I just bought a new car (The X1) and borrowed partly from 401k and the balance from my bank. Interest was 4.02%, which is the highest I think I've ever seen for an auto loan. RIP
Paying off a large asset is typically foolish financial advice, though, given the market these days, who knows? I've never paid off anything before I absolutely had to due to the terms of the loan. I'd much rather make 10-15% on my money in the market or other investments than give it to the...
It's getting scrapped. Just do it now. You can't pay people to take these fucking things away. Even the homeless drunk that "stole" mine only got halfway down the alley with it.