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You can't! There are plenty of scams out there who says "buy my book or CD and I will teach you how" but they are scams. Ultimately, I guess you could, if the lender and/or collections agent agree but this will usually show up on your fico report and it will hurt your score. You may find it more helpful to call the lender and ask for an interest rate cut, and if they do, you will be better off. Remember, lenders aren't in the business to lend money for free, because they themselves are paying interest on the money lended. PS Depending on the type of loan and your tax profile, you may be able to write off the interest on that loan. Consult your tax preparer for more help in that area... Good luck!
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Can you pay off a car loan without paying interest-?
If the total interest expense is included in the loan balance, they you'can't pay off the car without paying interest.
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.
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?
How much faster will you pay off your mortgage if you make biweekly payments?
Paying off your loan BI_WEEKLY shortens the interest on your loan. It's important because the first (many) years ---- you're paying on interest, not principal. By paying "bi-weekly", you're paying more on principal than interest. Which means that you're paying less on interest and more on principal, which will shorten the length of your loan obligations. Good luck --- JIM
What does it mean to pay interest on an account?
The term pay interest is usually used along with loan accounts. This is the charge/money you pay a bank for the lending facility they have extended to you. For Ex: If I borrow USD 1000 from a bank @ 5% rate of interest per year, I have pay $50 as interest every year to the bank for the $1000 loan they gave me. If I plan on paying it in 10 equal installments, I will pay $105 every month for 10 months to repay the $1050 I owe the bank. Here the $5 I pay every month can be considered as "Paying Interest on my Loan Account"
Can you pay off a car loan without paying interest-?
If the total interest expense is included in the loan balance, they you'can't pay off the car without paying interest.
What are Advantages of paying off loan early?
You pay less interest on the amount borrowed,
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.
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?
How much faster will you pay off your mortgage if you make biweekly payments?
Paying off your loan BI_WEEKLY shortens the interest on your loan. It's important because the first (many) years ---- you're paying on interest, not principal. By paying "bi-weekly", you're paying more on principal than interest. Which means that you're paying less on interest and more on principal, which will shorten the length of your loan obligations. Good luck --- JIM
What does it mean to pay interest on an account?
The term pay interest is usually used along with loan accounts. This is the charge/money you pay a bank for the lending facility they have extended to you. For Ex: If I borrow USD 1000 from a bank @ 5% rate of interest per year, I have pay $50 as interest every year to the bank for the $1000 loan they gave me. If I plan on paying it in 10 equal installments, I will pay $105 every month for 10 months to repay the $1050 I owe the bank. Here the $5 I pay every month can be considered as "Paying Interest on my Loan Account"
What is the difference between making a regular payment to a loan or applying a payment to only principal?
Generally, an unscheduled loan has interest compounded at the end of a time period (in most cases a month, sometimes a week.) When you make a loan payment, you are generally paying both accrued interest and principal debt. When you pay only to the principal, you are paying back the original amount without interest. This is done by people in order to reduce future interest payments.
What is the typical interest rate for a pay day loan?
Interest rates are extremely high on pay day loans. The typical fee for a pay day loan is $17.50 for every $100. The interest rates can be as much as 911%. Many borrows end up paying more in interest then what they initially borrowed.
Is paying off a house or loan cheaper?
Paying off a house is cheaper. You already have interest on your mortgage, why take a loan and increase your interest? Aim to pay off your house unless you are looking to buy a new one. Get a job tubby.
You want to know what is the most savings way to pay off a home loan paying the principal or interest and why?
yes
Why you pay more if you take things on credit and loan?
Because we paying the orginial amoutn and interest amount together.
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.
