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If the total interest expense is included in the loan balance, they you'can't pay off the car without paying interest.
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoYes you can, If you pay extra with every payment. Or pay the full loan off all at once.
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After you've paid your car and the interest rate is left on the loan and you don't pay can they repo the car?
after paying the auto loan to cover the car and more. What's left is the interest rate the lender adds on at the end of a loan, if you become delinquent in paying on the interest added, can the care get repo'd?
Can you really keep paying principle payments towards your car loan and reduce interest?
By paying down the principle you decrease the amount of interest you pay on the loan. This will save you considerable on interest charges over the life of the note. If you simply pay an additional amount on the loan each month, over and above the required payment amount, you will also pay the loan off in a shorter period of time.
Will paying more every month on car loan lower the total cost?
Yes it will. They car will be paid off earlier and interest will not be as much based of the total balance.
Can you get a pink slip for a car left by a MIA person who still has a loan that was outstanding over a year ago without paying it off?
IF you contact the lender that has the loan on it and IF the lender approves you to assume the loan.
What happens if you stop paying your car loan?
Repo.......homo
After you've paid your car and the interest rate is left on the loan and you don't pay can they repo the car?
after paying the auto loan to cover the car and more. What's left is the interest rate the lender adds on at the end of a loan, if you become delinquent in paying on the interest added, can the care get repo'd?
Will I save money by paying off my car loan early?
When it comes to car loans you want to always make extra payments, whether it be an extra 20 bucks here and there. This will go to principle rather then interest. That way you are not paying only interest on your loan, and you are not gathering interest.
When is it right to start paying a student car loan?
Well, there is no such thing as a "Student Car Loan", but there are student loans and there are car loans. Both are serious financial obligations that accrue interest, so you should start paying them as soon as possible.
If your balance on your car includes the interest for the remaining eight monthsleft on loan will you have to pay that amount if you are paying the car off eight months early?
Was there a special provision which stated all additional interest charges required to be paid when you bought the car? If not you don't pay the interest if you pay the loan off early.
How Paying Off Your Car Loan Early Can Benefit You?
Paying off a car loan early may be difficult, but it has financial benefits: Interest Savings- If you pay off your car loan early, you'll save money by having a shorter time for interest to be charged on the loan, plus a smaller balance while you're working on paying off your loan. Fewer Payments- Although it'll take some planning to be able to pay more towards the loan now, you'll soon not have to worry about making any payments at all once your loan is paid off.
What is the meaning of auto loan calculator.?
An auto loan calculator shows how much you're REALLY paying for a car after the loan term and interest rate are factored in. It can also calculate how long it will take to pay off your loan based on how much you are paying each month.
Can you sell a car that the loan on the car is delinquent?
Yes, but they may need to requalify, or cash it out. The cash payoff, may be much lower than the loan amount, depending on the state. It will depend upon if the interest is figured into the loan, or not. Since you are paying off the loan early, that may eliminate some interest. Communicate with your bank. They do not want the car back, and will try to help you out.
Can you really keep paying principle payments towards your car loan and reduce interest?
By paying down the principle you decrease the amount of interest you pay on the loan. This will save you considerable on interest charges over the life of the note. If you simply pay an additional amount on the loan each month, over and above the required payment amount, you will also pay the loan off in a shorter period of time.
What are the advantages of paying cash for a new car?
If you have enough disposable income with which to pay for a new car with cash, then do it. The advantages are in not having to pay any interest on a loan.
What should you do when the lien holder sent you a clear title and you still owe on the vehicle?
Just keep paying your car loan.Just keep paying your car loan.Just keep paying your car loan.Just keep paying your car loan.
What are Pros and cons for paying cash for a car purchase or getting a loan?
Paying cash you pay less since no interest & you do not have to have full coverage insurance which saves more money.
Should You Pay Off Your Car Loan Early?
Typically loans require you to pay interest. That means that you are paying a bank or finance company to loan you money in the first place. With car loans, you generally pay your interest up front, which means that at the beginning of your loan a large amount of your payment is going to cover interest and a very small amount is being applied to the principal. Unless you've managed to secure a 0% interest car loan, paying even a little extra every month will add up to large savings over the course of your loan. Your car will be paid off early and you can save hundreds, or even thousands, of dollars in the process.
