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bcrawfo2

Pay auto loan early?

bcrawfo2
17 years ago

Trying to improve credit (and needed loan to get a little nicer car). Loan term is 3 years, bad interest rate...just under a year into the loan, want to think about paying it off. If I pay off early will the loan stay on credit report for the full term as opened (and providing good payment benefit) or does it close (stop reporting) when I pay it off?

Trying to weigh the benefit vs cost of interest.

Thanks

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