u/-lcaples-

My wife and I just bought a used vehicle this past weekend ($29.3k total amount, $20k down, 9.3k financed). This is our first ever auto loan and there is no prepayment penalty. We have enough to pay the full loan amount, but the finance manager told us to wait at least 12 months to build our credit history with the loan. Our current credit mix consists of a mortgage and credit cards that we payoff the full balance monthly.

My question is should I pay off the auto loan soon (1-3 months) or wait (12+ months) to better impact my credit score? Is there any difference in doing either?