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Posted in Auto Loans
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Addi8706

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Should I pay off my car loan off early?
please bare with me I know this long but.... I am 25 and just starting on my credit. I literally had NO credit at all before I bought my first car. I have had my car loan a little over a year and now have a credit score of 682. I want to get it as far as possible. My stepmom says I should pay it off this year with tax refund ( 2 years early mind you) and that will boost my credit score WAY up. But my gut tells to wait another year and than pay it off. I have never been late on a payment. And pride myself in making sure it never happens. But as I said this is my first loan ( ever ! ) and I have no credit cards. What should I do? Does it really boost your credit that much?

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