Car dealer said they can knock off $3k if I buy it with finance. With cash, they can only take off around $1k so I bought the preowned with financing. I'm in NY and they said there is no penalty of early payments. I have enough cash to pay off $20k so I'm not worried about the 10.04%. However the finance guy at the car dealer was telling me that I should not pay off everything in one go. Although I've 760+ credit score, I've only been in this country for under 2 years. I have nothing on finance nor do I have anything under my name which is why that I have a very bad rate. He propose that I leave around $500 or less and pay it off in 1 year. 10.04% is incredibly high but if it's only $500, I don't mind. What do PF suggests?
edit: I already bought it with finance. I'm just debating whether I should pay off all 20k in one go or leave around $500 and build up my credit?
edit2: Most people suggest to pay it all off so I've just paid it all off in one go. I guess keeping the remaining balance at $500 would not help me get a better deal on the next loan for when I need it.
Submitted July 09, 2018 at 02:49PM by throwpoo https://ift.tt/2m1A2xw
