The amount of interest you pay depends on how long you borrow for.
In general:
Shorter loan terms mean less interest paid overall
Longer loan terms mean more interest paid overall
Because of this, if you can afford to repay your loan more quickly, you'll usually pay less in total.
Paying Early
You can make extra payments or repay your loan early at any time.
There are no penalty fees for paying your loan off early.
The sooner you repay your loan, the less interest you'll pay overall.
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