For many Canadians, buying a vehicle with a car loan in Canada is a common path to car ownership. But what happens after you've been making steady car loan payments for a while and start thinking—"Should I pay this off early?" Whether you’ve come into extra cash or simply want financial freedom, paying off your car loan early can seem like a smart move. But before you do, it’s important to weigh the pros and cons, and understand what a car loan is at its core. Let’s explore the benefits, potential downsides, and smart tips for tackling your car loan ahead of schedule.