Watch out for pre-computed interest
Some loans come with a fixed dollar amount of interest that you have to pay your lender no matter how long or how short your loan term is. With pre-computed interest, you won’t be able to save on your loan by paying it back early, unless your contract mentions getting a rebate or refund for early repayment.
Not all fixed interest loans come with precomputed interest, however. With simple-interest loans, your interest adds up over time and you can pay it off early to save.