Is signing up for an early auto loan termination program a good idea?

A dealership near me is running a special where they'll pay off my current car loan if I finance a new car through them. Are there any catches to an early auto loan termination program?

Answer provided by
Eric Schad
Answered on May 05, 2021
“What will happen is that the dealer will pay off your balance from the lender and roll that amount into a new loan. It won’t just pay off your loan free and clear.
So you’ll essentially be paying for the leftover balance of the old car but with a new lender. Other than that, there are no catches.”

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