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July 19, 2019
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Which Auto Loan to Payoff

  • July 19, 2019
  • 1 reply
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I have 3 auto loans and would like to pay one of them off.  How do I determine which one to pay off?

    Best answer by bluedeb

    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/

    1 reply

    bluedeb
    bluedebAnswer
    July 19, 2019

    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/