But, you might be able to save on the interests charged for the loan if you pay it off earlier than the stipulated time period.

I am continuing with an auto loan. Haven't missed a payment on it. However, my score is a little bit more than average, due to other past financial transactions. Would it help to improve my score if I pay more and get rid of this auto loan? Presently, I have no more credit to pay for.

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I agree. But, you might be able to save on the interests charged for the loan if you pay it off earlier than the stipulated time period. And of course, there is that additional relief. By all means, if you have the resources, I would ask you to do it.

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Timely payments definitely helps in improving your score. But it's a gradual process. I don't think paying it off earlier is going to undo your past financial mistakes or bring about any significant change in the score.


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