A recent episode of “The Ramsey Show” featured Doug from Connecticut, who called in to ask a question that many listeners might relate to: Should he use his savings to pay off a 0% interest car loan?
Doug shared that he’s single, 45 years old, and earns between $140,000 and $160,000 a year. He has $280,000 in retirement savings, $23,000 in a high-yield emergency fund earning 4% interest, no credit card debt, and a mortgage. But there’s one catch: he still owes $26,000 on a car loan.
