clear it off. you are giving away money by paying this loan
I would disagree if job looking unsecure. Normally of course you would pay off loan, but there are no guarantees that money will be accessible if you do pay it off, as you would be unlikely to get credit without a job.
Keep a safety net for now.
This all depends on the amount outstanding on the loan which you don't mention is it 3k/13k or 23k.It would also be a help to know will you have big obligations like mortgage etc if you lose your job? It will make a difference in what I would do personally.
Will you be entitled to redundancy if you lose your job? You could factor this in. Also is it possible for you to start looking for another job now or even part time work so you will have some work if you lose your job.
Why not sell the car, buy a banger, and boost your savings.
Having a 23k car while facing redundancy seems a little excessive.
Use this to get your financial house in order now in case of the worst.
If the worst does not happen, you'll at least having savings that you can use more effectively.
not to put a dampner on it but if you're only in the job 18 months you're not entitled to statutory "redundo" as you call it so what makes you think you'll get 6-7 weeks off them?! will you have 2 years done by the time you think it'll come to "redundo" being offered?
Are those rules not only for statutory redundancy? Any company can pay what they want/can?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?