Save or Pay Off Your Car Loan || What's Smarter for Your Wallet? || Hack Your Finances

There is no answer to that question as such but you can maximize it with the help of this video where we tell you, should you pay off your auto loan early or save the extra and invest. In this article, we will weigh the financial pros and cons of each, inclusive of interest rates and opportunity costs, to ensure that you are making the right choice for your wallet. Want to try these strategies with different numbers? Play with our calculators & find out for youself! Get more tips on how to manage your money, pay off debt, and achieve financial independence Subscribe here

Timestamps:
0:00 -Intro Weigh: Pay vs Save Car Loan
0:26 - What is Opportunity Cost in Financial Decisions
0:53 - Video Overview and Subscription Prompt
1:24 - Scenario Setup: Car Loan vs. Saving Money
1:59 - Example Details: New Car Loan Terms
2:37 - Paying Off Car Loan Faster: Different Scenarios Explained
3:11 - The Effects of Extra Payments on Loan Duration and Interest
4:16 - Scenario Analysis: $100 vs. $200 Extra Payments
5:26 - Alternative Strategy: Investing Extra Money
5:54 - Assumed Interest Rates and Tax Rates for Investments
6:23 - The Analysis Btwn Savings vs. Investment Returns
8:10 - How Interest Rates Affect Decision Making
8:50 - Changing Variables: Different Loan and Investment Rates
10:24 - Conclusion: Variables That Impact Financial Outcomes Shockingly
10:45 - Final Thoughts and Call to Action

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Interest calculator:
https://hackyourcreditcards.com/calculators/interest-calculator/

Auto Loan:
https://hackyourcreditcards.com/calculators/auto-loan-calculator/

Auto additional principal:
https://hackyourcreditcards.com/calculators/auto-loan-payoff-calculator/

Marginal Tax Calculator :
https://turbotax.intuit.com/tax-tools/calculators/tax-bracket

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