Ok - here are the numbers:
Auto: Outstanding principal balance $13,650.90
Interest Rate 4.29%
Maturity date 08/05/2016
(And before you suggest it, I am not going to sell the car to pay off the loan and buy something cheaper. I love this car - a 2012 Elantra - and you will have to pry the steering wheel from my cold dead fingers. And FYI, I've had it for 18 months and it has 5700 miles on it so I at least have that much going right...)
Mortgage:
Original loan amount $217,326.00
Interest rate 4.75%
Maturity date 03/41
Outstanding principal balance $209,853.64
monthly PMI of $146.42
Now, the interest rate on the car loan is lower than my mortgage, but the interest on the mortgage is tax-deductable where the car loan is not. Also, that PMI is also a real pain in the caboose.
Which do you think I should hit first?