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Posted in Auto Loans
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25% of auto loan paid in the first installment to pay off early, but want to build score
I have a good credit score and I use only one credit card. I recently got an auto loan (6 years) and paid 25% of the principal in the first installment thinking to pay off early to avoid paying interest, but now I found that monthly payment is what that really boosts the credit score. I want to boost my credit score as I plan to buy a house later. Now I am in dilemma whether I should wait until the next amount is due and make monthly payments for rest of the principal or pay off early as I have already started. I would greatly appreciate some advice.

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