I have never taken a loan before so I don't know much.But when you take a loan, can you pay it off before your term is up?
Like say you have a 3 year loan, and you win a bunch of cash or something in year 1, can you just finish it all right there?
Loan Question
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s14sr20det
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Re: Loan Question
PSG1 wrote:I have never taken a loan before so I don't know much.But when you take a loan, can you pay it off before your term is up?
Like say you have a 3 year loan, and you win a bunch of cash or something in year 1, can you just finish it all right there?
Ofcourse.
true true. I just bough another car (2001 nissan maxima) here are a couple of things about loans. The longer the loan the lower the intrest. If you have colateral(ie car or house) you can use it to get more money. Shop around, in these economic times banks want to loan money out so you have a better shot at getting a lower apr. Get a credit report on yourself and see how many points you have. NEVER NEVER miss a payment. that will be a major point loss. Just ask my stupid brother who is having trouble buying a house right now. There is a small early payoff fee, but is minimal in comparison to howmuch intrest you would have paid in that amount of time. I put my latest car on a 4 year loan (this way i can afford to make 2 payments a month and am safe just in case something unexpected happens) Know you loan officer!!!!!!!!!! If you are buying a car. Haggle the price, dealers are really trying to sell cars right now. I got my maxima for 3,500 below bluebook and its in perfect condition.
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Repo Man
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2003 Honda Accord - Location: Indy
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It all depends on the contract. Some carry minor penalties, some stiff and some none at all. ALWAYS read the contract before you sign it. Be sure to get a copy and keep that copy for the duration of the loan. And of course, abide by the agreement that you have signed.
One thing that has continually amazed me is the people that come back a year after they've purchased their car and complain that their interest rate is too high. My first question is always "Did you read the contract before you signed it?" The interest rate is always listed and if they would have read the contract, they would know what interest they're paying.
One thing that has continually amazed me is the people that come back a year after they've purchased their car and complain that their interest rate is too high. My first question is always "Did you read the contract before you signed it?" The interest rate is always listed and if they would have read the contract, they would know what interest they're paying.
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Holisticbeatz
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repo man wrote:It all depends on the contract. Some carry minor penalties, some stiff and some none at all. ALWAYS read the contract before you sign it. Be sure to get a copy and keep that copy for the duration of the loan. And of course, abide by the agreement that you have signed.
One thing that has continually amazed me is the people that come back a year after they've purchased their car and complain that their interest rate is too high. My first question is always "Did you read the contract before you signed it?" The interest rate is always listed and if they would have read the contract, they would know what interest they're paying.
Well said.. Not only can you find advice about Nissans and Infinities, you can find advice on just about anything else. Does anyone know how to change a diaper in here?
