"You can pay your bills faster than expected.....man you must suck with money, better not trust you with it."
You are thinking like a white man. The point of them offering the loan in the first place wasn't from good will, it was to make the shekels goy.
Well I get it that if the contract says 10k over 5 years with 5% pa that the bank expects 500 bucks in profit, thats what you signed, so sure you have to pay the 500 even if you payed the 10k back after 2 years.
But why the fuck the panelty then?
It's been a while since I've had to deal with loans, but a 10k loan over 5 years is going to cost you a lot more than just $500 interest over the 60 months of the loan.
The penalty for early payment is forcing you to make up for what they were expecting to get in interest and the credit score hit is to stop you from bothering them in the future.
Credit rating is simply a metric of how good an economic unit you are. If one wheel of the car turns faster than the others it does not get you to your destination faster.
Sorry, I forgot the goys are expandable items in the chosen game.
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