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How much quicker could i pay off a car loan by Making monthly payments toward the principal balance?

Tara Andrews

in Student Loans

1 answer

1 answer

Dana Keller on December 23, 2018

It really depends on the terms of the contract. If your car loan APR is higher than the rest of your debts, then it is in your interest to pay as soon as possible. If you can pay more than the required monthly payment, and direct to primary, you must treat - even if it is $25 or $50 a month - especially if you have a high APR.

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