Long term finance & FICO

[FICOhatesme]

Can long term auto financing lower someone's fico score?

Does it look bad to other lenders even if you pay it off early?

 

I want the longest loan term I can get, but I want to pay it off early.

[MarvBear]

Can long term auto financing lower someone's fico score?

Does it look bad to other lenders even if you pay it off early?

 

I want the longest loan term I can get, but I want to pay it off early.

#1 No

#2 Yes, to future prospective automotive lenders if loan is PIF in < 12 months.

#3 I hear that a lot.

[shifter]

Longer terms often come with higher APR.

 

Go with the shortest term you can afford to get the lowest APR.

[FICOhatesme]

Just fyi, when I say I will pay it off early, I mean it.

[nysbadmk8]

How early...

 

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[FICOhatesme]

How early...

 

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3-4 years

I am hoping for a 6 year term