I have recently purchased and financed a used car from a dealer. I have financed the vehicle through a large bank. I plan to payoff the loan after owning the car only 2 months. I believe this will incur a $75 penalty, I’m Ok with this. My question is what is the best way to make this paymemt? It will be on the order of $14K. The money is in the bank, should I wire transfer, electronic check, paper check or ??
Thanks for your advice
If the bank has a branch close by, I would go by and do it in person. Take your statement and explain you want to payoff the loan. They will then calculate the payoff amount on that day and you can just write them a check.