Should I put my $2000 bonus on the principal of my car loan, on student...

bellasfasciato

New member
Jul 21, 2008
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...loans, or save it? Hi folks,

I have a really expensive car payment thanks to losing money on a vehicle that died and had low trade-in value after my divorce. I'd love to pay it off ASAP, and my boss just gave me a $2,000.00 bonus for hard work. :)

Thing is, I'm not sure if it's smarter to:

a. Pay the money on the principal of the loan,
b. Pay $2,000.00 on my student loans (at 1% lower interest, it doesn't seem like the best idea, but just asking...)
c. Put the money in savings, a CD, or something else where it is somewhat easily accessible (after all, I am a new college graduate with almost no money).

Suggestions appreciated!
 
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