes definately! |
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Tony R
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yes |
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peaches6
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Congratulations! I would payoff the highest interest loan first and invest the rest. Good Luck! |
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salamander2090
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Thats how I am with money. When I have a lump sum I like to pay things off while I have it. In the future when you dont have to pay those bills its really nice even though you think that it would be nice to just spend it. It will help you in the long run if you pay things off. then the cars are yours and you have the car payment every month that you dont have to pay! |
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smartiebc
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Yes, you should try to pay off at least TWO big bills, Congrats on the win! |
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stan c
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Put it in the Bank and just sleep on it. You can decide later what you want to do with the money. |
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Daniel G
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assuming uncle sam has already gotten his share, pay off any short term debt you have (car loans, credit cards, home equity line of credit). Invest any balance in mutual funds with annualized returns of 15% or more (on average) over the past 10 years. |
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Blinks
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do whatever you want with it. |
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Rainy
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depends on the interest rate if you got a 2% on the car loan and could get 4.5% by putting the money into savings your still making 2.5% but if your car interest rate is 6.9% then it would be smarter to pay off the car . . . . |
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newmangrrl
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the best thing to do is pay off any high interest debt. That way your saving yourself money. If your auto loans have the highest interest or are the only debt that you have, then go for it. |
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BeenAroundTheBlock
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If the amount of interest you would earn from investing the money is less than the amount of interest you are paying on the loans (which is likey), taking taxes into account, then by all means pay off the loans. |
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proverbsfinancial
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Payoff your highest interest rate debt first (this could be your auto loans). Don't forget to save enough to pay your taxes. |
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dawnstar
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yes. lets say you spend it otherwise. a few months from now you will wonder where the money went and have nothing to show for it. or you will buy something cool and end up getting bored with it anyways and kick yourself for not doing the responsible thing. paying off your debts may suck for a little while but it is the mature thing to do. you will have extra money every month since then and buy the stuff you want. plus it will help your credit immensly. and then you can really get what you want with good credit. i think you know the mature thing to do. so do it. |
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pussmog35
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Spend it on beer & loose women |
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rajasnimishe
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YES |
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KeLLe
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yes definatly!! you would seriously regret not doing it when the money is spent and gone if you dont. if you have enough pay it all off and hopefully you will have a little left for yourself. then when the loans payed off you can relax and head on down to casino and try your luck again!- in ease, knowing you have no outstanding debts! |
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Rosie25
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Pay off whatever has the highest interest! If that's your car loan, than pay it off! And if you have any credit card debt, put money towards that as well. Then place the rest in a CD or high yield savings. |
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