It changes the amortization schedule. Depends on the loan amount, years of the loan and interest but it works. Most people don’t know with a car loan that most of the time you can call the loan company and make direct extra payments right to the principal. They won’t put it on your monthly bill but it will be written into the fine print. Most don’t know to look. Pay extra on the principal, knock years off the term. 😃
Well, I live in a house so I don’t have to live in a 70 unit apartment building with a thousand section eight welfare recipients spitting out Spanish speaking only degenerate children, playing cha cha music all night and rifling through my apartment when I leave to go to work so I can pay for their EBT and subsidize housing. I’ll never pay it off and I don’t care. I’ll sell it before it’s ever payed for. It’s a no brainer.
Tard -RIP bozo