Part of our debt is two car payments equaling a total of about $8000. For both payments, we have 0% financing for about another year. Would we be better off paying off the cars because they are debt or saving/investing that money?
Terry Says: That depends on the rest of your budget. It’s hard to make a recommendation out of the blue. And I would suggest you get specific, professional advice which is available from the NFCC — National Foundation for Credit Counseling. You can reach the nearest local office by calling 800-388-2227. It is non-profit, trusted, free –and you can do it over the phone!