Quote:
Originally Posted by boneprone
Actually I think its the other way around isnt it?
They look to see if you only make the min payments. If so it's not a benefit for you.
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he's right. banks especially don't like you to pay off a loan quickly. for example, if you take out an auto loan it isn't good to pay it off within a year or even two years. they want you to pay the monthly payments stated on time. i guess one reason is that they get the interest by keeping the loan open. if you make large payments or pay the loan off early they don't get the interest (make money)