Is My Car Loan Open?Oct 25th, 2018
All Woodbine Nissan car loans are open and can be paid off at any time. Keep in mind, if you have a special interest rate on your car loan, like 0% or 1.9%, we encourage you to keep your loan open. Instead, focus on debts that you’re paying more interest on. Sometimes, credit card companies charge up to 20% interest. If you have an outstanding credit card balance, pay that off first.
We also recommend putting any extra money you might have into a Register Retired Savings Plan. You can often get 30% or 40% of that money back at tax time. However, if the time comes and you want to pay your car loan in full, you always have the option.