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2. 5 Strategies for Paying Off Car Loan Early - AOL

   www.aol.com/5-strategies-paying-off-car...

   Right now, the average car loan interest rate (also referred to as APR, the annual percentage rate, though there’s a difference) is over 4%. ... Car Loan Calculator: An Example. Interest on a ...

3. Understanding the Pros and Cons of Paying Off a Car Loan Early

   www.aol.com/understanding-pros-cons-paying-off...

   Paying off a car loan early can be exciting, but it is important to weigh the pros and cons of doing so before making a final decision. ... For premium support please call: 800-290-4726 more ways ...

4. Should you pay off your car loan early? - AOL

   www.aol.com/finance/pay-off-car-loan-early...

   Whether to pay off a car loan early depends on your budget, your loan’s interest rate and your other financial goals. Generally, you should pay off your car loan early if you don’t have other ...

5. Rule of 78s - Wikipedia

   en.wikipedia.org/wiki/Rule_of_78s

   Also known as the "Sum of the Digits" method, the Rule of 78s is a term used in lending that refers to a method of yearly interest calculation. The name comes from the total number of months' interest that is being calculated in a year (the first month is 1 month's interest, whereas the second month contains 2 months' interest, etc.).

6. Prepayment of loan - Wikipedia

   en.wikipedia.org/wiki/Prepayment_of_loan

   The new financing may be cheaper because the borrower's credit has improved or because market interest rates have fallen; but in either of these cases, the payments that would have been made to the MBS investor would be above current market rates. Redeeming such loans early through prepayment reduces the investor's upside from credit and ...

7. Notional amount - Wikipedia

   en.wikipedia.org/wiki/Notional_amount

   In simple terms, the notional principal amount is essentially how much of an asset or bonds a person owns. For example, if a premium bond were bought for £1, then the notional principal amount would be the face value amount of the premium bond that £1 was able to purchase. Hence, the notional principal amount is the quantity of the assets and ...

8. Paying off debt early: Advantages and disadvantages - AOL

   www.aol.com/finance/paying-off-debt-early...

   How to pay off debt early. ... your total interest for the loan would come out to $2,493 — an overall savings of $1,553. ... If your debt is manageable and the interest rates aren’t sky-high ...

9. Car finance - Wikipedia

   en.wikipedia.org/wiki/Car_finance

   The borrower then pays off the financial institution the same as for a direct loan. [citation needed] Typically, the indirect auto lender will set an interest rate, known as the "buy rate". The auto dealer then adds a markup to that rate, and presents the result to the customer as the "contract rate".