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Uoip3466

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Pay off car loan with a balloon payment at end of term early or pay down credit card debt
I have one year left on a car loan that ends with a $1200 payment. I owe $3500. I have been approved for a $5000 personal loan. I have 15 credit cards with high utilization, and my student loans.My thought was to take out the $5000 installment loan and get my utilization down to sub 30% . Now I'm wondering if I should pay off this high interest car loan and use the rest to pay off the higher balance cards.

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I think you should pay the car loan, because your vehicle can be repossessed if you don't. Then pay down the higher INTEREST credit card balance rather than the higher balance.  You also have too many credit dards. You need to pare those down.

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