That is how my car loan worked. Sometimes you have to ask for the extra payment to pay towards the principal though.

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Jan 23, 2021
1:10:11pm

byuluvr Truly Addicted User

That is how my car loan worked. Sometimes you have to ask for the extra payment to pay towards the principal though.

This message has been modified

Originally posted on Jan 23, 2021 at 1:10:11pm

Message modified by byuluvr on Jan 23, 2021 at 1:13:01pm

Message modified by byuluvr on Jan 23, 2021 at 1:15:00pm

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byuluvr

Bio page: byuluvr
Joined: Oct 3, 2011
Last login: Apr 24, 2024
Total posts: 40,652 (1,433 FO)

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Messages

Author

Time

Question about car loan compared too mortgage loan

Pete Office Linebacker

1/23/21 1:09pm

That is how my car loan worked. Sometimes you have to ask for the extra payment to pay towards the principal though.

byuluvr

1/23/21 1:10pm

^this. Sometimes they will just consider them extra payments and push out your next payment due date.

TwinsRight

1/23/21 1:20pm

With both, extra payments avoid interest and reduce time until the loan is

garyfan

1/23/21 1:11pm

It's the same, you are paying down the principal.

ordinary tri guy

1/23/21 1:12pm

What you are describing on the car side is a lease payment. In those, the

The Old Y

1/23/21 1:34pm

Thanks everyone. I won the argument. 🙂

Pete

1/23/21 3:18pm

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