Quantcast
answersLogoWhite
notificationBell

Top Answer
User Avatar
Wiki User
Answered 2011-09-13 02:32:48

If you mean "pay off" it is better to do it before the lien is up. You pay less interest.

001
๐Ÿ™๐Ÿฟ
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0
User Avatar

Your Answer

Still Have Questions?

Related Questions

Should you retire a loan towards the end of its term or much before it?

Unless there is a tax benefit that you want/need, you should retire a loan as soon as possible. I am assuming that there is no prepayment penalty, which may impact your decision. It is costing you money (in interest) while you have the loan.


What would be preferable to retire a loan towards the end of its term or much before it?

It would be more preferable to retire a loan before the end its term. The sooner the loan is paid, the less interest you will pay on the loan and the financial savings for the business. In some cases, utilizing lower cost loans to retire the more expensive loans before their term ends brings substantial benefits to a business. However, some loans have early payoff penalties. Comparing the amount that could be saved on interest charges with other contributing factors should help in making a decision.


What would be preferable to retire a loan towards the end of its term or much before?

The earlier you can retire a loan, the more money you will save in interest. Assusming it's simple interest, in the first years very little of the payment is going to reduce the principle. Toward the end of the loan term, most of the payment is going to principle and very little to interest, so the benefit of paying it off early at that point is limited. On a long term loan like a home mortgage, you may find that over the course of the first year, the principle goes down by about the amount of one month's payment. That means that if you can pay the equivalent of one month's payment extra toward the principal, you will have reduced payoff time of the loan by a year.


How would you refinance an auto loan?

You can refinance an auto loan at any place you can get an auto loan. It may be best to use an agency in which you have already gotten a loan through before.


How can one qualify for the best rate on a personal loan?

To qualify for the best rate on a personal loan, it is advisable to consult an insurance broker who will make an affordable offer optimized for your personal loan. Also have a general overview of the Bank leading insurer before you opt to getting a personal loan. It depends on what kind of personal loan you are looking to get a rate on. Usually the banks or insurers will offer you the best advise before you even consider buying a personal loan.


I'm looking for a VA loan, can you tell me where I can find the best price?

Look at loan comparison websites for a good idea on the rates available. Before applying for a loan, it is best to check your credit history. If you have a good history, you will get the best rates.


Is it viable to retire a loan with a repayment penalty?

Only the borrower can answer that question.


If you make a loan payment before it is due will it be counted as the upcoming payment?

No, it get put toward your principle balance. The payment is still due the next month.


What happens if collateral used for loan is sold before the loan is repaid?

You are still responsible for paying the loan as before.


Getting the Best Rates on Car Loans?

Having an updated copy of your credit score and report is essential when applying for a car loan. Your credit score will determine how much you can borrow toward the price of a car and how much interest you will pay on the loan. The higher your score, the lower your interest rate will be. Over the life of a car loan, this can save you thousands of dollars in interest fees. When you are shopping around for a new or used car, get a copy of your credit score and report. Knowing before you go is the best way to get the best rates.


Whom should I approach for home loan?

How much loan do you need to take? Have you taken a loan before? You approach any of the reputed banks in UAE that follow Islamic finance guidelines. They will offer the best loan benefits and will be transparent in their dealings.


If a loan has a prepayment penalty attached to it could it still be viable to retire it and why?

Perhaps. The difference in the prepayment penalty and the amount of interest paid until the loan is satisfied is a major consideration. If the difference is small,early payoff might not be the best option.


cash are also considered to be cash advances in ac?

http://eirsc.com/ mobil loan , mobil loan , mobil loanhttp://eirsc.com/ best online loan deal , best online loan deal , best online loan deal


Which loan would be best if I want to rent out a house?

The best type of loan would be an investment property loan.


Can you sell a vehicle if the cosigner refuses to sign off on the loan?

The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.


What problems would arise without financial intermediation?

The amount to loan Duration or maturity of loan Attitudes toward risk


Where can one find the best car loan rates?

The best way to get the best car loan rates is to apply for various car loans through different banks. If you go to the dealer and speak with their financial specialists, they can send your application to various banks to see who will give you the best rate. This will only count toward 1 inquiry on your credit report.


How might one qualify for an auto loan with bad credit?

One might qualify for an auto loan with bad credit by applying for dealer financing. It is best for one to know their credit score before applying for an auto loan.


How would an amortization loan table help you?

An amortization loan table can help show you how making more payments toward your loan, can really help you out in the long run. By filling one out, you can figure out when your loan will be paid off by.


What is the meaning of loan amortization?

Amortization is A method for repaying a loan in equal installments. Part of each payment goes toward interest and any remainder is used to reduce the principal of the loan


Loan has been sanctioned to me?

Great.Before finalizing the loan and approving for disbursal you should always compare the offerings of different banks.Gosahi com is the best place for this. Visit gosahi submit your details and you will be welcomed with quotes from major bank, select your best option and the loan process initiates. It's as simple as that.


What is the best loan calculator?

The best loan calculator is the one present on the website of Bank of America. If you have already decided on the financial institution for your loan, you could use the loan calculator from that institution.


payday loans online Easy Cash Advance Online?

http://voiceoftopcash.com/ Best Online Loan Deal , Best Online Loan Deal , Best Online Loan Deal


If a loan has a prepayment penalty attached to it would it still be viable to retire it?

You need to compare the cost of the repayment penalty and the benefits of having the loan (such as deductible interest) vs. the benefits of paying off theloan such as increase cash flow. Do that analysis and determine the best use of your money.


Why are teaspoon loans reported as taxable income?

A tsp loan is not taxable income unless: 1 you default on the loan, 2 you miss a payment, 3 you retire or leave the federal service before the balance is paid off. In any of the scenarios above it is only the unpaid balance that is taxable.


Still have questions?

Trending Questions
What times 10 equals to 1000? Asked By Wiki User
How old is Danielle cohn? Asked By Wiki User
Unanswered Questions