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cvannorman85
New Member

Which Auto Loan to Payoff

I have 3 auto loans and would like to pay one of them off.  How do I determine which one to pay off?

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‎July 19, 2019 6:46 AM
last updated ‎July 19, 2019 6:46 AM
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bluedeb
Level 15
Level 15

Which Auto Loan to Payoff

Most likely you should pay off the highest balance car loan.  The amount you still owe on your debt will also affect your credit score. High levels of debt will lower your credit score, and having low (or no) balances owed will boost it.

 

For more information on paying off a car loan, see the following

https://www.supermoney.com/paying-off-car-loan-improve-credit-score/

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‎July 19, 2019 7:18 AM
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bluedeb
Level 15
Level 15

Which Auto Loan to Payoff

Most likely you should pay off the highest balance car loan.  The amount you still owe on your debt will also affect your credit score. High levels of debt will lower your credit score, and having low (or no) balances owed will boost it.

 

For more information on paying off a car loan, see the following

https://www.supermoney.com/paying-off-car-loan-improve-credit-score/

‎July 19, 2019 7:18 AM
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