The total amount to pay to satisfy the terms of a loan. It would include the cost of the vehicle you purchased and possibly interest and other fees.
Payoff amounts are not usually provided on the monthly loan statement because the amount is calculated on a daily basis. To determine your payoff amount, call your lender and ask them what the current payoff amount is. Ask them if the payoff will change if you want to pay off the loan on a future date (give them the future date and they can calculate the payoff for you).
The principal balance is the amount of money you still owe on a loan, while the payoff amount is the total amount needed to pay off the loan in full, including any remaining interest or fees.
The outstanding principal balance is the amount of money you still owe on a loan, while the payoff amount is the total amount needed to pay off the loan in full, including any interest or fees that may have accrued.
A creditor will usually accept a lower payoff amount when requested. Usually a lump sum payoff will result in a lower due balance.
The outstanding balance is the amount you currently owe on your account, including any unpaid charges and fees. The payoff amount is the total amount needed to pay off your account in full, which may include additional fees or interest that have accrued since your last payment.
Yes
Total amount after interest.
arithemetic mean
One way or another, the loan has to be paid off. If you trade the car in, you can get the payoff added to the amount financed on the new car.
Discount on Total amount...
For someone to take over the payments they must essentially get a new loan for the payoff amount in their name. This new loan will pay off your loan and will make thir payoff amount higher than yours.
The interest-bearing principal balance is the amount of money you still owe on a loan, excluding interest. The payoff amount includes the principal balance plus any accrued interest and fees that need to be paid to fully settle the loan.