Reply To: Car Loan

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#162103
Preston
Participant

Thank you Stacy. Even with my lack of financial skills,(which is why I am so devoted to reading MTN and sharing it with family and friends) it didn’t make sense to wait more than a year to pay it off all @ once in lieu of making larger payments now. My only other concern was that my FICO score, since my house is paid for and I only have credit card credit, doesn’t show that I have enough diversity in types of credit, which is a minus. I wondered if maintaining a car loan for a short while would help or hurt my score. But it seems paying larger payments, more often, is the best route. That’s what I’ll do. -pr