Trying to pay my new car off in less than a year?

S

schuyler

New member
I'm currently a contractor in Iraq and in the year I've been here, I've paid off everything I've owed on-- except the new car I purchased last month. I've heard making 2 payments a month will split the interest + principal. Is this correct and what is the best way to pay off a car ASAP
 
C

cuddlyclaud

New member
Check with the finance company about how to make an early settlement, they may not be to keen on making a deal as they make their profit on your repayments.
However paying off the loan early will save you money and won't hurt your credit rating.
Good luck!.
 
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