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Paid off my Auto Loan

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Red1Blue
Super Contributor

Paid off my Auto Loan

Today I have paid off my Auto Loan for my Highlander with Affinity FCU. Total of 4 payments. A big relief.

 

Now I have to pay off my Camry loan with Toyota Financial. Hopefully before end of this year, I want to pay off the Camry Loan also and get out of Debt.

 

I am not sure what it will do for my Fico scores, if I do not have any installment loans. At this time of bad economic times, I 'll settle for less debt even though it means my scores might drop.

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1 REPLY 1
Anonymous
Not applicable

Re: Paid off my Auto Loan

I have read that they will drop. But I agree with you, if something happens that you can't pay the loan it will hurt your scores worse than paying the loan off early. I have 32 more months to go on my new car. Smiley Sad  
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