Wednesday, May 26, 2010

Should I take the payoff on my car loan?

Ive been paying on my car for the past 18 months and have raised my credit score about 200 points since. But now my credit score has leveled off. Should I just pay off the remaining 9,500 or should I keep paying a little longer? Which will build my credit more?



Should I take the payoff on my car loan?

If you have the funds to pay off the car go for it and get rid of the payment.



You now have good credit and no more car payment.



Should I take the payoff on my car loan?

Since you paid 12 months on the car, you increased your credit history. I would still make payments until it's half paid for. By then, if you have a simple interest loan, you paid 70% of the interest. Then you can decide if you want to make double payments, or just pay it off.



Should I take the payoff on my car loan?

If you have the funds pay the loan off. This will look good on your credit file especially for that amount. It indicated to a lender that you are responsible with debt. This account will still be able to be seen by future lenders for 6 years. Anyone doing a credit search on you in the future will be able to see your payment history for the 18 months, the account was open and that you then satisfied the account.



Should I take the payoff on my car loan?

Before you do the obvious, listen to this man for free, on the radio or online, daily, and you will make decisions that wealthy people make. This is like getting financial wisdom from Bill Gates, except this guy has a radio show.



I will say that just this single audio clip changed my life when I heard it.



Half way down click %26quot;Listen to Dave%26quot;. JUST listen.



http://www.daveramsey.com/tdrs/index.cfm...



Should I take the payoff on my car loan?

Maybe You should try to google it first ,however if you like some direct resource ,here might be helpful.http://carloan.featured-resources.info/c...

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