If you pay more than the amount due every month do you still get charged the same amount of interest?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

NO, you should actually pay LESS interest over the period of the loan. You will actually pay it off sooner.  
If you are paying more then you need to specify to the dealer that you would like all overpayments to go twards the princeple not the interest which by lowering the princeple will automaticly lower the interest.
155 people found this useful

If you have an escrow account with a mortgage do you pay interest on the escrow amount of the payment each month?

Interest is only calculated on the principal balance of the loan. For example, on a 30 year loan, if your principal balance (or loan balance is $100,000.00, and your interest

What happen if i don't pay credit card the amount due each month?

If you don't pay at least the minimum payment on your credit cards by the due date, you will be considered a month behind and so on till you are up to date with your monthly p

Can you have more than 1 dental insurance plans i have a dental insurance but i need a lot of work done and after they pay i still have large amount to pay?

You will not find much benefit in purchasing more dental coverage as they will only coordinate the benefits anyway. You best bet is to work out a payment plan with the dentist