Should You Use Your Coronavirus Stimulus Check On Your Car Loan?
The answer here is a definite maybe. Given all the steps that automakers have taken to ease the financial burden of car loans, you should probably target your basic necessities first, including food, housing, utility and insurance bills. Are you paying interest on any credit cards? These rates tend to be particularly burdensome, so do yourself a favor and pay down that outstanding balance. Do you have an emergency fund for unexpected expenses? Consider adding your federal stimulus check to that fund if you don’t immediately need the cash.