Paying more on our NMAC loan...
#1
Paying more on our NMAC loan...
I know this has been covered but i can't search. So I heard you have to send any extra money over your payment to a seperate location or something? I have been paying 100 dollars over my monthly car payment for two years now, is this ok to do?
the 100 dollars extra is going towards the principle right?
thanks
the 100 dollars extra is going towards the principle right?
thanks
#2
Extra payments typically go to the principal. However I haven't heard anything about sending them to a different location. That dosent mean anything bad, I just dont know much about NMAC. Just make sure they are receiving the extra money and crediting your balance. You should have a number in your payment book or statement you can call to get that info. Anytime you can pay extra its a good thing to do!
#7
Originally Posted by charliekilo3
The address for principal only payments is
NMAC
PO Box 660577
Attn: Transaction Processing
Dallas, TX 75266
NMAC
PO Box 660577
Attn: Transaction Processing
Dallas, TX 75266
Is it just me or does it just seem strange to have to send extra payment money to Dallas Tx?? I got this feeling this extra money is gonna get lost or not added into the principal payment some how.
#9
I think it depends on the state you live in... in California, they CAN NOT penalize you for paying early... I don't remember the legal term for it.
I paid off my 5 year loan in 2.5 years with NMAC and it was to the same address (normal payment)...
I paid off my 5 year loan in 2.5 years with NMAC and it was to the same address (normal payment)...
#10
Originally Posted by Chunger
I think it depends on the state you live in... in California, they CAN NOT penalize you for paying early... I don't remember the legal term for it.
I paid off my 5 year loan in 2.5 years with NMAC and it was to the same address (normal payment)...
I paid off my 5 year loan in 2.5 years with NMAC and it was to the same address (normal payment)...
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