That interest rate is nice and low and not nearly as bad as 20 years ago. I remember being happy to assume a 7.5% mortgage on my first house when the going rate was 12! Google "amortization schedule" and plug in your numbers to see what your actual interest expenses are. That will help you decide. If you pay part of it down and interests rates climb in 5 years to 10% or higher, you will be happy to be paying that rate. I recently cashed out my car (title loan) at the credit union because I was a little short on $$$ to keep the in-laws out of foreclosure. I could have scraped up the money, but a $12,000 loan for three years cost me only $600 in interest....about a days work for me when I'm out brushhogging.....it's all relevant.
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Today's Featured Article - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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