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

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Jan 23, 2021
1:12:16pm

ordinary tri guy Truly Addicted User

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

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ordinary tri guy

Previous username: whiteninja
Bio page: ordinary tri guy
Joined: Nov 24, 2008
Last login: May 1, 2024
Total posts: 23,075 (2,086 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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