.

SmartMoney Blogs

Ask SmartMoney
Your personal finance questions, answered.

Should I Pay Off My Car Loan?

QUESTION: I have paid 24 months of a 60 month car loan. I still owe $10,500 to pay it off but the payments are now too much for me, despite an interest rate below 5%. Should I cash in some stock or  use my equity line (over 5%) to pay it off, or should I hold on a few more years to get a slightly better percentage back on a sale?

–Robin Gregory, Enka, N.C.

ANSWER: If you owe more than the car is now worth, you probably won’t be able to refinance the loan — and you’ve already got a lower-than-average interest rate anyway, says Tanisha Warner, a spokeswoman for Money Management International. If you could sell this car to buy a new one without a loan, selling now might make sense; if you can continue making the payments or pay the loan off quicker, you may as well wait to sell later, Warner says.

But, if the payments have become too much to handle, the best option is probably to call the lender and ask to restructure the loan based on the current balance, Warner says.

Adding this loan to a home equity line of credit isn’t a great idea, because you’ll be paying a higher interest rate, and if you fall behind, it’s your home at risk instead of your car. “The interest rate and the risk is higher,” Warner says.

Selling some stock only works if you don’t need the money any time soon. Depending on how close you are to retirement, however, you’ll have to consider how long it would take you to replenish those savings, says Warner.

Comments

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (5 of 7)

View all Comments »
    • By WebOsPublisher

      Welcome to the AVG Forums. Here you can share your knowledge,ask questions and discuss all type of issues with other AVG users. Stay protected with AVG.
      AVG | AVG Support and Discussion Forums
      AVG Forums
      Forum
      Search
      Login
      Register
      Join Beta Program!
      Support Center
      AVG.com
      English
      ДЊesky
      Deutsch
      English
      EspaГ±ol
      Français
      Italiano
      Nederlands
      Polski
      PortuguГЄs
      Tweet
      .twitter-share-buttonheight:63px !important;
      #social-bannerdisplay:none;
      .normalBorder border: 1px solid #CDCDCD;
      #link background:url(“/stc/tpl/crp/img/forum-banner-arrow.gif”) 0 0 no-repeat; padding:5px 0 5px 25px;
      Can’t find the answer you are looking for?
      Get free phone support.
      AVG Forums » AVG Free » AVG 9/8.5 Free Editions » Green Icons On Link Shield No Longer Work
      New threadReply
      Page 1 of 2 12›››
      September 27, 2011 01:20
      Green Icons On Link Shield No Longer Work
      #174344
      Reply with Quote | Quick Reply | Top
      LondonWA
      Novice
      Join Date: 27.9.2011
      Posts: 8
      After more than a year of working nicely, suddenly a few weeks ago, there are no longer any green icons on any (Google) web link, except sponsored links. Vast efforts by me, to solve this, did not work, so I twice have spoken to the support at AVG. They are polite, but all their suggestions have not worked out. I uninstalled AVG 9.0, at my great concern, as they requested, since they said an upgrade to 2012 would solve the problem. It didn’t, plus the 2012 caused other problems on my computer. Naturally, my computer has been restarted more than once, and I complied with all they suggested. I am not able to delete cookies, passwords etc. I have called back, as they suggested and cannot reach anyone. I uninstalled 2012, at great time and effort, and reinstalled 9.0, which still does not work to display the scanned results of web pages and of course, the green icon, a crucial need.
      September 27, 2011 10:40
      Re: Green Icons On Link Shield No Longer Work
      #174384
      Reply with Quote | Quick Reply | Top
      BIG AL 43
      Moderator
      Join Date: 18.6.2009
      Posts: 20586
      LondonWA wroteso I twice have spoken to the support at AVG.. I have called back, as they suggested and cannot reach anyone
      The AVG Team are now monitoring this new AVG Forums so someone should spot your posting! They may enter the forum @ anytime.
      AVG Free Volunteer ModeratorAVG Free Forum member since – Nov. 27, 2004My total posts on the Old AVG Free Forum – 27,063
      AlanHow-To Articles | FAQ | Free Support
      September 28, 2011 03:54
      Re: Green Icons On Link Shield No Longer Work
      #174549
      Reply with Quote | Quick Reply | Top
      LondonWA
      Novice
      Join Date: 27.9.2011
      Posts: 8
      Hi. Thank you. Is that good? Also, I could not find a way to be notified of replies.
      September 28, 2011 09:14
      Re: Green Icons On Link Shield No Longer Work
      #174565
      Reply with Quote | Quick Reply | Top
      fahadhasin96
      Hacker
      Join Date: 22.5.2011
      Posts: 445
      LondonWA wroteAlso, I could not find a way to be notified of replies.
      If you wish to be emailed when someone posts to your thread, click on the link labeled Tools (screenshot attached) > Subscribe to this thread. To revisit or manage your subscribed threads, go into your Profile > Subscriptions.
      Best Regards,
      Fahad Hasin,Hacker,AVG Forums
      AVG Forums’ member since – 22 May, 2011
      How-To articles | FAQ | Free Support
      September 28, 2011 10:50
      Re: Green Icons On Link Shield No Longer Work
      #174574
      Reply with Quote | Quick Reply | Top
      BIG AL 43
      Moderator
      Join Date: 18.6.2009
      Posts: 20586
      LondonWA wroteI could not find a way to be notified of replies
      This is actually covered in the ‘Information’ forum area Announcement post How To Ask For Help In AVG Forum (Scroll Down).
      AVG Free Volunteer ModeratorAVG Free Forum member since – Nov. 27, 2004My total posts on the Old AVG Free Forum – 27,063
      AlanHow-To Articles | FAQ | Free Support
      September 28, 2011 14:37
      Re: Green Icons On Link Shield No Longer Work
      #174618
      Reply with Quote | Quick Reply | Top
      LondonWA
      Novice
      Join Date: 27.9.2011
      Posts: 8
      thank you both
      September 28, 2011 15:07
      Re: Green Icons On Link Shield No Longer Work
      #174624
      Reply with Quote | Quick Reply | Top
      BIG AL 43
      Moderator
      Join Date: 18.6.2009
      Posts: 20586
      OK LondonWA, No probs.. AVG Team should see your original post.
      AVG Free Volunteer ModeratorAVG Free Forum member since – Nov. 27, 2004My total posts on the Old AVG Free Forum – 27,063
      AlanHow-To Articles | FAQ | Free Support
      September 29, 2011 05:36
      Re: Green Icons On Link Shield No Longer Work
      #174714
      Reply with Quote | Quick Reply | Top
      Pokornyz
      a.techbuddy-forum-rank color: #bb2555; text-decoration: none; font-size: 12px;
      a.techbuddy-forum-rank:hover color: #000;
      TechBuddy Ambassador
      Join Date: 29.11.2010
      Posts: 4869
      Hello LondonWA,
      In order to analyze your situation please provide us with Msinfo output and list of Internet Explorer add-ons.
      Thank you
      ___________________AVG TeamHow-To articles | FAQ | Free Support
      October 1, 2011 20:55
      Re: Green Icons On Link Shield No Longer Work
      #175082
      Reply with Quote | Quick Reply | Top
      LondonWA
      Novice
      Join Date: 27.9.2011
      Posts: 8
      Hello Pokornyz
      Thank you. This seems to be possibly one of the most important needs of AVG, the missing icon. Enclosed is the compressed file you asked for. About the add ons, the phone support had me look at those and all AVG add ons are, and always were, enabled. I checked this and could not find any way to save that file to give to you.
      Can you please advise me, based on what you have from me now?
      Also, I was not notified of your response, although I had subscribed to the thread beforehand. This missing green icon problem makes it that I cannot open any web links from Google, because they might be a virus.
      Sincerely,
      LondonWA msinfo.zip
      October 1, 2011 22:59
      Re: Green Icons On Link Shield No Longer Work
      #175092
      Reply with Quote | Quick Reply | Top
      BIG AL 43
      Moderator
      Join Date: 18.6.2009
      Posts: 20586
      @ LondonWA
      The AVG Team are now monitoring this new AVG Forums so someone should spot your posting! They may enter the forum @ anytime but perhaps not over the weekend. It may well be Monday morning.
      LondonWA wroteAlso, I was not notified of your response, although I had subscribed to the thread beforehand
      You could try this avenue…. This Announcement post AVG Product Management Wants To Hear From You is actually situated in the ‘Information’ forum area. Please complete the feedback.
      AVG Free Volunteer ModeratorAVG Free Forum member since – Nov. 27, 2004My total posts on the Old AVG Free Forum – 27,063
      AlanHow-To Articles | FAQ | Free Support
      New threadReply
      Page 1 of 2 12›››
      Go to
      Select
      AVG Forums
      General Information
      Information
      AVG 2013
      AVG 2013
      Internet and Network
      Update
      Installation
      AVG Free
      AVG 2012 Free Edition
      AVG E-mail Protection
      AVG Network Protection
      AVG Update
      AVG Installation/Uninstallation
      AVG 2011 Free Edition
      AVG E-mail Protection
      AVG Network Protection
      AVG Update
      AVG Installation/Uninstallation
      AVG 9/8.5 Free Editions
      AVG Standalone LinkScanner Free Edition
      AVG for Linux
      AVG Home
      AVG 2012
      AVG E-mail Protection
      AVG Network Protection
      AVG Update
      AVG Installation/Uninstallation
      AVG 2011
      AVG E-mail Protection
      AVG Network Protection
      AVG Update
      AVG Installation/Uninstallation
      AVG 9/8.5
      PC Tuneup
      Family Safety
      AVG SMB
      AVG Client
      AVG Admin
      AVG for servers
      AVG for Linux
      Other AVG products
      LiveKive
      AVG Mobilation
      MultiMi
      AVG RescueCD
      Other topics
      Virus Removal, Tools for Removing
      Registration and License issues
      How-Tos
      Archive
      Archive
      Ideas and Suggestions
      AVG LinkScanner for Mac
      AVG Standalone LinkScanner 8.5 Free Edition
      AVG Standalone LinkScanner 9.0 Free Edition
      AVG Standalone LinkScanner 2011 Free Edition
      AVG 8.5 Free Edition
      AVG E-mail Protection
      AVG Network Protection
      AVG Update
      AVG Installation/Uninstallation
      AVG 9.0 Free Edition
      AVG E-mail Protection
      AVG Network Protection
      AVG Update
      AVG Installation/Uninstallation
      [OBSOLETE] Sales Information
      [OBSOLETE] Information and Alerts
      AVG 8.0 Free Edition
      AVG Update
      AVG Installation/Uninstallation
      AVG 7.5 Free Edition
      AVG Update
      AVG Installation/Uninstallation
      Previous thread |
      Up to parent
      | Next thread
      Free Antivirus |
      Internet Security |
      Business Security |
      PC Tuneup |
      Free Online Backup
      Antivirus for Android |
      Site Safety Reports |
      Forum Index |
      Privacy Policy |
      About Us
      В© 2012 AVG Technologies. All rights reserved.
      $(document).ready(function()
      tryTypekit .load(); catch(e)
      );

      http://id.lenta.ru/profile/108850/

    • Whether or not they are credit cards or loans, try and pay them as often as you can, raethr than amassing it. To make your retirement a calm one, you are going to need to use caution about any taxes that need to be paid or whether your house is completely yours or not.

    • *******

      It’s a Little off Topic but Anyone Looking for a Job Should Check Out this Website!

      They are Hiring People to Work from Home for $67/hour

      http://www.MakeCash123.com

      This Job Program has saved Our Whole Family from the Recession!

      And I Can Work from Home with my Kids !

      ********

    • Such a small think. ;-) But such a great idea

About Ask SmartMoney

  • Ask SmartMoney has a single, simple mission: Answer your questions. Answers are written by the staff of SmartMoney.com and SmartMoney magazine, with the help of outside experts. Topics cover investing, spending, retirement planning, saving for college, insurance, taxes and more. Submit your question in the form below, or email ask@smartmoney.com.

.