You may hear lauded financial experts talk about the benefits of paying off your loan early, and what they say is right…mostly. However, are there circumstances when paying a loan off early could be more hurtful than helpful?
Let’s take a look.
While paying loans off early can have big benefits like freedom from debt and money saved in interest there are absolutely some times that paying a loan off early isn’t to your benefit. Here are three times when it benefits you to keep a loan and put your extra funds somewhere else:
Wondering if paying off your loans is the best use of your money? Just ask! We’ll be happy to review your credit report, help you do the math, and layout the options that will most benefit you. Give us a call today at 979-316-4833!
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