I had to purchase a new car (car accident and wrote mine off) I decided to buy a new car bc of the travelling I do. I was planning on buying a new vehicle once I saved enough to purchase it, so I did already start saving.
Purchase price was approx $40gs
AFTER the little bit of savings I had to buy a new car and the insurance money I now owe $17,000 on a line of credit at 3.35%
I try and put $1,500-$2,000/month of the loan.
Now I purchased RBC shares awhile back(2 years ago?) and currently have approx $12gs total, set up on a drip plan. This is also in my TFSA account
I HATE having debt especially when it has to do with a vehicle, so I was wondering if it would be smart to sell those shares to help pay down this loan faster, or will I bet better off to just keep paying the loan the way I am and just wait till the end of the year till it is payed off.
Thanks
Purchase price was approx $40gs
AFTER the little bit of savings I had to buy a new car and the insurance money I now owe $17,000 on a line of credit at 3.35%
I try and put $1,500-$2,000/month of the loan.
Now I purchased RBC shares awhile back(2 years ago?) and currently have approx $12gs total, set up on a drip plan. This is also in my TFSA account
I HATE having debt especially when it has to do with a vehicle, so I was wondering if it would be smart to sell those shares to help pay down this loan faster, or will I bet better off to just keep paying the loan the way I am and just wait till the end of the year till it is payed off.
Thanks