<prompt> Human: Hi all, first time hear and Ive been word searching some advice on this subreddit but wanted to ask some of you guys too. Ill try to keep it short.My 05 civic is in need of repairs and I was recently car shopping, my previous post asks the car guys some questions. I figure it is time to buy a new car. In my impulsive decision I took out a 19,500 loan on my 401k last Friday. I still havent received the check in my inter office, thats how fast this is all playing out for me right now. I am second guessing my need to buy a new car and I think I can maybe put another 3k into the car so it will last me another 10 years... But I am not sure yet. Its only maybe worth 4k total.Lets say I decide not to buy a new car. What should I do with all this money? Should I put it all back or use it to pay off another loan? Here are my financials below. Feel free to be as professional or coarse as you need to be to get your advise or point across because I appreciate the time it is taking you to read all of this.I make about 69k a year or about 39 an hour. I am paid hourly and work on average 40 hours a week.I was putting about 10 of my paycheck into my 401k and my take home after taxes was about 1,400 bi-weekly. I have since stopped contributing to my 401k after the loan.My 401K balance is 39,377.41I have about 5,780 in savingsI have a loan with Lending Club. The Term is 16,800 for 36 months. The Rate is 19.52 23.29 APR. My monthly Payments are 620.25 a monthand my Remaining balance is 19,227.64 My 401k loan is, Term 19,500 for 30 months, Rate 5.25, and Payments 320.74 bi-weeklyDiscover Card credit card Balance 2,465.07, Rate 16.94 APREdit: sorry for the terrible formatting from my phone---Edit2: My Conclusion.. but I am always open for discussion and lectures. Thank you everyone for your honest input. I am going to take my car to the mechanic Wed morning and leave it with him for the day. He is going to give me a point by point run down of what the car needs. If he gives me a decent price and says I can run it for at least another 4 years I will be very happy. I trust him, he is good people. I am going to take that 401K loan check when I receive it and use it to pay off the remaining balance of my debt. I will postpone contributions for now or maybe keep it at 4 because that is what my company matches for I think and make extra payments towards my loan so I can pay it off under the 30 months.Assistant: The Term is 16,800 for 36 months. ... my Remaining balance is 19,227.64The only way that your remaining balance is that much higher than the original loan is that youve missed several payments. You very obviously have a problem with budgeting and taking on too much debt that you cant afford. You desperately need to budget and track everything and fix that before you think of buying a new car. You have enough in savings to cover the repairs on your Civic, so do that. Your two existing loans are costing you nearly 350 per month in interest alone. That is killing your budget. As long as you are happy with your job and think you will keep it while you pay back the 401k loan, Id keep the loan and pay off the lending club loan with the money. Any left over from that should go toward the discover card. This accomplishes a couple of things for you: it greatly lowers the interest you are paying, and it makes your payments come out of your check before you get it. This will help you make payments since you seem to have a problem with that. Any extra money you have should go toward paying off the discover card to get out from your high interest debt.The major downsides to carrying the 401k loan are these: if you leave your job, it is possible that it is due in full. If you cant pay, it will count as a distribution and youll owe taxes plus a 10 penalty on the remaining balance. So you could owe the IRS a good chunk of money if you quit or are fired. Also, taking the loan negatively affects the growth of your retirement funds. However, since youre paying about 20 in interest on other loans, I think the money you save there can make up for it as long as you are smart with your savings by investing more back into your 401k. I would not stop your normal contributions especially if theres a match unless you cant make your budget work any other way.Human: Thanks. I havent missed any payments on the lending club loan below is a more detailed breakdown based on the information in their website. I believe the 19k is after interest.I agree that about the negative affects of losing my job. I plan on contributing to my 401k once I have payed off a significant chunk of my debt.. My reasoning is I could use a little take home money in the next year or soLending ClubStatus: CurrentTerms: 16,800 36-monthInterest Rate: 19.52 23.9 APROriginal Requested Amount: 16,800Principal Balance: 15,007.78Principal paid to date: 1,792.22Next payment: 620.25Sum of remaining payments: 19,227.65Pay-off amount: 15,251.92Amount paid to date: 3,101.25 13.89Payments on time.  <response>: Yeah, so your remaining balance is actually 15007. Thats a lot better. The 19k number is just if you pay it out over the remaining term, but you should be able to pay it off early for a little over the principal balance just whatever unpaid interest is there. Its good that youre making payments, so keep up the good work on that.My advice doesnt change much, though. Since the balance is less, you could actually pay off both the lending club and the discover card with the 401k loan. Then all of your debt is at a much lower interest rate. After doing that, Id building back up the emergency fund and making extra payments on the 401k loan. Also, you should probably keep up some normal 401k contributions since you seem to be able to do that with your current payments and the total monthly payment amount wont really change much. That way you still get any match and dont get off track in saving for retirement. 