I'm not comprehending why you would want another 24k loan (at what percent interest?) on a vehicle. It is important to look at the derivative of that vehicle cost (any vehicle for that matter) to determine if it is even worth it to be begin with, and when is the right time to get out (valuation vs depreciation). What interest rate are they giving you, if you don't mind answering, or are you going through a credit union or other finance for it. I mean if you can get a no interest loan, I get buying from a dealership, but it depends on depreciation rate of the vehicle. If it is a vehicle you just have to have regardless, there is nothing wrong with making yourself happy as long as it won't make you miserable.
If you are contributing at a minimum of 15% of your own pay (not employer contribution- thats separate) toward retirement and don't have any other debts, then you have the financial space and ability where it doesn't matter anyway, but my key is 1) never buy something I can't pay cash for and 2) live debt free.
At the end of the day, the folx tellin you to sell it privately have the right answer, especially since your loan is now less than blue book, so you can pay off the loan and take 2k to put on the new one.
If you are contributing at a minimum of 15% of your own pay (not employer contribution- thats separate) toward retirement and don't have any other debts, then you have the financial space and ability where it doesn't matter anyway, but my key is 1) never buy something I can't pay cash for and 2) live debt free.
At the end of the day, the folx tellin you to sell it privately have the right answer, especially since your loan is now less than blue book, so you can pay off the loan and take 2k to put on the new one.
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S.SAVAGE and S.SAVAGE
