Pay-off Car Loan vs. Invest?

[bryanth]

Looking for input on this situation with the new year upon us.

Last year, I maxed out my 401k & Roth and saved an additional $15k.

I have $15k left on my car loan for 5 more years at 3%.

Would you pay off the car loan, or invest the 15k and pay off the car loan over the next 5 years?

[SmallTownDA]

I think the general consensus is that if debt is less than 4%, pay the minimum and invest the difference.

[thedayisbrave]

Math says invest, but it's not an all-or-nothing question.  You could split the difference, and put half of any extra money toward paying down the loan, and half toward investing.  Obviously this would be more for peace of mind of having the loan off your back, but since I tend toward being a little more debt-averse, that's what I would do.  YMMV.

[JLee]

Refinance it with Penfed at 1.99% for 3 years and pay it off normally?