by Hayden » 28 Nov 2009, 18:17
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.