If the purchase is payed off in a couple of months do i save on interest?

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If the purchase is payed off in a couple of months do i save on interest?

asked by Elliston C. on 8/26/19

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Ivana V. [MDG Rep] · Answer 1 · 2019-08-27T05:46Z

Ivana V. [MDG Rep]

on 8/27/19

Yes. It's an open term loan. You can increase payments, or make additional payments that will straight to your principal balance and help lower your balance faster. The faster the balance decreases the less interest you pay, and the more money you will save!

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