<prompt> Human: As the title states, I have received word that a family member of mine has just inherited some extra money and is willing to loan me enough to completely pay off my car with little to no interest. I currently owe around 7k on my car and was on track to pay it off by January of next year. I dont really have any other debt aside from the car and its insurance. The minimum payment on the car is 300 but Ive been throwing 3 times that amount every two weeks in order to pay it off ASAP. Although this strategy has allotted plenty of breathing room next payment isnt due until May 2019, it doesnt really leave me with any cash to save. Im not necessarily hurting for money either but I certainly am living check by check with an average of 200-300 in the bank at any given time. Now that I have the opportunity to pay it off sooner than expected, Im looking for the best way to go about it. My question is: would paying off the car completely affect my credit reportscore differently than paying month-to-month? Which would one would look better overall? Also, would I have to report this type of personal loan? Would paying off the car at once raise any red flags of any nature or look suspicious? Any adviseinformation would be greatly appreciated. Thank you.  <response>: If I had to chose between owing a bank money or owing a family member money, Id choose the bank. 