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kristenm488

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would it be better to refinance my car or pay off one of my school loans
I have an auto loan for about %15,000 I think about 10%APR. I also have one student loan that is just under $5,000, and a new student loan at about $9,000 and still rising. My question is should I refinance my car or pay off the first student loan?

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Do the math...whatever will reduce your debt the most.  If paying off a higher interest rate loan saves you more than a refi, by all means save some cash.  If you're trying to build credit scores, then more on time payments will build credit faster (meaning it might not be in your score's best interest to pay off a  loan compeltely).  So it depends on your goal- your pocket book or building your score.

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