marshmallow
Registered User
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Have approx 17k and 3 yrs left on 5 yr car finance with GE money at a 7% rate of interest. I am thinking of paying off the loan now but from my calculations it looks as though I won't save any money by doing so. Are car finance agreements set up to charge full interest irrespective of an early payment date?
Assumed it would be similar to paying a mortgage early where you actually save money as well as reducing the debt?
Assumed it would be similar to paying a mortgage early where you actually save money as well as reducing the debt?