Quote:
Originally Posted by Rmtt
Oddly enough though....I took a small hit when paying off my daughter's car loan as it list the account being closed.
I figured an auto loan would be treated differently.
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Depending on interest rate, it's usually beneficial to let a auto loan either run its course or not pay it off any faster than half the time originally requested. Its odd but thats how its viewed for some reason.
Of course if interest rate sucks, then yeah, just pay it off asap, no reason to worry about credit if its costing you money.
After about 6 months, the score should recover from paying it off early or improve.