Just by how much points gain when paying your car for one year with two years left of payments?

Question

making payments of $239 every month;

Answer 1

Not that many. A car dealer told me that it helps (to pay it off) b/c it shows that you can make payments and it bumps your points up a little bit but really it is the amount of the loan that will help you. Say if you have a $5,000 loan on a car for 2 yrs. and you pay it, it is good and shows that you can make payments. You will more than likely become approved for a $10,000 car the next time you lease a car and no more than that b/c your previous loan was only for $5,000. You are mostly showing that you can make on time payments and building a credit history and that is just as important as points when it comes to credit. Good luck.

Answer 2

not to much as notes paid as agreed even if paid off early do not generally impact the score as much as high limits to revolving accounts do---but you will save on some interest

Answer 3

That is only one small part of your whole credit report. If you are paying that on time, but are running late on other obligations then your score will actually go down.