Can I pay off a car loan early, or do I have to make monthly payments for the next 5 years?

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5 weeks ago

Madison, John

Ashland, VA
67% of people found this answer helpful

Every time of automobile loan that I'm aware of allows for prepayments. Review your loan documents and it should be clearly stated.

Retiring debt early is a great way to free up cash flow and build wealth! If you can pay extra each month toward your outstanding balance, I hope you'll take advantage of it.

Best of luck!

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