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I'm planning to finance about 50% of my next car. Since I never have done financing deal I'm wondering is it possible to find a loan that does not penalize me for paying a loan early?


On a side note, I just looked at my credit report and I noticed that it lists Paid Tax Lien for $280. Which happened purely by accident because of address change. I paid it off as soon as I found out about it but now it's in my record. I'm now royally screwed right?
 

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Not necessarily, it all comes down to your entire credit history, income and score. The lender is looking for anything that could lead to issues in the future. I'd shop it around, you may be surprised. You may have to provide an explanation to the tax issue. Good luck.
 

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Just got a loan through my credit union. I can pay early. I can change payments to weekly, bimonthly(chops off 4 months), monthly. Prepayment penalties are just greedy folk who want all their money.

As for the tax lien, I'd try disputing it. If they answer it in time, dispute it again. I've know people who have gotten things off their credit report this way, but it's also very easy for it to pop back on.
 
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