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Why is a car payment owed this month if 5 months have been paid in advance?
Wiki User
∙ 13y ago
Paying a lump sum one month does not automatically negate the fact that following payments are still due. The lump sum just makes the payoff come sooner, so the final payments of the car loan may not be required. Contact your lender for more information.
The proper method to pay in advance is to send in separate checks with each month's payment stub.
Wiki User
∙ 13y ago
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