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Originally Posted by Ben73
I Could probably pay of the entire loan in less than 2 years instead of 4. But I want to pay it off over the entire 4 years because banks like to see that you have a reliable, steady payment, and not varying all over the place($700 one month, $2000 the next, $850 the next. Banks hate that stuff apparently.
I want a good record for when I buy my house. But I don't want to keep this car for another 3 years.
Any advice appreciated.
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Dont know where you get your advice from but its time to start listening to someone else.
Banks dont want you to pay your loan off quicker - that way they get more money from you, in the form of interest.
If you pay the loan off quicker, youll pay less interest and you'll look better at the end of it.
You can demonstrate that you can handle a loan, you can pay off comfortably and more quickly that needed - thats a good thing.
You do need to speak the financier as you pretty much now owe more than the car is worth.