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Posted in Auto Loans
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spoonmon

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0% on my auto I'M NOT PAYING ANY INTERESTIT ON LOAN

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That is not always true.  It can be a good deal, as manufactures will offer this financing in order to get rid of stock. The dealership still gets their commision for the sale of the car, and if you research and know what the going price for the car is and negotiate that then it can be good. That is like saying that if I buy a TV from Bestbuy with cash, or I use the 24 months free financing (paying the same amount) that I need to pay it off as fast as I can.  If your utilization is bad then this is true to help your score, but if you are good there, then putting the money in your retirement fund and making monthly payments nets you money therefore less cost.

Once the loan is allready taken there is no reason why a person should pay it off before hand.  Why pay money on something when you could put that money to use for you and earn money?

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with a 0% interest loan seems good, but I'm sure the price of the car was high enough were they made the money on the front end of the deal.   

it might seem good, but you are paying it somewhere. 

Would say Pay it off as fast as you can. 

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