Pay off car or put more down on mortgage

[scoutdjackson]

Psychologically I'd say it'd be best to pay of the car first. It's value depreciates every year while the house appreciates. The longer you take to pay off the car the longer you're paying for something that is worth less. I'm not sure how sound that advice is financially, but it's what came to my mind.

[wnlbutterfly]

When we bought, the lender was thrilled that the cars were paid off and even though they weren't the newest (one being 1989 van), he was able to list them as assets instead of listing a car loan as more debt load. The less outstanding debt the better.