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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!
What else can I help you with?
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.
How can I avoid paying interest on a loan?
To avoid paying interest on a loan, you can pay off the loan in full before the interest accrues or choose a loan with a 0 interest rate if available.
How does paying principal affect the overall interest on a loan?
Paying off the principal amount of a loan reduces the total amount of money that is subject to interest, which in turn decreases the overall interest paid on the loan. This means that the more principal you pay off, the less interest you will ultimately pay over the life of the loan.
What are some strategies for avoiding paying interest on a loan?
To avoid paying interest on a loan, you can try to pay off the loan early, make larger payments than required, or look for loans with 0 interest promotional periods.
Which should be prioritized when making loan payments: paying interest or principal first?
When making loan payments, it is generally recommended to prioritize paying off the interest first before focusing on the principal. This helps reduce the overall amount of interest you will pay over the life of the loan and can help you pay off the loan faster.
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.
How can I avoid paying interest on a loan?
To avoid paying interest on a loan, you can pay off the loan in full before the interest accrues or choose a loan with a 0 interest rate if available.
How does paying principal affect the overall interest on a loan?
Paying off the principal amount of a loan reduces the total amount of money that is subject to interest, which in turn decreases the overall interest paid on the loan. This means that the more principal you pay off, the less interest you will ultimately pay over the life of the loan.
What are some strategies for avoiding paying interest on a loan?
To avoid paying interest on a loan, you can try to pay off the loan early, make larger payments than required, or look for loans with 0 interest promotional periods.
Which should be prioritized when making loan payments: paying interest or principal first?
When making loan payments, it is generally recommended to prioritize paying off the interest first before focusing on the principal. This helps reduce the overall amount of interest you will pay over the life of the loan and can help you pay off the loan faster.
What does it mean to pay principal only on a loan or mortgage?
Paying principal only on a loan or mortgage means making a payment that goes directly towards reducing the amount you borrowed, without including any interest. This can help you pay off the loan faster and save money on interest costs.
What are Advantages of paying off loan early?
You pay less interest on the amount borrowed,
Which loan should I prioritize paying off first?
You should prioritize paying off the loan with the highest interest rate first. This will save you money in the long run by reducing the amount of interest you have to pay.
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?
What is the importance of paying the principal on a loan?
Paying the principal on a loan is important because it reduces the amount you owe and helps you pay off the loan faster. It also decreases the total interest you will pay over time, saving you money in the long run.
Why do you pay interest first on a mortgage?
You pay interest first on a mortgage because it is the cost of borrowing money from the lender. By paying the interest first, the lender is compensated for lending you the money before you start paying off the principal amount of the loan.
