I currently have an auto loan with a credit union and have 36 months left in the loan. The pay off amount is $8000.00 and I have the money to pay it off now. This however would only leave me with $2000.00 left in the bank. My wife and I want to buy a house around December and our credit scores are both in the mid 7's range with all 3 CB's. By december we are able to save aprox. $20,000. The auto payment per nonth is $260.00. Does it make sense to pay it off? BTW we have 2 credit cards with 0 balance and 2 school loans totaling $20,000.00.
Thanks for any advice given.