How does paying off a car loan early affect my credit score?
I recently bought a new car and financed for 48 months (mainly to get a rebate). Now, 6 months later, I have enough money to pay off the loan. However, the car salesman told me that I should wait at least a year to pay it off fully to help my credit score. Does anyone know how this works? My score is 720 if that helps. (Note: I’m not interested in whether I should pay off the loan or not, just when and how it will affect my score.)