Should I Pay Off My Car Loan Early Credit Score
Olivia Luz
On time bill payments can play a big role in determining your credit scores.
In some cases paying off your car loan early can negatively affect your credit score. In a nutshell the fico credit scoring formula the most commonly used scoring method by lenders. The best scores go to people who have installment loans such as mortgages or car loans as well as credit cards known as revolving accounts. Generally speaking when you pay off a car loan or lease your credit score will take a mild hit.
Source : pinterest.com
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