@lucifah,
If ur not going to be saving much interest, Y not continue the instalments? Would it not be better to haf greater cash flow? However, if U are the type [like me!] who doesn't like owing people/bankers $ and U haf the $ then by all means go ahead.

@hirota,
U prob can check with the bank if they can give u some discount if U pay off early since U still haf at least another 7.5 years to go. If they aren't gonna give u more discounts, U should consider putting the $ into some investments?

@ttwangsa,
If U intend to put the $ into FD, U should just pay off the car cause ur probably not going to earn much from that RM35k.

I think TS should also ask if he's got savings put aside for emergency purposes? It would be good if he can keep aside at least 6 months of expenses.

This post has been edited by tinkerbel: Jun 19 2008, 09:21 AM

U could also use the $ to purchase a home?

@hirota,
U won't get more than RMX loans from the bank so U shouldn't worry about the cash flow issue. However, if U are intending to borrow more $ from the bank to finance the house, they may take into consideration the RM35k loan U haf and minus that out hence for U to get that approved, U might haf to clear the existing RM35k loan.

Er.. do i make any sense?!

@keonglck79,
Calculation of car loan is different from house loan hence that calculation of urs isn't quite accurate.

@SKY 1809,
Yeah.. they probably make U pay for early settlement *grins*

@SKY 1809,
Well.. no point to deliberate this here. Might as well get TS to call up the bank to get the actual figure.

@keonglck79,
Did the bank charge U a penalty fee or some form of administrative fee?

@keonglck79,
Now that sure is odd but ah well.. *shrugs*

@samquah,
U did pay a certain penalty I'm sure. Anyhow, at the v least U got RM8k discount.. U could look at it that way I suppose