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Can I pay off my car immediately ?

So I owe capital one $8,000 for my car, I've been paying it for a year already. However, I have the money ready to fully pay off the car now. Are there any hidden fee or anything that I should be aware of before paying? Thank you.

  • Best Answer

    Since Capital One is a Credit Card..............you used this Credit Card to purchase a car.  Just pay the Credit Card off. 

    L
    Lv 4 2 months ago 0 1
  • Other Answer
  • Since Capital One is a Credit Card..............you used this Credit Card to purchase a car.  Just pay the Credit Card off. 

    L 2 months ago 0 1
  • Just ask Capital for an "estoppel" letter.  That's an official payoff and will include penalties, if any.

    realtor.sailor 2 months ago 0 0
  • Yes there's a penalty for paying prematurely.

    .  The whole story was in your payment agreement as to the size of the penalty.  Just read it. It is your choice.

    Anonymous 2 months ago 0 4
  • Call and check with them. You may save money

    Jabberwocky 2 months ago 2 0
  • No worries. Just pay it off.

    regerugged 2 months ago 3 0
  • We don't have your loan paperwork. You read the information related to the loan for early payoff.

    thebax2006 2 months ago 2 0
  • Ask first so you know at least what you're doing.

    rustbucket 2 months ago 1 0
  • Most of the time you can, just read your contract to confirm. Its ALWAYS cheaper to pay it off immediately or as soon as possible, because the amount of interest you have to pay otherwise, is extreme. There is usually a small fee to pay for early loan settlements, but its usually maybe a couple hundred dollars depending on the total amount (much much less than the thousands of dollars in interest youd pay by paying it off), it should state the amount in your contract. It might not even break $100, just depends.

    JimTom 2 months ago 4 0
  • Nope. You might receive some interest back if you pay it off before the next payment is due. You will save a whole lot of money by paying any loan off early. Like you can save hundreds of thousands of dollars in interest if you take a 15 year mortgage over a 30 year mortgage. (depending on the cost of the home)

    CactiJoe 2 months ago 2 0
  • They dont want u to pay cars in full they make more of u by weekly payments

    Jordan 2 months ago 1 1
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