Paying loan off fast - hurting my credit??? What do you think...?

Ok, so i've been making extra payments towards my car loan so I can pay it off ASAP, sounds like a good idea huh? Well, At the rate I am paying it off, I will probably have it done 18 months AHEAD of schedule.

I figured not only would it get the debt out of my way, but i would pay less interest AND it would look really good on my credit.

However, my father told me (which I shouldn't be listening to him because my credit has been way higher than his for years now) that if I paid it off too fast it would actually hurt my credit because banks want to see that they can make money off of me.

Is this true or a bunch of BS?

Thanks!

Paying loan off fast - hurting my credit??? What do you think...?

Auto finance is what I do for a living and as long as you make between 12-18 payments before you pay it off you will be fine and your score will go up.

Paying loan off fast - hurting my credit??? What do you think...?

Paying faster is good and will not affect your score, in fact it will help.

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