$70k cash in the bank. Owe $44k on a car. Bring home about $200k a year combined with the wife.

Live in .mil housing currently due to cost of living at current location will be on orders to Texas (probably) next year around summer.

Did really good in the stock market after the COVID crash.

Zero debt other than said car. Both have TSPs, 401k, and a health retirement nest egg.

If we get Texas next will want to buy a house.

My job will transfer to Texas.

Only holding onto two large stocks at the moment have sells limits set on those will probably hit that by February, Zero interest in getting back into the stock market in the near term, unless there’s a crash.

I had a plan of things we wanted to do in the next 5years but with everything that has gone on since November my outlook isn’t as bright as it was.

The question I wanted to ask:

Planned on paying off the car after income taxes were done. But now I don’t know if we should part with the cash given we don’t know what the future holds. Car will be shipped by the government when we move, we will pay about $5k to have the paid off car shipped or might sell it before we leave.

Should we pay off the car? Should we hold on to the cash?

The way car loans are structured, pre-payment doesn’t save anything IIRC.

From Investopedia:  

Pay off the car. If you make 200k and housing is supplied for the next year and a half. It wouldn’t take you long to save up that 44k again

What's the rate on the car? 3%? Don't pay it off.
8%? Pay it off.

This is where the wife is at. She hates debt, hates it!  I was totally on board with paying it off. Now I’m a little hesitant to let the cash go.

Under 3%

Why are you hesitant?  What do you think is going to happen that $44k in cash will fix?  Pay off the car.  If you hate not having a car loan, you can always go get another one.

Don't pay it off. Use the cash to make yourself more money. If you don't like the stock market, land is a good long term investment.

To be honest I don’t know.  Last couple of years I knew where the markets were going and people generally had a good outlook on the economy.  I don’t have that confidence anymore.

I’m probably tripping over nothing maybe it’ll calm down in a few months.

That's the problem, if he doesn't pay it off, he's just going to be sitting on the cash. So he might as well pay it off. Gaining 0.01% interest in a checking account is not better than paying 3% on a loan.

Interest rate at 3% is pretty low.  I'd be tempted to keep the loan and have the $44k available for moving expenses not covered by .mil, or for a larger down payment on a house.  The market is so crazy right now that if you can swing a 20% down payment and conventional financing, many sellers will prioritize your contract over FHA & VA loans because of the inspections involved with the latter two.

Sell the car, eject and move to Tibet...or not. Other than that I have nothing. You wanted advice from GD.

If someone was charging me $5k to ship a car I would probably sell it unless emotionally attached to it.

I appreciate you Terry

That figure is a guess. A local company quoted me like $1500 to get it to Cali then I guessed $2500 to get it to San Antonio then rounded up. Everything seems to cost $5k these day when it comes to moving shit. Home Depot wanted $8500 to no dig vinyl fence 160’ of my backyard.

Car that will be shipped on our dime is paid off, 4yrs old and low mileage I’d like to keep it