Finally paid off my Upstart loan 4 months early

Been chipping away at a $4,200 personal loan from Upstart I took out last year to cover some car repairs. Made my final payment yesterday and saved about $90 in interest by paying ahead. The APR was 18% so I'm glad to be out from under it. Anyone else managed to knock out a high interest loan faster than planned?

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theawest4mo ago

Didn't you hate giving that 18% a nice monthly hug?

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adam_nguyen74mo ago

Honestly, what gets me is how Upstart uses their AI underwriting to approve loans at rates like 18% in the first place. Tbh, it's almost like they're betting on you not paying it off early. They front-load the interest so hard, paying ahead is the only way to not get completely hosed. Ngl, I'm curious if anyone's tried negotiating a lower rate midway through just by calling and asking.

3