Paying down the principle of a loan??
What are the advantages of paying towards the principle of an auto loan rather than basically paying advance payments (ie. paying it up till sept. 08)?
Answers: By paying the principal sour you will reduce the interest you will hold to pay. Advance payments still follow the amortization agenda based of the inspired principal.
When ever you have the choice and capability, pay down your principal.
paying extra towards the principle will downsize the total interest you pay over the life span of the loan - paying advance payments doesn't do that - a moment ago gives the loan company free use of your money
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Answers: By paying the principal sour you will reduce the interest you will hold to pay. Advance payments still follow the amortization agenda based of the inspired principal.
When ever you have the choice and capability, pay down your principal.
paying extra towards the principle will downsize the total interest you pay over the life span of the loan - paying advance payments doesn't do that - a moment ago gives the loan company free use of your money