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Roger
Should I take out a 401k loan to pay off my car?
Have a little over $6,900 left on my car loan, paying $225/month at around 6% interest with a little over three years to pay it off. I can take out a $6900 401k loan at 3.25% and pay $125/month, for a 60 month term. My monthly debt would be reduced by $100. Money is tight and an extra $100/month would go a long way. I'm 29 and have at least 30 years before retirement. Any thoughts?
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The odyssey is 13,995, the sedona is 13,050...
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