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DO anyone know if there is a prepayment penalty for paying a car loan off through chase manhatten bank.? |
DO anyone know if there is a prepayment penalty for paying a car loan off through chase manhatten bank.? Prepayment penalties are increasingly rare with autos, and are usually more common if you were to refinance your vehicle. The best thing you can do is contact the lender of your auto loan (the place where you send your payments) and they would be able to tell you right away. This is definitely a wise move, and you get a thumbs up. Depreciating assets like cars, although necessary, are the worst types of investments on the market. The *only* way to know is to read your loan agreement. I'd guess not, but the details would be in there, probably under a paragraph or section titled "prepayment", or something like it. never heard of early pay-off only early withdrawl penalty(CD account), you've got the $ pay it off. Maybe call Chase Manhatten Bank and ask them??? Call me stupid. I'll give you a hint..... The answer is NO there shouldn't be you will need a payout figure and they are still making quite a bit of interest a mortgage has a penalty for early payouts The *only* way to know is to read your loan agreement. I'd guess not, but the details would be in there, probably under a paragraph or section titled "prepayment", or something like it. |
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