I owe 3700 on my car , if I sell it for that amount and one year early. Will this affect my credit?

Question

I owe 3700 on my car , if I sell it for that amount and one year early. Will this affect my credit?

Answer 1

Ask Dave Ramsey @ http://www.daveramsey.com/

Answer 2

Nope, as long as you fully pay off what you owe, it won't hurt your credit.

Answer 3

One year early?? You mean before your loan is paid it off?

There is no penalty for paying off a simple car loan early. In fact it will look good on the credit report to show a closed loan that was paid in full.  

Hopefully you've never paid late, that will kill the credit score.

Answer 4

It depends, some loans have a penalty for paying it off early.

Answer 5

I have never missed a payment ever! I paid every week Im just tired of the car.