I was wondering since a lot of us still have a car loan outstanding. What do ya'll currently owe on your maxima, and is there any way to pay off more loan principal instead of having your extra money go towards interest?

 

Nunyadambidness

 

2 daymn much.

 

Nothing......All mine, paid off over a year ago.....Sold my 2001 ninja and traded in my 97 protege with a nice down payment and only had a loan for 2 years

 

payed mine off after 3 years no more 560 payments. don't ask how i did it cause i won't tell. no im not a hooker or stripper

 

I have to pay back a little over half a million dollars in school loans back by the end of May. That's gonna hurt.

 

why do you care and why do you need to know?

 

18 and change

 

I guess I wasn't clear in the orginal post. Car loans (Maxima) not personal!!!! The reason why is I'm wondering how do you pay more on your loan without it going to intrest. I currently owe about 10k on my 03'. I really don't see why ya'll insist on being smart asses instead of just trying to help someone out.

 

If your loan is a simple interest loan, paying more than your payment, should go towards the principal, not the interest.

Call your bank and find out

 

dont own anythign fro my max but own money for all the mods i been putting on it lately

 

6G's Lease payout FTL...

Should have been payed off last year...

I will have her paid off this year, and then the fun mods come!

 

i got about 11 g's left. still got a while to go.........****!!!!!!!!!!

You in philly? what part man?

 

i financed about 11000 on a 2000 maxima back in April 04. I currently owe about $6800. I took out a 5 year loan then, and just pay extra each month. I hope to have paid a 5 yr. loan in 3 or less.

 

Paid off

 

If you want to make a prinicpal only payment, all you need to do is tell the teller that when you go to the bank and they will give you a special ticket or just process the transaction a certain way, so that it will go toward principal. It's really simple, you just have to ask. If it is not a local bank you should be able to contact the bank and they will give you any special instructions to make it happen.

Oh, by the way. I'm an assistant manager at bank and have been in the banking industry since I was 17.

 

Yeah I'm in philly currently in the Mt. airy part.

 

I'm in philly and the bank that owns the loan is chase bank. They currently don't have any banks in the area so I normally pay online. How would I go about making a special note to have the principal money paid?

 

so your saying that the bank accually cares about people enough that if the customer says so they will just pay off the principle and not interest (which is there sorce of income) Ive been in the banking busisness literly since I was born, my family owns a couple of community banks. If says in your loan docs thatyou are able to make a payment over the payment amount then it will go to principle.

 

Yes. The banks that your family owns will not allow principal payments????

Hmmm........ I don't know what to tell you. The two banks that I have worked at here in Oklahoma are major banks (one holding over 10 billion in assets and the bank that I am at now holding well over 30 billion in assets) and both allow principal only payments, but just require a certain ticket. Both banks are extremely customer orientented, so maybe that does have something to do with it. It doesn't hurt to just call and ask though.

 

Im not saying we dont. Im just saying that the bank like to have there interest paid before they go down on principle. On some loans it says that you can't make pay over your payment amount. It all depends.

 

Of course. Well, I guess were on the same page. It all depends on what you signed up for.

 

They HAVE to make payment toward your principal on anything you pay over your required minimum required payment. If you send them anything over your payment, it WILL go toward your principal.

 

No they still will. But you will get a fee for it

 

Incorrect, when you make your regualr payment, just add to it.

For example, mine is $406 a month, just make a monthly payment of $450 a money and you avoid the fine.

 

Im not in loans so i don't know

I have just heard people say that they get a fee or something like that (not late fees)

 

Law classes FTW!!

 

I wanted to go into law.....how did you know?

 

Post #10


/thread

 

I have a "deep" family history in law and I have taken Quanitative Business Application Classes. QBA is a business "math" class. It is all about loans and business money... you can really learn quite a bit.

 

Sure promote yourself...


Typical of a mod...

 

So show me where my response did not apply to his question or strayed from the topic or did not offer useful advice to his inquiry.

Get off your anti-mod high horse.

 

bought, paid with a big check same day... 0$

 

I just got the car 2 weeks ago... owe roughly $14800 (tax / tags included) now... at a 3.9% interest loan... aka $550 a month for roughly 3 - 4 years...

 

Bought brand new in 02/01. Paid off!

No car note = more money for my MR2 3S-GTE swap!

 

I have about 600 and change left

 

I owe about 19000,

i'm upside down in my loan from my trade in. I need to start paying more a month to get rid of this debt!

 

Holy crap some of you are seriously flipped!

 

About 18k ,$329 a month

 

It was joke... dont be so sensative.

Since when have I been on an anti-mod high horse?