What to pay off first?

[myself]

Originally Posted by disneysteve

Wow. The credit card companies must love you.

No way would I pay off a 3.9% loan before a 12% loan. That just doesn't make any sense financially. Yes, I understand Dave Ramsey's snowball, but OP said the motivation isn't a factor. From a strictly dollars and cents standpoint, the biggest savings will come from paying highest rate to lowest rate.

In fact, I wouldn't even make any extra payments on the 3.9% loan. Just pay the minimum until it is repaid. Why? Because you can invest your money very conservatively and earn more than that loan is costing you.

What you say is true Steve. However, what if the credit card company decides to up the 19% to say 27% when May hits?
The car note is fixed at 12%, it cannot go up. And May is not that far away.

Based on the latest events, I'd say payoff the Chase as fast as you can, and then work on the Discover (or transfer it to another low rate offer). Then work on the car loan and an EF at the same time (take the money that was for Discover AND Chase, and put that towards an EF).

[disneysteve]

Originally Posted by myself

What you say is true Steve. However, what if the credit card company decides to up the 19% to say 27% when May hits?
The car note is fixed at 12%, it cannot go up. And May is not that far away.

I think the Discover rate is good until June. If it spikes up higher than the car loan after that, then I'd change my recommended order. It is always best to pay the highest rate first.