Title: How to Pay Off Your Car Loan Early
Headings: How to Pay Off Your Car Loan Early
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How to Pay Off Your Car Loan Early
Benefits of Paying Off a Car Loan Early
Ways to Expedite Paying Off a Car Loan
1. Round Up Your Payment
2. Make Biweekly Payments
3. Make One Extra Payment a Year
4. Avoid the Skip Payment Option
Final Word

Content: Not only does this improve my monthly cash flow, but it improves my credit score as well. Benefits of Paying Off a Car Loan Early
The bottom line is that paying off a car loan early will save you money in interest payments. Imagine what you can do with the extra money: beef up your savings account, make home improvements, save for retirement, or perhaps pay off other debts. Taking out a car loan can also impact your credit, as credit scores factor in your level of debt. I had a credit score of 810 when I was approved for financing, and after two months of on-time payments, I checked my credit score and discovered that it had dropped 15 points. I hadn’t missed any payments, nor had I accumulated credit card debt – the drop was entirely due to the new loan I’d taken on. I realize that a 15-point drop isn’t too bad if your score falls within the 700 to 800 or higher range. However, if your score is within the 600 range, 15 points can be the difference between a loan approval and a denial. Though your credit score will drop after receiving a new auto loan, the sooner you pay it back, the quicker you can recoup those points.