Just to add another option in, the bank (KBC) is willing to let me hold onto the 170k that's still on the tracker +1.25%, offer me a 'new business rate of 2.1% on anything extra (instead of 4.5%)
The kids are 9 and 12, you will need to extend sooner than you think. You need cash.
The car loan is 18k, what car to you drive? Can you downsize and realise 10/12k? Then with 5k savings and 2.5k from stopping the AVC you could clear the car loan.
That was my suspicion as well, but don't forget
1) She had a big bill for her divorce
2) She is paying big lumps of capital off her home loan
3) She is paying even bigger lumps of capital off her investment mortgage
So she is running up expensive debt in the Credit Union to clear cheap debt, her mortgage.
Yes I sold the previous family car after divorce last year and bought a cheap car, paid off debt to family who had helped me buy house. I will have my old 5k car paid off by September.
Yes I sold the previous family car after divorce last year and bought a cheap car, paid off debt to family who had helped me buy house. I will have my old 5k car paid off by September.
Because a family.member who leant me money for the deposit on my house needed the money back- I sold the car and paid them back, so the car loan is still outstanding. However, it's at a lower rate than if I'd borrowed money to pay family member back.
Because a family.member who leant me money for the deposit on my house needed the money back- I sold the car and paid them back, so the car loan is still outstanding. However, it's at a lower rate than if I'd borrowed money to pay family member back.