Comments on: How to Pay Off a Car Loan

By: Net Worth Review: March 2012

Net Worth Review: March 2012 — Fri, 04 May 2012 11:26:17 +0000

[...] than later, we’re taking our time to find a great deal. We worked hard to save our money to avoid a car loan, so it’ll probably take a bit more time for us to find The [...]

By: Luvvirgin

Luvvirgin — Fri, 06 Apr 2012 06:48:00 +0000

Send it separately. Marked specifically, “apply to principle only”. Seriously.

By: Financial Choices and their Impact 5 Years Later

Financial Choices and their Impact 5 Years Later — Thu, 05 Apr 2012 15:35:45 +0000

[...] we were married we worked on paying down a car loan I took on that was hurting our monthly budget. Happy to say that we paid that off early. While [...]

By: How Serious Are You About Your Retirement? Open a Roth IRA

How Serious Are You About Your Retirement? Open a Roth IRA — Tue, 27 Mar 2012 11:46:11 +0000

[...] Car loans [...]

By: Brad Kyle

Brad Kyle — Tue, 06 Mar 2012 13:50:00 +0000

I just landed a high paying job and am cutting my 60 month payment into 9 months and paid off. The interest rate was almost 18 % (recent credit issues last few years) and doing it this way will cut off almost ALL the interest. I havent figured out exactly WHAT my interest rate will be doing it this way but it comes out WAY better then it would have at 60 months. Id be paying over 12,000 dollars for an 8,000 dollar car. Its in great shape. Five years old with just 60,000 miles. I also dropped the “extended warranty” and that will be applied to the principal, the refund on that being $1,200.00 and also dropped the “gap insurance” having another $300.00 taken right off the principal. The basic rule of thumb i have found is they cant charge you interest on what you DONT HAVE FOR A PRINCIPAL. Will my credit union LIKE not getting any of this interest? No, id say not but i read my paperwork and it says right on my contract NO EARLY PAY OFF PENALTY. Good thing im doing this as it looks like i will need the money for GAS at almost $4.00 a gallon now!