Paying them off!

[Tiersha]

Auto loan with $4603 left @ 7%

Personal loan $831.06 @ 9%

I have the option to pay them off now.  I have closed on my refi.

How much of a dump will my credit take in paying them both off?

Maybe I should pay off the personal loan and a good chunk of the car then pay the car off naturally?

Suggestions?

[Loquat]

No one can really tell you what you can expect score wise because we don't know what your overall profile looks like. Some may see a loss, some not...but there's so much depending on it that it'd be hard to guess.

In my opinion only, I wouldn't ever continue to pay interest just to satisfy a FICO score algorithm. For me it'll always be money saved greater than a potential, temporary change in score.

[Tiersha]

That is where I am at also.  I see money in the bank...I've no need to worry about my score dropping for a bit but I do know there are some pretty damned good insights in this place.

[pizzadude]

I agree, for me it's always better to drop interest rates / pay off debt if you can do so.

You mentioned a refi, so if you're paying these off and opening a new installment loan then I wouldn't expect much impact, if any, to your FICO scores once the new loan is reporting.