Answered on Jul 28, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“In some cases, this might help you save money.
However, highly incentivized financing options may have a prepayment penalty. This means that if you pay the car off early, you might get hit with a substantial fee.
Always ask if there’s a prepayment fee before you sign any new car
If there isn’t a fee for early payment, then you can certainly pay off the loan.
This does raise ethical questions to some degree, but depending on who you ask, people may or may not say doing such a think is unethical.”