Here's my scenario:
I have an auto loan, 31 payments remaining at $200/month (total of $6200 owed over next 2.5 years)
Alternatively, I have enough free cash (about 13k) to pay that off - the balance on the loan is $5800. The rate is 6.99%
I would save $400 total (about $11/mo) by paying off now
I'm wondering if saving that $400 is worth it, in terms of reduced flexibility by not having that cash in reserve. Thoughts?