No Prepayment Penalties
You may notice that many finance companies advertise no prepayment penalties. What they don’t advertise is that this sometimes means you can pay the total of your scheduled monthly payments ahead of time – INCLUDING all the interest.
When we say no prepayment penalties, we mean it. You can pay off the remaining principal balance any time you like. You’ll only pay interest for the time you have the loan. The earlier you pay off, the more you save.