01-03-2014, 04:05 PM
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#1 (permalink)
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A True Z Fanatic
Join Date: Oct 2013
Location: Cumming, Ga
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Quote:
Originally Posted by Chuck33079
I've had multiple car loans where any additional amount I paid went toward the next month's payment unless otherwise instructed.
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Well a lot of times too a leinholder will adjust your payment down due to your extra amount paid reducing the principle owed in an attempt to recapture as much lost interest from an early payoff as possible.
The point is that leinholders are tricky and you have to scrutinize and ask all the questions up front b/c once you have a loan with someone it's not free to change if you don't like something.
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