Is it worth it to pay off car or invest?

[Are_aye (Rose)]

Should I stop contributing to my ROTH 403b and use that amount to pay off my car ($7500 left) w/ 0% interest? I’m still contributing to my 403b pre-tax. Thank you!

[Jeremy (Jeremy Schneider)]

I’m sure I’ll go against many popular opinions, but I think you should invest in your 403b up to any match, then go HAM on that car loan until it’s zero. When you have no car payment, make a decision to never borrow money for a car again, and ramp up that 403b. I think that is what will make you the most wealthy. Here’s a similar question with a more detailed breakdown on the reasoning:

Prioritize paying car loan before investing?

Hey all, first post here. Curious to know your thoughts on paying off your car loan versus making your monthly payment and investing the rest aggressively. I’ve been in the train of thought that if your interest rate is low enough (mine is 3.9%), you’re better off investing because you should be able to beat 3.9% in annual returns, and the annual interest paid is fairly low compared to the potential gains you could make in the market. Thoughts?

And here’s a couple instagram posts about car loans:

@personalfinanceclub

@personalfinanceclub

@personalfinanceclub