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  2. 5 Strategies for Paying Off Car Loan Early - AOL

    www.aol.com/5-strategies-paying-off-car...

    (The typical car loan is anywhere from three to seven years; the shorter the loan period, the higher the monthly payment.) In this scenario, the total cost of the vehicle after tax and dealer fees ...

  3. Should you pay off your car loan early? - AOL

    www.aol.com/finance/pay-off-car-loan-early...

    Paying off a car loan early can save you money — provided the lender doesn’t assess too large a prepayment penalty and you don’t have other high-interest debt. Even a few extra payments can ...

  4. How to calculate loan payments and costs - AOL

    www.aol.com/finance/calculate-loan-payments...

    Starting loan balance. Monthly payment. Paid toward principal. Paid toward interest. New loan balance. Month 1. $20,000. $387. $287. $100. $19,713. Month 2. $19,713. $387

  5. Discover the Pros and Cons of Paying Off Your Car Early - AOL

    www.aol.com/discover-pros-cons-paying-off...

    How to Pay off a Car Loan Early. ... say, a $700 monthly auto loan payment, your DTI would drop to 34%. Just like that, you've gone from a fairly lousy DTI to a good DTI. ... The penalty amount ...

  6. Financing cost - Wikipedia

    en.wikipedia.org/wiki/Financing_cost

    Some car loans have the option to be paid off faster without penalties, while others specify that they must be paid within a set number of years. [4] One has the option to either extend the loan term for a lower monthly payment, or a shorter term with higher monthly payments. A lower monthly payment with a longer term may involve paying more ...

  7. Prepayment of loan - Wikipedia

    en.wikipedia.org/wiki/Prepayment_of_loan

    As another way to compensate for prepayment risk (which is a reinvestment risk), a prepayment penalty clause is often included in the loan contract. [2] "Soft" prepayment terms can allow prepayment without penalty if the home is sold. "Hard" prepayment terms do not allow any exceptions without penalty.

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