What is the best way to pay off your auto loan ?

i just bought a brand new 2007 toyota, corrola. because of my bad credit, my interested is 12.99%. if i make a pymt the way my contract stated, i end up in paying for 2 cars. please help!

What is the best way to pay off your auto loan ?
Pay on time for a year then refinance for a lower rate. Try Capitalone.com refinance.
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Reply:what get real said is true - pay a little extra each month.





Make all your payments on time to this and other creditors and eventually your credit will be better.





Good luck
Reply:Send a little extra in with each payment. 10 or 20 dollars a month going to the principal instead of the interest makes a big difference and pays the loan off much quicker.
Reply:Actually 12.9% isn't all that bad for bad credit.I've seen almost double that for poor credit.


Every month when you make payment,add a little more and state on your stub that it goes towards "principal".


It may not help much now,but it will help pay off faster %26amp; improve your credit rating.


Also,you may want to check your credit report.You might have too many open accounts that you never use.That will hurt credit big time.
Reply:after 6 months, refinance for a shorter term. you may be able to get a lower rate after that time as well.
Reply:make double payments. this will cut out quite a bit of interest.
Reply:get a job