Car payment is $441, I have approx $18547 left on the loan at a 4.94% interest rate (car is currently worth $16450). Motorcycle payment is $454 a month, at a fucking 15.63% interest rate and $21721 left on that loan (this motorcycle has already put me though hell, that is a whole other story). I am struggling to find an institution that will re-fi motorcycles. I did SunBit for some repairs on my car, that is $254 a month, with $1017.80 left on the loan (not sure what the interest rate is on this). Then, the kicker, is my discover card ballance is at $7435.16 (currently at a 0% interest rate, but after 7/10/24 it will jump to %26.24).
Am I right in my decision to focus on the credit card since it is currently at 0% but will jump up in the very near future? What is the order? How do I do fix my situation? Lesson learned. I work full time, make roughly $5000 a month after taxes. I am staying with my family so I am blessed to not have to worry about rent, utilities, and food (for the most part). I used credit karma to get all these numbers.
original posted by Illustrious_Elk4333 to r/personalfinance on Fri, 12 Apr 2024 15:39:32 GMT.