Comments on: Extra Car Loan Payments http://www.greenpandatreehouse.com/2008/02/22/extra-car-loan-payments/ Working Student’s View of Personal Finance and Frugal Living Tue, 07 Oct 2008 11:42:01 +0000 http://wordpress.org/?v=2.6.1 By: bethh http://www.greenpandatreehouse.com/2008/02/22/extra-car-loan-payments/#comment-1384 bethh Wed, 27 Feb 2008 21:22:15 +0000 http://www.greenpandatreehouse.com/2008/02/22/extra-car-loan-payments/#comment-1384 I have the feeling that the interest is calculated monthly, so if you pay extra now, there will be a smaller balance when the interest next gets calculated. I've been paying extra on my car loan, and it shows that it's paid through January of next year, but I'll be sending in the last payment next month. When I'm done I'm going to get the final information from them (if possible) to see exactly how much interest I paid. Good luck getting your question answered, but the information might be on the small print of your loan paperwork. I have the feeling that the interest is calculated monthly, so if you pay extra now, there will be a smaller balance when the interest next gets calculated. I’ve been paying extra on my car loan, and it shows that it’s paid through January of next year, but I’ll be sending in the last payment next month. When I’m done I’m going to get the final information from them (if possible) to see exactly how much interest I paid.

Good luck getting your question answered, but the information might be on the small print of your loan paperwork.

]]> By: Green Panda http://www.greenpandatreehouse.com/2008/02/22/extra-car-loan-payments/#comment-1366 Green Panda Tue, 26 Feb 2008 02:12:57 +0000 http://www.greenpandatreehouse.com/2008/02/22/extra-car-loan-payments/#comment-1366 Susan: If I'm feeling better, I'm going to my local ranch and asking. Thank you for the suggestion. Sue: It is a financed car. I'll ask if they would accept that plan. Susan: If I’m feeling better, I’m going to my local ranch and asking. Thank you for the suggestion.

Sue: It is a financed car. I’ll ask if they would accept that plan.

]]> By: Emma http://www.greenpandatreehouse.com/2008/02/22/extra-car-loan-payments/#comment-1365 Emma Mon, 25 Feb 2008 17:59:30 +0000 http://www.greenpandatreehouse.com/2008/02/22/extra-car-loan-payments/#comment-1365 That sucks. I remember paying extra on my Golf GTI. All the extra payments that I did make did go towards the principle, we had our loan through USAA though, not a DCredit union, maybe they work differently? That sucks. I remember paying extra on my Golf GTI. All the extra payments that I did make did go towards the principle, we had our loan through USAA though, not a DCredit union, maybe they work differently?

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